Financial Data and Key Metrics Changes - The company reported a 48% increase in revenue year-over-year, reaching $33.2 million in Q2 2025, up from $22.5 million in the prior year period [6][30] - Operating EBITDA grew by 71% year-over-year to $24.6 million, compared to $14.4 million in the prior year [6][33] - Core operating expenses totaled $17.2 million, down 19% from $21.2 million in the prior year [6][31] - The net loss attributable to stockholders was $3 million, an improvement from a loss of $8.6 million in the prior year [31] Business Line Data and Key Metrics Changes - The company’s operating expenses, including SG&A and O&M, decreased significantly, with O&M expenses dropping 52% year-over-year to $2.1 million [31][32] - The NJR acquisition contributed to increased lease revenues and SREC revenues, driving overall financial performance [30][33] Market Data and Key Metrics Changes - The company manages approximately 85,000 home solar assets and customer contracts, with significant room for growth in the residential solar market despite recent policy changes [10][12] - The U.S. solar market has over 5 million installations, with 97% on residential rooftops, indicating a large addressable market for the company [11] Company Strategy and Development Direction - The company aims to achieve positive free cash flow through growth in solar installations and cost containment [7] - A multi-pronged strategy includes opportunistic M&A, programmatic off-take partnerships, and expanding the Spruce Pro servicing business [14][18] - The company is focused on maximizing the value of existing solar assets through operational efficiencies and superior asset management [9][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the residential solar sector due to policy changes but emphasized the company's resilient business model [8][9] - The company expects an accelerated shift toward leases and PPAs, driven by rising utility rates and increasing power demand [14][13] - Management is confident in the ability to identify and execute new agreements that add shareholder value despite market uncertainties [23] Other Important Information - The company successfully launched a new CRM platform to enhance customer interactions and operational efficiency [25] - Total cash at the end of Q2 2025 was approximately $90.5 million, with $53.5 million being unrestricted [36] Q&A Session Summary - There were no questions during the Q2 2025 earnings call, and the session concluded without further inquiries [38]