vs
Side-by-side financial comparison of SPRUCE POWER HOLDING CORP (SPRU) and Voyager Technologies, Inc. (VOYG). Click either name above to swap in a different company.
Voyager Technologies, Inc. is the larger business by last-quarter revenue ($35.2M vs $24.0M, roughly 1.5× SPRUCE POWER HOLDING CORP). SPRUCE POWER HOLDING CORP runs the higher net margin — -28.6% vs -130.4%, a 101.8% gap on every dollar of revenue. On growth, SPRUCE POWER HOLDING CORP posted the faster year-over-year revenue change (20.4% vs 2.1%). SPRUCE POWER HOLDING CORP produced more free cash flow last quarter ($-3.3M vs $-66.8M).
Spruce Finance is an American consumer finance company specializing in the residential solar finance and efficiency home improvement sectors in the U.S.
SPRU vs VOYG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $24.0M | $35.2M |
| Net Profit | $-6.9M | $-45.9M |
| Gross Margin | — | -4.4% |
| Operating Margin | 9.4% | — |
| Net Margin | -28.6% | -130.4% |
| Revenue YoY | 20.4% | 2.1% |
| Net Profit YoY | -15.8% | -64.5% |
| EPS (diluted) | $-0.38 | $-0.75 |
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.
| Q1 26 | — | $35.2M | ||
| Q4 25 | $24.0M | $46.7M | ||
| Q3 25 | $30.7M | $39.6M | ||
| Q2 25 | $33.2M | $45.7M | ||
| Q1 25 | $23.8M | — | ||
| Q4 24 | $20.0M | — | ||
| Q3 24 | $21.4M | — | ||
| Q2 24 | $22.5M | — |
| Q1 26 | — | $-45.9M | ||
| Q4 25 | $-6.9M | $-33.0M | ||
| Q3 25 | $-860.0K | $-16.3M | ||
| Q2 25 | $-3.0M | $-31.4M | ||
| Q1 25 | $-15.3M | — | ||
| Q4 24 | $-5.9M | — | ||
| Q3 24 | $-53.5M | — | ||
| Q2 24 | $-8.6M | — |
| Q1 26 | — | -4.4% | ||
| Q4 25 | — | 21.4% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 54.8% | — | ||
| Q2 24 | 54.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 9.4% | — | ||
| Q3 25 | 27.6% | -60.7% | ||
| Q2 25 | 26.8% | -52.8% | ||
| Q1 25 | -7.1% | — | ||
| Q4 24 | -31.4% | — | ||
| Q3 24 | -173.8% | — | ||
| Q2 24 | -14.9% | — |
| Q1 26 | — | -130.4% | ||
| Q4 25 | -28.6% | -70.7% | ||
| Q3 25 | -2.8% | -41.1% | ||
| Q2 25 | -8.9% | -68.7% | ||
| Q1 25 | -64.4% | — | ||
| Q4 24 | -29.7% | — | ||
| Q3 24 | -250.4% | — | ||
| Q2 24 | -38.2% | — |
| Q1 26 | — | $-0.75 | ||
| Q4 25 | $-0.38 | $-0.52 | ||
| Q3 25 | $-0.05 | $-0.28 | ||
| Q2 25 | $-0.17 | $-1.23 | ||
| Q1 25 | $-0.84 | — | ||
| Q4 24 | $-0.36 | — | ||
| Q3 24 | $-2.88 | — | ||
| Q2 24 | $-0.45 | — |
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 | $429.4M |
| Total DebtLower is stronger | $695.5M | — |
| Stockholders' EquityBook value | $121.3M | $404.5M |
| Total Assets | $837.3M | $1.0B |
| Debt / EquityLower = less leverage | 5.74× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $429.4M | ||
| Q4 25 | $54.8M | $491.3M | ||
| Q3 25 | $53.6M | $413.3M | ||
| Q2 25 | $53.5M | $468.9M | ||
| Q1 25 | $61.9M | — | ||
| Q4 24 | $72.8M | — | ||
| Q3 24 | $113.7M | — | ||
| Q2 24 | $116.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | $695.5M | — | ||
| Q3 25 | $705.6M | — | ||
| Q2 25 | $717.1M | — | ||
| Q1 25 | $723.8M | — | ||
| Q4 24 | $730.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $404.5M | ||
| Q4 25 | $121.3M | — | ||
| Q3 25 | $124.9M | $590.9M | ||
| Q2 25 | $125.0M | $554.7M | ||
| Q1 25 | $130.8M | — | ||
| Q4 24 | $143.7M | — | ||
| Q3 24 | $151.6M | — | ||
| Q2 24 | $204.6M | — |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $837.3M | — | ||
| Q3 25 | $857.1M | $727.8M | ||
| Q2 25 | $862.6M | $685.3M | ||
| Q1 25 | $878.0M | — | ||
| Q4 24 | $898.5M | — | ||
| Q3 24 | $806.8M | — | ||
| Q2 24 | $858.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.74× | — | ||
| Q3 25 | 5.65× | — | ||
| Q2 25 | 5.74× | — | ||
| Q1 25 | 5.53× | — | ||
| Q4 24 | 5.08× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $-39.7M |
| Free Cash FlowOCF − Capex | $-3.3M | $-66.8M |
| FCF MarginFCF / Revenue | -13.7% | -189.5% |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-3.8M | $-263.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-39.7M | ||
| Q4 25 | $-3.3M | $-60.9M | ||
| Q3 25 | $11.2M | $-15.1M | ||
| Q2 25 | $-2.3M | $-30.9M | ||
| Q1 25 | $-9.1M | — | ||
| Q4 24 | $-13.5M | — | ||
| Q3 24 | $-1.1M | — | ||
| Q2 24 | $-5.1M | — |
| Q1 26 | — | $-66.8M | ||
| Q4 25 | $-3.3M | $-54.5M | ||
| Q3 25 | $11.2M | $-53.8M | ||
| Q2 25 | $-2.4M | $-88.8M | ||
| Q1 25 | $-9.2M | — | ||
| Q4 24 | $-13.6M | — | ||
| Q3 24 | $-1.1M | — | ||
| Q2 24 | $-5.2M | — |
| Q1 26 | — | -189.5% | ||
| Q4 25 | -13.7% | -116.9% | ||
| Q3 25 | 36.5% | -135.8% | ||
| Q2 25 | -7.3% | -194.4% | ||
| Q1 25 | -38.7% | — | ||
| Q4 24 | -68.3% | — | ||
| Q3 24 | -5.1% | — | ||
| Q2 24 | -23.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | 97.8% | ||
| Q2 25 | 0.3% | 126.7% | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.4% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
