Spruce Power Holding Corp

xlfleet.com

Spruce Power Holding Corporation (NYSE: SPRU) is a distributed solar energy company that owns and operates rooftop solar energy systems installed at residential properties across the United States. Revenue comes primarily from long-term Customer Agreements under which homeowners make recurring monthly payments for the lease of solar systems or the electricity those systems generate, supplemented by sales of solar renewable energy credits (SRECs) to third parties. The company serves approximately 84,000 home solar assets and customer contracts as of the 10-K filed March 31, 2026. Spruce Power was formerly XL Fleet Corp., a commercial vehicle electrification business, and pivoted to residential solar through the September 2022 acquisition of Legacy Spruce Power, subsequently renaming the company and changing its ticker from XL to SPRU. For FY2025, revenues totaled $111.8 million, up from $82.1 million in FY2024, with the increase driven in part by the NJR Acquisition completed in November 2024. The company reported a net loss attributable to stockholders of $26.0 million in FY2025. The portfolio generated approximately 709 thousand MWh of power in FY2025.