Spire Global, Inc. - SPIR STOCK NEWS

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.

Spire Global, Inc. (NYSE: SPIR) announced a contract extension with NASA for the Commercial Smallsat Data Acquisition Program, focusing on the SNOOPI mission. This mission aims to measure root-zone soil moisture using P-band signals from a satellite in low Earth orbit. Spire's technology allows deeper soil measurements compared to previous methods, aiding in agricultural forecasting and flood prediction. NASA integrates Spire's data into various research applications, enhancing atmospheric analysis and providing critical insights for climate change adaptation.

Spire Global, Inc. (NYSE: SPIR) has announced a Space Services agreement with GHGSat to enhance greenhouse gas emissions monitoring. Three 16U satellites, scheduled for launch in 2023, will carry GHGSat's payload to collect vital data for industrial emissions tracking. This collaboration aims to support global efforts in achieving net-zero targets, utilizing Spire's robust space services. GHGSat, currently operating six satellites, will now expand its capabilities to provide more accurate emissions data.

Spire Global, Inc. (NYSE: SPIR) has filed an S-3 shelf registration statement with the SEC, allowing it to issue various securities totaling up to $180 million. This includes an ATM offering for up to $85 million of Class A common stock. Although the registration statement is filed, it has not yet taken effect, meaning the securities cannot be sold or offered until then. Potential investors are advised to review the related prospectus available on the SEC’s website for complete information.

Spire Global, Inc. (NYSE: SPIR), a provider of space-based data and analytics, announced its participation in two upcoming events aimed at engaging with investors. The first event is the Gabelli Funds 28th Annual Aerospace & Defense Symposium on September 8, 2022, featuring COO Theresa Condor. The second is the RBC Capital Markets Global Industrials Conference on September 13, 2022, where CFO Thomas Krywe will hold one-on-one meetings with investors. Spire utilizes a significant satellite constellation to deliver unique data and insights for informed decision-making.

Spire Global, Inc. (NYSE: SPIR) has appointed Boyd Johnson as its new Chief Legal Officer, bringing over 25 years of experience in public company law, compliance, and governance. Johnson replaces Ananda Martin, who held the position since 2018. His notable past roles include General Counsel at SPS Commerce, where he led public offerings and acquisitions, and at Merrill Corporation. Johnson aims to enhance Spire’s strategic and business objectives leveraging his legal expertise.

Spire Global, Inc. (NYSE: SPIR) has appointed Joan Amble to its board of directors. Ms. Amble, an experienced leader in finance, previously held senior roles at American Express and GE Capital Markets. Her expertise in corporate governance is expected to enhance Spire's leadership as the company scales. CEO Peter Platzer praised her collaborative spirit, highlighting her commitment to mentoring. Amble expressed enthusiasm about Spire's potential in the space data industry, indicating valuable insights ahead.

Spire Global, Inc. (SPIR) reported a 113% revenue increase year-over-year, totaling $19.4 million, surpassing expectations. Their annual recurring revenue (ARR) soared 133% to $85.3 million, fueled by new customer acquisitions. The net retention rate improved to 108%. The CEO highlighted strong execution amid global challenges, while the CFO noted a successful $120 million credit facility to enhance their balance sheet. However, the company reported a GAAP operating loss of $16.4 million, indicating ongoing challenges in achieving profitability.

Spire Global (NYSE: SPIR) announced a new agreement with HANCOM inSPACE for a second payload mission, following the successful launch of HANCOM-1 in May 2022. The new payload, named HANCOM-2, will be integrated and launched on a Spire 6U satellite to collect optical imagery for agriculture applications. Spire is set to enhance its partnership with Hancom, which aims to build a constellation of up to 50 satellites for data analysis in crop observations and predictions, targeting markets in Asia and the Middle East.