SPRUCE POWER HOLDING (SPRU) Company Report

Thomas Cimino has been appointed Chief Financial Officer of Spruce Power Holding Corporation, effective immediately.
Cimino had served as Interim CFO since June 2025 and formally executed his employment agreement on December 3, 2025, with his regular employment as CFO beginning on December 1, 2025.
His compensation package includes an annual salary of $350,000, an annual short-term incentive bonus target of 75% of his annual salary, a sign-on equity grant of 60,000 shares, and a long-term incentive grant of $311,250 in restricted stock units.

3 days ago

Spruce Power Reports Strong Q3 2025 Results with Revenue and EBITDA Growth

SPRU

Earnings

Revenue Acceleration/Inflection

Layoffs

Spruce Power reported Q3 2025 revenues of $30.7 million, a 44% increase from the prior year, and Operating EBITDA of $26.2 million, up 48% year-over-year.
Net loss attributable to stockholders improved significantly to $(0.9) million in Q3 2025, compared to $(53.6) million in the year-earlier period.
The company's total cash balance reached $98.8 million as of September 30, 2025, or $5.44 per share.
Cost management efforts led to a 53% year-over-year decline in O&M expense to $1.8 million and a 4% decline in SG&A expense to $12.9 million, with a strategic initiative announced for workforce reduction and office closure.
Spruce Power is proactively engaged in discussions regarding its SP1 debt obligation due in Q2 2026 and has $42.0 million remaining under its share repurchase program.

Nov 12, 2025, 2:02 PM

Spruce Power Reports Strong Q3 2025 Financial Performance and Strategic Growth

SPRU

Earnings

Revenue Acceleration/Inflection

M&A

Spruce Power reported strong Q3 2025 financial results, with revenue up 44% year-over-year to $30.7 million and Operating EBITDA up 48% to $26.2 million, primarily due to the November 2024 acquisition of approximately 9,800 rooftop assets and sizable growth in solar renewable energy credits (SREC) revenue. The company achieved positive free cash flow, increasing total cash to $98.8 million.
The company significantly reduced core operating expenses (SG&A and O&M), which totaled $14.8 million in Q3 2025, down 15% from the prior year period, and expects approximately $20 million in annual savings from recent cost reduction initiatives.
Spruce is actively pursuing growth through three key opportunities: opportunistic acquisitions of installed systems, programmatic off-take partnerships, and expanding its Spruce Pro third-party servicing business.
Spruce Power generated a net loss attributable to stockholders of $860,000 in Q3 2025, a significant improvement from a $53.5 million loss in the prior year period.

Nov 11, 2025, 9:30 PM

Spruce Power Reports Strong Q3 2025 Revenue and EBITDA Growth

SPRU

Earnings

Revenue Acceleration/Inflection

Debt Issuance

Spruce Power reported third quarter 2025 revenues of $30.7 million, a 44% increase from the prior year, and Operating EBITDA of $26.2 million, up 48%.
The company significantly improved its net loss attributable to stockholders, reporting $(0.9) million for Q3 2025, compared to $(53.6) million in the year-earlier period.
Cash generated from operations was $11.2 million, with Adjusted Cash Flow from Operations reaching $20.2 million, a 104% increase year-over-year, contributing to a total cash balance of $98.8 million as of September 30, 2025.
Spruce Power achieved meaningful cost reductions, with Operations & Maintenance (O&M) expense down 53% to $1.8 million and Selling, General and Administrative (SG&A) expense down 4% to $12.9 million compared to the year-earlier period.
The company is proactively engaged in discussions with financial institutions regarding its SP1 debt obligation due in Q2 2026 and has $42.0 million remaining under its authorized common share repurchase program as of September 30, 2025.

Nov 11, 2025, 9:05 PM

Spruce Power Announces Operational Streamlining and Cost Reduction Plan

SPRU

Layoffs

Guidance Update

New Projects/Investments

Spruce Power Holding Corporation (SPRU) has announced transformative steps to streamline operations, including workforce adjustments and the closure of its Denver office, aimed at improving operational efficiency and driving long-term profitability.
These initiatives are expected to generate approximately $20 million in annualized savings by reducing SG&A expense, which the company believes will accelerate its path to positive free cash flow.
The reduction in force, approved on September 16, 2025, will impact approximately 40 employees and contractors, representing about 19% of the company's workforce.
Spruce Power anticipates incurring charges of approximately $1 million for employee severance and related costs, with the majority expected to be recognized in the third quarter of 2025.