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  "documentTitle": "Grove | Investor Presentation Deck | 41 slides",
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  "authorName": "Grove Collaborative",
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  "presentationDate": "2023-08-01 00:00:00",
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  "notes": "Includes a valuation table and key performance indicators.",
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      "text": "WELL POSITIONED + LOW AWARENESS. Net cash position with $100M of cash, cash equivalents + available debt. Near term path to profitability. Potential Adj. EBITDA approximately break even in Q3, well ahead of schedule, and annual guidance 2H 2023 midpoint of -$6.5M. Q2 2023 Gross Margin of 51.9%, near Q1 record levels despite one-time non-cash inventory reserve charges. Excluding impact, Adj. GM was a record of 53.6%. Extraordinary long term customer retention. CAC optimized down to near-pandemic levels. Operating efficiency + cost savings still rolling through P&L. y/y Adjusted EBITDA margin improvement of >2,200 bps in Q2 2023. Multiple upside drivers + catalysts. Continued retail distribution growth. Category expansion into wellness. M+A.",
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      "text": "GROVE IS A MARKET LEADER IN ZERO WASTE HOME CARE. Home + personal care is $1T globally, built on single use plastic. Zero waste leadership will create a multi-billion dollar brand. That is our opportunity. 8.3x revenue growth since 2017. #1 market share, awareness, and assortment for zero waste HPC. #1 DTC community. Door growth up >100% y/y.",
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      "kind": "source-note",
      "text": "(1) As of 6/30/2023 (2) Close price as of 6/30 (3) 6/30/2023 gross cash of $90M, less debt of $79.5M",
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      "text": "6/30/2023 Valuation. Shares Outstanding 36. Price / Share $1.77. Market Cap $63. Less: 6/30/23 Net Cash 11. Total Enterprise Value $53. TEV / 2022 Sales 0.16x. TEV / 2023 Sales 0.20x. TEV / 2022 GP 0.34x.",
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      "kind": "title",
      "text": "A Premier Long Term Brand.",
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