SPRUCE POWER HOLDING CORP

For the period ended Dec 31, 2024. Filed Mar 31, 2025.

About this filing

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.

FY2024 · Filed Mar 31, 2025

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.

Consolidated Balance Sheets

	As of December 31,
(In thousands, except share and per share amounts)	2024	2023
Assets
Current assets
Cash and cash equivalents	$72,802	$141,354
Restricted cash	36,346	31,587
Accounts receivable, net of allowance of $0.8 million and $1.7 million as of December 31, 2024 and 2023, respectively	15,010	9,188
Interest rate swap assets, current	6,258	11,333
Prepaid expenses and other current assets	6,014	9,879
Total current assets	136,430	203,341
Investment related to SEMTH master lease agreement	136,942	143,095
Property and equipment, net	589,014	484,406
Interest rate swap assets, non-current	18,414	16,550
Intangible assets, net	8,957	10,196
Deferred rent assets	3,717	2,454
Right-of-use assets, net	4,750	5,933
Goodwill	—	28,757
Other assets	255	257
Long-term assets of discontinued operations	—	32
Total assets	$898,479	$895,021
Liabilities, noncontrolling interests and stockholders’ equity
Current liabilities
Accounts payable	$987	$1,120
Non-recourse debt, current	28,310	27,914
Accrued expenses and other current liabilities	28,125	40,634
Deferred revenue, current	1,194	878
Lease liability, current	892	1,166
Current liabilities of discontinued operations	61	—
Total current liabilities	59,569	71,712
Non-recourse debt, non-current	677,021	590,866
Deferred revenue, non-current	2,790	1,858
Lease liability, non-current	4,848	5,731
Warrant liabilities	—	17
Unfavorable solar renewable energy agreements, net	4,134	6,108
Interest rate swap liabilities, non-current	385	843
Other long-term liabilities	3,540	3,047
Long-term liabilities of discontinued operations	40	170
Total liabilities	752,327	680,352
Commitments and contingencies (Note 16)
Stockholders’ equity:
Common stock, $0.0001 par value; 350,000,000 shares authorized at December 31, 2024 and 2023; 19,403,262 and 18,311,054 shares issued and outstanding at December 31, 2024, respectively, and 19,093,186 and 18,292,536 issued and outstanding at December 31, 2023, respectively	2	2

Additional paid-in capital	478,366	475,654
Accumulated deficit	(328,377)	(257,888)
Treasury stock at cost, 1,092,208 shares and 800,650 at December 31, 2024 and 2023, respectively	(6,277)	(5,424)
Noncontrolling interests	2,438	2,325
Total stockholders’ equity	146,152	214,669
Total liabilities, noncontrolling interests and stockholders’ equity	$898,479	$895,021

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.