Spruce Power Q1 2026: Operating income $3.8M vs ($1.7M) loss YoY, cash $85.6M

Revenues totaled $23.4 million for the first quarter of 2026 , compared with $23.8 million for the first quarter of 2025. Revenues for the first quarter are in line with prior year revenues, representing stable asset performance. Total operating expenses were $19.6 million for the first quarter of 2026, compared to $25.5 million for the first quarter of 2025. The year-over-year decline in operating expense is attributed primarily to a decrease in operations and maintenance costs and ongoing cost management efforts implemented in the third quarter 2025. Core Operating Expenses, which includes both SG&A expenses and O&M expenses was $12.7 million in the aggregate for the first quarter of 2026, down from $18.6 million in the year-earlier period. This includes $11.6 million of SG&A expenses and O&M expenses of $1.2 million in the first quarter of 2026, down from SG&A expense of $14.7 million and O&M expense of $3.9 million for the first quarter of 2025. The decreases in both total operatin