Spruce Power Holding Corporation (SPRU) Revenue History
Annual and quarterly revenue from 2018 to 2024
Compound Annual Growth Rate (CAGR)
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SPRU Revenue Growth
Revenue Breakdown (FY 2024)
SPRU's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
SPRU Revenue Analysis (2018–2024)
As of May 8, 2026, Spruce Power Holding Corporation (SPRU) generated trailing twelve-month (TTM) revenue of $108.0 million, reflecting explosive growth of +43.7% year-over-year. The most recent quarter (Q3 2025) recorded $30.7 million in revenue, down 7.6% sequentially.
Looking at the longer-term picture, SPRU's 5-year compound annual growth rate (CAGR) stands at +62.6%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $82.1 million in 2024, representing a new all-time high.
Revenue diversification analysis shows SPRU's business is primarily driven by PPA Revenue (91%), Product and Service, Other (8%), and Service (2%). With over half of revenue concentrated in PPA Revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including RUN (+52.4% YoY), SHLS (+37.8% YoY), and SEDG (+39.2% YoY), SPRU has underperformed the peer group in terms of revenue growth. Compare SPRU vs RUN →
SPRU Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SPRUCurrent | $108M | +43.7% | +62.6% | -61.4% | |
 RUN | $3.0B | +52.4% | +26.2% | -4.3% | |
 SHLS | $475M | +37.8% | +22.0% | 11.9% | |
 SEDG | $1.2B | +39.2% | -4.1% | -24.1% | |
 ENPH | $1.5B | -1.6% | +13.7% | 11.2% | |
 ARRY | $1.3B | +13.2% | +8.0% | 6.6% |
SPRU Historical Revenue Data (2018–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $82.1M | +2.8% | $42.1M | 51.3% | $-50,393,000 | -61.4% |
| 2023 | $79.9M | +244.3% | $42.0M | 52.7% | $-36,817,000 | -46.1% |
| 2022 | $23.2M | +48.7% | $13.2M | 57.1% | $-59,293,000 | -255.6% |
| 2021 | $15.6M | -23.3% | $-696,000 | -4.5% | $-58,906,000 | -377.6% |
| 2020 | $20.3M | +181.9% | $2.7M | 13.5% | $-15,294,000 | -75.2% |
| 2019 | $7.2M | -24.4% | $-860,000 | -11.9% | $-13,569,000 | -188.1% |
| 2018 | $9.5M | - | $-1,469,000 | -15.4% | $-12,695,000 | -133.0% |
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Start ComparisonSPRU — Frequently Asked Questions
Quick answers to the most common questions about buying SPRU stock.
Is SPRU's revenue growth accelerating or slowing?
SPRU revenue is accelerating at +43.7% year-over-year, exceeding the 5-year CAGR of +62.6%. TTM revenue reached $108M. Growth momentum has increased versus prior periods.
What is SPRU's long-term revenue growth rate?
Spruce Power Holding Corporation's 5-year revenue CAGR of +62.6% reflects the sustained expansion pattern. Current YoY growth of +43.7% is above this long-term average.
How is SPRU's revenue distributed by segment?
SPRU reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2018-2024 are available for download. Segment mix reveals concentration and diversification trends.