Spire Global Inc Stock Price, News & Analysis

Spire Global (NYSE: SPIR) has appointed Alison Engel as its new Chief Financial Officer, effective April 1, 2025. Engel brings nearly two decades of CFO experience, most recently serving as CFO of LeaseAccelerator (2023-2024). Her previous roles include CFO positions at Gannet (2015-2020) and DallasNews (2008-2014).

Engel, who holds accounting degrees from the University of Texas at Austin, will be based at Spire's Vienna, Virginia headquarters. She replaces Thomas Krywe, who served as interim CFO and will remain as an executive advisor through April.

Spire Global (NYSE: SPIR) has launched two advanced AI weather models - AI-WX and AI-S2S - built on NVIDIA Omniverse Blueprint for Earth-2. The models leverage Spire's proprietary satellite data to provide medium-range forecasts up to 20 days (AI-WX) and sub-seasonal forecasts extending to 45 days (AI-S2S).

The AI-driven models run 1,000 times faster than traditional physics-based models and integrate data from Spire's satellite network, including atmospheric profiles, soil moisture readings, and ocean surface winds. Unlike traditional deterministic models, they provide probabilistic forecasts offering multiple possible weather outcomes.

Notable customers Freepoint Commodities and Dominion Energy are already utilizing these models to navigate market complexities and evaluate potential risks of extreme weather events. The models are particularly valuable for industries such as energy, utilities, and commodities that are vulnerable to weather-related disruptions.

Spire Global (NYSE: SPIR) has announced a $40.0 million private placement through the sale of 5.0 million shares of Class A common stock at $8.00 per share and pre-funded warrants at $7.9999 per warrant. The transaction, expected to close around March 14, 2025, includes pre-funded warrants with a $0.0001 exercise price per share that will be immediately exercisable.

Craig-Hallum Capital Group is serving as the sole placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. As part of the agreement, Spire will file a registration statement with the SEC covering the resale of the common stock shares and those underlying the pre-funded warrants.

Spire Global (NYSE: SPIR) has announced it will host a conference call with investors and analysts on Tuesday, March 4, 2025 at 8:30 a.m. ET to discuss both their third quarter 2024 financial results and restatement results. The financial results will be released on March 3, 2025.

Investors can join the live webcast through Spire's Investor Relations website at ir.spire.com. For audio participation, the toll-free number is 877-841-2968, while international callers can dial +1 201-689-8552 using conference ID 13752053. A replay of the webcast will remain available on the IR website for six months.

Spire Global (NYSE: SPIR) reported strong Q3 2024 results with revenue reaching $28.6 million, marking a 29% year-over-year growth. The company achieved positive cash flow from operations of $14.0 million and positive free cash flow of $5.1 million.

Key highlights include:

• Record quarterly bookings with $40.0 million in annual contract value
• Revenue of $88.8 million for the first nine months of 2024, up 21% year-over-year
• Q3 GAAP operating loss of $13.7 million, improved 18% year-over-year
• Net loss of $12.5 million, showing 47% year-over-year improvement

The company secured significant contracts, including $6.7 million from NASA for Earth observation data and $3.8 million from NOAA for radio occultation data. Spire successfully launched seven satellites during Q3 2024, bringing their total launched satellites to 186.

Spire Global (NYSE: SPIR) has achieved a significant technological breakthrough by successfully establishing a two-way optical link between two satellites in orbit. The satellites, launched in June 2023, are equipped with optical inter-satellite link (OISL) payloads that create lasers to transmit information securely between satellites up to 5,000 kilometers apart.

The OISL technology, developed with support from the European Space Agency (ESA) and UK Space Agency, features a miniaturized optical system the size of a tissue box. This advancement promises to enhance data transmission speed, security, and reduce latency for applications including weather forecasting, global communications, and remote sensing.

Following this milestone, Spire plans to launch three additional LEMUR satellites with OISL technology in 2025, with two scheduled for the Transporter-13 rideshare mission via SpaceX. The mission will also include four additional LEMUR satellites to maintain the company's constellation and support Space Services customers.

Spire Global Canada has been awarded a Can$72 million contract by the Government of Canada to design and develop a satellite constellation for monitoring active wildfires across Canada as part of the WildFireSat mission. The company will partner with OroraTech to develop the payloads for the constellation.

Canada currently spends approximately Can$1 billion annually on wildfire fighting, with significant indirect costs from property damage, evacuations, and economic losses. Indigenous communities, representing 5% of Canada's population, account for 42% of wildfire-related evacuations.

The project includes expanding Spire's Canadian office in Cambridge, Ontario, to add satellite manufacturing capabilities. The WildFireSat constellation is scheduled for launch in 2029 and will operate for a minimum of five years under Canadian Space Agency management, focusing on the late afternoon 'peak burn period' to enhance wildfire response and community protection.

Spire Global (NYSE: SPIR) announced a planned leadership transition, with COO Theresa Condor appointed as CEO effective January 1, 2025, while current CEO Peter Platzer will become Executive Chairman. The company also appointed two aerospace veterans: Celia Pelaz as COO and Gabriel Oehme as Chief Transformation Officer, both starting January 6, 2025. The transition follows Spire's recent agreement to sell its maritime business for $241 million, which will be used to retire debt and invest in growth. Additionally, CFO Leo Basola will step down following completion of accounting review and restatement, with former CFO Thomas Krywe serving interim.

Spire Global (NYSE: SPIR) has been selected by LatConnect60 to provide GNSS-R data and Soil Moisture Insights for improving sustainable agriculture practices. LatConnect60 will integrate Spire's data into its web-based platforms to deliver actionable intelligence for water management and crop monitoring across Southeast Asia and Australia. The partnership combines LatConnect60's satellite fleet capabilities with Spire's GNSS-R technology to provide daily soil moisture readings at 500-meter and six-kilometer resolutions, even in challenging conditions like heavy cloud cover and dense canopy environments.