Sla Revenues was the largest of Spruce Power Holding Corp’s 7 reported lines in fiscal 2025, at $119.75M — 36% of $335.44M.
| Product and Service | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Ppa Revenues | $26.27M | $109.08M | $115.17M | $113.91M |
| Sla Revenues | $33.81M | $85.39M | $86.93M | $119.75M |
| Solar Renewable Energy Credit Revenues | $4.73M | $21.66M | $21.62M | $64.07M |
| Intangibles Amortization, Unfavorable Solar Renewable Energy Revenue Agreements | — | — | $9.29M | $8.98M |
| Intangibles Amortization, Unfavorable Solar Renewable Energy Agreements | — | $10.78M | — | — |
| Other Revenue | $1.73M | $9.61M | $9.70M | $10.89M |
| Servicing Revenues | $2.31M | $2.30M | $2.33M | $11.41M |
| Performance-Based Incentives | — | — | $1.28M | $6.44M |
| Government Incentives | $735.00K | $762.00K | — | — |
| Total | $69.58M | $239.58M | $246.32M | $335.44M |
In fiscal 2025, which ended December 31, 2025, the 7 revenue lines Spruce Power Holding Corp reported in this breakdown added up to $335.44M. That was up 36.2% from $246.32M in fiscal 2024. Sla Revenues was the largest revenue line, at $119.75M or 35.7% of the total, followed by Ppa Revenues ($113.91M, 34.0%) and Solar Renewable Energy Credit Revenues ($64.07M, 19.1%). Together, the two largest revenue lines made up 69.7% of this total.
Compared with fiscal 2024, Servicing Revenues grew the fastest, rising 388.8% to $11.41M. Intangibles Amortization, Unfavorable Solar Renewable Energy Revenue Agreements fell the most, down 3.4% to $8.98M.
Intangibles Amortization, Unfavorable Solar Renewable Energy Revenue Agreements (fiscal 2024) and Performance-Based Incentives (fiscal 2024) were first reported as separate revenue lines during this period. The table also keeps 2 revenue lines that Spruce Power Holding Corp no longer reports, so earlier years can still be read on their original basis; use "Show 2 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2022 to 2025, as reported in Spruce Power Holding Corp's annual filings.
Revenue From The Sale Of Xl Grid Solutions – Which Are Sold Direct To Customers was the largest of Spruce Power Holding Corp’s 3 reported lines in fiscal 2021, at $38.28M — 82% of $46.80M.
| Contract with Customer, Sales Channel | FY 2019 | FY 2020 | FY 2021 |
|---|---|---|---|
| Revenue From The Sale Of Xl Grid Solutions – Which Are Sold Direct To Customers | — | — | $38.28M |
| Revenue Through Channel Partners | $11.86M | $48.98M | $4.40M |
| Revenue Direct To Customers | $9.79M | $12.04M | $4.12M |
| Total | $21.65M | $61.01M | $46.80M |
In fiscal 2021, which ended December 31, 2021, the 3 revenue lines Spruce Power Holding Corp reported in this breakdown added up to $46.80M. The revenue lines reported changed from fiscal 2020, so the total is not directly comparable with the $61.01M reported that year. Revenue From The Sale Of Xl Grid Solutions – Which Are Sold Direct To Customers was the largest revenue line, at $38.28M or 81.8% of the total, followed by Revenue Through Channel Partners ($4.40M, 9.4%) and Revenue Direct To Customers ($4.12M, 8.8%). Together, the two largest revenue lines made up 91.2% of this total.
Compared with fiscal 2020, every sizeable revenue line reported in both years shrank. Revenue Direct To Customers held up best, down 65.8% to $4.12M, while Revenue Through Channel Partners fell the most, down 91.0% to $4.40M. Because revenue lines were added or dropped between the two years, part of this reflects how Spruce Power Holding Corp regrouped its reporting.
Revenue From The Sale Of Xl Grid Solutions – Which Are Sold Direct To Customers was first reported as a separate revenue line in fiscal 2021. This breakdown covers every fiscal year from 2019 to 2021, as reported in Spruce Power Holding Corp's annual filings.
Spruce Power Holding Corp (SPRU) breaks its revenue down by revenue line. In fiscal 2025, its largest revenue line was Sla Revenues, with $119.75M or 35.7% of the total, followed by Ppa Revenues at $113.91M (34.0%).
Sla Revenues was Spruce Power Holding Corp's largest revenue line in fiscal 2025, with $119.75M in revenue, 35.7% of the $335.44M reported across its 7 revenue lines.
Of the Spruce Power Holding Corp revenue lines reported in both fiscal 2024 and fiscal 2025, and making up at least 2% of the total, Servicing Revenues grew the fastest, rising 388.8% from $2.33M to $11.41M.
Every figure is taken from Spruce Power Holding Corp's annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by revenue line covers fiscal 2022 to 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.