Spire Global Inc Stock Price, News & Analysis

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.

Spire Global, Inc. (NYSE: SPIR) has secured a $1.7 million contract with NOAA to provide near real-time radio occultation data for its space weather forecast models. This follows an earlier $8 million award aimed at increasing the number of RO profiles provided. The new contract reflects Spire's ongoing contribution to NOAA's studies on ionospheric conditions vital for sectors like aviation and navigation, demonstrating the impact of commercial data on weather modeling. Spire, maintaining a constellation of over 100 satellites, is the leading source of radio occultation data.

Spire Global has appointed Seyed Miri as Director of Space Services for Australia and New Zealand. Miri brings over 20 years of expertise in the Earth observation field and will focus on expanding Spire Space Services, which offers organizations a subscription model for deploying satellite constellations. The company plans to open a new office in Melbourne by Q3 2022, reflecting its growth strategy in the region. Miri's background includes significant roles at Airbus and Jacobs, enhancing Spire's capabilities in space-based data and analytics.

Spire Global (NYSE: SPIR) is enhancing its weather data capabilities by deploying satellites equipped with microwave sounders for atmospheric moisture measurements. This expansion builds on its existing constellation of over 100 satellites and aims to improve weather forecasting accuracy through advanced data collection methods. In collaboration with RAL Space, Spire will launch a demonstrator mission for the Hyperspectral Microwave Sounder (HYMS) technology. This partnership aims to develop a full constellation for atmospheric monitoring, further solidifying Spire's position as a leader in space-based weather data.

Spire Global, Inc. (NYSE: SPIR) has appointed Elizabeth Wylie, Ph.D., as the new Head of Business Development for Australia and New Zealand. Based in Canberra, Wylie will enhance the company's sales operations and expand its regional presence. With over 15 years of experience in Data Science and Innovation roles within the Australian Government, she aims to identify new business opportunities and lead client-relationship management. Spire plans to open an office in Melbourne by Q3 2022, broadening its geographic footprint.

Spire Global, Inc. (NYSE: SPIR) will host a conference call on August 10, 2022 at 5:00 p.m. ET to discuss its Q2 2022 financial results. The earnings release will be available after market close on the same day. Spire will utilize a Q&A platform by Say Technologies allowing verified shareholders to submit and upvote questions from August 3 to August 9. A live webcast will be accessible via Spire's Investor Relations website. For more information, visit ir.spire.com.