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Red Flags Detected

  • Going Concern (worsened) — Negative working capital widened from $120.2M to $175.0M; both SP1 and SP2 facilities now classified as current with maturities within 12 months; no refinancing commitment secured; management removed prior-period alleviation language.
  • Material Weakness (removed) — Material weakness in control environment and revenue recognition controls disclosed in baseline has been remediated; current filing concludes controls are effective.
NYSE: SPRU SPRUCE POWER HOLDING CORP 10-Q

SPRU swings to $3.3M net income in Q2 on cost cuts, but going-concern risk worsens

Filed August 13, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 12, 2025 · ~2 min read

Key Changes

  • high

    Going-concern disclosure worsened: SP1 facility matures Oct 2026 (Jan 2027 if term sheet obtained), SP2 matures May 2027, both now current; negative working capital widened from $120.2M to $175.0M; no refinancing commitment secured.

    Notes: Going Concern verify on EDGAR →
  • high

    Net income of $3.3M in Q2 2026 vs. net loss of $3.0M in Q2 2025, driven by SG&A down $4.0M (26%) and favorable interest-rate swap movements, partially offset by revenue down 8.7% to $30.3M.

    MD&A: Results of Operations verify on EDGAR →
  • high

    Material weakness in revenue recognition controls remediated; disclosure controls now effective as of June 30, 2026, removing a prior-period deficiency.

    Controls and Procedures verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 14, 2026 · How we verify