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Spruce Power Holding Corporation (SPRU) reported a significant third-quarter 2025 performance, with its shares surging 73% following the announcement. The company incurred a net loss of 5 cents per share, an improvement from the loss of $2.88 per share reported in Q3 2024. Revenue reached $30.7 million, a 44% increase from $21.4 million year-over-year, primarily driven by the acquisition of a residential solar portfolio and contributions from solar renewable energy credits (SRECs).
For the third quarter, Spruce Power’s net loss attributable to stockholders was $0.9 million, a notable decrease from the $53.5 million loss in the same period last year. Operating EBITDA rose 48% to $26.2 million, while adjusted cash flow from operations more than doubled to $20.2 million, indicating stronger operational performance. The company’s solar asset base includes 85,000 home solar systems across 18 states, generating approximately 190,081 MWh during the quarter.
As of September 30, 2025, Spruce reported $98.8 million in cash, equal to $5.44 per share. Cost containment efforts successfully reduced operating expenses, including a 53% drop in operations and maintenance costs. Looking forward, management reaffirmed its commitment to margin expansion and a $50 million share repurchase program, with $42 million remaining unused.
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