SPRU News & Events

Reports Q1 revenue $23.4M vs $23.8M last year. Chris Hayes, Chief Executive Officer, commented: "Our first quarter 2026 results confirm that the inflection point we reached last year was only the beginning. Building on the momentum of 2025, Spruce continues to hit its stride, delivering operating income of $3.8 million, up significantly from a loss of $1.7 million in the prior-year period. The cost reductions implemented last fall are embedded in our financial performance. Fundamental shifts in the business, a 70% decline in O&M and a 21% decline in SG&A year-over-year, drove a 49% increase in operating EBITDA. We continue to execute on our commitment to deliver the business and enhance equity value. We ended the quarter with a robust cash position of $85.6 million of cash, or $4.71 per share. This liquidity, combined with our continued commitment to delever the business, paying down $8.2 million of debt this quarter, ensures we have the financial flexibility to drive long-term value while operating from a position of stability. Our focus remains on maximizing the efficiency of our capital structure. Following the deliberate extension of our SP1 facility, we are actively pursuing broader refinancing opportunities across our portfolios. With a streamlined operating model now delivering consistent results and a fortified balance sheet, Spruce is exceptionally well-positioned to convert our long-term contracted cash flows into sustainable shareholder value throughout the remainder of 2026."

Investor sentiment continues to hinge on developments out of the Middle East, and the market is still not buying the latest salvo from President Trump that U.S. negotiators are in "serious discussions" to end the war.  After opening broadly higher, indices ended the day mixed, with S&P 500's decline of 0.4% bringing the benchmark index within a percentage point of an official correction territory.  While the Vix retreated modestly, it remains above the 30 handle, and while Treasury yields saw a sharp reversal from the steel ascend since the start of the Iran campaign, the 10-year is still over 30bps higher as traders remains concerned by the inflationary slowdown as a result of rising energy prices.   Cyclical Industrials and Technology sectors were the worst performers, while defensively-oriented Staples and Utilities outperformed.  In the evening hours, futures are little changed, though commodities are showing continued strain, with WTI Crude Oil futures up for fourth straight session, topping $104 per barrel.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Spruce Powerup 6.0%Progress Softwareup 1.3%DOWN AFTER EARNINGS -Phreesiadown 22.0%CVD Equipmentdown 10.8%Lantern Pharmadown 6.9%ALSO LOWER -PepGendown 44.4% after Phase 2 Freedom trial data

Reports Q4 revenue $24.03M vs $20.23M last year. Chris Hayes, Chief Executive Officer, commented: "2025 was the best year in Spruce's history, and our fourth quarter results reflect a business that is hitting its stride. We delivered strong growth, achieved record EBITDA, and reached a clear inflection point in cash generation, all while fundamentally improving the efficiency of our platform. What is most exciting is that these gains are not one-time in nature. The cost reductions we have achieved-particularly in O&M and SG&A-are structural and position us to continue expanding margins as we scale. We also made meaningful progress strengthening our balance sheet, including repaying $35.1 million of debt during the year, which directly enhances equity value as we continue to delever the business. We exited the year with $93.1 million of cash, or $5.13 per share, giving us significant flexibility as we continue to grow the business and optimize our capital structure. As part of that strategy, we made a deliberate decision to extend our SP1 facility to maximize flexibility as we pursue a broader refinancing opportunity across multiple portfolios. We believe this approach positions us to enhance long-term financing efficiency and support the next phase of growth. With strong momentum, a more efficient operating model, and a growing base of long-term contracted cash flows, we believe Spruce is exceptionally well positioned heading into 2026."

Spruce Power announced that Thomas Cimino has been appointed CFO, effective immediately. Cimino had served as interim CFO since June. Cimino brings more than 25 years of senior financial leadership experience, including CFO roles at Vantage Drilling International and AEI Services.