Highest-materiality recent filing
Director Ja-chin Audrey Lee resigns from Spruce Power board effective June 17, 2026
Ja-chin Audrey Lee resigned immediately as a Class C director on June 17, 2026.
Spruce Power Q1 2026: Operating income $3.8M vs ($1.7M) loss YoY, cash $85.6M
Revenue $23.4M flat YoY; net loss narrowed to $2.9M ($0.16/sh) from $15.3M ($0.84/sh).
Spruce Power extends shareholder proposal deadline to April 30, 2026
Company further extends deadline for shareholder proposals and director nominations for 2026 annual meeting.
Spruce Power reports record 2025: operating income $17.9M, Op EBITDA $80.1M up 49%
Q4 revenue $24.0M (+19% YoY); full-year revenue up 36%; net loss $6.9M in Q4, $26.0M in FY.
Spruce Power extends shareholder proposal deadline for annual meeting to April 3, 2026
Shareholder proposals and director nominations now due by April 3, 2026.
Spruce Power appoints Thomas Cimino as permanent CFO, effective immediately
Thomas Cimino appointed permanent CFO effective December 1, 2025; had served as interim since June 2025.
Spruce Power Q3 revenue $30.7M (+44% YoY); Operating EBITDA $26.2M (+48%)
Revenue $30.7M (+44% YoY); Operating EBITDA $26.2M (+48% YoY).
Spruce Power cuts 19% of workforce, closes Denver office for $20M annual savings
Reduction in force of ~40 employees/contractors (19% of workforce); one-time severance charge ~$1M in Q3 2025.
Spruce Power acquires 7 solar systems from NJR Clean Energy for $0.2M
Acquired 7 residential solar energy systems from NJR Clean Energy Ventures II (CEV) on Sept 5, 2025.
Spruce Power Q2 revenue up 48% to $33.2M, net loss narrows to $3.0M
Revenue $33.2M (+48% YoY); Operating EBITDA $24.6M (+71%). Net loss narrowed to $3.0M ($0.16 loss per share).
Acquired 18 solar energy systems from CEV (NJR subsidiary) for approx. $0.5M cash.
Spruce Power elects Shawn Kravetz to board; Kevin Griffin retires; all proposals passed
Shareholders elected three Class B directors: Chris Hayes, Clara Nagy McBane, Shawn Kravetz.
Spruce Power acquires 25 solar systems from NJR subsidiary for $0.7M
Acquired 25 solar energy systems from CEV on June 10, 2025, for approx. $0.7M in cash.
Spruce Power appoints Thomas Cimino as Interim CFO after Sarah Wells departure
Former CFO Sarah Wells departed to pursue a private company opportunity; permanent CFO search underway.
Spruce Power corrects Q1 2025 results: revenue $23.8M, net loss $15.3M
Revenue $23.8M (+30% YoY); Operating EBITDA $12.3M (+15% YoY).
Spruce Power announces $50M share repurchase program; new authorization begins May 15, 2025
Board authorized up to $50M in common stock repurchases through May 15, 2027.
Spruce Power Q1 2025: Revenue $23.8M (+30% YoY), EBITDA $12.3M, net loss $15.3M
Revenue $23.8M (+30% YoY) driven by Nov 2024 NJR acquisition; Operating EBITDA $12.3M (+15% YoY).
Spruce Power CFO Sarah Wells resigns effective May 14, 2025; interim CFO to be appointed
Sarah Wells resigns as CFO and Head of Sustainability, effective May 14, 2025, to pursue other opportunities.
Spruce Power acquires 66 residential solar systems from NJR Clean Energy Ventures for $1.7M cash
Acquired 66 solar energy systems from CEV on April 24, 2025 for approximately $1.7 million in cash.
Spruce Power appoints CohnReznick as independent auditor effective April 7, 2025
CohnReznick appointed as Spruce Power's independent auditor effective April 7, 2025 after completing client acceptance procedures.
Spruce Power dismisses Deloitte as auditor; material weaknesses disclosed in internal controls
Deloitte dismissed effective March 31, 2025, after completing FY2024 audit.
Spruce Power Q4 revenue $20.2M, net loss $5.9M; portfolio grows to 85k assets
Q4 2024 revenue $20.2M (+29% YoY); Operating EBITDA $10.8M; net loss $5.9M.
Spruce Power acquires additional 42 solar systems from NJR subsidiary for ~$1.0M
Acquired 42 additional solar energy systems from NJR Clean Energy Ventures II Corp for ~$1.0M cash.
Spruce Power files audited FY2024 revenue of $31.9M for acquired 9,800-system NJ solar portfolio
Acquired ~9,800 residential solar systems from NJR Clean Energy Ventures for $132.5M cash; financed with $22.2M cash and $109.8M term loan.
Spruce Power dismisses Deloitte as auditor, appoints CohnReznick after FY2024 audit completion
Deloitte & Touche dismissed effective upon completing FY2024 audit; CohnReznick LLP appointed subject to client acceptance.
Spruce Power acquires 41 residential solar systems from NJR Clean Energy for $0.5M
Completion of additional acquisition of 41 solar energy systems from CEV (NJR subsidiary) for $0.5M cash.
Acquisition adds ~13% to total home solar assets and contracts, bringing total to ~85,000.
Spruce Power agrees to pay $4.75M to settle class action from SPAC merger
Company to pay $4.75M to settlement fund to resolve consolidated class action in Delaware Chancery Court.
Spruce Power Q3 net loss $53.5M; cuts 2024 EBITDA guidance to $57-62M
Revenue of $21.4M (down 8% YoY), net loss $53.5M, Operating EBITDA $17.7M.
Court approves derivative settlement; awards $1M attorney fees
Massachusetts Court approved settlement of three shareholder derivative actions on Aug 8, 2024.
Spruce Power annual meeting results: directors elected, auditor ratified, say-on-pay passes
John Miller elected with 2,991,034 for, 2,559,254 withhold; Eric Tech with 3,761,567 for, 1,788,799 withhold.
Spruce Power Q2 revenue $22.5M, net loss $8.6M; guidance maintained but trending lower
Q2 2024 revenue $22.5M (down from $22.8M YoY); net loss $8.6M; Operating EBITDA $14.4M.
Spruce Power closes $130M non-recourse debt facility refinancing SP4 loan
Credit Agreement with Barings for $130M at 6.889%, maturing April 2042; Anticipated Repayment Date Dec 2027.
Spruce Power appoints new director, resolves activist situations with Clayton and Esplanade
Appointed Clara Nagy McBane as independent Class B director; board expands to seven members.
Spruce Power Q1 revenue $18.3M, net loss $2.5M; reaffirms 2024 guidance
Revenue of $18.3M, up from $18.1M YoY; Operating EBITDA of $10.7M.
Spruce Power proposes settlement of derivative shareholder litigation; hearing July 31, 2024
Court preliminarily approved stipulation on April 22, 2024; final fairness hearing set for July 31, 2024.
Spruce Power appoints Christopher Hayes as CEO, Audrey Lee as director effective April 12
Christopher Hayes, previously Chair, appointed CEO and President, effective April 12, 2024, succeeding Christian Fong.
Chris Hayes appointed CEO and President effective April 12, 2024; remains Chairman of the Board.
Spruce Power Q4 revenue $15.7M, net loss $30.4M; initiates 2024 guidance
Q4 revenue $15.7M vs $18.1M YoY; core operating expenses fell to $17.9M from $31.3M.
Spruce Power to pay $19.5M to settle securities class action; court preliminarily approved
Company funds ~$15.5M; D&O insurers expected to fund ~$4M of $19.5M total settlement.
Spruce Power regains NYSE minimum bid price compliance
Received NYSE notice on Nov 17, 2023 confirming compliance with Section 802.01C of NYSE Listed Company Manual.
Spruce Power Q3 revenue record $23.3M; net loss $19.3M; settles legacy XL Fleet matters
Record quarterly revenue of $23.3M; net loss attributable to stockholders of $19.3M.
Spruce Power announces 1-for-8 reverse stock split approved by stockholders
Reverse stock split at 1-for-8 ratio approved at special meeting on October 2, 2023.
Spruce Power settles SEC probe over pre-merger sales pipeline claims; pays $11M penalty
SEC issued cease-and-desist order resolving inquiry into misleading statements about XL Fleet's $220M sales pipeline.
Spruce Power Q2 record net income $3.1M; revenue $22.8M; 72k+ solar assets
Q2 revenue $22.8M vs Q1 $18.1M; net income $3.1M vs Q1 loss $19.4M.
Spruce Power completes SS Holdings acquisition; audited financials show $6.8M net income
Acquisition of SS Holdings closed March 23, 2023; financials filed in 8-K/A.
Spruce Power shareholders elect 3 directors, ratify Deloitte, approve say-on-pay
Christian Fong re-elected with 55.5M for, 1.9M withhold; Jonathan Ledecky and Eric Tech also elected.
Spruce Power Q1 revenue $18.1M, net loss $19.4M; adds 22,500 solar contracts
Revenue $18.1M, net loss $19.4M, adjusted EBITDA $4.7M for Q1 2023.
Spruce Power names Sarah Weber Wells CFO, effective May 19, 2023; Donald Klein departs
Sarah Weber Wells appointed CFO, effective May 19, 2023; she will also continue as Head of Sustainability.
Spruce Power completes engagement of Deloitte as new independent auditor, replacing Marcum
On April 19, 2023, Deloitte completed client acceptance procedures and Spruce executed an engagement letter.
The Board of Directors of the Company has appointed Mr. Cimino as the Company’s Interim Chief Financial Officer to serve as the Company’s principal financial officer and principal accounting officer effective June 5, 2025.
On April 29, 2025 , Sarah Wells notified Spruce Power Holding Corporation (the “Company”) of her decision to resign as Chief Financial Officer and Head of Sustainability, effective May 14, 2025.
the Board appointed Ms. McBane to serve as a Class B director on the Board
Mr. Hayes succeeds Christian Fong, whose separation from the Company and resignation as a director is effective as of the Transition Date.
On April 12, 2024, the Board of Directors of the Company appointed Mr. Christopher Hayes, as Chief Executive Officer and President of the Company, effective April 12, 2024
John Miller, Chair of Nominating and Governance Committee and the newly appointed Lead Director of the Board
appointed Mr. Christopher Hayes, as Chief Executive Officer and President of the Company, effective April 12, 2024
Mr. Hayes succeeds Christian Fong, whose separation from the Company and resignation as a director is effective as of the Transition Date.
On May 11, 2023, Spruce Power Holding Corporation (the "Company") announced that effective on May 19, 2023, Sarah Weber Wells is appointed as Chief Financial Officer.
Donald Klein's position as Chief Financial Officer of the Company is terminated effective May 19, 2023, consistent with the previously announced transition from XL Fleet to Spruce Power executive management.
Christian Fong was appointed as Chief Executive Officer of Spruce Power Holding Corporation (the "Company").
Eric Tech resigned as Chief Executive Officer of the Company effective February 1, 2023.
Max materiality 0.80 · Median 0.65 · Most common event earnings