Spruce Power swings to Q1 operating profit, generates positive cash flow on 49% EBITDA gain

Filed May 14, 2026 · Period ending May 13, 2026 · ~1 min read

Key Changes

• high

  Operating income of $3.8M vs. $1.7M loss in Q1 2025; Operating EBITDA up 49% year-over-year; positive adjusted cash flow of $2.6M vs. $3.2M used in prior year; net loss narrowed to $2.9M from $15.3M

  Exhibit 99.1 verify on EDGAR →
• high

  Core operating expenses fell 32% to $12.7M from $18.6M year-over-year, driven by 70% decline in O&M expense to $1.2M and 21% decline in SG&A to $11.6M

  Exhibit 99.1 verify on EDGAR →
• medium

  Cash position of $85.6M ($4.71 per share) after paying down $8.2M of non-recourse project debt; total debt $687.3M at 6.2% blended rate

  Exhibit 99.1 verify on EDGAR →