Filing Flows › Spruce Power Holding (SPRU) › How it makes money
How Spruce Power Holding (SPRU) makes money
Spruce Power Holding (SPRU) made $30.3M of revenue in the second quarter 2026 (Q2 2026), -9% from a year earlier. PPA revenues brought in $12.2M (40%); SLA revenues brought in $10.3M (34%); Solar renewable energy credit revenues brought in $6.1M (20%). Of every dollar of revenue, 32¢ was left as operating profit, 11¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| PPA revenues | $12.2M | 40.2% | +61% | +0.7% |
| SLA revenues | $10.3M | 34.0% | +3% | +3% |
| Solar renewable energy credit revenues | $6.1M | 20.1% | +46% | -15% |
| Other revenue | $1.0M | 3.4% | +2% | +25% |
| Servicing revenues | $382K | 1.3% | +79% | -48% |
| Performance-based incentives | $214K | 0.7% | -36% | -87% |
| Intangibles amortization, unfavorable solar renewable energy revenue agreements | $93K | 0.3% | 0% | -88% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $30.3M | 100.0% |
| Operating profit | $9.8M | 32.2% |
| Net earnings | $3.3M | 10.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $30.3M | -9% |
| Q1 2026 | $23.4M | -2% |
| Q4 2025 | $24.0M | +19% |
| Q3 2025 | $30.7M | +44% |
| Q2 2025 | $33.3M | +48% |
| Q1 2025 | $23.8M | +30% |
| Q4 2024 | $20.2M | +29% |
From Spruce Power Holding's 10-Q filed Aug 13, 2026 (on EDGAR).
Questions
How does Spruce Power Holding make money?
Spruce Power Holding (SPRU) made $30.3M of revenue in the second quarter 2026 (Q2 2026), -9% from a year earlier. PPA revenues brought in $12.2M (40%); SLA revenues brought in $10.3M (34%); Solar renewable energy credit revenues brought in $6.1M (20%). Of every dollar of revenue, 32¢ was left as operating profit, 11¢ was left as net earnings.
What is Spruce Power Holding's biggest business?
PPA revenues: $12.2M in the second quarter 2026, 40% of revenue, +0.7% from a year earlier.
What is Spruce Power Holding's profit margin?
Net earnings were $3.3M, 10.9% of revenue, in the second quarter 2026; the operating margin was 32.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.