# Spruce Power Holding Corporation (SPRU)

**Exchange:** NYSE  
**Sector:** Technology  
**Market cap:** $53M  
**Price:** $2.95 (-1.67%)

> Spruce Power Holding Corporation is a leading owner and operator of distributed solar energy assets across the United States, with over 75,000 residential home solar systems in its portfolio. The company generates revenue through subscription-based electricity services to homeowners and businesses, offering clean solar energy typically at savings compared to traditional utility rates. Spruce Power also generates income from solar renewable energy credits (SRECs) at contracted prices. Beyond its direct solar asset ownership, the company operates the Spruce Pro platform, which provides comprehensive portfolio management services to approximately 5,000 third-party-owned residential, commercial, and industrial solar systems. These services include billing and collections, account management, financial reporting, homeowner support, maintenance monitoring, and SREC transaction services. Founded in 2009 and headquartered in Denver, Colorado, Spruce Power employs approximately 165 people and operates within the renewable energy sector as a significant player in the transition to clean energy.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $112M | — | $18M | -$26M | — |
| 2024 | $82M | — | -$50M | -$70M | — |
| 2023 | $80M | $42M | -$37M | -$66M | — |
| 2022 | $23M | $13M | -$59M | -$94M | — |
| 2021 | — | -$696,000 | -$35M | $29M | — |
| 2020 | $20M | $3M | -$15M | -$61M | — |
| 2019 | $7M | -$860,000 | -$14M | -$15M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $837M | $716M | $119M | $55M | $696M |
| 2024 | $898M | $752M | $144M | $73M | $731M |
| 2023 | $895M | $680M | $215M | $141M | $647M |
| 2022 | $827M | $538M | $289M | $220M | $533M |
| 2021 | $393M | $31M | $362M | $352M | $21,000 |
| 2020 | $347M | $158M | $189M | $330M | $98,000 |
| 2019 | $9M | $23M | -$14M | — | $2M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$4M | $221,000 | -$4M |
| 2024 | -$42M | $354,000 | -$42M |
| 2023 | -$34M | $499,000 | -$34M |
| 2022 | -$63M | — | -$63M |
| 2021 | -$48M | $4M | -$52M |
| 2020 | -$20M | $145,000 | -$20M |
| 2019 | -$12M | $28,000 | -$12M |

Source: [CompaniesByCap](https://companiesbycap.com/company/SPRU)