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Side-by-side financial comparison of SPRUCE POWER HOLDING CORP (SPRU) and UNITY BANCORP INC (UNTY). Click either name above to swap in a different company.
UNITY BANCORP INC is the larger business by last-quarter revenue ($35.3M vs $24.0M, roughly 1.5× SPRUCE POWER HOLDING CORP). UNITY BANCORP INC runs the higher net margin — 43.9% vs -28.6%, a 72.4% gap on every dollar of revenue. On growth, UNITY BANCORP INC posted the faster year-over-year revenue change (24.2% vs 20.4%). UNITY BANCORP INC produced more free cash flow last quarter ($44.3M vs $-3.3M). Over the past eight quarters, UNITY BANCORP INC's revenue compounded faster (17.5% CAGR vs 14.6%).
Spruce Finance is an American consumer finance company specializing in the residential solar finance and efficiency home improvement sectors in the U.S.
Unity Bancorp Inc is a New Jersey-headquartered financial holding company operating Unity Bank. It offers a full range of commercial and retail banking services including business loans, deposit products, mortgage services, and personal banking solutions, primarily serving small and medium-sized enterprises and individual consumers across local communities in New Jersey and eastern Pennsylvania.
SPRU vs UNTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $24.0M | $35.3M |
| Net Profit | $-6.9M | $15.5M |
| Gross Margin | — | — |
| Operating Margin | 9.4% | 55.8% |
| Net Margin | -28.6% | 43.9% |
| Revenue YoY | 20.4% | 24.2% |
| Net Profit YoY | -15.8% | 34.5% |
| EPS (diluted) | $-0.38 | $1.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $24.0M | $35.3M | ||
| Q3 25 | $30.7M | $32.8M | ||
| Q2 25 | $33.2M | $34.4M | ||
| Q1 25 | $23.8M | $29.4M | ||
| Q4 24 | $20.0M | $28.4M | ||
| Q3 24 | $21.4M | $27.7M | ||
| Q2 24 | $22.5M | $25.5M | ||
| Q1 24 | $18.3M | $25.6M |
| Q4 25 | $-6.9M | $15.5M | ||
| Q3 25 | $-860.0K | $14.4M | ||
| Q2 25 | $-3.0M | $16.5M | ||
| Q1 25 | $-15.3M | $11.6M | ||
| Q4 24 | $-5.9M | $11.5M | ||
| Q3 24 | $-53.5M | $10.9M | ||
| Q2 24 | $-8.6M | $9.5M | ||
| Q1 24 | $-2.5M | $9.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 54.8% | — | ||
| Q2 24 | 54.9% | — | ||
| Q1 24 | 51.5% | — |
| Q4 25 | 9.4% | 55.8% | ||
| Q3 25 | 27.6% | 57.5% | ||
| Q2 25 | 26.8% | 62.6% | ||
| Q1 25 | -7.1% | 52.6% | ||
| Q4 24 | -31.4% | 51.0% | ||
| Q3 24 | -173.8% | 52.7% | ||
| Q2 24 | -14.9% | 49.3% | ||
| Q1 24 | -19.7% | 50.0% |
| Q4 25 | -28.6% | 43.9% | ||
| Q3 25 | -2.8% | 43.8% | ||
| Q2 25 | -8.9% | 48.0% | ||
| Q1 25 | -64.4% | 39.5% | ||
| Q4 24 | -29.7% | 40.5% | ||
| Q3 24 | -250.4% | 39.4% | ||
| Q2 24 | -38.2% | 37.1% | ||
| Q1 24 | -13.4% | 37.5% |
| Q4 25 | $-0.38 | $1.52 | ||
| Q3 25 | $-0.05 | $1.41 | ||
| Q2 25 | $-0.17 | $1.61 | ||
| Q1 25 | $-0.84 | $1.13 | ||
| Q4 24 | $-0.36 | $1.13 | ||
| Q3 24 | $-2.88 | $1.07 | ||
| Q2 24 | $-0.45 | $0.92 | ||
| Q1 24 | $-0.13 | $0.94 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $54.8M | — |
| Total DebtLower is stronger | $695.5M | — |
| Stockholders' EquityBook value | $121.3M | $345.6M |
| Total Assets | $837.3M | $3.0B |
| Debt / EquityLower = less leverage | 5.74× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | — | ||
| Q3 25 | $53.6M | — | ||
| Q2 25 | $53.5M | — | ||
| Q1 25 | $61.9M | — | ||
| Q4 24 | $72.8M | — | ||
| Q3 24 | $113.7M | — | ||
| Q2 24 | $116.6M | — | ||
| Q1 24 | $120.6M | — |
| Q4 25 | $695.5M | — | ||
| Q3 25 | $705.6M | — | ||
| Q2 25 | $717.1M | — | ||
| Q1 25 | $723.8M | — | ||
| Q4 24 | $730.6M | $230.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $121.3M | $345.6M | ||
| Q3 25 | $124.9M | $334.0M | ||
| Q2 25 | $125.0M | $319.8M | ||
| Q1 25 | $130.8M | $306.1M | ||
| Q4 24 | $143.7M | $295.6M | ||
| Q3 24 | $151.6M | $284.3M | ||
| Q2 24 | $204.6M | $273.4M | ||
| Q1 24 | $213.0M | $266.8M |
| Q4 25 | $837.3M | $3.0B | ||
| Q3 25 | $857.1M | $2.9B | ||
| Q2 25 | $862.6M | $2.9B | ||
| Q1 25 | $878.0M | $2.8B | ||
| Q4 24 | $898.5M | $2.7B | ||
| Q3 24 | $806.8M | $2.6B | ||
| Q2 24 | $858.4M | $2.6B | ||
| Q1 24 | $867.9M | $2.6B |
| Q4 25 | 5.74× | — | ||
| Q3 25 | 5.65× | — | ||
| Q2 25 | 5.74× | — | ||
| Q1 25 | 5.53× | — | ||
| Q4 24 | 5.08× | 0.78× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.3M | $44.9M |
| Free Cash FlowOCF − Capex | $-3.3M | $44.3M |
| FCF MarginFCF / Revenue | -13.7% | 125.7% |
| Capex IntensityCapex / Revenue | 0.0% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 2.90× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.8M | $81.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.3M | $44.9M | ||
| Q3 25 | $11.2M | $45.5M | ||
| Q2 25 | $-2.3M | $-25.3M | ||
| Q1 25 | $-9.1M | $17.9M | ||
| Q4 24 | $-13.5M | $48.0M | ||
| Q3 24 | $-1.1M | $17.7M | ||
| Q2 24 | $-5.1M | $-8.4M | ||
| Q1 24 | $-22.2M | $15.8M |
| Q4 25 | $-3.3M | $44.3M | ||
| Q3 25 | $11.2M | $45.3M | ||
| Q2 25 | $-2.4M | $-25.5M | ||
| Q1 25 | $-9.2M | $17.6M | ||
| Q4 24 | $-13.6M | $47.3M | ||
| Q3 24 | $-1.1M | $17.5M | ||
| Q2 24 | $-5.2M | $-8.6M | ||
| Q1 24 | $-22.3M | $15.7M |
| Q4 25 | -13.7% | 125.7% | ||
| Q3 25 | 36.5% | 138.1% | ||
| Q2 25 | -7.3% | -74.2% | ||
| Q1 25 | -38.7% | 59.9% | ||
| Q4 24 | -68.3% | 166.5% | ||
| Q3 24 | -5.1% | 63.3% | ||
| Q2 24 | -23.1% | -33.7% | ||
| Q1 24 | -121.7% | 61.4% |
| Q4 25 | 0.0% | 1.6% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.3% | 0.5% | ||
| Q1 25 | 0.4% | 1.0% | ||
| Q4 24 | 0.9% | 2.4% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.4% | 0.5% | ||
| Q1 24 | 0.4% | 0.3% |
| Q4 25 | — | 2.90× | ||
| Q3 25 | — | 3.16× | ||
| Q2 25 | — | -1.54× | ||
| Q1 25 | — | 1.54× | ||
| Q4 24 | — | 4.17× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | -0.89× | ||
| Q1 24 | — | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
