Grove (GROV) Q1 2026 Earnings Transcript

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DATE

Thursday, May 7, 2026 astatine 5 p.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Jeff Yurcisin

• Chief Financial Officer — Tom Siragusa

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Full Conference Call Transcript

Jeff Yurcisin: Thank you, operator, and convey you each for joining us. A twelvemonth ago, we were navigating a level migration that efficaciously broke our lawsuit acquisition and weighed connected our results passim 2025. Throughout the year, we made deliberate choices to support liquidity and profitability portion we repaired it. Those choices are reflected successful the results we are reporting today. The archetypal 4th performed up of our expectations. Net gross was $36.2 cardinal and adjusted EBITDA was $0.3 million, our 2nd consecutive 4th of affirmative adjusted EBITDA, reflecting the instauration we built successful 2025.

The outgo operation is much efficient, the lawsuit acquisition is improving, and we are seeing greenish shoots arsenic it relates to caller cohort behavior, giving america further condemnation that we expect the archetypal 4th of 2026 represents the gross trough for the year. What this means for Grove is this: The level disruption that defined 2025 is mostly down us, and Grove is turning the page. The enactment up is astir growth, deepening our authorization successful quality health, reaccelerating advertizing walk responsibly and translating a stronger lawsuit acquisition into durable momentum.

That is simply a precise antithetic and much optimistic speech than the 1 we've been having for the past respective quarters, and I privation to marque definite that comes done intelligibly today. Let maine emphasize, we expect nett gross successful the archetypal 4th of 2026 to beryllium the bottom, and we're seeing the evidence. Repeat bid rates among caller cohorts person recovered to levels accordant with what we saw earlier the migration. The effectiveness of our advertizing is proving beardown astatine the existent scale, and we're acceptable to accelerate from here. Because of this progress, it gives america assurance to rise our apical and bottommost enactment guidance, which Tom volition sermon much aboriginal on.

Let maine instrumentality a measurement backmost and sermon what Grove is and what we are gathering toward. Grove is the starring curated destination for clean, sustainable, nontoxic products for each country successful the house. Our addressable marketplace is the 57 cardinal conscientious consumers who privation to marque healthier choices for their families and the planet. Behind that curation is simply a deeper condemnation that the products successful your location are not conscionable a manner choice. They are an important wellness decision. Every crockery soap, each lotion, each cleaning spray that contains synthetic chemicals oregon harmful microplastics is simply a tiny but cumulative vulnerability that adds up implicit a lifetime.