SPRU
Spruce Power Holding Corporation5.09
+0.01+0.2%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
92.48MP/E (TTM)
-Basic EPS (TTM)
-1.32Dividend Yield
0%Recent Filings
8-K
8-K
8-K
Spruce cuts workforce for $20M savings
Spruce Power approved a workforce reduction on September 16, 2025, affecting 40 employees and contractors—19% of its staff—announced September 24, with severance charges of $1 million in Q3. This streamlines operations, targeting $20 million in annual savings to accelerate positive free cash flow. Yet risks loom if disruptions hinder retention. Savings will fuel solar platform growth.
10-Q
Q2 FY2025 results
Spruce Power's Q2 FY2025 revenue climbed 48% year-over-year to $33.2M, fueled by the NJR Acquisitions adding $3.0M in SLA revenues and $5.0M in SREC sales, while government incentives jumped $1.5M. Operating income swung to a $8.9M profit from a $3.4M loss, thanks to O&M efficiencies slashing costs 52% to $2.1M and SG&A dipping 10% to $15.1M. Yet net loss narrowed to $3.0M from $8.6M, pressured by $12.8M interest expense up 69% from the SP5 Facility and $4.1M fair-value hit on swaps. Cash dipped to $53.5M with $90.5M total liquidity, supporting $13.6M debt repayments; free cash flow not disclosed in the 10-Q. The NJR deal closed November 2024 for $132.5M cash, recognizing no goodwill but adding 9,800 systems with 11-year lives. Revenue growth shows portfolio strength. But competition from traditional energy firms threatens market share.
8-K
Q2 Revenue Up 48%
Spruce Power reported Q2 2025 results with revenues surging 48% to $33.2 million, fueled by the November 2024 NJR portfolio acquisition and stronger SREC revenue, while Operating EBITDA jumped 71% to $24.6 million amid a 52% drop in O&M expenses to $2.1 million. The company holds a robust $90.5 million cash balance, equivalent to $5.07 per share, supporting its focus on portfolio scaling and cost controls. Net loss narrowed to $3.0 million from $8.6 million year-over-year. Spruce eyes positive free cash flow, insulated from H.R. 1 tax bill impacts due to its post-subsidy acquisition model.
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