earnings
confidence high
sentiment neutral
materiality 0.70
Spruce Power Q1 2025: Revenue $23.8M (+30% YoY), EBITDA $12.3M, net loss $15.3M
SPRUCE POWER HOLDING CORP
2025-Q1 EPS reported
-$0.84
revenue$23,818,000
- Revenue $23.8M (+30% YoY) driven by Nov 2024 NJR acquisition; Operating EBITDA $12.3M (+15% YoY).
- Net loss attributable to stockholders $15.3M; total cash $96.5M; non-recourse debt $723.8M at 6.0% blended rate.
- Repurchased 0.3M shares at $2.70 avg; $43.0M remains under $50M buyback program.
- Spruce PRO signed ADT as first third-party client; servicing 60,000 third-party solar systems as of March 31.
- Portfolio of ~85,000 home solar assets; gross portfolio value $901M (PV6); combined generation 121k MWh in Q1.