SPRU · Spruce Power Holding Corp
$1.63
+0.07 (+4.36%)
At close · Oct 6
Return incl. dividend (before tax)
Going-concern doubt
— flagged Aug 13, 2026
Substantial doubt about the company's ability to continue as a going concern.
“Because (i) the Amended SP1 Maturity Date and the SP2 Maturity Date are within twelve months from the date the accompanying unaudited condensed consolidated financial statements are issued, (ii) the Company has not yet entered into a commitment to refinance the SP1 or SP2 Facility, (iii) the Company has determined that it is unlikely to have sufficient cash on hand or proceeds from currently available liquidity sources to satisfy the SP1 Facility at the Amended SP1 Maturity Date or the SP2 Facility at the SP2 Maturity Date, (iv) the Company had negative working capital of $175.0 million as of June 30, 2026 due to the current maturity of the SP1 Facility and SP2 Facility, and (v) the Company has experienced recurring net losses and negative cash flows from operations for the six months ended June 30, 2026 and 2025, these conditions raise substantial doubt about the Company's ability to continue as a going concern.”View the 10-Q filed Aug 13, 2026
Market Cap
$37.35M
Shares
19.25M
Volume · Oct 6
21.76K
Avg daily vol (3M)
100.43K
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$1.56
Open$1.56
Day$1.48–1.61
52W close$1.53–6.46
Avg vol 30d158K
Short int845K · 4.4% float · 12.5d
Short vol63%
Last earningsAug 12, 2026
DataJan 2020–Oct 2026
Filing10-Q · Aug 13
Up next
Next earnings call
Nov 12, 2026
Est · unconfirmed
· in 5 wks
filed Aug 13, 2026
call held Aug 12, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
—
Trailing 12 months
Net income (TTM)
—
Trailing 12 months
Revenue growth YoY
—
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
—
Year over year · more shares
Price change (1Y)
-40.2%
Trailing year
Short interest
4.4%
Latest settlement · 12.5 days to cover
AI Brief
Q2 FY26 earnings call · Aug 12, 2026
Q2 FY26
TL;DR. Spruce Power maintained full-year guidance while cost reductions lifted operating income 10% to $9.8 million, operating EBITDA to a record $26.5 million, and net income to $3.3 million despite a revenue decline. Liquidity and leverage improved, but near-term refinancing remains unresolved, with SP1 and SP2 maturities contributing to a going-concern disclosure.
Bullish
- + Operating EBITDA reached a record $26.5 million, up 7% year over year.
- + Net income attributable to stockholders improved to $3.3 million from a $3.0 million loss.
- + Core operating expenses fell 21% to $13.8 million and SG&A declined 26%.
- + The company generated $4.8 million of adjusted cash flow from operations, reduced debt principal by $7.9 million, and ended with $81.5 million of cash and restricted cash.
Bearish
- − SP1 and SP2 maturities within 12 months, without committed refinancing arrangements, required a going-concern disclosure and caused negative reported working capital.
- − Refinancing remains critical because SP1 matures January 30, 2027 and SP2 matures May 14, 2027, with no assurance of transaction timing, terms, or completion.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Strong Sell
SellHoldBuy
Technical
Sell
Momentum
Very Weak
Sentiment
Neutral
Fundamentals
Fair
Quant / Vol
Very High
Market backdrop
VIX 15.5 · calm
Equity put/call 0.59
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−53%
below
Price vs 50-day avg
−18%
below
RSI (14)
37
neutral
MACD trend
Negative
52-week position
1%
near low
Volume (OBV)
Bullish div.
accumulating
Momentum
relative strength
1-month return
−12%
trailing
6-month return
−61%
trailing
YTD return
−69%
this year
Relative strength
−73%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $2 › 200d $3 — 200d above 50d
Institutional flow
Distributing
-2% holders QoQ · +5 funds added
Insider flow
Accumulating
Net +$107.7K over 90 days · 0% sells
Short interest
Rising
4.39% of float · ▲ +0.6% MoM · 12.5 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
46 holders — mid 3-yr range
Squeeze score
62
elevated · 0–100
Fundamentals
Gross margin
-3%
EPS growth
+62%
Y/Y
Free cash flow
$-3.8M
Buyback
$42.0M
remaining
Balance sheet
$621.9M
net debt
Quant / Vol
risk profile
Volatility
99%
annualized · 1-yr
Max drawdown
−76%
past year
ATR
9.8%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Nov 13, 2023
Business cash inflows
· annual run rate basis
$120M – $130M
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−53%
Bearish
Price vs 50-day avg
−18%
Bearish
RSI (14)
37
Neutral
MACD trend
Negative
Bearish
52-week position
1%
Bearish
Volume (OBV)
Bullish div.
Bullish
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
No cross
50d $2 › 200d $3 — 200d above 50d
Institutional flow
Distributing
-2% holders QoQ · +5 funds added
Insider flow
Accumulating
Net +$107.7K over 90 days · 0% sells
Short interest
Rising
4.39% of float · ▲ +0.6% MoM · 12.5 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
46 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $2
Now $2 · 1%
Range high $6
vs 200-day avg -53%
vs 50-day avg -18%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| customer satisfaction score | 80% | the three months ended June 30, 2026 filing | — |
| MWh of power generated by portfolio | 196K | the three months ended June 30, 2026 filing | — |
| Adjusted Cash Flow from Operations non-GAAP | 7.41M | Six Months Ended June 30, 2026 | — |
| Adjusted EBITDA non-GAAP | 17.75M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP EBITDA 18.68M
-4K Net (income) loss from discontinued operations
-468K Gain on asset disposal, net
-1.9M Change in fair value of interest rate swaps
+0K Meter upgrade campaign
+263K Other one-time costs
+926K Stock based compensation
+161K Bad debt expense
+88K Accretion expense
= Adjusted EBITDA 17.75M
|
|||
| Contracted Portfolio Value | $693M | As of June 30, 2026 | — |
| Core Operating Expenses non-GAAP | $13.8M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Cost of revenues - operations and maintenance 2.51M
+11.28M Selling, general and administrative expenses
= Core Operating Expenses 13.79M
|
|||
| debt principal paid down | $7.9M | Q2 2026 | — |
| EBITDA non-GAAP | 18.68M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) attributable to stockholders 3.32M
+154K Net income attributable to noncontrolling interests
-4.82M Interest income
+12.87M Interest expense, net
+7.16M Depreciation and amortization
= EBITDA 18.68M
|
|||
| Gross Portfolio Value | $802M | As of June 30, 2026 | — |
| gross portfolio value (PV6 basis) non-GAAP | $802M | Q2 2026 | — |
| home solar assets and customer contracts | 83,000 | Q2 2026 | — |
| Operating EBITDA non-GAAP | $26.5M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Adjusted EBITDA 17.75M
+5.74M Proceeds from investment in master lease agreement, net
+2.5M Proceeds from buyouts / prepayments
+475K Interest earned on cash investments
= Operating EBITDA 26.47M
|
|||
| remaining authorized share repurchase capacity | $42M | Q2 2026 | — |
| Renewal Portfolio Value | $74M | As of June 30, 2026 | — |
| third-party owned home solar systems serviced | 60,000 | Q2 2026 | — |
| Uncontracted Renewable Energy Credits | $35M | As of June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Solar — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SPRU
this stock
Spruce Power Holding Corp
|
$37.35M | -69.4% | +36.2% | — | 4.4% |
|
FSLR
First Solar, Inc.
|
$19.10B | -32.6% | +24.1% | 11.0 | 9.8% |
|
NXT
Nextpower Inc.
|
$12.27B | -4.8% | +20.3% | 20.9 | 5.8% |
|
ENPH
Enphase Energy, Inc.
|
$4.41B | +4.4% | +10.7% | 33.1 | 18.1% |
|
SMTGF
SMA Solar Technology AG/ADR
|
$2.32B | +76.2% | — | — | 0.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SPRU | -13.8% | -12.4% | -61.5% | -8.8% | -69.4% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -15.0% | -13.0% | -73.1% | -10.4% | -83.0% |
Capital returns
Buyback program
· as of Dec 31, 2025
Authorized
$50.00M
Spent (derived)
$8.00M
Remaining
$42.00M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.