Spire Global Inc Stock Price, News & Analysis

Spire Global (NYSE: SPIR) announced its Q3 2021 results, reporting $9.6 million in revenue—a 33% increase year-over-year. Annual Recurring Revenue (ARR) surged 51% to $45.2 million, with 225 ARR Solution Customers, up 69%. Noteworthy developments include the acquisition of exactEarth, adding 150 new customers, and significant contracts with EUMETSAT and NOAA for weather solutions. Despite strong performance, Spire revised down its guidance for non-GAAP gross profit and EBITDA due to merger-related expenses. Future expectations include revenue guidance of $40 to $42 million for 2021.

Spire Global, Inc. (NYSE: SPIR) announced its inclusion as a subcontractor in a NASA contract aimed at community overflight tests for the X-59 Quiet SuperSonic Technology. The contract, valued at up to $29 million over eight years, will enable Spire to provide vital weather data to support the Low-Boom Flight Demonstration mission. This partnership emphasizes Spire's role in enhancing community responses to sonic booms while advancing supersonic aviation technology.

Spire Global, Inc. announced the appointment of Theresa Condor as Chief Operating Officer, responsible for overseeing global operations in Weather, Aviation, Earth Intelligence, and Space Services. Ms. Condor, a key figure in Spire's growth, has previously led business development and secured significant contracts. CEO Peter Platzer emphasized her strategic understanding of the company. Spire leverages a large satellite constellation to provide critical data for decision-making across various sectors, aiding both commercial and government initiatives.

Spire Global, Inc. (NYSE: SPIR) has opened a new, larger office in Vienna, Virginia, aimed at enhancing its service capabilities for federal clients, including NASA and NOAA. This expansion is in response to increased demand for space-based data solutions and aims to accommodate growth in 2022. The new facility will focus on providing diverse services such as global maritime coverage and weather predictions. The company continues to innovate in space analytics, leveraging its satellite constellation to deliver valuable insights for both government and commercial sectors.

Spire Global, Inc. (NYSE: SPIR) will hold a conference call on November 10, 2021 at 5:00 p.m. ET to discuss its Q3 2021 financial results. The results will be released after market close on the same day. Investors can access the live webcast on Spire's Investor Relations website. The company, a leader in space-based data and analytics, offers vital insights from its extensive satellite constellation to help organizations make informed decisions.

Today, Spire Global (NYSE: SPIR) announced the launch of Maritime 2.0, an upgraded maritime solution designed to enhance vessel tracking and global shipping data analytics. This update features smarter, cleaner AIS data, a 20% increase in daily message coverage, and introduces GraphQL for improved data query capabilities. With these advancements, Spire aims to address port congestion and optimize global supply chains while enhancing the precision and scalability of its services. Maritime 2.0 is now available for customers seeking to streamline operations.

Spire Global, Inc. (NYSE: SPIR) has partnered with Southern Launch to deliver a hyper-local weather forecasting solution for rocket launch sites in Australia. The Spire Weather Point Optimized Forecast will provide precise forecasts by considering local sensors and weather patterns, crucial for ensuring safe and timely launches. This collaboration aims to enhance mission success rates and support safety decisions in unpredictable weather conditions, benefiting various sectors reliant on accurate weather data.

Francisco Partners has successfully closed its FP Credit Partners II fund, raising $2.2 billion, surpassing its $1.25 billion target. The fund will provide flexible credit and structured solutions within the technology sector, addressing growth, M&A, and liquidity needs. Notable partnerships include Eventbrite (NYSE:EB) and Spire Global (NYSE:SPIR). Co-Founder Dipanjan Deb emphasized the opportunity in technology's disruption across industries. The fund has attracted a diverse group of investors, including pension funds and family offices.

Spire Global, Inc. (NYSE: SPIR) has announced an extension of its subscription agreement with LatConnect 60, an Australian satellite data provider, for its Automatic Identification System (AIS) vessel tracking data. This partnership coincides with a federal grant awarded to LatConnect 60 and Curtin University for research on maritime collision avoidance. The project aims to enhance maritime safety by utilizing Spire's satellite data and developing algorithms for better traffic predictions, ultimately reducing collision risks in shipping lanes.