Operator

Hello, everyone. Thank you for joining us, and welcome to Spruce Power First Quarter 2026 Earnings Results Conference Call. [Operator Instructions]

I will now hand the call over to Julia Gasbarre, Head of Investor Relations. Please go ahead.

Julia Gasbarre

Thank you, operator. Good afternoon, everyone, and welcome to Spruce Power's First Quarter 2026 Earnings Conference Call. Joining me today are Chris Hayes, Spruce's Chief Executive Officer; and Tom Cimino, the company's Chief Financial Officer.

Before we begin, I would like to remind you that we will comment on our financial performance using both GAAP and non-GAAP financial measures. Important information about these non-GAAP financial measures, including reconciliations to the most comparable GAAP measures is included in our earnings release for the first quarter of 2026 is available on the Investor Relations section of our website.

Our discussion today will also include forward-looking statements that reflect management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our earnings release and SEC filings for a discussion of these risk factors.

With that, I will now turn the call over to Chris Hayes, Chief Executive Officer of Spruce Power. Chris?

Christopher Hayes
President, CEO & Chairman

Thanks, Julia. Good afternoon, everyone. We began 2026 with continued progress against our operational and financial priorities, delivering meaningful year-over-year improvement in profitability and operating efficiency, while maintaining stable liquidity and recurring cash flow generation from our portfolio. For the first quarter, revenue totaled approximately $23.4 million, which was generally in line with the prior year period despite weather-related impacts in the Northeast. Importantly, we continue to realize the benefits