# Spruce Power Holding Corporation (SPRU) · Edgar & Edgarette company card

> 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.

SEC CIK 1772720 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/SPRU) · [JSON](https://www.pops4.com/boards/company/SPRU.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $112M |
| Revenue growth, 1 year | 36.2% |
| Revenue growth per year | — |
| Operating margin | 16.0% (prior year -61.4%) |
| Net margin | -23.3% |
| Operating cash flow | −$4M |
| Capital spending | $221,000 |
| Free cash flow | −$4M |
| Cash | $55M |
| Long-term debt | $696M |
| Total assets | $837M |
| Total equity | $121M |
| Equity ÷ assets | 14.5% |
| Return on equity | -21.5% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 5 of 9 (middling)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative; revenue is hard to predict: its 80% range is ±58%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

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 $86.6M and $329.4M next year (method v4.1: its own 3-year record of growth weighed at 40% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $61.8M to $468.3M. A statistical range, not company guidance. Against peers (40 filers, $50M+ revenue, electric services): operating margin 16.0% against a 20.3% median; growth 36.2% against 9.4%.

Range logged 2026-09-24, receipt 9d5bfef9528b04bd, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 4, latest 2026-09-16 ([filing](https://www.sec.gov/Archives/edgar/data/1772720/000162828026062216/0001628280-26-062216-index.htm))

## Recent filings

- 8-K · filed 2026-10-06 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1772720/000162828026065221/0001628280-26-065221-index.htm)
- 8-K · filed 2026-09-16 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1772720/000162828026062216/0001628280-26-062216-index.htm)
- 8-K · filed 2026-08-26 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1772720/000162828026059001/0001628280-26-059001-index.htm)
- 10-Q · filed 2026-08-13 · [filing](https://www.sec.gov/Archives/edgar/data/1772720/000162828026056824/0001628280-26-056824-index.htm)
- 8-K · filed 2026-08-12 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1772720/000162828026056280/0001628280-26-056280-index.htm)
- 8-K · filed 2026-08-11 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1772720/000162828026055655/0001628280-26-055655-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001772720.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1772720

## Cite

POPS4, Edgar & Edgarette: Spruce Power Holding Corporation (SPRU) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/SPRU. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

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.