Filing Flows › Spruce Power Holding (SPRU) › Q2 2026 › vs Q1 2026
Spruce Power Holding (SPRU) Q2 2026 vs Q1 2026 (quarter over quarter)
Spruce Power Holding's revenue rose $6.9M (+30%) from $23.4M in Q1 2026 to $30.3M in Q2 2026. The biggest changes: PPA revenues +$4.6M (+61%); Solar renewable energy credit revenues +$1.9M (+46%); SLA revenues +$283K (+3%). Operating margin 32.2% against 16.4% (+15.8 pts).
Spruce Power Holding, Q2 2026: revenue $30.3M (-9% year over year), operating margin 32.2%, net earnings $3.3M, operating cash flow −$3.2M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 32.2% | 16.4% | +15.8 pts |
| Net margin | 10.9% | -12.5% | +23.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| PPA revenues | $12.2M | $7.6M | $4.6M | +61% |
| SLA revenues | $10.3M | $10.0M | $283K | +3% |
| Solar renewable energy credit revenues | $6.1M | $4.2M | $1.9M | +46% |
| Other revenue | $1.0M | $1.0M | $24K | +2% |
| Servicing revenues | $382K | $213K | $169K | +79% |
| Performance-based incentives | $214K | $332K | −$118K | -36% |
| Intangibles amortization, unfavorable solar renewable energy revenue agreements | $93K | $93K | $0 | 0% |
| Revenue | $30.3M | $23.4M | $6.9M | +30% |
| Operating profit | $9.8M | $3.8M | $5.9M | +154% |
| Costs & expenses | $20.6M | $19.6M | $1.0M | +5% |
| Pre-tax earnings | $3.5M | −$2.9M | $6.3M | — |
| Other expense, net | $6.3M | $6.7M | −$401K | -6% |
| SG&A | $11.3M | $11.6M | −$301K | -3% |
| Other operating costs | $9.3M | $8.0M | $1.3M | +16% |
| Net earnings | $3.3M | −$2.9M | $6.2M | — |
| Minority interests | $154K | $70K | $84K | +120% |
| Operating cash sources | $14.4M | $8.3M | $6.1M | +74% |
| Depreciation & amortization | $7.7M | $7.5M | $187K | +2% |
| Share-based compensation | $163K | $1.0M | −$850K | -84% |
| Cash used in operations | $3.2M | $2.7M | $531K | +20% |
| Working capital & other | $14.4M | $8.3M | $6.1M | +74% |
Questions
How much did Spruce Power Holding's revenue grow quarter over quarter in Q2 2026?
Spruce Power Holding's revenue rose $6.9M (+30%) from $23.4M in Q1 2026 to $30.3M in Q2 2026.
What drove Spruce Power Holding's revenue change in Q2 2026?
PPA revenues +$4.6M (+61%); Solar renewable energy credit revenues +$1.9M (+46%); SLA revenues +$283K (+3%).