Spruce Power Q3 net loss $53.5M; cuts 2024 EBITDA guidance to $57-62M

SPRUCE POWER HOLDING CORP

2024-Q3 EPS reported -$3.50 revenue$61,881,000

Revenue of $21.4M (down 8% YoY), net loss $53.5M, Operating EBITDA $17.7M.
2024 guidance cut: Operating EBITDA $57-62M (from $68-86M); Adjusted FCF ($12)-($7)M.
Signed LOI to acquire ~10,000 home solar assets; expected close Q4 2024, portfolio to reach ~85,000.
Cash $113.7M; debt $631M at 5.9%; $44.7M remains under share repurchase program.

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