Spruce Power Holding Corp (SPRU) Financial Statements
Industry: Electric Services
In fiscal 2025, Spruce Power reported revenue of $111.8M, up 36.2% from $82.1M the year before. Net income was -$26.0M (a -23.3% net margin), or -$1.44 per diluted share. Gross margin was 16.0% and operating margin was 16.0%. Operating activities generated -$3.5M of cash, leaving -$3.8M of free cash flow. At fiscal year end, Spruce Power held $837.3M in total assets against $716.0M in total liabilities, including $54.8M of cash and equivalents.
Open the full interactive Spruce Power financials → Quarterly statements, key ratios, valuation history and price charts.
Spruce Power Key Stats
| Share Price | $1.50 |
|---|---|
| Market Cap | $32.9M |
| Revenue YoY Growth | +36.2% |
| 52-Week Range | $1.50 – $6.46 |
| Shares Outstanding | 18.6 million (basic, 2026 Q2) |
Spruce Power Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $20.3M | $15.6M | $23.2M | $79.9M | $82.1M | $111.8M |
| Cost of Goods Sold | — | — | — | $116.7M | $132.5M | $93.9M |
| Gross Profit | $2.7M | -$696,000 | — | $42.0M | -$50.4M | $17.9M |
| Operating Income | -$15.3M | -$58.9M | -$59.9M | -$36.8M | -$50.4M | $17.9M |
| Pre-Tax Income | -$25.6M | $28.8M | -$93.9M | -$65.8M | -$70.5M | -$26.0M |
| Income Tax | — | — | — | — | — | $0 |
| Net Income | -$25.6M | $28.8M | -$93.9M | -$65.8M | -$70.5M | -$26.0M |
| Diluted EPS | -$2.40 | $1.52 | -$5.28 | -$3.58 | -$3.82 | -$1.44 |
Spruce Power Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $30.7M | $24.0M | $23.4M | $30.3M |
| Net Income | -$860,000 | -$6.9M | -$2.9M | $3.3M |
| Diluted EPS | -$0.05 | -$0.38 | -$0.16 | $0.15 |
Spruce Power Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | — | $351.7M | $220.3M | $141.4M | $72.8M | $54.8M |
| Current Assets | $345.3M | $374.6M | $275.0M | $203.3M | $136.4M | $115.9M |
| Total Assets | $347.0M | $393.2M | $826.6M | $895.0M | $898.5M | $837.3M |
| Current Liabilities | $9.1M | $16.6M | $59.7M | $71.7M | $59.6M | $238.8M |
| Total Long-Term Debt | $98,000 | $21,000 | $499.8M | $618.8M | $705.3M | $676.8M |
| Total Liabilities | $14.8M | $31.4M | $537.6M | $680.4M | $752.3M | $716.0M |
| Shareholders' Equity | $332.2M | $361.8M | $288.9M | $214.7M | $146.2M | $121.3M |
Spruce Power Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$19.9M | -$48.5M | -$47.7M | -$33.7M | -$41.8M | -$3.5M |
| Cash From Investing | -$145,000 | -$14.8M | — | -$16.7M | -$101.4M | $24.8M |
| Cash From Financing | $346.3M | $85.4M | — | -$16.8M | $79.4M | -$37.3M |
| Free Cash Flow | -$20.0M | -$52.1M | — | -$34.2M | -$42.2M | -$3.8M |
Figures from Spruce Power's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Spruce Power financials page for every line item.
Spruce Power Company Profile
| Ticker | SPRU |
|---|---|
| Exchange | NYSE |
| Industry | Electric Services |
| Headquarters | Houston, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001772720 |
Frequently Asked Questions
What was Spruce Power's revenue in fiscal 2025?
Spruce Power (SPRU) reported revenue of $111.8M for fiscal 2025.
What is Spruce Power's annual revenue history?
Spruce Power's annual revenue by fiscal year: 2020: $20.3M; 2021: $15.6M; 2022: $23.2M; 2023: $79.9M; 2024: $82.1M; 2025: $111.8M.
What was Spruce Power's net income in fiscal 2025?
Spruce Power reported net income of -$26.0M for fiscal 2025.
What was Spruce Power's earnings per share (EPS) in fiscal 2025?
Spruce Power's diluted EPS was -$1.44 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Spruce Power generate in fiscal 2025?
Spruce Power generated -$3.8M of free cash flow in fiscal 2025.
What was Spruce Power's revenue last quarter?
In its most recent reported quarter (2026 Q2), Spruce Power reported revenue of $30.3M.
How much debt does Spruce Power have?
Spruce Power reported $676.8M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Spruce Power are outstanding?
Spruce Power reported a weighted average of 18.6 million basic shares outstanding in 2026 Q2.
What is Spruce Power's market cap?
Based on its latest closing price, Spruce Power (SPRU) has a market capitalization of about $32.9M.
When does Spruce Power's fiscal year end?
Spruce Power's fiscal year end, as registered with the SEC, is December 31.
Where is Spruce Power headquartered?
Spruce Power lists its business address in Houston, Texas in its SEC filings.