Spruce Power Holding Corporation (SPRU) Revenue History
Annual and quarterly revenue from 2018 to present
SPRU Revenue Over Time (2018–2025)
SPRU Revenue Growth History
5 of 7 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- -24.4%
- FY2020 revenue growth
- +181.9%
- FY2021 revenue growth
- -23.3%
- FY2022 revenue growth
- +48.7%
- FY2023 revenue growth
- +244.3%
- FY2024 revenue growth
- +2.8%
- FY2025 revenue growth
- +36.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $23.4M | -1.7% |
| Q4 2025 | $24.0M | +18.8% |
| Q3 2025 | $30.7M | +43.7% |
| Q2 2025 | $33.2M | +47.9% |
| Q1 2025 | $23.8M | +30.2% |
| Q4 2024 | $20.2M | +28.8% |
| Q3 2024 | $21.4M | -8.1% |
| Q2 2024 | $22.5M | -1.5% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SPRU's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
SPRU Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 23, 2026, Spruce Power Holding Corporation (SPRU) generated trailing twelve-month (TTM) revenue of $111.4 million, reflecting slight decline in growth of -1.7% year-over-year. The most recent quarter (Q1 2026) recorded $23.4 million in revenue, down 2.5% sequentially.
Historical Growth Trajectory
SPRU's 5-year compound annual growth rate (CAGR) stands at +40.6%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +68.9% exceeds the 5-year average, indicating an acceleration in the most recent period. Spruce Power Holding Corporation's highest annual revenue of $111.8 million was recorded in 2025, an all-time high.
Revenue by Segment
SPRU's revenue is primarily driven by PPA Revenue (84%), Service (8%), and Product and Service, Other (8%). With over half of revenue concentrated in PPA Revenue, the company has a focused business model while developing other growth vectors.
Peer Comparison
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 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 | $111M | -1.7% | +40.6% | 15.9% | |
 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 (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $111.8M | +36.2% | $71.9M | 64.3% | $17.8M | 15.9% |
| 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% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SPRU — Frequently Asked Questions
Quick answers to the most common questions about buying SPRU stock.
Is SPRU's revenue growth accelerating or slowing?
SPRU revenue growth is slowing. TTM revenue is $111M, up -1.7% year-over-year — below the 5-year CAGR of +40.6%. The deceleration suggests maturing end-markets or increased competition.
What is SPRU's revenue history from 2018 to 2026?
Spruce Power Holding Corporation (SPRU) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $111M, growing at -1.7% YoY. The 5-year CAGR is +40.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SPRU's long-term revenue growth rate (CAGR)?
Spruce Power Holding Corporation's 5-year revenue CAGR of +40.6% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -1.7% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SPRU.
Why does SPRU's quarterly revenue fluctuate?
SPRU quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Spruce Power Holding Corporation's revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is SPRU's revenue distributed by segment?
SPRU reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SPRU's revenue compare to industry peers?
Spruce Power Holding Corporation (SPRU) with TTM revenue of $111M and -1.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.