---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-070592"
form_type: "8-K"
ticker: "SPRU"
cik: "0001772720"
company_name: "SPRUCE POWER HOLDING CORP"
filed_at: "2022-11-09T23:59:59+00:00"
generated_at: "2026-06-22T01:43:20.329595+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# XL Fleet posts Q3 revenue of $8.4M; completes Spruce Power acquisition; to rename to Spruce Power

## Summary
- Total revenue $8.4M in Q3 2022 vs $3.2M in Q3 2021, including $5.1M partial-quarter from Spruce Power.
- Net loss $19.6M in Q3 2022 vs $7.5M in Q3 2021; adjusted net loss $4.2M vs $14.7M in Q3 2021.
- Completed acquisition of Spruce Power on Sept 9, 2022; exit cash $239.5M unrestricted.
- Over 51,000 customers; PV5 gross customer value $821M; exercised options to buy out six portfolios for $7.7M.
- Name change to Spruce Power Holding Corporation, ticker to SPRU, effective Nov 14, 2022.

## SEC filing metadata
- accession: 0001213900-22-070592
- form_type: 8-K
- ticker: SPRU
- cik: 0001772720
- company_name: SPRUCE POWER HOLDING CORP
- filed_at: 2022-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1772720/000121390022070592/0001213900-22-070592-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772720/000121390022070592/ea168343-8k_xlfleet.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-070592
- JSON: https://secwatch.observer/filing/0001213900-22-070592.json
- Plain text: https://secwatch.observer/filing/0001213900-22-070592.txt

## Key facts
- Earnings Releases
  SPRUCE POWER HOLDING CORP reported third quarter of 2022 results: revenue $8.4 million, net income $19.6 million.
  - Period: third quarter of 2022
  - Revenue: $8.4 million
  - Net income: $19.6 million
  - Result: preliminary results
  source text: Quarter 2022 and Recent Highlights ● Completed transformational acquisition of Spruce Power, a leader in residential solar, on September 9, 2022 ● Reported total revenue of $8.4 million in 3Q22, including $5.1 million of partial-quarter contribution from Spruce Power ● Exited 3Q22 with more than 51,000 customers; combined portfolio generated 134 million MWh of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1772720/000121390022070592/0001213900-22-070592-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.