Spruce Power Q4 revenue $15.7M, net loss $30.4M; initiates 2024 guidance

SPRUCE POWER HOLDING CORP

Q4 revenue $15.7M vs $18.1M YoY; core operating expenses fell to $17.9M from $31.3M.
Net loss attributable to stockholders $30.4M; Operating EBITDA $9.9M.
Added ~25K customer contracts in 2023, ending with over 75K home solar assets and contracts.
2024 guidance: Operating EBITDA $68-86M, Adjusted Free Cash Flow $0-5M.
Legacy XL Fleet settlements: SEC $11M paid, class action $15M paid, ~$1.8M accrued for three other lawsuits.

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 fourth quarter and year ended December 31, 2023 results: revenue $15.7 million, net income $30.4 million. Guidance initiated.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $15.7 million
Net income: $30.4 million
Guidance: initiated
Result: reported results

Exact text from the filing

Revenues totaled $15.7 million for the fourth quarter of 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SPRUCE POWER HOLDING CORP updated its 2024 guidance (initiated).

Period: 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

Initiated 2024 Operating EBITDA guidance between $68 - $86 million and 2024 Adjusted Free Cash Flow guidance between $0 - $5 million.

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51 earnings releases filed in the last 30 days. Browse all earnings releases →

SPRUCE POWER HOLDING CORP filing history →

Source: SEC EDGAR

accession 0001628280-24-011262

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