Spruce Power Holding Corp income statement
In fiscal 2025, Spruce Power Holding Corp reported revenue of $112m, up 36.2% on the year before, operating income of $17.9m (a 16.0% margin) and net income of −$26.0m, or −$1.44 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7 | 20 | 0 | 23 | 80 | 82 | 112 | 109 |
| Cost of revenue | 8 | 18 | 16 | 10 | 38 | — | — | — |
| Gross profit | −1 | 3 | −1 | 13 | 42 | — | — | — |
| Research and development | 3 | 4 | 11 | — | — | — | — | — |
| Selling, general and administrative | 10 | 14 | 35 | 73 | 56 | 59 | 55 | 49 |
| Operating income | −14 | −15 | −35 | −59 | −37 | −50 | 18 | 24 |
| Interest expense | 0 | 0 | 0 | 11 | 42 | 40 | 51 | 51 |
| Net interest income | −2 | −6 | −0 | −10 | — | — | — | — |
| Income tax | — | — | — | — | — | — | 0 | 0 |
| Net income | −15 | −61 | 29 | −94 | −66 | −70 | −26 | −7 |
| Diluted EPS | −$1.52 | −$0.72 | $0.19 | −$5.27 | −$3.58 | −$3.82 | −$1.44 | −$0.38 |
| Diluted shares (average) | 10m | 11m | 19m | 18m | 18m | 18m | 18m | 19m |
| EBITDA | −13 | −15 | −35 | −53 | −15 | −26 | 48 | 55 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21 | 20 | 24 | 33 | 31 | 24 | 23 | 30 |
| Cost of revenue | 10 | — | — | — | — | — | — | — |
| Gross profit | 12 | — | — | — | — | — | — | — |
| Selling, general and administrative | 14 | 15 | 15 | 15 | 13 | 13 | 12 | 11 |
| Operating income | −37 | −6 | −2 | 9 | 8 | 2 | 4 | 10 |
| Interest expense | 11 | 10 | 13 | 13 | 13 | 13 | 12 | 13 |
| Income tax | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −54 | −6 | −15 | −3 | −1 | −7 | −3 | 3 |
| Diluted EPS | −$2.88 | −$0.32 | −$0.84 | −$0.17 | −$0.05 | −$0.38 | −$0.16 | $0.15 |
| EBITDA | −29 | −0 | 6 | 16 | 16 | 10 | 11 | 17 |
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