05:39 PM EDT, 09/24/2025 (MT Newswires) -- Spruce Power ( SPRU ) said late Wednesday it will reduce expenses through workforce adjustments, office closure in Denver and role consolidations, steps expected to generate about $20 million in annualized savings.

The company said the moves are intended to accelerate its path to positive free cash flow, preserve its $90 million cash position, and support expansion of its distributed solar energy platform.

One-time severance and reorganization costs of about $1 million will be recorded in Q3, the company added.

Shares of the company fell 4.1% in after-hours activity.