Grove Announces Fourth Quarter and Full Year 2024 Financial Results
Financial Performance Overview: Grove Collaborative reported a sequential revenue growth of $49.5 million in Q4 2024, marking the first increase since Q1 2022, despite a year-over-year decline of 21.5% for the full year. The company achieved positive Adjusted EBITDA for the first time and maintained positive operating cash flow for three consecutive quarters.
Strategic Acquisitions and Future Outlook: The company completed acquisitions of Grab Green and 8Greens to enhance its product offerings in eco-friendly cleaning and wellness categories. For 2025, Grove expects flat to mid-single-digit percentage revenue decline, with a commitment to achieving positive Adjusted EBITDA again.
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Cinch Home Services Appoints Kris Miller to Advisory Board
- New Board Member: Cinch Home Services has appointed Kris Miller to its Advisory Board, bringing over 20 years of digital and strategic transformation experience to guide the company in simplifying home ownership.
- Digital Transformation Expert: Previously serving as Executive Vice President at eBay, Miller led global digital strategy and e-commerce growth initiatives, which are expected to significantly enhance Cinch's platform evolution and customer experience.
- Extensive Governance Experience: With 24 years at Bain & Company as a Senior Partner focusing on strategy and growth, Miller is poised to provide strong governance insights that will aid Cinch in driving long-term value creation.
- Commitment to Innovation and Growth: Miller expressed excitement about contributing her expertise on the Advisory Board, particularly at the intersection of technology, service, and trust, to propel ongoing innovation and growth at Cinch.
Grove Collaborative Taps Novi to Power Verified Product Claims Across Its Full Marketplace
Partnership Announcement: Grove Collaborative has partnered with Novi to enhance transparency and verification of product claims across its e-commerce platform, aiming to set a higher industry standard for ingredient safety and environmental impact.
Consumer Trust Focus: The collaboration emphasizes the importance of third-party verification in building consumer trust, as retailers adapt to increasing demands for transparency and reliable product information in an evolving marketplace.
