Spire Global, Inc. specializes in creating advanced hardware and a sophisticated analytics platform designed to observe oceanic activities, atmospheric conditions, and weather ...
Spire Global, Inc. (NYSE: SPIR) is a leading provider of space-based data, analytics, and space services. Founded in 2012 as Nanosatisfi, Inc. and renamed in July 2014, the company operates a large constellation of small satellites that collect data on weather, maritime, aviation, and earth observation. Its advanced hardware and ...Spire Global, Inc. (NYSE: SPIR) is a leading provider of space-based data, analytics, and space services. Founded in 2012 as Nanosatisfi, Inc. and renamed in July 2014, the company operates a large constellation of small satellites that collect data on weather, maritime, aviation, and earth observation. Its advanced hardware and analytics platform enable clients to monitor oceanic activities, atmospheric conditions, and weather phenomena globally. The company serves diverse sectors including maritime, meteorological services, aviation, space operations, and government entities. Key services include maritime tracking, weather forecasting, aviation surveillance, and earth intelligence.
Strategically, Spire has formed alliances such as with TAC Index Limited. With headquarters in San Francisco, California, and additional facilities in Boulder, Colorado, Washington D.C., Glasgow, UK, Luxembourg, and Singapore, Spire operates globally. As of 2025, the leadership includes CEO Theresa Condor, who took office in January 2025, succeeding founder Peter Platzer. The company has shown financial metrics such as a market cap of approximately $466 million, a gross profit margin of 42%, and an EBITDA margin of over 100% (though operating margins are negative). The company has invested heavily in R&D (57.8% of revenue) and has high operating costs. Spire continues to expand its satellite constellation and develop new applications to drive growth and profitability.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$71.6M
-35.2%
+14.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$51.3M
+149.9%
+22.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+40.8%
+12.8%
-14.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-121.4%
-131.3%
-1.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+71.7%
+177.0%
+32.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-92.6M
-105.6%
+15.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-129.4%
-217.4%
+26.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
11.9%
+101.2%
-63.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.30x
+113.4%
+99.1%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Thank you. Greetings and welcome to the Spire Global Second Quarter 2026 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Ben Hackman, Head of IR. Please go ahead.
Benjamin Hackman: Thank you. Hello, everyone, and thank you for joining Spire's second quarter 2026 earnings conference call. Our earnings press release and related SEC filings are posted on the company's IR website. A replay of today's call will also be made available. With me on the call today is Theresa Condor, CEO, and Ali Engel, CFO. As a reminder, our commentary today will include non-GAAP items. Reconciliations between our GAAP and non-GAAP results, as well as our guidance, can be found in our earnings press release, which can be found on our IR website. Some of our comments today contain forward-looking statements that are subject to risks, uncertainties, and assumptions. In particular, our expectations around our future results of operations and financial condition are uncertain and subject to change. Should any of these expectations fail to materialize, or should our assumptions prove to be incorrect, actual company results could differ materially from these forward-looking statements. A description of these risks, uncertainties, and assumptions, and other factors that could affect our financial results is included in our SEC filings. With that, let me hand the call over to Theresa.
Theresa Condor: Thank you, Ben, and good afternoon, everyone. Revenue for the second quarter was $18 million. Excluding the maritime business we divested last year, core revenue expanded both year-over-year and sequentially, marking our strongest core revenue quarter since the divestiture. This is consistent with what we outlined in March when we described 2026 as a sequentially building second-half-weighted year. Two quarters in, that's exactly what we're seeing in the numbers. As a result, we're reaffirming our full-year revenue guidance, which at the midpoint represents 50% year-over-year core revenue growth. On our last call, I pointed to the specific milestones investors should watch this quarter: NOAA decisions on our in-year hyperspectral microwave sounding proposals, RFGL contract activity, and the continued expansion of our RFGL collection capacity. There was progress on each, so let me start there. On NOAA, the proposals we told you we were submitting in May have advanced to negotiation or closed. We are currently in the negotiation phase on an 8-figure contract opportunity tied to our Hyperspectral Microwave Sounder capability following the successful on-orbit validation of our HyMS payload. Combined with last week's NOAA Hyperspectral Microwave Sounder data contract extension, valued at up to $5 million in revenue over a 9-month term, we are encouraged by the growing interest in HyMS. These are 2 sizable opportunities that grew directly out of the flight-proven data we have been generating …
