Spire Global Inc Stock Price, News & Analysis

Spire Global, Inc. (NYSE: SPIR) has been included in the Russell 3000® Index, effective June 27, 2022. This inclusion is seen as a significant milestone for the company, reflecting its position in the growing space-based data sector. Membership in the Russell 3000® Index facilitates automatic inclusion in the Russell 1000® and Russell 2000® indices, which are benchmarks for investment strategies, with approximately $12 trillion in assets tracked by Russell's indexes. This marks a notable recognition of Spire's market presence.

Spire Global (NYSE: SPIR) has received a 12-month, $6 million contract extension from NASA to continue its participation in the Commercial Smallsat Data Acquisition (CSDA) Program. Since 2018, Spire has provided critical Earth observation data, including GNSS Grazing Angle Reflectometry and GNSS radio occultation, to improve weather forecasting and monitor climate change. This extension reaffirms the partnership between Spire and NASA, enhancing the availability of valuable data for U.S. government agencies and researchers.

Spire Global, Inc. (NYSE: SPIR) secured a credit facility of up to $120 million led by Blue Torch Capital. This funding will replace an existing $71 million credit facility and support Spire's four strategic growth pillars: investing in sales, expanding into new geographies, enhancing data analytics capabilities, and executing strategic acquisitions. The first tranche of over $100 million is available upon closing, with additional funds contingent on meeting certain conditions by the end of 2022. CFO Thomas Krywe emphasized this move strengthens the company's balance sheet and growth strategy.

Spire Global, Inc. (NYSE: SPIR) has secured its largest subcontract for numerical weather prediction, worth millions, with TCOM, L.P. This five-year deal includes weather forecasts and alerts for ten aerostat sites, a 24/7 weather information contact center, and training for site managers. Spire utilizes over 100 satellites to deliver comprehensive data on weather conditions crucial for efficient operations at these sites. The contract stems from a Department of Defense Foreign Military Sales award, underlining Spire's critical role in operational success in remote areas.

Spire Global, Inc. (NYSE: SPIR) announced the launch of five satellites on SpaceX's upcoming Transporter-5 Mission from Cape Canaveral, Florida. The launch marks a significant milestone for Spire's Space Services, featuring payloads from customers including Myriota and HANCOM inSPACE. These satellites will enhance global IoT services and support defense technology demonstrations. This launch is the largest group of Space Services customers on a single mission, showcasing Spire's growing influence in space-based data and analytics.

Spire Global reported a revenue increase to $18.1 million for Q1 2022, marking an 86% year-over-year growth, with an annual recurring revenue (ARR) of $81.6 million—up 134% year-over-year. The company raised its full-year guidance while decreasing operating loss to $20 million. Significant customer growth included 29 new ARR customers, totaling 627. Noteworthy partnerships were announced, including a space-as-a-service deal with NorthStar. Spire maintains strong growth projections for Q2 and FY22, indicating a promising future.

Spire Global, Inc. (NYSE: SPIR) has announced its participation in the Stifel 2022 Cross Sector Insight Conference on June 9, 2022, in Boston, where CEO Peter Platzer will present from 4:10 to 4:40 p.m. ET. Spire is a leading provider of space-based data and analytics, utilizing one of the largest satellite constellations to deliver unique datasets that empower decision-making across various sectors. The company aims to offer insights that enable organizations to enhance operations, reduce environmental impact, and mitigate risks.

Spire Global, Inc. (NYSE: SPIR) will participate in the Baird 2022 Global Consumer, Technology & Services Conference on June 6, 2022, in New York. CEO Peter Platzer will present from 10:50 a.m. to 11:20 a.m. ET. The event will be webcast live, and replays will be available on the company's investor relations website. Spire is known for providing space-based data and analytics, utilizing a large satellite constellation to deliver unique datasets that help organizations improve operations and mitigate risks.

Spire Global, Inc. (NYSE: SPIR) has secured a contract with Gale Force to provide weather data for its maritime routing platform. This collaboration aims to enhance route optimization, helping customers save time, reduce fuel costs, and improve the accuracy of arrival times at ports. Utilizing Spire’s satellite constellation, Gale Force can access comprehensive weather observations, making maritime travel safer and more efficient. The partnership supports sustainability in shipping by reducing carbon emissions and improving the global trade network.