Grove Collaborative Holdings, Inc. (NYSE:GROV) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET
Company Participants
Jeff Yurcisin - CEO
Sergio Cervantes - CFO
Conference Call Participants
Alec Legg - Canaccord Genuity
Operator
Good afternoon and thank you for standing by. Welcome to Grove Collaborative Holdings, Inc.'s Second Quarter 2024 Earnings Conference Call. At this time, all lines have been placed on mute to prevent any background noise. Following the speakers' remarks, we will open your line for questions.
As a reminder, this conference call is being recorded. Hosting today's call are Grove's CEO, Jeff Yurcisin, and CFO, Sergio Cervantes. Before they begin their prepared remarks, I will review the forward-looking statement, Safe Harbor.
Some of the statements made today about future prospects, financial results, business strategy, industry trends, and Grove's ability to successfully respond to business risks may be considered forward-looking, including statements relating to the impacts of their replatforming to Shopify and its projected completion date, sequential revenue growth in the fourth quarter, their plan to increase advertising spend in the fourth quarter, and their net revenue and adjusted EBITDA margin guidance.
Such statements are based on current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including those factors discussed in our filings with the Security and Exchange Commission. All of these statements are based on Grove's view today, and Grove assumes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable security laws.
For more information, please refer to the risk factors discussed in Grove's most recent filings with the SEC, which are available on Grove's Investor Relations website at investors.grove.co.
During today's call, Grove will also discuss certain non-GAAP financial measures. Reconciliations of these non-GAAP items to the most directly comparable GAAP financial measures are provided in their earnings release, which is also available on their Investor Relations website.
I will now turn the call over to Jeff Yurcisin to begin.
Jeff Yurcisin
Thank you, Operator.
Today marks my fourth earnings announcement and nearly my one-year anniversary as CEO. It's a privilege to lead this team and drive a business transformation that sets us apart as the destination for conscientious consumers who want the best for their families, their wallets, and the planet.
In the last 12 months, we have transformed the e-commerce experience while also prioritizing profitability. As we reshape our business amidst this turnaround, we have refocused our priorities to be profitability and balance sheet strength, the foundational elements of financial stability, stabilizing revenue, and ultimately driving revenue growth by improving the customer experience, and differentiating ourselves in sustainability, which is why customers shop with us.