SPRU 8-K SEC Filing Analysis

Latest settled — T+5d

SPRU ▼ -2.63% at T+5d

NEUTRAL call ✗ call lost -2.63% · α vs SPY -1.91% · entry $3.04 → $2.96

Next anchor: T+20d in 2d

Currently $3.00 · -1.32% from $3.04 entry

Entry anchored
May 14, 12:51 PM ET
via Databento tick

T+1d

-6.58%

call -6.58% · α -5.35%

$2.84

settled 26d ago

T+5d

-2.63%

call -2.63% · α -1.91%

$2.96

settled 20d ago

T+20d

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call — · α —

—

in 2d

T+60d

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call — · α —

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in 2mo

Price Chart

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Executive Summary

Spruce Power Q1 2026 revenue was $23.4M, flat YoY (down ~1.7%), while operating income improved to $3.8M from a $1.7M loss. Net loss narrowed to $2.9M ($0.16/share) from $15.3M ($0.84) a year ago, and Operating EBITDA rose 49% to $18.4M. No numerical guidance was provided; the quarter shows continued cost discipline but a lack of top-line growth keeps the outlook uncertain.

Actionable Insight

Revenue stagnation and absence of guidance suggest limited near-term catalysts. Watch for refinancing progress on SP1 facility and any update on the $42M buyback authorization. The stock trades at a deep discount to cash ($4.71/share vs ~$3.35), but historical momentum is poor. Next catalyst likely Q2 2026 earnings.

Key Facts

Revenue $23.4M vs $23.8M YoY (-1.7%), essentially flat
Operating income $3.8M vs -$1.7M YoY, marking the second consecutive quarter of positive operating income
Net loss attributable to stockholders $2.9M ($0.16/share) vs $15.3M ($0.84) YoY
Operating EBITDA $18.4M, up 49% from $12.3M
Cash balance $85.6M ($4.71/share); total debt $687.3M, with $8.2M repaid in Q1
No share repurchases during the quarter; $42M remaining under buyback authorization
Gross portfolio value (PV6) $840M, down from $848M at year-end 2025

Financial Impact

Q1 2026 revenue $23.4M (flat YoY), net loss narrowed to $2.9M from $15.3M, Operating EBITDA up 49% to $18.4M.

revenuenet lossoperating incomeoperating EBITDAcash

Risk Factors

Revenue flat YoY; no growth catalysts visible
High debt load ($687M) despite non-recourse structure
Continuing net losses, albeit narrowing
Micro-cap liquidity and low analyst coverage (0% bullish consensus)
Historical price action shows persistent downward drift

Market Snapshot

Exchange

NYSE

Sector

Electric Services

Analyst Consensus

0% bullish (6 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001628280-26-034941
Document: spru-20260513.htm	0001628280-26-034941
Document: 0001628280-26-034941-index-headers.html	0001628280-26-034941
Document: 0001628280-26-034941-index.html	0001628280-26-034941
Document: 0001628280-26-034941.txt	0001628280-26-034941
8-K Data (Synthetic)	0001628280-26-034941

3 reports for SPRU

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for SPRU — sortable, filterable
	Type				Now
May 14, 2026 26d ago	8-K MIXED ★ 5/10	$3.04 $2.96	▼ −2.63%	▼ −1.91%	$3.00 (−1.32%)
Apr 3, 2026 9w ago	8-K NEUTRAL ★ 2/10	$4.13 $4.00	▼ −3.15%	▼ −7.28%	$3.00 (−27.36%)
Mar 30, 2026 10w ago	8-K BULLISH ★ 8/10	$4.10 $4.03	▼ −1.71%	▼ −5.65%	$3.00 (−26.83%)

US Market Status

Market Closed — Opens Thu (9h 37m)

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