Spruce Power Q2 record net income $3.1M; revenue $22.8M; 72k+ solar assets

SPRUCE POWER HOLDING CORP

2023-Q2 EPS reported -$0.11 revenue$40,908,000

Q2 revenue $22.8M vs Q1 $18.1M; net income $3.1M vs Q1 loss $19.4M.
Adjusted EBITDA plus lease proceeds $13.8M; business cash inflows annual run rate $110-130M.
Executed LOI to acquire 2,400 home solar assets, expected close Q3 2023; total assets >75,000.
Board approved 1:8 reverse stock split to comply with NYSE; shareholder vote in October.
Repurchased 1.9M shares at $0.87 avg in Q2; $46.8M remaining under $50M buyback program.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SPRUCE POWER HOLDING CORP reported the second quarter ended June 30, 2023 results: revenue $22.8 million, net income $3.1 million. Guidance initiated.

Period: the second quarter ended June 30, 2023
Revenue: $22.8 million
Net income: $3.1 million
Guidance: initiated
Result: reported results

Exact text from the filing

Reported 2Q revenue of $22.8 million, net income attributable to stockholders of $3.1 million, and adjusted EBITDA, together with proceeds from investment in lease agreement, of $13.8 million.

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Source: SEC EDGAR

accession 0001213900-23-065620

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