Grove Maintains Adjusted EBITDA Fiscal Guidance
By Karen Roman
Grove Collaborative Holdings, Inc. (NYSE: GROV) said operating cash flow was $0.8 million during Q3, the fourth consecutive quarter with positive results.
Revenue was $48.3 million compared to $61.8 million a year prior, it stated. The company announced the exit from brick & mortar channels to focus on e-commerce.
Grove’s new full year revenue guidance is $200 to $205 million, a change from $205 to $215 million, it said. Adjusted EBITDA margin will remain in the range of 0.5% to 1.5%.
“We are making essential progress in our multi-year turnaround journey,” said Jeff Yurcisin, Grove’s CEO. “First, we want to reinforce that, amidst this transformation, our priorities remain clear: drive profitability, strengthen our balance sheet, foster revenue growth, and advance sustainability.”
Contact:
Executives-Edge.com
Editor@executives-edge.com
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10