$SPIR

Spire Global, Inc.

CIK:0001816017|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 18,048	$ 19,182	$ 33,882	$ 43,058
Cost of revenue	11,890	9,806	21,419	24,970
Gross profit	6,158	9,376	12,463	18,088
Operating expenses:
Research and development	8,180	10,195	16,879	18,854
Sales and marketing	3,205	4,412	6,351	9,943
General and administrative	14,140	17,186	32,266	34,836
Loss on decommissioned satellites and other assets write-offs	526	1,110	1,435	6,270
Total operating expenses	26,051	32,903	56,931	69,903
Loss from operations	(19,893)	(23,527)	(44,468)	(51,815)
Other (expense) income:
Interest income	782	646	1,256	666
Interest expense	0	(1,686)	0	(7,416)
Gain on sale of a business	0	154,305	0	154,305
Loss on extinguishment of debt	0	(12,008)	0	(12,008)
Change in fair value of contingent earnout liability	0	(227)	0	811
Change in fair value of warrant liabilities	(157)	(2,790)	(277)	3,047
Foreign exchange (loss) gain	(577)	6,965	(2,205)	10,791
Other income (expense), net	139	(287)	200	(511)
Total other income (expense), net	187	144,918	(1,026)	149,685
(Loss) income before income taxes	(19,706)	121,391	(45,494)	97,870
Income tax provision	263	1,801	318	1,795
Net (loss) income	$ (19,969)	$ 119,590	$ (45,812)	$ 96,075
(Loss) earnings per share:
Basic	$ (0.52)	$ 3.8	$ (1.28)	$ 3.29
Diluted	$ (0.52)	$ 3.72	$ (1.28)	$ 3.03
Shares used in computing (loss) earnings per share
Basic	38,295,060	31,398,176	35,796,237	29,105,374
Diluted	38,295,060	32,093,646	35,796,237	30,441,536

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net Income (Loss)	$ (45,812)	$ 96,075
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	7,081	6,937
Stock-based compensation	7,006	11,127
Amortization of operating lease right-of-use assets	1,509	1,519
Change in fair value of warrant liabilities	277	(3,047)
Change in fair value of contingent earnout liability	0	(811)
Loss on decommissioned satellites and disposal of assets	1,435	6,270
Loss on extinguishment of debt	0	12,008
Gain on sale of a business	0	(154,305)
Transaction costs on sale of a business	0	(23,744)
Other, net	(930)	2,483
Changes in operating assets and liabilities:
Accounts receivable, net	(2,271)	5,597
Contract assets	(3,057)	(1,285)
Other current assets	(1,034)	(1,769)
Other long-term assets	99	(959)
Accounts payable	(3,039)	(4,931)
Contract liabilities	(2,535)	2,497
Other accrued expenses	(5,965)	4,097
Operating lease liabilities	(2,348)	(1,255)
Other long-term liabilities	0	(8)
Net cash used in operating activities	(49,584)	(43,504)
Cash flows from investing activities
Purchases of short-term investments	(52,571)	(81,118)
Maturities of short-term investments	57,572	0
Purchase of property and equipment	(13,422)	(12,507)
Proceeds from sale of a business, net of cash	0	238,948
Net cash (used in) provided by investing activities	(8,421)	145,323
Cash flows from financing activities
Proceeds from securities purchase agreements, net	65,402	37,297
Payments on long-term debt	0	(105,742)
Payments on long-term debt closing fees	0	(9,091)
Proceeds from exercise of stock options	4,499	870
Proceeds from employee stock purchase plan	336	443
Net cash provided by (used in) financing activities	70,237	(76,223)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	1,754	(8,588)
Net increase in cash, cash equivalents and restricted cash	13,986	17,008
Cash, cash equivalents and restricted cash
Beginning balance	25,392	19,684
Ending balance	39,378	36,692
Supplemental disclosure of cash flow information
Cash paid for interest	0	6,919
Income taxes paid	1,219	0
Non-cash operating, investing and financing activities
Property and equipment purchased but not yet paid	4,073	2,264
Right-of-use assets obtained in exchange for lease liabilities	$ 1,187	$ 1,136

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 38,814	$ 24,813
Marketable securities	52,858	56,969
Accounts receivable, net (including allowance of $382 and $169 as of June 30, 2026 and December 31, 2025, respectively)	6,378	4,178
Contract assets	4,646	1,778
Other current assets	7,091	6,036
Total current assets	109,787	93,774
Property and equipment, net	85,060	80,806
Operating lease right-of-use assets	7,958	10,798
Goodwill	14,880	15,450
Intangible assets, net	8,000	9,079
Other long-term assets, including restricted cash	979	1,085
Total assets	226,664	210,992
Current liabilities
Accounts payable	12,379	14,866
Contract liabilities, current portion	32,625	35,160
Other accrued expenses	13,648	22,266
Total current liabilities	58,652	72,292
Contract liabilities, non-current	13,869	14,207
Warrant liability	383	106
Operating lease liabilities, net of current portion	6,795	8,755
Other long-term liabilities	2,680	2,704
Total liabilities	82,379	98,064
Commitments and contingencies (Note 9)
Stockholders' equity
Common stock, $0.0001 par value, 1,000,000,000 Class A and 15,000,000 Class B shares authorized, 39,107,030 Class A and 1,507,325 Class B shares issued and outstanding at June 30, 2026; 33,107,807 Class A and 1,507,325 Class B shares issued and outstanding at December 31, 2025	4	3
Additional paid-in capital	683,093	605,700
Accumulated other comprehensive loss	(5,660)	(5,435)
Accumulated deficit	(533,152)	(487,340)
Total stockholders' equity	144,285	112,928
Total liabilities and stockholders' equity	$ 226,664	$ 210,992