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Spire Global Inc Financials

SPIR
Source SEC Filings (10-K/10-Q) Updated Mar 19, 2026 Currency USD FYE March

This page shows Spire Global Inc (SPIR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 37 / 100
Financial Profile 37/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Spire Global Inc has an operating margin of -134.1%, meaning the company retains $-134 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -62.2% the prior year.

Growth
0

Spire Global Inc's revenue declined 35.2% year-over-year, from $110.5M to $71.6M. This contraction results in a growth score of 0/100.

Leverage
100

Spire Global Inc carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
21

Spire Global Inc's current ratio of 1.30 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.

Cash Flow
0

While Spire Global Inc generated -$59.8M in operating cash flow, capex of $32.8M consumed most of it, leaving -$92.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
100

Spire Global Inc earns a strong 45.4% return on equity (ROE), meaning it generates $45 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.

Piotroski F-Score Neutral
5/9

Spire Global Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality
-1.17x

For every $1 of reported earnings, Spire Global Inc generates $-1.17 in operating cash flow (-$59.8M OCF vs $51.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-12.9x

Spire Global Inc earns $-12.9 in operating income for every $1 of interest expense (-$96.0M vs $7.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$71.6M
YoY-35.2%
5Y CAGR+20.2%

Spire Global Inc generated $71.6M in revenue in fiscal year 2025. This represents a decrease of 35.2% from the prior year.

EBITDA
-$83.6M
YoY-77.8%

Spire Global Inc's EBITDA was -$83.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 77.8% from the prior year.

Net Income
$51.3M
YoY+149.9%

Spire Global Inc reported $51.3M in net income in fiscal year 2025. This represents an increase of 149.9% from the prior year.

EPS (Diluted)
$1.49
YoY+135.0%

Spire Global Inc earned $1.49 per diluted share (EPS) in fiscal year 2025. This represents an increase of 135.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$92.6M
YoY-105.6%

Spire Global Inc generated -$92.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 105.6% from the prior year.

Cash & Debt
$24.8M
YoY+29.2%
5Y CAGR+9.8%

Spire Global Inc held $24.8M in cash against $4.6M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
34M

Spire Global Inc had 34M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin
40.8%
YoY+4.6pp
5Y CAGR-23.1pp

Spire Global Inc's gross margin was 40.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.6 percentage points from the prior year.

Operating Margin
-134.1%
YoY-71.9pp
5Y CAGR-42.8pp

Spire Global Inc's operating margin was -134.1% in fiscal year 2025, reflecting core business profitability. This is down 71.9 percentage points from the prior year.

Net Margin
71.7%
YoY+164.8pp
5Y CAGR+185.8pp

Spire Global Inc's net profit margin was 71.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 164.8 percentage points from the prior year.

Return on Equity
45.4%

Spire Global Inc's ROE was 45.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending
$36.7M
YoY+25.6%
5Y CAGR+12.1%

Spire Global Inc invested $36.7M in research and development in fiscal year 2025. This represents an increase of 25.6% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$32.8M
YoY+23.3%
5Y CAGR+26.0%

Spire Global Inc invested $32.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 23.3% from the prior year.

SPIR Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $12.7M-33.9% $19.2M-19.7% $23.9M+10.2% $21.7M-24.2% $28.6M+12.5% $25.4M-27.1% $34.8M+43.9% $24.2M
Cost of Revenue $8.0M-18.1% $9.8M-35.0% $15.1M+3.1% $14.6M-7.6% $15.8M+9.4% $14.5M-43.4% $25.6M+44.0% $17.8M
Gross Profit $4.6M-50.5% $9.4M+6.7% $8.8M+25.0% $7.0M-44.8% $12.7M+16.6% $10.9M+18.2% $9.2M+43.4% $6.4M
R&D Expenses $9.1M-10.6% $10.2M+19.8% $8.5M-14.9% $10.0M+77.6% $5.6M-25.1% $7.5M+24.5% $6.0M+27.2% $4.7M
SG&A Expenses $13.8M-19.9% $17.2M+8.7% $15.8M-10.1% $17.6M+43.0% $12.3M+22.9% $10.0M+1.7% $9.8M+19.5% $8.2M
Operating Income -$21.1M+10.5% -$23.5M+7.5% -$25.4M+17.1% -$30.7M-123.6% -$13.7M-11.1% -$12.4M-3.0% -$12.0M+8.3% -$13.1M
Interest Expense $2K-99.9% $1.7M-70.6% $5.7M+0.5% $5.7M+18.1% $4.8M+1.2% $4.8M-5.6% $5.1M+0.6% $5.0M
Income Tax -$2K-100.1% $1.8M+30116.7% -$6K-110.5% $57K+29.5% $44K-34.3% $67K+844.4% -$9K+98.4% -$578K
Net Income -$19.7M-116.5% $119.6M+678.9% -$20.7M+57.2% -$48.2M-286.8% -$12.5M+24.7% -$16.6M+35.2% -$25.5M-48.6% -$17.2M
EPS (Diluted) $-0.61-116.4% $3.72+583.1% $-0.77 N/A $-0.50+26.5% $-0.68+41.9% $-1.17-1000.0% $0.13

SPIR Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $224.3M-6.4% $239.5M+14.7% $208.8M+7.9% $193.6M-13.7% $224.2M-2.9% $230.8M-8.5% $252.3M+5.5% $239.3M
Current Assets $113.0M-14.6% $132.3M+22.1% $108.3M+17.6% $92.2M+58.3% $58.2M-18.4% $71.3M-20.9% $90.2M+24.7% $72.3M
Cash & Equivalents $20.3M-43.8% $36.1M+0.5% $35.9M+87.1% $19.2M-33.9% $29.1M+23.5% $23.5M-54.5% $51.7M+77.6% $29.1M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $5.8M-22.4% $7.5M-26.4% $10.2M-14.7% $11.9M+30.2% $9.2M-26.2% $12.4M+0.6% $12.3M+24.6% $9.9M
Goodwill $15.2M-1.7% $15.5M+4.9% $14.8M+0.2% $14.7M-70.6% $50.1M+1.2% $49.5M-1.0% $50.1M-2.2% $51.2M
Total Liabilities $91.1M+0.9% $90.3M-55.6% $203.3M-1.0% $205.3M+6.2% $193.4M+1.5% $190.5M-4.7% $199.9M-0.8% $201.5M
Current Liabilities $59.4M+9.2% $54.4M-66.4% $161.7M+6.7% $151.6M+5.4% $143.8M+2.7% $140.0M+238.3% $41.4M-16.2% $49.3M
Long-Term Debt N/A N/A $0-100.0% $4.6M-5.9% $4.9M+1.2% $4.9M-95.8% $115.0M+0.8% $114.1M
Total Equity $133.1M-10.8% $149.2M+3917.1% $3.7M+131.8% -$11.7M-137.9% $30.8M-23.5% $40.3M-23.1% $52.5M+38.8% $37.8M
Retained Earnings -$462.2M-4.4% -$442.6M+20.8% -$558.8M-3.7% -$538.6M-10.0% -$489.9M-2.6% -$477.4M-3.6% -$460.8M-5.9% -$435.3M

SPIR Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow -$12.0M+65.7% -$35.1M-316.1% -$8.4M+56.1% -$19.2M-237.3% $14.0M+418.7% -$4.4M+50.4% -$8.8M-383.0% $3.1M
Capital Expenditures $8.4M+132.6% $3.6M-59.5% $8.9M+74.9% $5.1M-42.8% $8.9M+61.2% $5.5M-21.7% $7.1M+31.7% $5.4M
Free Cash Flow -$20.4M+47.2% -$38.7M-123.2% -$17.3M+28.7% -$24.3M-578.0% $5.1M+151.3% -$9.9M+37.7% -$15.9M-612.8% -$2.2M
Investing Cash Flow -$2.4M-101.6% $154.2M+1832.7% -$8.9M-454.6% $2.5M-58.1% $6.0M+138.5% -$15.6M-116.6% -$7.2M-319.1% $3.3M
Financing Cash Flow $954K+100.8% -$114.2M-400.9% $37.9M+6319.1% $591K+105.9% -$10.0M-2.7% -$9.7M-125.5% $38.1M+994.0% -$4.3M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

SPIR Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 36.6%-12.2pp 48.9%+12.1pp 36.8%+4.3pp 32.4%-12.1pp 44.5%+1.6pp 43.0%+16.5pp 26.5%-0.1pp 26.6%
Operating Margin -166.2%-43.5pp -122.6%-16.1pp -106.5%+35.1pp -141.6%-93.6pp -48.0%+0.6pp -48.6%-14.2pp -34.4%+19.6pp -54.0%
Net Margin -155.3%-778.8pp 623.4%+710.0pp -86.5%+136.2pp -222.7%-179.1pp -43.7%+21.5pp -65.2%+8.2pp -73.4%-2.3pp -71.0%
Return on Equity -14.8%-94.9pp 80.1%+636.2pp -556.0% N/A -40.5%+0.6pp -41.0%+7.7pp -48.7%-3.2pp -45.5%
Return on Assets -8.8%-58.7pp 49.9%+59.8pp -9.9%+15.0pp -24.9%-19.4pp -5.6%+1.6pp -7.2%+2.9pp -10.1%-2.9pp -7.2%
Current Ratio 1.90-0.5 2.43+1.8 0.67+0.1 0.61+0.2 0.40-0.1 0.51-1.7 2.18+0.7 1.47
Debt-to-Equity 0.68+0.1 0.61+0.6 0.00+0.4 -0.40-0.6 0.16+0.0 0.12-2.1 2.19-0.8 3.02
FCF Margin -161.3%+40.4pp -201.7%-129.1pp -72.6%+39.6pp -112.2%-129.9pp 17.8%+56.8pp -39.0%+6.6pp -45.7%-36.5pp -9.2%

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Frequently Asked Questions

Spire Global Inc (SPIR) reported $71.6M in total revenue for fiscal year 2025. This represents a -35.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Spire Global Inc (SPIR) revenue declined by 35.2% year-over-year, from $110.5M to $71.6M in fiscal year 2025.

Yes, Spire Global Inc (SPIR) reported a net income of $51.3M in fiscal year 2025, with a net profit margin of 71.7%.

Spire Global Inc (SPIR) reported diluted earnings per share of $1.49 for fiscal year 2025. This represents a 135.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Spire Global Inc (SPIR) had EBITDA of -$83.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Spire Global Inc (SPIR) had $24.8M in cash and equivalents against $4.6M in long-term debt.

Spire Global Inc (SPIR) had a gross margin of 40.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Spire Global Inc (SPIR) had an operating margin of -134.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Spire Global Inc (SPIR) had a net profit margin of 71.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Spire Global Inc (SPIR) has a return on equity of 45.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Spire Global Inc (SPIR) generated -$92.6M in free cash flow during fiscal year 2025. This represents a -105.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Spire Global Inc (SPIR) generated -$59.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Spire Global Inc (SPIR) had $211.0M in total assets as of fiscal year 2025, including both current and long-term assets.

Spire Global Inc (SPIR) invested $32.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Spire Global Inc (SPIR) invested $36.7M in research and development during fiscal year 2025.

Spire Global Inc (SPIR) had 34M shares outstanding as of fiscal year 2025.

Spire Global Inc (SPIR) had a current ratio of 1.30 as of fiscal year 2025, which is considered adequate.

Spire Global Inc (SPIR) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Spire Global Inc (SPIR) had a return on assets of 24.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Spire Global Inc (SPIR) had $24.8M in cash against an annual operating cash burn of $59.8M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Spire Global Inc (SPIR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Spire Global Inc (SPIR) has an earnings quality ratio of -1.17x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Spire Global Inc (SPIR) has an interest coverage ratio of -12.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Spire Global Inc (SPIR) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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