SPRUCE POWER HOLDING CORP
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
SPRU$1.51-7.4%Stored close · as of Nov 9, 2026
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Item 1B.
Consolidated Statements of Operations
| Years Ended December 31, | ||
|---|---|---|
| (In thousands, except per share and share amounts) | 2024 | 2023 |
| Revenues | $82,107 | $79,859 |
| Operating expenses: | ||
| Cost of revenues - solar energy systems depreciation | 23,377 | 23,823 |
| Cost of revenues - operations and maintenance | 16,597 | 13,990 |
| Selling, general and administrative expenses | 58,889 | 56,122 |
| Litigation settlements, net | 7,384 | 27,465 |
| Gain on asset disposal | (2,504) | (4,724) |
| Impairment of goodwill | 28,757 | — |
| Total operating expenses | 132,500 | 116,676 |
| Loss from operations | (50,393) | (36,817) |
| Other (income) expense: | ||
| Interest income | (22,758) | (19,534) |
| Interest expense, net | 40,232 | 41,936 |
| Change in fair value of warrant liabilities | (17) | (239) |
| Change in fair value of interest rate swaps | 2,753 | 4,816 |
| Other income, net | (525) | (1,309) |
| Net loss from continuing operations | (70,078) | (62,487) |
| Net income (loss) from discontinued operations (including loss on disposal of $3,083 for the year ended December 31, 2023) | 25 | (4,123) |
| Net loss | (70,053) | (66,610) |
| Less: Net income (loss) attributable to redeemable noncontrolling interests and noncontrolling interests | 436 | (779) |
| Net loss attributable to stockholders | $(70,489) | $(65,831) |
| Net loss from continuing operations per share, basic and diluted | $(3.79) | $(3.40) |
| Net income (loss) from discontinued operations per share, basic and diluted | $— | $(0.22) |
| Net loss attributable to stockholders per share, basic and diluted | $(3.82) | $(3.58) |
| Weighted-average shares outstanding, basic and diluted | 18,470,926 | 18,391,436 |
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