Spruce Power Holding Corporation (NYSE: SPRU) reported its financial results for the first quarter ending March 31, 2025. The company, a prominent owner and operator of distributed solar energy assets in the U.S., achieved revenues of $23.8 million, representing a 30% increase from $18.3 million in the same period last year. This growth was largely driven by the acquisition of a residential solar portfolio from NJR Clean Energy Ventures in November 2024, along with improved system performance and a new service agreement with ADT signed in December 2024. Despite the rise in revenues, Spruce Power reported a net loss attributable to stockholders of $15.3 million for the first quarter of 2025. The company's Operating EBITDA was $12.3 million, marking a 15% increase from $10.7 million in the previous year. This improvement was primarily due to the NJR acquisition, although it was partially offset by higher expenses and lower interest income. As of March 31, 2025, Spruce Power maintained a total cash balance of $96.5 million. The company also reported a portfolio of approximately 85,000 home solar assets and contracts across 18 U.S. states, with a combined portfolio generation of about 121 thousand MWh of power during the quarter. Spruce Power's CEO, Chris Hayes, highlighted the positive impact of the NJR acquisition and expressed optimism about future acquisition opportunities and the expansion of the Spruce PRO servicing business, which recently secured ADT as its first third-party client. The company is actively managing costs and seeking to improve profitability throughout 2025.