Spire Global Inc Stock Price, News & Analysis

Spire Global and Myriota have expanded their Space Services partnership with a new agreement to design, build, and operate 16 additional satellites with enhanced second-generation payloads for IoT connectivity. This expansion will increase Myriota's total satellite deployment through Spire to over 40 satellites.

The collaboration, which began in 2021, has enabled Myriota to scale its IoT platform by deploying network software on Spire's optimized satellites. The expanded constellation will deliver improved IoT connectivity features including:

• Enhanced security
• Faster data access
• Reduced latency
• Better device control
• Improved firmware updating capabilities

This partnership aims to address critical gaps in IoT communication, serving sectors like agriculture, water, and logistics with ultra-low power networks featuring multi-year sensor battery life.

Spire Global (NYSE: SPIR) has completed the sale of its maritime business to Kpler for approximately $233.5 million, plus a $7.5 million service agreement extending over twelve months post-closure. The company has utilized the proceeds to completely eliminate its outstanding debt, with the remaining funds allocated for investment in near-term growth opportunities.

Spire Global (NYSE: SPIR) reported its Q4 and full year 2024 results, achieving $110.5 million in revenue for 2024, representing a 13% year-over-year growth. The company demonstrated significant operational improvements with cash flows used in operations of $18.5 million, a 49% improvement year-over-year, and free cash flow of ($45.0 million), a 16% improvement year-over-year.

The company maintains strong future commitments with $216.4 million in remaining performance obligations, of which 31% is expected to be recognized within 12 months. For 2025, Spire projects revenue growth of 12-17%, excluding the held-for-sale maritime business, with growth concentrated in the second half. The company anticipates approximately 20% revenue growth in 2026.

Notable business developments include a new AI space exploration mission with Mission Control and a partnership with LatConnect60 for sustainable agriculture practices using GNSS reflectometry data and Soil Moisture Insights.

Spire Global (NYSE: SPIR), a space-based data, analytics and space services provider, has scheduled its fourth quarter and full year 2024 financial results conference call for March 31, 2025, at 5:00 p.m. ET. The company will release its financial results after market close on the same day.

Investors and analysts can access the live webcast through Spire's Investor Relations website at ir.spire.com. For audio participation, a toll-free dial-in number (877-841-2968) is available with conference ID 13752752. A replay of the webcast will remain accessible on the company's IR website for six months.

Spire Global (NYSE: SPIR) has appointed Alison Engel as its new Chief Financial Officer, effective April 1, 2025. Engel brings nearly two decades of CFO experience, most recently serving as CFO of LeaseAccelerator (2023-2024). Her previous roles include CFO positions at Gannet (2015-2020) and DallasNews (2008-2014).

Engel, who holds accounting degrees from the University of Texas at Austin, will be based at Spire's Vienna, Virginia headquarters. She replaces Thomas Krywe, who served as interim CFO and will remain as an executive advisor through April.

Spire Global (NYSE: SPIR) has launched two advanced AI weather models - AI-WX and AI-S2S - built on NVIDIA Omniverse Blueprint for Earth-2. The models leverage Spire's proprietary satellite data to provide medium-range forecasts up to 20 days (AI-WX) and sub-seasonal forecasts extending to 45 days (AI-S2S).

The AI-driven models run 1,000 times faster than traditional physics-based models and integrate data from Spire's satellite network, including atmospheric profiles, soil moisture readings, and ocean surface winds. Unlike traditional deterministic models, they provide probabilistic forecasts offering multiple possible weather outcomes.

Notable customers Freepoint Commodities and Dominion Energy are already utilizing these models to navigate market complexities and evaluate potential risks of extreme weather events. The models are particularly valuable for industries such as energy, utilities, and commodities that are vulnerable to weather-related disruptions.

Spire Global (NYSE: SPIR) has announced a $40.0 million private placement through the sale of 5.0 million shares of Class A common stock at $8.00 per share and pre-funded warrants at $7.9999 per warrant. The transaction, expected to close around March 14, 2025, includes pre-funded warrants with a $0.0001 exercise price per share that will be immediately exercisable.

Craig-Hallum Capital Group is serving as the sole placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. As part of the agreement, Spire will file a registration statement with the SEC covering the resale of the common stock shares and those underlying the pre-funded warrants.

Spire Global (NYSE: SPIR) has announced it will host a conference call with investors and analysts on Tuesday, March 4, 2025 at 8:30 a.m. ET to discuss both their third quarter 2024 financial results and restatement results. The financial results will be released on March 3, 2025.

Investors can join the live webcast through Spire's Investor Relations website at ir.spire.com. For audio participation, the toll-free number is 877-841-2968, while international callers can dial +1 201-689-8552 using conference ID 13752053. A replay of the webcast will remain available on the IR website for six months.

Spire Global (NYSE: SPIR) reported strong Q3 2024 results with revenue reaching $28.6 million, marking a 29% year-over-year growth. The company achieved positive cash flow from operations of $14.0 million and positive free cash flow of $5.1 million.

Key highlights include:

• Record quarterly bookings with $40.0 million in annual contract value
• Revenue of $88.8 million for the first nine months of 2024, up 21% year-over-year
• Q3 GAAP operating loss of $13.7 million, improved 18% year-over-year
• Net loss of $12.5 million, showing 47% year-over-year improvement

The company secured significant contracts, including $6.7 million from NASA for Earth observation data and $3.8 million from NOAA for radio occultation data. Spire successfully launched seven satellites during Q3 2024, bringing their total launched satellites to 186.