Grove reports first simultaneous net income and adjusted EBITDA profit in Q3
GROV Grove Collaborative Holdings Inc
$1.04 -5.45%
View chart & analysis → - 1Grove Collaborative achieved both net income and adjusted EBITDA profitability in the third quarter for the first time since its listing.
- 2Revenue was $36.8 million, down 15.8% year-over-year but up 0.7% from the previous quarter, while operating expenses decreased by 22.1%.
- 3The company expects Q4 revenue to be slightly lower than Q3 and set a goal to return to revenue growth in 2027.
So what's the key point?
Grove recorded both net income and operating profit in the third quarter for the first time. Although revenue decreased, expenses were cut by 22.1%, and the company aims to return to growth in 2027.
Source The Motley Fool +1 · View original ↗
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