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Spruce Power Holding cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$3.2M in Q2 2026 · $2.0M over twelve months

Operating cash flow−$3.2M
Free cash flow−$3.2M
Cash / net income-0.9×

Analysis

In Q2 2026, Spruce Power Holding generated −$3.2M of operating cash flow. That is $788K less than in Q2 2025 (−$2.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was $2.0M; the largest uses were net borrowing (+) / repaid (−) ($37.5M), other financing ($1.9M), acquisitions ($790K); besides operations, cash came from other investing ($23.7M), asset & business sales ($5.9M); the cash balance fell by $8.9M.

Operating cash flow was −$3.2M against net income of $3.5M — -0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$7.7M, receivables −$7.1M, inventory −$633K.

Free cash flow

Spruce Power Holding: free cash flow by quarterSpruce Power Holding: free cash flow by quarter−$1.1MQ3 2024−$13.6MQ4 2024−$9.2MQ1 2025−$2.4MQ2 2025$11.2MQ3 2025−$3.3MQ4 2025−$2.7MQ1 2026−$3.2MQ2 2026
Operating cash flow less capital spending.
Spruce Power Holding: operating cash flow against capital spendingSpruce Power Holding: operating cash flow against capital spendingOperating cash flowCapital spending−$1.1M$32KQ3 2024−$13.5M$172KQ4 2024−$9.1M$87KQ1 2025−$2.3M$97KQ2 2025$11.2M$36KQ3 2025−$3.3M$1KQ4 2025−$2.7M$0Q1 2026−$3.2M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$3.2M, Capital spending $0.

Capital allocation, year by year

Spruce Power Holding: where the cash came from (up) and went (down), by fiscal yearSpruce Power Holding: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$48.5MFY2021: Shares issued $230KFY2021: Capital spending −$3.6M$230KFY2021FY2022: Operating cash flow −$63.5MFY2022: Net borrowing −$9.5MFY2022: Shares issued $600KFY2022: Asset sales $2.3MFY2022: Acquisitions −$32.6M$2.9MFY2022FY2023: Operating cash flow −$33.7MFY2023: Net borrowing −$11.6MFY2023: Shares issued $1.1MFY2023: Asset sales $6.3MFY2023: Capital spending −$499KFY2023: Acquisitions −$43.1MFY2023: Buybacks −$5.4M$7.3MFY2023FY2024: Operating cash flow −$41.8MFY2024: Net borrowing $83.9MFY2024: Asset sales $6.1MFY2024: Capital spending −$354KFY2024: Acquisitions −$133MFY2024: Buybacks −$853K$90.0MFY2024FY2025: Operating cash flow −$3.5MFY2025: Net borrowing −$35.1MFY2025: Shares issued $100KFY2025: Asset sales $5.6MFY2025: Capital spending −$221KFY2025: Acquisitions −$5.3MFY2025: Buybacks −$1.8M$5.7MFY2025
Over these 5 years operating cash flow totalled −$191M; the largest uses were acquisitions ($214M) and operating cash flow ($191M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$44.7M
Debt$680M
Net debt$635M
Due within a year$214M
Cash runway3.5 years

Spruce Power Holding is burning cash: its operations consume cash, a free cash flow of −$12.9M a year at the current rate against $44.7M of cash and investments: a runway of about 3.5 years; $214M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Spruce Power Holding: debt maturities by year (FY2025)Spruce Power Holding: debt maturities by year (FY2025)$214MYear 1$221MYear 2$21.0MYear 3$22.2MYear 4$144MYear 5$73.8MAfter year 5
Principal due in each year as disclosed in the annual report, against $44.7M of cash and investments now.

Where the cash came from and went

Spruce Power Holding: sources (+) and uses (−) of cash, Q2 2026Spruce Power Holding: sources (+) and uses (−) of cash, Q2 2026Net borrowing (+) / repaid (−)−$7.9MOther investing$5.5MCash drawn (+) / kept (−)$4.1MOperating cash flow−$3.2MAsset & business sales$1.5MOther financing$135KPartners−$56K
Spruce Power Holding: sources (+) and uses (−) of cash, TTM to Q2 2026Spruce Power Holding: sources (+) and uses (−) of cash, TTM to Q2 2026Net borrowing (+) / repaid (−)−$37.5MOther investing$23.7MCash drawn (+) / kept (−)$8.9MAsset & business sales$5.9MOperating cash flow$2.0MOther financing−$1.9MAcquisitions−$790KPartners−$325KCapital spending−$37K

From profit to cash

Spruce Power Holding: net income to operating cash flow, Q2 2026Spruce Power Holding: net income to operating cash flow, Q2 2026Net income$3.5MDepreciation & amortization$7.7MStock-based pay$163KGains on disposals−$468KReceivables−$7.1MInventory−$633KPayables$274KDeferred revenue$615KPrepaid and other assets$181KOther liabilities$57KOperating cash flow−$3.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026−$3.2M———−$7.9M$4.1M−$3.2M
Q1 2026−$2.7M———−$8.2M$7.5M−$2.7M
Q4 2025−$3.3M−$1K−$514K—−$10.1M$5.6M−$3.3M
Q3 2025$11.2M−$36K−$276K—−$11.4M−$8.3M$11.2M
Q2 2025−$2.3M−$97K−$2.9M−$1.0M−$6.7M$6.0M−$2.4M
Q1 2025−$9.1M−$87K−$1.6M−$808K−$6.8M$12.7M−$9.2M
Q4 2024−$13.5M−$172K−$133M−$853K$99.7M$40.8M−$13.6M
Q3 2024−$1.1M−$32K——−$9.0M$228K−$1.1M

Spruce Power Holding: income statement and cash flow

Spruce Power Holding, Q2 2026: revenue $30.3M (-9% year over year), operating margin 32.2%. The chart follows the revenue to costs, profit and cash.

Spruce Power Holding: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.