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MARKETS / NYSE / SPRU
NYSE · ELECTRIC SERVICES · SMALL CAP

Spruce Power Holding Corp. SPRU

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$111.8M
▲ 36.2% YoY
$-26.0M
$-3.8M
In brief

What this company does

Spruce Power Holding Corporation and its subsidiaries own and operate distributed solar energy assets across the United States, offering subscription-based services to approximately 84,000 home solar assets and customer contracts. As of December 31, 2025, the company had 159 full-time employees, primarily located in Texas, New Jersey and California. The company's home solar asset portfolios had a total weighted average remaining contract term of approximately 10 years as of December 31, 2025. Its core solar service offerings generate revenue through the lease of, and sale of electricity from, its home solar energy systems under long-term Customer Agreements, through third-party contracts to sell solar renewable energy credits generated by those systems, and through the servicing of third-party-owned solar energy systems via its Spruce Pro servicing platform, which offers portfolio managed services to more than 60,000 systems owned by third parties. The company changed its corporate name from XL Fleet Corp. to Spruce Power Holding Corporation in November 2022, following its acquisition of Legacy Spruce Power.

Written from the business description in SPRUCE POWER HOLDING CORP's annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth
USD 111.8M
Revenue, FY2025 · full 7-year series below
Revenue $M Net income $M
FY2025 · Revenue 111.8 · Net income -26.0
40M80M-40M-80M2019202020212022202320242025
Compound annual growth
+68.9%
+40.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +40.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−23 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 16.0% · Net -23.0%
-200%-400%2019202020212022202320242025
ROE
FY2022 · ROE -26.0%
5%10%-20%-40%-60%2019202020212022202320242025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -3.8
-25.0M-50.0M2019202020212022202320242025

Total assetsUSD 837.3M
CashUSD 54.8M
Gross debtUSD 676.8M
Net debtUSD 621.9M
Current ratio0.49×

Not available: we don't have the shareholders' equity figure for this period.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019
Revenue $B0.10.10.10.00.00.00.0
Operating income $B0.0−0.1−0.0−0.1−0.0−0.0−0.0
EBITDA $B····−0.0−0.0−0.0
Income tax $B0.0······
Net income $B−0.0−0.1−0.1−0.10.0−0.1−0.0
Free cash flow $B−0.0−0.0−0.0−0.1−0.0−0.0−0.0
EPS, diluted $−1.44−3.82−3.58−5.270.19−0.72−0.19
Dividend / sh $·······
Payout %·······
ROE %···−26.010.5−69.2·
Shares out B0.020.020.020.020.140.130.08

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 31 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 62 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityElectric Services
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2019

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