{ "ok": true, "cik": "1772720", "ticker": "SPRU", "name": "Spruce Power Holding Corporation", "filings": [ { "form": "8-K", "filed": "2026-09-16", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828026062216/0001628280-26-062216-index.htm" }, { "form": "8-K", "filed": "2026-08-26", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828026059001/0001628280-26-059001-index.htm" }, { "form": "10-Q", "filed": "2026-08-13", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828026056824/0001628280-26-056824-index.htm" }, { "form": "8-K", "filed": "2026-08-12", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828026056280/0001628280-26-056280-index.htm" }, { "form": "8-K", "filed": "2026-08-11", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828026055655/0001628280-26-055655-index.htm" }, { "form": "8-K", "filed": "2026-07-16", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828026048435/0001628280-26-048435-index.htm" } ], "events12m": 13, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001772720.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1772720" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up Spruce Power Holding Corporation ($SPRU). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-09-16. 13 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2025-04-11.", "auditor": { "changes": [ { "filed": "2025-04-11", "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828025017405/0001628280-25-017405-index.htm" }, { "filed": "2025-04-04", "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828025016624/0001628280-25-016624-index.htm" }, { "filed": "2025-02-05", "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828025004119/0001628280-25-004119-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 111812000, "revenueGrowth1y": 0.36178401354330325, "revenueGrowthPerYear": null, "yearsOfData": 5, "operatingMargin": 0.1604478946803563, "operatingMarginPrior": -0.613747914306941, "netMargin": -0.23277465746073767, "operatingCashFlow": -3530000, "capitalSpending": 221000, "freeCashFlow": -3751000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 54842000, "longTermDebt": 695520000, "longTermDebtChange": -0.04804269244929993, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 0 }, { "fiscalYearEnd": "2022-12-31", "revenue": 23194000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 79859000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 82107000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 111812000 } ], "totalEquity": 121252000, "totalAssets": 837273000, "equityRatio": 0.14481775955990459, "returnOnEquity": -0.21465212944941114, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 134548260.9902375, "high": 216252897.1645831, "baseline": 170573353.1823498, "n": 4309, "band": "b01" }, "ifPaceHeld": { "low": 134548260.9902375, "high": 216252897.1645831 } }, "edgarette": "🔖 Exposure: revenue $111.8M (FY2025), total debt $695.5M. Experience: revenue up 36.2% on the year; operating margin 16.0%, up from -61.4%. Soundness: equity 14.5% of assets, return on equity -21.5%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $134.5M and $216.3M next year (method v3, set from 4,309 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (40 filers, $50M+ revenue, electric services): operating margin 16.0% against a 20.3% median; growth 36.2% against 9.4%.", "peers": { "sic": 4911, "sicDescription": "Electric Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "4911", "growth": [ 0.0937, 40 ], "opMargin": [ 0.2032, 40 ], "equityRatio": [ 0.2453, 26 ], "returnOnEquity": [ 0.0943, 21 ], "payoutRatio": [ 0.5107, 22 ] }, "summary": "Spruce Power Holding (SPRU) grew revenue 36.2% in FY2025 to $112 million, operating margin 16.0% against a 20.3% median for electric services, equity 14.5% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Spruce Power Holding Corporation against its own record and its peers
Operating marginPeer median 20.3%16.0%Revenue, on the yearPeer median 9.4%36.2%Equity of assetsPeer median 24.5%14.5%Return on equityPeer median 9.4%-21.5%Gold tick: the median of 21–26 peers with $50M+ revenue in electric services
", "chartHorizon": null, "backtest": { "tests": 1, "hits": 0, "rate": 0, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T14:33:04.811Z", "hash": "5967be33276ae925", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Spruce Power Holding (SPRU) grew revenue 36.2% in FY2025 to $112 million, operating margin 16.0% against a 20.3% median for electric services, equity 14.5% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 111812000, "totalDebt": 695520000, "cash": 54842000 }, "experience": { "revenueGrowth1y": 0.36178401354330325, "revenueGrowthPerYear": null, "operatingMargin": 0.1604478946803563, "operatingMarginPrior": -0.613747914306941, "netMargin": -0.23277465746073767, "freeCashFlow": -3751000 }, "soundness": { "equityRatio": 0.14481775955990459, "returnOnEquity": -0.21465212944941114, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 4911, "sicDescription": "Electric Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "4911", "growth": [ 0.0937, 40 ], "opMargin": [ 0.2032, 40 ], "equityRatio": [ 0.2453, 26 ], "returnOnEquity": [ 0.0943, 21 ], "payoutRatio": [ 0.5107, 22 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2025-04-11", "url": "https://www.sec.gov/Archives/edgar/data/1772720/000162828025017405/0001628280-25-017405-index.htm" } }, "range": { "low": 134548260.9902375, "high": 216252897.1645831, "baseline": 170573353.1823498, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 4309, "sizeBand": "b01" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 1, "hits": 0, "rate": 0, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T14:33:04.811Z", "hash": "5967be33276ae925", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001772720.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1772720" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }