SPRUCE POWER HOLDING CORP

For the period ended Dec 31, 2023. Filed Apr 9, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 9, 2024

SPRU$1.51-7.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1A.

	As of December 31,
(In thousands, except share and per share amounts)	2023	2022
Assets
Current assets
Cash and cash equivalents	$141,354	$220,321
Restricted cash	31,587	19,823
Accounts receivable, net of allowance of $1.7 million and $12.2 million as of December 31, 2023 and 2022, respectively	9,188	8,336
Interest rate swap assets, current	11,333	10,183
Prepaid expenses and other current assets	9,879	5,316
Current assets of discontinued operations	—	10,977
Total current assets	203,341	274,956
Investment related to SEMTH master lease agreement	143,095	—
Property and equipment, net	484,406	396,168
Interest rate swap assets, non-current	16,550	22,069
Intangible assets, net	10,196	—
Deferred rent assets	2,454	1,626
Right-of-use assets, net	5,933	2,802
Goodwill	28,757	128,548
Other assets	257	383
Long-term assets of discontinued operations	32	—
Total assets	$895,021	$826,552
Liabilities, redeemable noncontrolling interests and stockholders’ equity
Current liabilities
Accounts payable	$1,120	$2,904
Non-recourse debt, current	27,914	25,314
Accrued expenses and other current liabilities	40,634	21,509
Deferred revenue, current	878	39
Lease liability, current	1,166	834
Current liabilities of discontinued operations	—	9,097
Total current liabilities	71,712	59,697
Non-recourse debt, non-current	590,866	474,441
Deferred revenue, non-current	1,858	452
Lease liability, non-current	5,731	2,426
Warrant liabilities	17	256
Unfavorable solar renewable energy agreements, net	6,108	—
Interest rate swap liabilities, non-current	843	—
Other long-term liabilities	3,047	10
Long-term liabilities of discontinued operations	170	294
Total liabilities	680,352	537,576
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests	—	85
Stockholders’ equity:

Common stock, $0.0001 par value; 350,000,000 shares authorized at December 31, 2023 and 2022; 19,093,186 and 18,292,536 shares issued and outstanding at December 31, 2023, respectively, and 18,046,903 issued and outstanding at December 31, 2022	2	2
Additional paid-in capital	475,654	473,289
Accumulated deficit	(257,888)	(193,342)
Treasury stock at cost, 800,650 shares and 0 at December 31, 2023 and 2022, respectively	(5,424)	—
Noncontrolling interests	2,325	8,942
Total stockholders’ equity	214,669	288,891
Total liabilities, redeemable noncontrolling interests and stockholders’ equity	$895,021	$826,552

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.