Latest news with #SP1
Yahoo
15-05-2025
- Business
- Yahoo
Spruce Power Holding Corp (SPRU) Q1 2025 Earnings Call Highlights: Revenue Surge and Strategic ...
Revenue: $23.8 million in Q1 2025, up from $20.2 million in Q4 2024 and $18.3 million in Q1 2024. Operating EBITDA: $12.3 million in Q1 2025, compared to $10.7 million in Q1 2024. Net Loss: $15.3 million attributable to stockholders in Q1 2025. Core Operating Expenses (OpEx): $18 million in Q1 2025, up from $16.6 million in Q1 2024. Portfolio O&M Expense: $3.9 million in Q1 2025, down from $5.3 million in Q4 2024. SG&A Expense: $14.1 million in Q1 2025, down from $15.5 million in Q4 2024, up from $13.5 million in Q1 2024. Total Cash: $96.5 million at the end of Q1 2025, with $61.9 million unrestricted. Long-term Debt: $723.8 million with a blended interest rate of 6%. Interest Rate Hedges: Positive mark-to-market of $18.1 million at quarter end. Warning! GuruFocus has detected 3 Warning Signs with SPRU. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue grew 30% year-over-year, driven by the acquisition of rooftop assets from New Jersey Resources. Operating EBITDA increased by 15%, reflecting improved financial performance. Spruce Power Holding Corp (NYSE:SPRU) has a robust balance sheet with close to $100 million in cash, mostly unrestricted. The company is actively seeking new acquisition opportunities that meet disciplined return hurdles. Spruce PRO, the third-party solar servicing platform, is off to a good start with a significant deal with ADT, covering approximately 60,000 systems. Higher operating and maintenance (O&M) expenses have been a challenge, although efforts are underway to reduce these costs. Cash burn during the period was affected by normal winter seasonality and a delay in payment collections from NJR assets. The company is experiencing higher SG&A expenses, which increased from the prior year period. The CFO, Sarah Wells, is leaving the company, which may lead to transitional challenges. Market conditions are challenging, slowing down growth despite disciplined acquisition strategies. Q: Great to see Spruce PRO landing ADT with 60,000 solar systems. How should we think about the scale of revenue opportunity there and the lead times to building up that business to a critical mass? Also, how have your other conversations and marketing at Spruce PRO been going so far this year? A: Christopher Hayes, Independent Chairman of the Board: Spruce PRO is a capital-light endeavor leveraging infrastructure investments made over the last 5 to 7 years. We have a deep pipeline of prospects and are excited about the team and market reception. We aim to make another announcement in the next quarter and believe we can operate profitably. Q: I understand that Spruce will refinance its SP 1 loan next year in April. What does the environment look like for that refinancing? A: Christopher Hayes, Independent Chairman of the Board: The SP 1 loan is due in April 2026. We are confident we can secure like-for-like terms and are exploring more favorable credit options. We remain confident in our liquidity profile and refinancing ability. Q: Could you give more color on the SRECs for the Spruce 5 acquisition? They make up close to 2/3 of the revenue for SP 5. Why is that so high compared to your other assets, and should we consider that level as recurring? A: Christopher Hayes, Independent Chairman of the Board: New Jersey has deep liquidity and high prices in the SREC market, which we expect to continue. We view this as a recurring revenue element. Q: Could you comment on the CFO transition and your plans to fill the role? A: Christopher Hayes, Independent Chairman of the Board: Sarah Wells has been with us for 7 years and is moving to a private company. We respect her decision and are actively searching for a replacement, with an interim announcement expected soon. Q: Could you talk about the durability of your business model from a policy perspective compared to your industry peers? A: Christopher Hayes, Independent Chairman of the Board: Our model is less affected by policy changes as we are a third-party operator and owner, buying portfolios post-installation and tax credit monetization. We see deep liquidity in our M&A pipeline, and rising utility rates benefit our business. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
18-03-2025
- Science
- Yahoo
Aitech Powers the Future of Space Missions with New Radiation-Tolerant 3U OpenVPX SP1 Single-Board Computer
New High-Performance SP1 Quad Core Processor Joins Aitech Family of Space-Rated Single-Board Computers CHATSWORTH, Calif., March 18, 2025 /PRNewswire/ -- Aitech, a leading provider of rugged embedded systems for use in military, aerospace and space platforms, announced the 3U OpenVPX SP1, a space-rated single-board computer (SBC) engineered for high-performance space missions, including low earth orbit (LEO), geostationary orbit (GEO), lunar and deep space missions. The SP1 is designed to be used in multiple spacecraft and payload systems to improve orbit computation and meet the growing needs for edge processing and analysis and on-board computing. With a wide range of I/Os, a powerful on-board processor, and a high-performance configurable FPGA that enables mission flexibility, the SP1 delivers mission-critical reliability and adaptability essential for space applications. "The space market is rapidly evolving, and next generation, more powerful SBCs are essential in enabling multi-core high performance supporting increasingly complex missions," said John White, Space Solutions Director, Aitech. "Aitech's SP1 is indispensable in the space market by providing efficient and reliable computing solutions for Earth observation, communications, Command and Data Handling (C&DH), robotic applications with vision processing, power distribution and management, and signal processing and analysis, from LEO to lunar and deep space missions." The SP1 is designed and built for applications that require extensive data processing and high bandwidth, making it critical for next-generation missions, including: Autonomous Space Maintenance, Operations and Flights: As part of a digital backbone, the powerful and configurable SP1 supports a variety of autonomous operations, reducing reliance on ground-based decision-making and enabling spacecraft to perform real-time decision-making and maneuvering through integrated AI/ML algorithms. Debris Avoidance and Situational Awareness: With thousands of space debris, big and small, tracking in Earth's orbit, collisions with all forms of space debris can cause catastrophic damage. Providing enhanced computational capabilities to detect and evade space debris, the SP1's high-speed processing improves situational awareness, dynamic trajectory predictions, and autonomous collision avoidance to ensure long-term sustainability at all orbit levels. Multiple Payload Hosting and Control: The SP1 leverages OpenVPX and increased I/O bandwidth for future space systems, allowing it to provide flexibility for different sensors, payloads and digital backbone architectures including, Gigabit Ethernet, GPIO, UART Serial, USB 2.0, SpaceWire, SpaceFibre, CANbus, and SPI with an onboard FPGA and PMC connector to provide additional I/Os. The SP1 I/Os can be supplemented with peripheral boards that will provide stepper motor control, power control, high-speed camera interfaces, storage, and digital and analog IO. Aitech offers the SP1 with electronic reliability to meet orbit and mission needs with different levels of EEE parts from LEO to deep space and every critical mission from unmanned to human safety critical space missions. The SP1's four 1.8 GHz 64-bit ARM vortex-A72 cores can achieve 44,000 CoreMarks of performance and utilize ECC equipped DDR4 memory to enhance capacity and reduce bandwidth usage by processing data locally and sending only essential information. The SP1 will be fully radiation-tested and characterized to 100 krad (Si) and provide latch-up immunity to 67 MeV-cm2/mg in an ISS orbit. Technology Highlights: Radiation characterized to 100 krad (Si) for LEO/GEO and lunar space missions Four 1.8 GHz 64-bit ARM Cortex-A72 cores of processing power Variety of I/O provides flexibility for different sensors, payloads and digital backbone Multiple NASA EEE-INST-002 reliability levels available for mission and orbit needs More about the Aitech SP Family: The Aitech SP family of SBCs includes the mission-proven SP0-S single-core SBC and the new SP1 quad-core processor SBC, representing the broadest family of computing performance and capabilities designed to meet performance requirements for all space mission needs. The SP1 development boards will be available for delivery in Q4 2025. For more information, please call 888-Aitech-8 (888-248-3248), visit or e-mail sales@ Get our updates: About Aitech Leveraging four decades of experience providing reliable, rugged embedded systems for use in military, aerospace, and space platforms, Aitech is the world's first independent, open systems architecture, COTS/MOTS innovator offering customized boards as building blocks for integrated computing and networking subsystems. Offering customization services for rugged and severe environment military, aerospace, and space applications, Aitech delivers mission-optimized and proven system solutions across Sea, Land, Air, and Space domains. Aitech solutions are used by industry leaders like Airbus, BAE Systems, Boeing, Hindustan Aeronautics Limited (HAL), Israel Aerospace Industries (IAI), Larsen & Toubro Limited (L&T), Leonardo, Lockheed Martin, NASA, Northrop Grumman, Rafael, and Virgin Galactic. Aitech is supporting a better tomorrow with highly reliable, cost-effective, and proven rugged embedded solutions designed to meet your mission and platform requirements. For more information, please visit View original content to download multimedia: SOURCE Aitech
