Spruce Power revenue exceeds expectations, cost reductions drive performance growth

LootboxPhobia · 2026-03-31T15:16:08+00:00

Spruce Power announced a Q4 revenue of $24 million, a 19% year-over-year increase, reaching a record high, with full-year revenue totaling $111.8 million. Adjusted earnings per share were -$0.38, with operating costs significantly reduced. The CEO stated that 2025 will be the best year, and financial performance continues to improve.

LootboxPhobia

2026-03-31 15:16:08

Abstract generation in progress

Houston - Spruce Power Holding Corporation (NYSE: SPRU) reported fourth-quarter revenue of $24 million, up 19% year over year, driven by portfolio growth and service expansion. For the quarter ended December 31, 2025, the company posted an adjusted loss per share of $0.38.

After the earnings report, the power company’s stock price rose 1.29% in after-hours trading.

This quarter’s revenue exceeded the $20 million from the same period last year, marking the strongest financial performance in the company’s history. Full-year revenue reached $111.8 million, up 36% from $82.1 million in 2024.

The company generated operating income of $17.9 million in 2025, compared with a prior-year loss of $50.4 million. Full-year operating EBITDA grew 49% to $80.1 million, and fourth-quarter operating EBITDA rose 57%.

Core operating expenses fell sharply. In the fourth quarter, operating and maintenance costs declined 64% to $1.9 million, down from $5.3 million in the same period last year.

Selling, general, and administrative expenses decreased 16% from $15.5 million to $13.0 million. The company attributed the cost cuts to the completion of upgraded electric meters and the vertical integration of its service teams in consolidated markets.

“2025 was the best year in Spruce’s history, and our fourth-quarter performance reflects that the business is getting back on track,” said CEO Chris Hayes. “The cost reductions we achieved—especially in operating and maintenance and selling, general, and administrative expenses—are structural, enabling us to continue expanding profit margins as we scale.”

At year-end, Spruce held $93.1 million in cash, or $5.13 per share, including $54.8 million in cash and cash equivalents and $38.3 million in restricted cash. The company repaid $35.1 million of debt in 2025, reducing total outstanding debt to $695.5 million, with a weighted average interest rate of 6.1%.

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