---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-025583"
form_type: "8-K"
ticker: "SPRU"
cik: "0001772720"
company_name: "SPRUCE POWER HOLDING CORP"
filed_at: "2025-05-14T23:59:59+00:00"
generated_at: "2026-05-21T09:28:43.878910+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Spruce Power Q1 2025: Revenue $23.8M (+30% YoY), EBITDA $12.3M, net loss $15.3M

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-025583
- form_type: 8-K
- ticker: SPRU
- cik: 0001772720
- company_name: SPRUCE POWER HOLDING CORP
- filed_at: 2025-05-14T23:59:59+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/1772720/000162828025025583/0001628280-25-025583-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772720/000162828025025583/spru-20250514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-025583
- JSON: https://secwatch.observer/filing/0001628280-25-025583.json
- Plain text: https://secwatch.observer/filing/0001628280-25-025583.txt

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