Spire Global Inc Stock Price, News & Analysis

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.

Spire Global, Inc. (NYSE: SPIR) has announced key appointments in its People organization to enhance recruitment and employee experience. Michelle Nadeau joins as Global Head of People Operations, Ross Burns as Global Head of Talent Acquisition, Alex Beauchamp as Global Head of Total Rewards, and Sarah Wright as Principal HR Business Partner for North America. These strategic hires aim to build a high-performing, inclusive culture and support the company's growth. Spire operates with over 375 employees across six countries, leveraging space-based data for diverse organizations.

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.