Spruce Power Q1 revenue $18.3M, net loss $2.5M; reaffirms 2024 guidance

SPRUCE POWER HOLDING CORP

2024-Q1 EPS reported -$0.13 revenue$18,287,000

Revenue of $18.3M, up from $18.1M YoY; Operating EBITDA of $10.7M.
Net loss attributable to stockholders of $2.5M; unrestricted cash $120.6M.
Appointed Chris Hayes as CEO; launched Spruce Pro servicing platform.
Reaffirms 2024 Operating EBITDA $68-$86M and Adjusted Free Cash Flow $0-$5M.
Paid $15.0M net in Q1 to settle securities class action; derivative settlement pending.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SPRUCE POWER HOLDING CORP reported the quarter ended March 31, 2024 results: revenue $18.3 million, net income net loss attributable to stockholders of $2.5 million. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $18.3 million
Net income: net loss attributable to stockholders of $2.5 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of distributed solar energy assets across the United States, today reported financial results for the quarter ended March 31, 2024. Business Highlights • Reported 1Q revenue of $18.3 million, net loss attributable to stockholders of $2.5 million and Operating EBITDA of $10.7 million. • Ended quarter with strong liquidity position for future growth, with $120.6

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Source: SEC EDGAR

accession 0001628280-24-023549

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