---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-039824"
form_type: "8-K"
ticker: "SPRU"
cik: "0001772720"
company_name: "SPRUCE POWER HOLDING CORP"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:23:05.824847+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-23-039824
- form_type: 8-K
- ticker: SPRU
- cik: 0001772720
- company_name: SPRUCE POWER HOLDING CORP
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1772720/000121390023039824/0001213900-23-039824-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772720/000121390023039824/ea178623-8k_sprucepower.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-039824
- JSON: https://secwatch.observer/filing/0001213900-23-039824.json
- Plain text: https://secwatch.observer/filing/0001213900-23-039824.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1772720/000121390023039824/0001213900-23-039824-index.htm

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