Investor Presentation March 2024 Exhibit 99.2


 
NOTES START FROM HERE AND GROW UP NO CONTENT BELOW THIS LINE CONTENT BELOW THIS LINE SUBTITLE BELOW THIS LINE TITLE CAN NOT GO ABOVE THIS LINE 3 59 76 0 114 88 120 159 144 130 186 128 102 163 157 172 196 200 255 255 255 0 0 0 247 243 228 3 59 76 247 243 228 2 Forward-Looking Statements Certain statements included in this presentation are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than statements about historical fact. The forward looking statements in this presentation include, but are not limited to, statements regarding 2024 Adjusted EBITDA profitability and revenue growth, growth in the second half of 2024, growth and profitability in 2025, transformation in 2024, category expansion, customer experience transformation, future product launches, continuing momentum in VMS and the impact of customer experience changes. These forward-looking statements are subject to a number of risks and uncertainties, and you should not rely upon the forward-looking statements as predictions of future events. The future events and trends discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Grove cannot guarantee that future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Except as required by law, Grove disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. The forward-looking statements are subject to a number of risks and uncertainties, including: changes in business, market, financial, political and legal conditions; risks relating to the uncertainty of the projected financial information; Grove’s ability to successfully expand its business; competition; the uncertain effects of the COVID-19 pandemic; risks relating to growing inflation and rising interest rates; and those factors discussed in documents of Grove filed, or to be filed, with the U.S. Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements should not be relied upon as representing Grove’s assessments as of any date subsequent to the date of this presentation. Non-GAAP Information Grove uses certain non-GAAP measures in this presentation including Adjusted EBITDA. Grove believes the presentation of its non-GAAP financial measures enhances investors' overall understanding of the company's historical financial performance. The presentation of the company's non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company's financial results prepared in accordance with GAAP, and the company's non-GAAP measures may be different from non-GAAP measures used by other companies. Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures, may be found in the Supplemental Materials at the end of this presentation. Safe Harbor Statement/Non-GAAP Measures


 
NOTES START FROM HERE AND GROW UP NO CONTENT BELOW THIS LINE CONTENT BELOW THIS LINE SUBTITLE BELOW THIS LINE TITLE CAN NOT GO ABOVE THIS LINE 3 59 76 0 114 88 120 159 144 130 186 128 102 163 157 172 196 200 255 255 255 0 0 0 247 243 228 3 59 76 247 243 228 3 Customer Driven Growth Sequential Growth Will Resume in 2H 2024 ● New leadership brings DTC best practices from Amazon to transform the customer experience ● Expansion into wellness has provided the blueprint for further cross category expansion ● Sustainable innovation will bring lower cost Grove Co. products to Target and Grove.com Leading Brand in Sustainability Grove Has Pole Position to Win as the Leader with Conscientious Consumers ● 5 million lifetime customers ● #1 market share, awareness, and assortment in plastic neutral Home & Personal Care (“HPC”)(1) ● Leading plastic neutral home care brand at Target Continue to Prioritize Profitability In 2023 Grove Reached Adjusted EBITDA Profitability(2)(3) ● Grove beat and raised Adjusted EBITDA guidance in each quarter of 2023, achieving Adjusted EBITDA profitability one year ahead of schedule ● Adjusted EBITDA(3) profitability projected again in 2024 ● Two year Adjusted EBITDA margin improvement of 2,480 bps ● Q4 2023 Gross Margin of 54.4%, an all time record Other Upside Drivers ● Debt paydown or refinancing to deleverage balance sheet ● M&A can be an enabler to accelerate growth A Premier Long Term Brand Notes: (1) Grove consumer awareness survey, June 2023 (2) Adj. EBITDA profitability in Q3 and Q4 2023. (3) Adj. EBITDA is a non-GAAP metric; please refer to Appendix for reconciliation of adjusted EBITDA to net loss in the table at the end


 
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CONFIDENTIAL 2024: Transforming the Business


 
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