Spruce Power Holding Corp Stock Price, News & Analysis

Spruce Power (NYSE: SPRU) reported its Q1 2025 financial results, showing revenue growth of 30% year-over-year to $23.8 million. Despite this growth, the company recorded a net loss of $15.3 million. Operating EBITDA increased 15% to $12.3 million compared to the previous year. The company maintains a strong cash position of $96.5 million.

The growth was primarily driven by the November 2024 acquisition of residential solar assets from NJR Clean Energy Ventures. Spruce's portfolio now includes approximately 85,000 home solar assets across 18 U.S. states, with an additional 60,000 residential solar systems serviced through Spruce PRO. The company's gross portfolio value stands at $901.0 million, with total debt of $723.8 million at a 6.0% blended interest rate.

During Q1 2025, Spruce repurchased 0.3 million shares at an average price of $2.70 per share, with $43.0 million remaining in its authorized buyback program.

Spruce Power (NYSE: SPRU) reported its Q1 2025 financial results, showing revenue growth of 30% year-over-year to $23.8 million. The company posted a net loss of $15.3 million and Operating EBITDA of $12.3 million, up 15% from the previous year. The growth was primarily driven by the November 2024 acquisition of residential solar assets from NJR Clean Energy Ventures.

As of March 31, 2025, Spruce manages approximately 85,000 home solar assets across 18 U.S. states and services about 60,000 third-party systems through Spruce PRO. The company maintains a strong balance sheet with $96.5 million in total cash and $723.8 million in non-recourse debt. During Q1, Spruce repurchased 0.3 million shares at an average price of $2.70 per share, with $43.0 million remaining in its buyback program.

Spruce Power (NYSE: SPRU) has announced a new $50 million share repurchase program authorized by its board of directors. The program will run from May 15, 2025, to May 15, 2027, following the expiration of its current buyback program. The company will execute repurchases through various means, including open market transactions and Rule 10b5-1/10b-18 trading plans.

Under its previous repurchase program (May 15, 2023 - May 12, 2025), Spruce bought back 1,870,827 shares at a weighted average price of $4.33 per share. The new program's implementation will be discretionary, with timing and purchase amounts determined by management based on market conditions and alternative opportunities.

Spruce Power Holding Corporation (NYSE: SPRU) announced that Chief Financial Officer Sarah Wells will resign effective May 14, 2025, to pursue other opportunities. The company plans to appoint an interim CFO before Wells' departure and is conducting a search for a permanent replacement. CEO Chris Hayes emphasized the search for a successor with capital markets expertise and experience in operational efficiencies and growth strategies. The company confirmed its first quarter 2025 earnings webcast will proceed as scheduled on May 14, 2025, at 4:30 p.m. ET.

Spruce Power (NYSE: SPRU), a leading distributed solar energy assets operator in the United States, will release its first quarter 2025 financial results on Wednesday, May 14, 2025, after market close. The company will host a conference call and webcast for investors and analysts at 4:30 PM ET/2:30 PM MT on the same day.

Interested parties can access the conference call by dialing (646) 307-1963 with Conference ID 3699222. A webcast will also be available. A replay of the call will be accessible until May 28, 2025, by dialing 800-770-2030 using the same conference ID.

Spruce Power Holding (NYSE: SPRU) has appointed Chris Hayden as Senior Vice President of IT and Enterprise Applications. Hayden will lead the advancement of Spruce's service platform, scale the Spruce PRO service offering, and drive innovation across IT functions including strategy, infrastructure, application development, and security.

With over 25 years of experience in digital business innovation and strategic IT planning, Hayden previously served as Chief Technology Officer and Executive Vice President at Sunnova Energy. His prior roles include Chief Information Officer at STREAM and IT leadership at TXU Energy. He began his career as a management consultant at Capgemini and Ernst & Young.

Spruce Power (NYSE: SPRU) has announced a new partnership with Hot Purple Energy to monetize Solar Renewable Energy Credits (SRECs) in California. Through this agreement, Spruce will handle SREC registration and monetization with the Western Renewable Energy Generation Information System (WREGIS) for Hot Purple's solar generation assets.

The partnership is part of Spruce's broader initiative to capture unrealized SREC benefits for installers and C&I operators. Spruce is among few companies approved to monetize SREC revenue across California's three largest utility zones. The typical contracts will generate approximately 7 years of cash flow, with Spruce managing monthly production reporting and SREC sales.

The company views this as a low-cost, low-risk opportunity to generate high-margin cash flow, leveraging recent California market changes that have made SREC registration financially rewarding for the first time, similar to mature SREC markets on the East Coast.

Spruce Power (NYSE: SPRU) reported Q4 2024 financial results with revenues of $20.2 million, up from $15.7 million in Q4 2023, and a net loss of $5.9 million. Operating EBITDA reached $10.8 million.

The company expanded its portfolio by acquiring approximately 9,800 home solar assets from NJR Clean Energy Ventures, growing its total asset base to roughly 85,000 home solar systems across 18 U.S. states. Customer satisfaction improved to 83% in 2024 from 74% in 2023.

Key financial metrics include:

• Total operating expenses: $26.7 million
• Liquidity position: $72.8 million in unrestricted cash
• Total debt: $730.6 million at 6.0% blended interest rate
• Gross portfolio value: $910.0 million

Notable developments include launching Spruce Pro and securing a servicing agreement with ADT for approximately 60,000 residential solar systems.

Spruce Power (NYSE: SPRU), a leading owner and operator of distributed solar energy assets across the United States, has rescheduled its fourth quarter and full-year 2024 earnings conference call. The company will now release its financial results after market close on March 31, followed by a conference call and webcast for investors and analysts at 2:30 P.M. MDT. A replay of the conference call will be available until April 11, 2025.