Spruce Power (SPRU)
Owns and maintains home solar systems while managing customer contracts and third-party portfolios.
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Revenue comes from long-term leases or electricity-sales agreements, solar renewable-energy credits, and Spruce Pro servicing for third-party-owned systems. The company is a US-focused portfolio owner and servicer rather than a solar installer.
Owns and maintains residential solar systems for US homeowners, collecting cash flows through long-term leases or electricity-sales agreements. It also sells solar renewable-energy credits tied to its portfolio.
Spruce Pro services solar systems owned by third parties, adding portfolio management beside the company's owned assets. The current business followed the 2022 acquisition of Legacy Spruce Power and exit from the former XL Fleet drivetrain operations. Customer retention, system performance and maintenance, financing and cash-flow ownership, renewable-energy-credit arrangements, and third-party servicing shape the model. The portfolio and its customer contracts are concentrated in the United States.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $44.7M · Total debt $667.2M · Total assets $818.4M · Shareholders' equity $120.4M
- Revenue
- $30.3M
- Operating income
- $9.3M
- Net income
- $3.3M
No dividends on record.
| Institutions | 35.10% | 6.45M shares | |
|---|---|---|---|
| 47 holders · as of Jun 30, 2026 | |||
| Insiders | 20.85% | 3.83M shares | |
| 16 holders · as of Sep 21, 2026 | |||
| Other | 44.05% | 8.09M shares | |
| remainder | |||
18.37M company shares as of Sep 19, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Steel Partners Holdings L.P.Institution | 18.67% | 3.43M | as of Jun 30, 2026 |
JPMorgan Chase & CoInstitution | 4.21% | 773,005 | as of Jun 30, 2026 |
Christopher M. HayesInsiderdirector, officer: President & CEO | 3.78% | 695,037 | filed May 14, 2025 |
Vanguard Capital Management LLCInstitution | 3.53% | 648,066 | as of Jun 30, 2026 |
Shawn W. KravetzInsiderdirector | 2.76% | 506,882 | filed May 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | Jonathan McWhinnie Norling | officer: Chief Legal Officer | −15,000 | $2.84 |
| Apr 20, 2026 | Steel Partners Holdings L.P. | 10 percent owner | +24,335 | $4.13 |
| Apr 15, 2026 | Steel Partners Holdings L.P. | 10 percent owner | +10,463 | $4.09 |
| Apr 16, 2026 | Steel Partners Holdings L.P. | 10 percent owner | +141 | $4.10 |
| Apr 17, 2026 | Steel Partners Holdings L.P. | 10 percent owner | +3,640 | $4.03 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Spruce Power | $2.03 | −0.49% | $37.5M | — | — | 0.3 | −8.7% |
| Sunrun | $8.84 | +0.51% | $2.10B | 5.9 | 13.8 | 0.6 | +52.8% |
| Tesla | $379.02 | +0.99% | $1.48T | 347.5 | 183.9 | 14.3 | +25.5% |
| Enphase Energy | $34.54 | −0.65% | $4.59B | 34.8 | 17.7 | 3.5 | −19.6% |
| SolarEdge Technologies | $36.12 | +1.43% | $2.17B | — | 130.1 | 1.6 | +19.6% |
| Median | 34.8 | 73.9 | 2.5 | +22.6% |