Filing Flows › Spruce Power Holding (SPRU) › Q2 2026 › vs Q2 2025
Spruce Power Holding (SPRU) Q2 2026 vs Q2 2025 (year over year)
Spruce Power Holding's revenue fell $2.9M (-9%) from $33.3M in Q2 2025 to $30.3M in Q2 2026. The biggest changes: Performance-based incentives −$1.4M (-87%); Solar renewable energy credit revenues −$1.1M (-15%); Intangibles amortization, unfavorable solar renewable energy revenue agreements −$655K (-88%). Operating margin 32.2% against 26.7% (+5.5 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 32.2% | 26.7% | +5.5 pts |
| Net margin | 10.9% | -8.9% | +19.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| PPA revenues | $12.2M | $12.1M | $90K | +0.7% |
| SLA revenues | $10.3M | $10.0M | $319K | +3% |
| Solar renewable energy credit revenues | $6.1M | $7.2M | −$1.1M | -15% |
| Other revenue | $1.0M | $836K | $210K | +25% |
| Servicing revenues | $382K | $730K | −$348K | -48% |
| Performance-based incentives | $214K | $1.6M | −$1.4M | -87% |
| Intangibles amortization, unfavorable solar renewable energy revenue agreements | $93K | $748K | −$655K | -88% |
| Revenue | $30.3M | $33.3M | −$2.9M | -9% |
| Operating profit | $9.8M | $8.9M | $887K | +10% |
| Costs & expenses | $20.6M | $24.4M | −$3.8M | -16% |
| Pre-tax earnings | $3.5M | −$2.9M | $6.3M | — |
| Other expense, net | $6.3M | $11.8M | −$5.5M | -46% |
| SG&A | $11.3M | $15.2M | −$4.0M | -26% |
| Other operating costs | $9.3M | $9.1M | $159K | +2% |
| Net earnings | $3.3M | −$3.0M | $6.3M | — |
| Minority interests | $154K | $99K | $55K | +56% |
| Operating cash sources | $14.4M | $7.5M | $6.9M | +92% |
| Depreciation & amortization | $7.7M | $7.6M | $141K | +2% |
| Share-based compensation | $163K | $569K | −$406K | -71% |
| Cash used in operations | $3.2M | $2.3M | $885K | +38% |
| Working capital & other | $14.4M | $7.5M | $6.9M | +92% |
Questions
How much did Spruce Power Holding's revenue grow year over year in Q2 2026?
Spruce Power Holding's revenue fell $2.9M (-9%) from $33.3M in Q2 2025 to $30.3M in Q2 2026.
What drove Spruce Power Holding's revenue change in Q2 2026?
Performance-based incentives −$1.4M (-87%); Solar renewable energy credit revenues −$1.1M (-15%); Intangibles amortization, unfavorable solar renewable energy revenue agreements −$655K (-88%).