Spruce Power Q1 revenue $18.1M, net loss $19.4M; adds 22,500 solar contracts

SPRUCE POWER HOLDING CORP

2023-Q1 EPS reported -$0.13 revenue$18,095,000

Revenue $18.1M, net loss $19.4M, adjusted EBITDA $4.7M for Q1 2023.
Added 22,500 residential solar contracts through Spruce Power 4 acquisition; total >72,000 assets.
New $50M share repurchase program authorized through May 2025.
Sarah Wells to become CFO effective May 19, 2023.
Unrestricted cash $173M; total cash $205M, debt $652M as of March 31, 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SPRUCE POWER HOLDING CORP reported first quarter ended March 31, 2023 results: revenue $18.1 million, net income $19.4 million.

Period: first quarter ended March 31, 2023
Revenue: $18.1 million
Net income: $19.4 million
Result: reported results

Exact text from the filing

over 72,000 ● Announced a new common share repurchase program for the repurchase of up to $50 million of the Company's outstanding common stock ● Reported 1Q total revenue of $18.1 million, Net Loss of $19.4 million, Adjusted EBITDA of $4.7 million ● Ended quarter with strong liquidity position for future growth and shareholder return initiatives, with $173

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Source: SEC EDGAR

accession 0001213900-23-039824

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