GRVI - GRVI STOCK NEWS

Grove, Inc. (NASDAQ:GRVI) reported strong financial results for Q1 2022, with revenue reaching $8.4 million, a 188% increase from $2.9 million in Q1 2021. The company has swung to a profit with a net income of $0.03 per share compared to a loss of $0.05 in the prior year. Grove's cash position remains robust at $13.0 million. Adjusted EBITDA stands at $1.4 million. Significant acquisitions in the nutraceutical and programmatic advertising markets were also announced, indicating continued growth potential.

Grove, Inc. (NASDAQ:GRVI) has launched the "Fund Your Brand" initiative through its Upexi division, focusing on acquiring and scaling Amazon and eCommerce businesses. Upexi aims to support growing brands with capital, providing funding and growth assistance for a share of future sales revenue. Grove reported a significant fiscal revenue increase of 250% to $24.1 million in 2021, driven by the health and wellness sector. The company emphasizes identifying promising direct-to-consumer brands to maximize their potential within the rapidly expanding e-commerce market.

Grove, Inc. (NASDAQ:GRVI) has completed the acquisition of Florida-based Interactive Offers, enhancing its market presence in programmatic advertising. With projected revenues of $10-12 million for 2022, this acquisition provides Grove a significant entry into the advertising sector. The Interactive Offers' platform aims to optimize ad efficiency for Grove’s current and future brands, including its recently launched Amazon aggregation division, Upexi. The strategic move plans to leverage synergies and expand into the hemp and cannabis sectors.

Grove, Inc. (NASDAQ:GRVI) announced a new share repurchase program authorizing the buyback of up to 1 million shares of its common stock. CEO Allan Marshall emphasized that this initiative showcases the company's commitment to enhancing shareholder value and allows for flexibility in deploying cash flow. The buyback may occur in the open market or via negotiated transactions, contingent on market conditions. Grove maintains a strong balance sheet and positive cash flow, positioning itself strategically to capitalize on growth opportunities in the hemp and wellness sector.

Grove, Inc. (NASDAQ:GRVI) has launched a new division named Upexi aimed at acquiring and scaling promising Amazon and eCommerce businesses. With nearly $10 billion raised by Amazon aggregators since 2020, Grove plans to leverage its expertise in digital marketing and ad technology to attract sellers. The company reported a substantial 250% revenue increase to $24.1 million for fiscal 2021, with a net earnings of $2.9 million. The CEO expressed intentions to add over 20 eCommerce businesses to their portfolio in the next two years.

Grove, Inc. (NASDAQ:GRVI) reported impressive financial results for the fiscal year ended June 30, 2021, with revenues reaching $24.1 million, marking a 250% increase from 2020. The company achieved net earnings of $2.9 million or $0.25 per share, alongside strong operational cash flow of $2.9 million. The fourth quarter saw revenues hit $10.64 million, representing a 361% growth year-over-year. Grove concluded the year with a solid balance sheet, reporting $14.5 million in cash and $21.2 million in stockholders' equity.

Grove, Inc. (NASDAQ:GRVI) announced unaudited financial results for the fiscal year ending June 30, 2021, reporting revenues of $24.1 million and net income of $2.0 million. The company provided revenue guidance for fiscal year 2022, estimating revenues between $48 million and $55 million, indicating strong growth. This guidance reflects an optimistic outlook based on revenue acceleration towards the end of 2021. Additionally, the filing for Form 10-K has been rescheduled to September 28, 2021.

Grove Inc. (NASDAQ: GRVI) announced that CEO Allan Marshall will present at the H.C. Wainwright 23rd Annual Global Investment Conference, scheduled for September 13-15, 2021. The presentation will be available on September 13, 2021, at 7:00 am ET, and one-on-one meetings will also be held. Investors can register for the conference through a provided link and view the presentation on Grove’s website. The company specializes in developing and selling CBD and hemp wellness products across various consumer markets.

Grove Inc. (NASDAQ: GRVI) has signed a Letter of Intent to acquire Interactive Offers, a Florida-based SaaS advertising company. This strategic acquisition aims to enhance Grove's CBD brand business and create a profitable technology division. The Interactive Offers platform specializes in programmatic advertising, which is anticipated to boost Grove's product sales and service offerings to its growing client base. The transaction is expected to be finalized within 30 days, pending due diligence. Grove aims to integrate this platform to expand its reach in the cannabis advertising space.