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Spruce Power Holding Corp is a leading owner and operator of distributed solar energy assets across the United States (the U.S.), offering subscription-based services to approximately 75,000 home solar assets and customer contracts, making renewable energy more accessible to everyone. The Company’s primary customers are homeowners and the Company’s core solar service offerings generate revenues primarily through (i) the sale of electricity generated by its home solar energy systems to homeowners, (ii) third-party contracts to sell solar renewable energy credits (SRECs) generated by the solar energy systems for fixed prices and (iii) the servicing of those agreements for other institutional owners of home solar energy systems.
2019
165
LTM Revenue $82.1M
LTM EBITDA $17.9M
$676M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Spruce Power has a last 12-month revenue of $82.1M and a last 12-month EBITDA of $17.9M.
In the most recent fiscal year, Spruce Power achieved revenue of $82.1M and an EBITDA of -$8.6M.
Spruce Power expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Spruce Power valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $79.9M | $82.1M | XXX | XXX | XXX |
| Gross Profit | $13.2M | $42.0M | XXX | XXX | XXX |
| Gross Margin | 17% | 51% | XXX | XXX | XXX |
| EBITDA | $1.0M | -$8.6M | XXX | XXX | XXX |
| EBITDA Margin | 1% | -10% | XXX | XXX | XXX |
| Net Profit | -$93.9M | -$65.8M | XXX | XXX | XXX |
| Net Margin | -118% | -80% | XXX | XXX | XXX |
| Net Debt | $279M | $477M | XXX | XXX | XXX |
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As of April 15, 2025, Spruce Power's stock price is $2.
Spruce Power has current market cap of $37.4M, and EV of $676M.
See Spruce Power trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $676M | $37.4M | XXX | XXX | XXX | XXX | $-3.82 |
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Sign UpAs of April 15, 2025, Spruce Power has market cap of $37.4M and EV of $676M.
Spruce Power's trades at 8.2x LTM EV/Revenue multiple, and 37.7x LTM EBITDA.
Analysts estimate Spruce Power's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Spruce Power and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $676M | XXX | XXX | XXX |
| EV/Revenue | 8.2x | XXX | XXX | XXX |
| EV/EBITDA | -78.9x | XXX | XXX | XXX |
| P/E | -0.5x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -16.0x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpSpruce Power's NTM/LTM revenue growth is -100%
Spruce Power's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.4M for the same period.
Over next 12 months, Spruce Power's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Spruce Power's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Spruce Power and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 3% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -10% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -927% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | n/a | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.5M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.4M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 72% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| SBM Offshore | XXX | XXX | XXX | XXX | XXX | XXX |
| Friedrich Vorwerk Group | XXX | XXX | XXX | XXX | XXX | XXX |
| GE Vernova T&D India | XXX | XXX | XXX | XXX | XXX | XXX |
| Suzlon Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Inox Wind | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Spruce Power acquired XXX companies to date.
Last acquisition by Spruce Power was XXXXXXXX, XXXXX XXXXX XXXXXX . Spruce Power acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Spruce Power founded? | Spruce Power was founded in 2019. |
| Where is Spruce Power headquartered? | Spruce Power is headquartered in United States of America. |
| How many employees does Spruce Power have? | As of today, Spruce Power has 165 employees. |
| Who is the CEO of Spruce Power? | Spruce Power's CEO is Mr. Christopher Hayes. |
| Is Spruce Power publicy listed? | Yes, Spruce Power is a public company listed on NYS. |
| What is the stock symbol of Spruce Power? | Spruce Power trades under SPRU ticker. |
| When did Spruce Power go public? | Spruce Power went public in 2020. |
| Who are competitors of Spruce Power? | Similar companies to Spruce Power include e.g. SBM Offshore, Friedrich Vorwerk Group, GE Vernova T&D India, Suzlon Energy. |
| What is the current market cap of Spruce Power? | Spruce Power's current market cap is $37.4M |
| What is the current revenue of Spruce Power? | Spruce Power's last 12-month revenue is $82.1M. |
| What is the current EBITDA of Spruce Power? | Spruce Power's last 12-month EBITDA is $17.9M. |
| What is the current EV/Revenue multiple of Spruce Power? | Current revenue multiple of Spruce Power is 8.2x. |
| What is the current EV/EBITDA multiple of Spruce Power? | Current EBITDA multiple of Spruce Power is 37.7x. |
| What is the current revenue growth of Spruce Power? | Spruce Power revenue growth between 2023 and 2024 was 3%. |
| Is Spruce Power profitable? | Yes, Spruce Power is EBITDA-positive (as of the last 12 months). |
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