Spire Global, Inc. - SPIR STOCK NEWS

Spire Global, Inc. (NYSE: SPIR) has been awarded a contract by the National Reconnaissance Office (NRO) to enhance its commercial radio frequency (RF) data capabilities. This contract extends through March 1, 2025 and supports the NRO's Strategic Commercial Enhancements program initiated in September 2022. The integration of commercial RF data aims to bolster situational awareness and address emerging intelligence challenges. Spire operates over 100 satellites providing critical data for military and federal agencies, enhancing global security and operational efficiency.

Spire Global, Inc. (NYSE: SPIR) has secured an Indefinite Delivery Indefinite Quantity (IDIQ) contract from NOAA, valued at a ceiling of $59 million, effective March 27, 2023, to March 26, 2028. This contract allows Spire to provide critical near-real-time radio occultation data, enhancing NOAA's weather forecasts and climate research capabilities. As the largest producer of RO data, Spire operates over 100 satellites, currently delivering 20,000 profiles daily, with the potential to reach 100,000 profiles in 18-24 months. This contract builds upon a strong partnership as Spire previously received $23.6 million in NOAA contracts in FY22.

Spire Global, Inc. (NYSE: SPIR) has been awarded a contract by NOAA totaling $59 million as part of the Commercial Weather Data Program's Radio Occultation Data Buy II. The contract began on March 27, 2023 and extends until March 26, 2028. Spire, the largest producer of radio occultation (RO) data, will deliver near-real-time atmospheric measurements to enhance NOAA's weather forecasts. The company aims to increase its daily RO profile output from 20,000 to potentially 100,000 in 18-24 months. Spire previously secured four NOAA contracts in FY22 amounting to $23.6 million.

Spire Global, Inc. (NYSE: SPIR) announced that it is not in compliance with NYSE Rule 802.01C regarding the minimum average closing price of its Class A common stock over a 30-day trading period. However, this notification does not lead to immediate delisting. The Company plans to inform the NYSE of its intent to regain compliance within 10 business days and can restore compliance if its stock price closes at or above $1.00 at the end of any calendar month during the cure period. Spire is considering a reverse stock split, pending shareholder approval, as one option to achieve compliance.

Spire Global, Inc. (NYSE: SPIR), a leader in space-based data and analytics, will participate in the Canaccord Genuity NewSpace Investor Summit on March 27, 2023. The presentation, led by CEO Peter Platzer, is scheduled for 11:00 a.m. ET. Spire leverages a large satellite constellation to provide valuable data, enhancing decision-making for organizations worldwide. This event represents Spire's ongoing commitment to innovative data solutions and engagement with investors. A webcast of the presentation can be accessed here.

Spire Global reported a record quarterly revenue of $22.4M, reflecting a 49% year-over-year increase. During Q4 2022, net cash used in operating activities improved by 72% year-over-year to $5.1M. The company's annual recurring revenue (ARR) reached $99.4M, up 41% year-over-year, with an ARR net retention rate of 117%. Looking ahead, Spire anticipates a strong 2023, projecting revenue between $104M and $109M for the full year, indicating a 30%-36% growth. The company continues to focus on achieving profitability and plans to be free cash flow positive in 12 to 18 months.

Spire Global, Inc. (NYSE: SPIR) announces its participation in the Bank of America Global Industrials Conference on March 21, 2023, in London. CEO Peter Platzer will present at this in-person event. Spire is a prominent provider of space-based data and analytics, utilizing a large satellite constellation to deliver unique datasets that help organizations improve operations, reduce environmental impacts, and mitigate risks. By offering subscription-based access to valuable data, Spire aims to support commercial and governmental entities in making informed decisions and gaining competitive advantages.

Spire Global, Inc. (NYSE: SPIR) has scheduled a conference call on March 8, 2023, at 5:00 p.m. ET to discuss its fourth quarter and full year 2022 financial results. The results will be released after the market closes on the same day. Investors can join the conference call via a live webcast accessible on Spire Global’s Investor Relations website. Spire is a leading provider of space-based data, utilizing a large satellite constellation to deliver unique datasets and predictive analytics, enabling organizations to make data-driven decisions efficiently and effectively.

Spire Global, Inc. (NYSE: SPIR) announced its participation in two significant industry events. The first is the Cowen 44th Annual Aerospace/Defense & Industrials Conference on February 16, 2023, from 8:30 a.m. to 9:10 a.m. ET in Arlington, VA, featuring a presentation by CFO Thomas Krywe. The second event is the Barclays Industrial Select Conference on February 22, 2023, in Miami, FL, also presented by Krywe. Spire is a leader in space-based data analytics, utilizing its extensive satellite constellation to supply critical data for organizations worldwide. This participation demonstrates Spire's commitment to innovation in space data solutions.