Filing Flows › Spruce Power Holding (SPRU) › Q4 2025
Spruce Power Holding (SPRU) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Spruce Power Holding (SPRU) reported revenue of $24.0M for the fourth quarter 2025 (Q4 2025), +19% from a year earlier and -22% from the quarter before. Operating margin was 9.4%, net loss $6.8M (28.4% of revenue).
Spruce Power Holding, Q4 2025: revenue $24.0M (+19% year over year), operating margin 9.4%, net loss $6.8M, operating cash flow −$3.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.0M | -22% | +19% |
| Operating profit | $2.2M | -74% | — |
| Net earnings | −$6.8M | — | — |
| Operating cash flow | −$3.3M | -129% | — |
What changed
Revenue was $24.0M in Q4 2025, up 19% year over year and down 22% from the previous quarter.
Operating profit was $2.2M, a 9.4% margin (up 41.2 points year over year). Total costs fell 18% while revenue rose 19%. The quarter ended with a net loss of $6.8M, wider than the previous quarter's $714K loss. Net interest and other expense of $9.1M was the main reason.
Operating cash flow was −$3.3M. Non-cash charges added back $7.3M of depreciation and amortization and $839K of share-based compensation. Working capital and other items used $4.7M. Capital expenditures of $1K exceeded it, leaving free cash flow of −$3.3M.
Questions
What was Spruce Power Holding's revenue in the fourth quarter 2025?
Spruce Power Holding (SPRU) reported revenue of $24.0M for the fourth quarter 2025 (Q4 2025), +19% from a year earlier and -22% from the quarter before.
Was Spruce Power Holding profitable in the fourth quarter 2025?
Operating profit was $2.2M (9.4% of revenue) and net loss $6.8M.