In addition to revenue growth, Spruce Power demonstrated strong operational execution, achieving an Operating EBITDA of $80.1 million, up 49% year-over-year. The company also reported a positive cash generation of $5.1 million in adjusted cash flow from operations for the fourth quarter, totaling $31.6 million for the year. This financial strength allowed Spruce to exit the year with over $93.1 million in cash, equating to more than $5 per share, while also reducing debt by nearly $2 per share.
CEO Chris Hayes commented on the results, stating, "2025 was the best year in Spruce's history, and our fourth quarter results reflect a business that is hitting its stride. We delivered strong growth, achieved record EBITDA, and reached a clear inflection point in cash generation, all while fundamentally improving the efficiency of our platform." The company also highlighted a 64% decline in operations and maintenance expenses, reflecting durable efficiency gains across its operations.
Despite the positive results, Spruce reported a net loss attributable to stockholders of $6.9 million for the fourth quarter, compared to a loss of $5.9 million in the same period last year. The company continues to focus on strengthening its balance sheet and enhancing equity value through strategic debt repayments and operational efficiencies. Looking ahead, Spruce Power is well-positioned for continued growth in 2026, supported by a robust portfolio of solar assets and a commitment to maximizing long-term shareholder value.
