Want to see SPRU full AI Analyst Report?
Top Page
Spruce Power Holding
(NYSE:SPRU)
Select Model
Select Model
Rating:46Neutral
Price Target:
$2.00
▼(-7.83% Downside)
Action:Reiterated
Date:08/26/26
The score is held down primarily by high leverage and weak cash flow despite improved operating profitability, alongside a bearish technical trend. The earnings call adds some support due to clear cost reductions and EBITDA growth, but refinancing and going-concern timing risk remain key overhangs; valuation is constrained by ongoing losses and no dividend support.
Positive Factors
Operating efficiency
Higher operating EBITDA and sustained O&M and SG&A reductions indicate meaningful efficiency gains. If retained, these changes can strengthen margins and improve the earnings profile of the contracted solar portfolio over the next several quarters.
Negative Factors
High leverage and refinancing risk
Debt remains very large relative to equity, limiting financial flexibility and increasing sensitivity to refinancing terms. The going concern disclosure shows that maturity management is a material structural risk, even after the SP1 extension.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating efficiency
Higher operating EBITDA and sustained O&M and SG&A reductions indicate meaningful efficiency gains. If retained, these changes can strengthen margins and improve the earnings profile of the contracted solar portfolio over the next several quarters.
Read all positive factors
Spruce Power Holding (SPRU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$36.96M
Dividend YieldN/A
Average Volume (3M)30.05K
Price to Earnings (P/E)―
Beta (1Y)1.16
Revenue Growth9.77%
EPS Growth90.31%
CountryUS
Employees159
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)-0.43
Shares Outstanding19,252,186
10 Day Avg. Volume20,381
30 Day Avg. Volume30,046
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)0.77
Price to Sales (P/S)0.82
P/FCF Ratio-24.52
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Spruce Power Holding Business Overview & Revenue Model
Company Description
XL Fleet Corp. specializes in delivering electrification solutions tailored for commercial vehicle fleets across North America. Their product portfolio features hybrid electric drive systems, which integrate an electric motor positioned on the veh...
How the Company Makes Money
Spruce Power primarily makes money from cash flows generated by residential solar systems it owns and operates under long-term customer contracts. Key revenue streams typically include: (1) recurring customer payments under legacy residential sola...
Spruce Power Holding Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful operational progress: strong margin expansion, large reductions in O&M and SG&A, a 49% increase in operating EBITDA, and a materially improved net loss, supported by a stable customer base and a solid cash balance. Offsetting these positives are a slight year-over-year revenue decline driven by weather, lower noncash amortization and customer buyouts, a going concern disclosure tied to the near‑term maturity classification of the SP1 facility, and substantial outstanding debt that requires successful refinancing. Management has secured an SP1 extension and is actively pursuing refinancing, which partially mitigates financing risk but leaves execution uncertainty. Overall, operational and profitability improvements are significant and appear to outweigh the financing and timing headwinds noted.Positive Updates
Strong Operating EBITDA Growth
Operating EBITDA of $18.4M in Q1 2026, up 49% year-over-year from $12.3M in Q1 2025, driven by margin expansion and operational efficiencies.
Negative Updates
Modest Revenue Decline
Revenue of $23.4M in Q1 2026, down from $23.8M in Q1 2025 (≈1.7% decline). Decline attributable to lower noncash amortization from acquired solar agreements, lower PPA revenue due to weather impacts and customer buyouts.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Operating EBITDA Growth
Operating EBITDA of $18.4M in Q1 2026, up 49% year-over-year from $12.3M in Q1 2025, driven by margin expansion and operational efficiencies.
Read all positive updates
Company Guidance
Management said its full‑year 2026 outlook remains generally consistent with prior expectations and they expect full‑year operating EBITDA to be in line with budget (Q1 operating EBITDA was $18.4M, +49% YoY), with lower Q1 O&M and collections being offset by higher servicing activity and collections in the second half; O&M is expected to increase sequentially through the year but remain generally in line with full‑year expectations (Q1 O&M $1.2M, down 70% YoY) and SG&A run‑rate should continue to improve (Q1 SG&A $11.6M, down 21% YoY). They continue to advance refinancing initiatives—SP1 maturity extended to October 2026 with a potential extension to January 2027 pending a signed term sheet—and highlighted liquidity and balance sheet metrics of $85.6M total cash (≈$50M unrestricted), $668M total debt with a blended interest rate of ~6.6% (including hedges), $8.2M of debt repaid in the quarter, and a contracted customer base of ~84,000.Spruce Power Holding Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
23
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 108.52M | 111.81M | 82.11M | 79.86M | 23.19M | 0.00 |
| Gross Profit | 71.49M | 72.91M | 42.13M | 42.05M | 13.24M | 0.00 |
| EBITDA | 68.57M | 55.47M | -8.56M | 1.03M | -34.82M | 52.64M |
| Net Income | -7.33M | -26.03M | -70.49M | -65.83M | -93.93M | 28.79M |
Balance Sheet | ||||||
| Total Assets | 818.40M | 837.27M | 898.48M | 895.02M | 895.90M | 393.22M |
| Cash, Cash Equivalents and Short-Term Investments | 44.66M | 54.84M | 72.80M | 141.35M | 240.14M | 351.68M |
| Total Debt | 667.23M | 681.89M | 711.07M | 625.68M | 503.01M | 142.00K |
| Total Liabilities | 695.48M | 716.02M | 752.33M | 680.35M | 606.93M | 31.41M |
| Stockholders Equity | 120.40M | 118.83M | 143.71M | 212.34M | 279.95M | 361.81M |
Cash Flow | ||||||
| Free Cash Flow | 67.00K | -3.75M | -42.16M | -34.16M | -63.49M | -52.13M |
| Operating Cash Flow | 104.00K | -3.53M | -41.81M | -33.66M | -63.49M | -48.49M |
| Investing Cash Flow | 28.82M | 24.78M | -101.41M | -16.73M | -29.01M | -14.83M |
| Financing Cash Flow | -37.84M | -37.25M | 79.43M | -16.81M | -19.19M | 85.36M |
Spruce Power Holding Technical Analysis
Neutral
2.17
Price Trends
2.30
Negative
2.83
Negative
3.78
Negative
Market Momentum
-0.10
Negative
51.68
Neutral
57.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPRU, the sentiment is Neutral. The current price of 2.17 is above the 20-day moving average (MA) of 2.04, below the 50-day MA of 2.30, and below the 200-day MA of 3.78, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 51.68 is Neutral, neither overbought nor oversold. The STOCH value of 57.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SPRU.
Spruce Power Holding Risk Analysis
Spruce Power Holding disclosed 1 risk factors in its most recent earnings report. Spruce Power Holding reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Spruce Power Holding Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $12.67M | -2.28 | -62.97% | ― | 232.69% | ― | |
51 Neutral | $32.37M | -1.64 | -73.59% | ― | -20.49% | 43.15% | |
46 Neutral | $36.96M | -4.51 | -11.21% | ― | 9.77% | 90.31% | |
41 Neutral | $16.46M | -2.58 | 42.25% | ― | 309.46% | 71.90% |
* Technology Sector Average
SPRU
Spruce Power Holding
2.14
0.60
38.96%
BEEM
Beam Global
1.36
-1.56
-53.42%
TURB
Turbo Energy, S.A. Sponsored ADR
1.15
-1.17
-50.43%
SMXT
SolarMax Technology, Inc.
2.76
-12.13
-81.49%
Spruce Power Holding Corporate Events
Shareholder Meetings
Spruce Power Adjourns 2026 Annual Shareholder Meeting
Neutral
Aug 11, 2026
On August 11, 2026, Spruce Power Holding Corporation held its 2026 annual meeting of stockholders, where shareholders approved a proposal allowing the meeting to be adjourned if necessary. With 11,832,946 votes in favor and 890,184 against, the co...
Executive/Board Changes
Spruce Power Announces Major Legal Leadership Transition
Neutral
Jul 17, 2026
Spruce Power Holding Corporation has appointed Bobby L. Owens as General Counsel, effective July 13, 2026, reflecting a leadership change in the company’s legal function. Owens brings extensive experience from prior roles at OXEA Corporation...
Executive/Board Changes
Spruce Power Holding Announces Board Director Resignation
Neutral
Jun 24, 2026
On June 17, 2026, Spruce Power Holding Corporation announced the immediate resignation of director Ja-chin Audrey Lee from the company’s board. Lee had been serving as a Class C director with a term scheduled to expire at the 2026 Annual Mee...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.