Welcome to our dedicated page for Spire Global news (Ticker: SPIR), a resource for investors and traders seeking the latest updates and insights on Spire Global stock.
Spire Global, Inc. (SPIR) is a leading data and analytics company, leveraging space technology to solve real-world problems. By collecting data from space, Spire can identify, track, and predict the movement of the world's resources and weather systems, providing critical insights for businesses and governments to make informed decisions. Founded with the vision of using space to address Earth's challenges, Spire offers four core solutions: Maritime, Aviation, Weather, and Space Services.
Under the Maritime solution, Spire provides precise space-based data for accurate ship monitoring, safety, and route optimization. The Aviation solution focuses on aircraft monitoring, safety, and route optimization. Its Weather solution delivers accurate space-based weather forecasting, aiding in disaster preparedness and resource management. Lastly, Spire's Space Services offer tailored datasets and insights from space to meet specific industry needs.
Spire's innovative approach has positioned it at the forefront of space-based analytics, earning it partnerships with leading organizations worldwide. The company's financial health is reflected in its diverse revenue streams from its core solutions, allowing continuous investment in technology and talent.
The fast-growing team at Spire is dedicated to pushing the boundaries of space technology to deliver actionable insights. With the world facing rapid changes, Spire's ability to provide timely, accurate data is more critical than ever. For more information, visit www.spire.com.
Stay updated with the latest developments and career opportunities at Spire by visiting Spire Careers.
Spire Global reported record quarterly revenue of $20.4 million for Q3 2022, a 114% year-over-year increase, driven by new customer additions and higher adoption rates. The annual recurring revenue (ARR) reached $98.1 million, reflecting a 117% increase YOY. The net cash used in operating activities improved by 53% to $10.2 million. Despite a GAAP operating loss of $16.4 million, the company is optimistic, reducing its cash burn and improving guidance for the year. Key contracts with NOAA further indicate business expansion.
Spire Global, Inc. (NYSE: SPIR) has announced its participation in the upcoming SumZero Webcast on November 15, 2022, at 12:00 pm ET. CEO Peter Platzer will present during this virtual event. Spire is recognized as a leading provider of space-based data, analytics, and services, utilizing one of the largest satellite constellations globally. This enables them to offer unique insights that assist organizations in decision-making, improving operations, and mitigating risks.
Spire Global, Inc. (NYSE: SPIR) has launched a dark shipping detection solution aimed at identifying vessels that manipulate their locations to engage in illegal activities such as evading sanctions and illegal fishing. This service enhances existing maritime tracking capabilities by providing near real-time geolocation validation, crucial for governments and NGOs. CEO Peter Mabson emphasized its importance in combating serious societal issues. Spire operates over 100 satellites and plans to introduce additional geolocation products in 2023.
Spire Global (NYSE: SPIR) has secured a contract with DARPA to develop a satellite design for in-situ ionosphere measurements as part of the Ouija program. This initiative aims to enhance understanding of HF radio wave propagation in the ionosphere. Utilizing Spire's Space Services model, the project promises cost-effective access to space for innovative technology development. Previously, Spire was awarded a NOAA contract to create a sensor for real-time weather observations. With over 150 satellites launched, Spire aims to leverage its experience to support these cutting-edge projects.
Spire Global, Inc. (NYSE: SPIR) announced its participation in Deutsche Bank's Global Space Summit on November 10, 2022. The event, held virtually, will feature CEO Peter Platzer and CFO Thomas Krywe as presenters. Spire is recognized as a leading provider of space-based data and analytics, leveraging its extensive satellite constellation to offer valuable insights for organizations. This engagement reflects Spire’s commitment to innovation and problem-solving through space-derived data.
Spire Global (NYSE: SPIR) has signed a Launch Service Agreement with Virgin Orbit (NASDAQ: VORB) to purchase multiple launches starting in 2023. These launches aim to support Spire’s expanding Space Services business and enhance its satellite constellation. Virgin Orbit is preparing for its first international launch from the UK, reflecting a growing backlog of launches. This collaboration showcases the demand in the small satellite market, providing Spire with greater flexibility and reliable access to space for its customers.
Spire Global, Inc. (NYSE: SPIR) announced a conference call on November 9, 2022, at 5:00 p.m. ET to discuss its third quarter 2022 financial results. The results will be released after market close on the same day. Investors can access the live audio call by dialing 877-841-2968 (toll-free) or +1 201-689-8552 (international). A webcast of the call will be available on Spire's Investor Relations website. Spire is a leading provider of space-based data and analytics, utilizing a large satellite constellation to deliver critical insights.
Spire Global (NYSE: SPIR) has secured a study contract from the National Reconnaissance Office (NRO) to analyze the integration of commercial radio frequency (RF) into its operations. This contract is part of NRO's Strategic Commercial Enhancements program, highlighting the agency's ongoing commitment to integrating new capabilities from commercial geospatial providers. Spire's extensive satellite constellation offers critical data for GNSS jamming detection and vessel movement analysis, supporting U.S. military and federal entities.
Spire Global (NYSE: SPIR) announced a two-year contract with NOAA to develop a hyperspectral microwave sensing (HyMS) sensor, enhancing Numerical Weather Predictions (NWP). This project underscores Spire's role in providing high-quality commercial data for weather forecasting. The new technology aims to measure atmospheric moisture more effectively, crucial in the context of extreme weather patterns. The contract is part of NOAA's efforts to collaborate with earth observation companies, marking Spire's fourth contract with NOAA, valued at $23.6 million in FY22.
Spire Global (NYSE: SPIR) has secured a $9.9 million contract from the NOAA to provide 3,300 space-based radio occultation profiles daily, aimed at enhancing weather forecast accuracy. This award marks Spire’s third significant contract from NOAA in FY22, contributing to their ongoing partnership since 2020. Data delivery will commence on January 18, 2023, and continue until July 18, 2023. This initiative underscores the growing emphasis on public-private collaboration to tackle climate challenges.
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