Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 53,511	$ 72,802
Restricted cash	36,946	36,346
Accounts receivable, net of allowance for credit losses of $1.1 million and $0.8 million as of June 30, 2025 and December 31, 2024, respectively	19,449	15,010
Interest rate swap assets, current	4,997	6,258
Prepaid expenses and other current assets	4,397	6,014
Total current assets	119,300	136,430
Investment related to SEMTH master lease agreement	136,900	136,942
Property and equipment, net	577,625	589,014
Interest rate swap assets, non-current	11,297	18,414
Intangible assets, net	8,394	8,957
Deferred rent assets	4,229	3,717
Right-of-use assets, net	4,618	4,750
Other assets	268	255
Total assets (Note 11. Consolidated VIEs and Noncontrolling Interests)	862,631	898,479
Current liabilities
Accounts payable	952	987
Accrued expenses and other current liabilities	20,584	28,125
Non-recourse debt, current	215,624	28,310
Deferred revenue, current	1,192	1,194
Lease liability, current	911	892
Interest rate swap liabilities, current	188	0
Current liabilities of discontinued operations	34	61
Total current liabilities	239,485	59,569
Non-recourse debt, non-current	479,424	677,021
Deferred revenue, non-current	3,279	2,790
Lease liability, non-current	4,659	4,848
Unfavorable solar renewable energy agreements, net	2,456	4,134
Interest rate swap liabilities, non-current	2,183	385
Other long-term liabilities	3,701	3,540
Long-term liabilities of discontinued operations	34	40
Total liabilities (Note 11. Consolidated VIEs and Noncontrolling Interests)	735,221	752,327
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, $0.0001 par value; 350,000,000 shares authorized at June 30, 2025 and December 31, 2024; 19,705,195 and 17,834,368 shares issued and outstanding at June 30, 2025, respectively, and 19,403,262 and 18,311,054 shares issued and outstanding at December 31, 2024, respectively	2	2
Additional paid-in capital	479,761	478,366
Accumulated deficit	(346,681)	(328,377)
Treasury stock at cost, 1,870,827 shares and 1,092,208 at June 30, 2025 and December 31, 2024, respectively	(8,095)	(6,277)
Total stockholders’ equity	124,987	143,714
Noncontrolling interests	2,423	2,438
Total equity	127,410	146,152
Total liabilities, stockholders’ equity and noncontrolling interests	$ 862,631	$ 898,479

SPRUCE POWER HOLDING CORP 10-Q