Grove Collaborative Holdings, Inc. (NYSE:GROV) Q3 2024 Results Conference Call November 12, 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. Third 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 is being recorded. Hosting today's call are Grove's CEO, Jeff Yurcisin; and CFO, Sergio Cervantes.

Before they begin their prepared remarks, I'll review the forward-looking statements safe harbor. Some of the statements made today about future prospects, financial results, business strategies, industry trends and Grove's ability to successfully respond to business risks may be considered forward-looking, including statements relating to plans to exit the retail channel. Delivering higher returns by focusing its investments in DTC, sequential revenue growth in the fourth quarter, repayment of remaining amounts outstanding under their term debt facility 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 the filings with the Securities and Exchange Commission. All of these statements are based on Grove's view today, and Grove assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities 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 discuss certain non-GAAP financial measures. Reconciliation 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 would now like to turn the call over to Jeff Yurcisin to begin.

Jeff Yurcisin

Thank you, operator. I'm excited to share progress and updates with you all today on the turnaround underway at Grove. I've now had the privilege of leading this remarkable team for over a full calendar year and continue to be proud of the work we're doing to not only build the destination for our conscientious customers, but to also serve as the trusted brand that prioritizes both environmental and human health.