Welcome to our dedicated page for Spire Global news (Ticker: SPIR), a resource for investors and traders seeking the latest updates and insights on Spire Global stock.
Spire Global, Inc. (NYSE: SPIR) is a global provider of space-based data, analytics, and intelligence, and its news flow reflects activity across weather, environmental monitoring, defense, and space services. The SPIR news page on Stock Titan aggregates company announcements, contract wins, launch updates, and regulatory disclosures so readers can see how Spire’s satellite constellation and data products are being used in practice.
Recent news highlights include satellite launches aboard SpaceX missions, where Spire has deployed its own satellites and platforms for customers such as GHGSat, Lacuna Space, Deloitte, and Myriota. These missions support greenhouse gas monitoring, IoT connectivity in remote regions, on-orbit cyber and data operations, and replenishment of Spire’s dual-use constellation carrying radio occultation and AIS payloads. Updates on the Hyperspectral Microwave Sounder (HyMS) demonstrator show how Spire is advancing hyperspectral microwave sensing for global weather forecasting.
Investors and followers of SPIR can also track announcements about weather and climate products, such as the expansion of Spire’s AI-driven Power Generation Forecasts to the ERCOT market and the use of Soil Moisture Insights in climate and conflict early warning research in Ethiopia’s Somali Region. Defense and security-related news includes Spire’s selection for the Missile Defense Agency’s SHIELD IDIQ contract and descriptions of its space reconnaissance capabilities.
Regulatory and financial updates, including earnings releases, NYSE compliance notices related to delayed Form 10-Q filings, and changes in audit firms, are also part of Spire’s news record. By reviewing this news feed, readers can follow how Spire’s satellite data, RF sensing, and Space as a Service offerings evolve across commercial, governmental, and international projects.
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.
Spire Global (NYSE: SPIR) has announced an agreement to sell its maritime business to Kpler for approximately $241 million, comprising $233.5 million purchase price and $7.5 million for services. The purchase price values the portfolio at ~5.8x trailing twelve months revenue. Spire will retain its satellite network and continue serving aviation, weather, space services, and U.S. government maritime customers. The company plans to use proceeds to retire all outstanding debt and invest in growth opportunities, focusing on climate change and global security challenges. The transaction is expected to close by Q1 2025.
Spire Global (NYSE: SPIR) reported its highest quarterly bookings of $40.0 million in Q3 2024. The company's cash position decreased from $45.8M to $36.6M after making a $10.0M loan payment to Blue Torch Finance. Spire is conducting an accounting review focusing on revenue recognition practices for Space Services and R&D contracts. The company will restate previous financial statements, recognizing Space Services revenue over the data delivery period rather than pre-space activities. Most satellites don't qualify for embedded lease treatment. R&D contract revenue will shift to a percentage-of-completion methodology. The company expects to file restated financials and Q2/Q3 2024 reports by February 19, 2025.
Spire Global (NYSE: SPIR) and OroraTech have been awarded a NASA contract to develop space-based capabilities for wildfire early detection and monitoring. The partnership will create a low-cost orbital solution for monitoring wildfire-prone areas in the United States. The project combines Spire's space and ground systems expertise with OroraTech's thermal infrared sensing technology. By 2025, the companies plan to launch eight wildfire-detecting satellites (OTC-P1), creating the largest constellation dedicated to wildfire monitoring. This initiative addresses the projected 30% increase in extreme wildfires by 2050, according to UN reports.
Spire Global and Mission Control have announced a collaborative mission at the International Aeronautical Congress (IAC) to explore the power of artificial intelligence (AI) in space. The Persistence Mission aims to demonstrate how AI can be reliably used onboard satellites for long periods to generate real-time actionable insights.
Spire will build and operate the LEMUR 6, a 6U satellite with an optical payload for Earth imaging. Mission Control will showcase its SpacefarerAI™ platform, designed to streamline AI model deployment and updates for spaceflight applications. The mission, supported by the Canadian Space Agency, is scheduled for launch no earlier than 2025.
This collaboration aims to advance on-orbit AI processing, potentially revolutionizing Earth observation and space exploration by moving intelligence to the edge, directly onboard spacecraft.
Spire Global, Inc. (NYSE: SPIR) has been awarded a $3,832,500 contract by the National Oceanic and Atmospheric Administration (NOAA) to provide radio occultation (RO) data for one year, from September 18, 2024, to September 18, 2025. This data, consisting of vertical profiles of atmospheric measurements, will be used for NOAA's operational weather forecasts, space weather models, and climate research. The contract is part of an Indefinite Delivery Indefinite Quantity (IDIQ) agreement with a $59 million ceiling for NOAA's Commercial Weather Data Program's Radio Occultation Data Buy II.
Spire Global (NYSE: SPIR), a leading provider of space-based data, analytics, and space services, has announced its participation in the upcoming H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9, 2024, with Spire's presentation set for 11:00 a.m. ET.
Peter Platzer, Spire's CEO, will be presenting at the conference. Investors and interested parties can access the presentation through a webcast link provided by the company. This event offers an opportunity for Spire to showcase its capabilities and engage with the investment community, potentially impacting its market position and investor relations.