SPRUCE POWER HOLDING CORPSPRUEarnings & Financial Report
Spruce Finance is an American consumer finance company specializing in the residential solar finance and efficiency home improvement sectors in the U.S.
Revenue
$22.5M
Gross Profit
$12.3M
Operating Profit
$-3.4M
Net Profit
$-8.6M
Gross Margin
54.9%
Operating Margin
-14.9%
Net Margin
-38.2%
YoY Growth
-1.5%
EPS
$-0.45
SPRUCE POWER HOLDING CORP Q2 FY2024 Financial Summary
SPRUCE POWER HOLDING CORP reported revenue of $22.5M (down 1.5% YoY) for Q2 FY2024, with a net profit of $-8.6M (down 379.9% YoY) (-38.2% margin). Cost of goods sold was $10.1M, operating expenses totaled $15.7M.
Key Financial Metrics
| Total Revenue | $22.5M |
|---|---|
| Net Profit | $-8.6M |
| Gross Margin | 54.9% |
| Operating Margin | -14.9% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
SPRUCE POWER HOLDING CORP Q2 FY2024 revenue of $22.5M breaks down across 4 segments, led by PPA Revenue at $12.3M (54.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| PPA Revenue | $12.3M | 54.8% |
| SLA Revenue | $6.8M | 30.5% |
| Other | $2.0M | 8.8% |
| Solar Renewable Energy Credit Revenue | $1.3M | 5.9% |
SPRUCE POWER HOLDING CORP Annual Revenue by Year
SPRUCE POWER HOLDING CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $111.8M).
| Year | Annual Revenue |
|---|---|
| 2025 | $111.8M |
| 2024 | $82.1M |
| 2023 | $79.9M |
| 2022 | $23.2M |
SPRUCE POWER HOLDING CORP Quarterly Revenue & Net Profit History
SPRUCE POWER HOLDING CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $24.0M | +20.4% | $-6.9M | -28.6% |
| Q3 FY2025 | $30.7M | +43.7% | $-860.0K | -2.8% |
| Q2 FY2025 | $33.2M | +47.9% | $-3.0M | -8.9% |
| Q1 FY2025 | $23.8M | +30.2% | $-15.3M | -64.4% |
| Q4 FY2024 | $20.0M | +27.1% | $-5.9M | -29.7% |
| Q3 FY2024 | $21.4M | -8.1% | $-53.5M | -250.4% |
| Q2 FY2024 | $22.5M | -1.5% | $-8.6M | -38.2% |
| Q1 FY2024 | $18.3M | +1.1% | $-2.5M | -13.4% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $18.3M | $22.5M | $21.4M | $20.0M | $23.8M | $33.2M | $30.7M | $24.0M |
| YoY Growth | 1.1% | -1.5% | -8.1% | 27.1% | 30.2% | 47.9% | 43.7% | 20.4% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $867.9M | $858.4M | $806.8M | $898.5M | $878.0M | $862.6M | $857.1M | $837.3M |
| Liabilities | $654.9M | $653.9M | $655.1M | $752.3M | $747.2M | $735.2M | $729.7M | $716.0M |
| Equity | $213.0M | $204.6M | $151.6M | $143.7M | $130.8M | $125.0M | $124.9M | $121.3M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-22.2M | $-5.1M | $-1.1M | $-13.5M | $-9.1M | $-2.3M | $11.2M | $-3.3M |