---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-038691"
form_type: "8-K"
ticker: "SPRU"
cik: "0001772720"
company_name: "SPRUCE POWER HOLDING CORP"
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T05:19:19.818715+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Spruce Power Q3 revenue record $23.3M; net loss $19.3M; settles legacy XL Fleet matters

## Summary
- Record quarterly revenue of $23.3M; net loss attributable to stockholders of $19.3M.
- Adjusted EBITDA plus lease proceeds was $14.9M; adjusted net loss $1.2M.
- Portfolio grew to over 75,000 home solar assets (+49% YoY) after acquiring 2,400 contracts.
- Accrued $11M SEC settlement and $19.5M class-action settlement; both related to XL Fleet Corp.
- Repurchased 0.5M shares at avg $7.04; cash of $192.7M; FY business cash inflow guidance $120-130M.

## SEC filing metadata
- accession: 0001628280-23-038691
- form_type: 8-K
- ticker: SPRU
- cik: 0001772720
- company_name: SPRUCE POWER HOLDING CORP
- filed_at: 2023-11-13T23:59:59+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/1772720/000162828023038691/0001628280-23-038691-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772720/000162828023038691/spru-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-038691
- JSON: https://secwatch.observer/filing/0001628280-23-038691.json
- Plain text: https://secwatch.observer/filing/0001628280-23-038691.txt

## Key facts
- Earnings Releases
  SPRUCE POWER HOLDING CORP reported third quarter ended September 30, 2023 results: revenue $23.3 million, net income Net loss attributable to stockholders was $19.3 million for the third quarter of 2023. Guidance reaffirmed.
  - Period: third quarter ended September 30, 2023
  - Revenue: $23.3 million
  - Net income: Net loss attributable to stockholders was $19.3 million for the third quarter of 2023
  - Guidance: reaffirmed
  - Result: reported results
  source text: assets across the United States, today reported financial results for the quarter ended September 30, 2023. Business Highlights • Third quarter revenue reaches a record level of $23.3 million. • By acquiring over 2,400 customer contracts in the third quarter, Spruce has grown its home solar assets and contracts to over 75,000, representing growth of 49%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1772720/000162828023038691/0001628280-23-038691-index.htm

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