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Spire Global (SPIR) Financials

Spire Global logo
$10.96 -1.19 (-9.76%)
Closing price 07/20/2026 03:59 PM Eastern
Extended Trading
$11.26 +0.31 (+2.78%)
As of 08:48 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Spire Global

Annual Income Statements for Spire Global

This table shows Spire Global's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -33 -38 -99 -78 -103 51
Consolidated Net Income / (Loss)		 -33 -38 -99 -78 -103 51
Net Income / (Loss) Continuing Operations		 -33 -38 -99 -78 -103 51
Total Pre-Tax Income 		-32 -38 -99 -78 -103 55
Total Operating Income		 -26 -68 -79 -59 -69 -96
Total Gross Profit		 18 25 17 39 40 29
Total Revenue		 28 43 71 98 110 72
Operating Revenue		 28 43 71 98 110 72
Total Cost of Revenue		 10 19 54 60 75 42
Operating Cost of Revenue		 10 19 54 59 71 42
Other Cost of Revenue		 - - - 1.22 4.03 0.00
Total Operating Expenses		 44 92 96 96 105 125
Selling, General & Admin Expense		 13 40 45 42 50 64
Marketing Expense		 10 20 29 26 23 15
Research & Development Expense		 21 32 22 28 29 37
Other Operating Expenses / (Income)		 0.67 0.00 0.55 0.75 3.45 9.13
Total Other Income / (Expense), net		 -6.09 30 -20 -19 -34 151
Interest Expense		 6.77 15 36 19 20 19
Interest & Investment Income		 0.05 0.02 0.95 2.33 1.55 2.44
Other Income / (Expense), net		 0.63 45 16 -2.22 -15 168
Income Tax Expense		 0.40 0.50 0.29 -0.14 0.16 3.61
Basic Earnings per Share		 ($1.85) ($0.61) ($5.66) ($3.96) ($4.28) $1.66
Weighted Average Basic Shares Outstanding		 17.61M 62.14M 17.48M 19.58M 24.16M 30.91M
Diluted Earnings per Share		 ($1.85) ($0.61) ($5.66) ($3.96) ($4.28) $1.49
Weighted Average Diluted Shares Outstanding		 17.61M 62.14M 17.48M 19.58M 24.16M 31.95M
Weighted Average Basic & Diluted Shares Outstanding		 17.61M 151.53M 156.04M 23.64M 32.47M 35.01M

Quarterly Income Statements for Spire Global

This table shows Spire Global's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -23 -17 -26 -17 -12 -48 -24 120 -20 -28 -26
Consolidated Net Income / (Loss)		 -23 -17 -26 -17 -12 -48 -24 120 -20 -28 -26
Net Income / (Loss) Continuing Operations		 -23 -17 -26 -17 -12 -48 -24 120 -20 -28 -26
Total Pre-Tax Income 		-23 -18 -26 -16 -12 -48 -24 121 -20 -26 -26
Total Operating Income		 -17 -13 -12 -12 -14 -31 -28 -24 -21 -26 -25
Total Gross Profit		 9.49 6.43 9.23 11 13 7.03 8.71 9.38 4.64 6.36 6.31
Total Revenue		 22 24 35 25 29 22 24 19 13 16 16
Operating Revenue		 22 24 35 25 29 22 24 19 13 16 16
Total Cost of Revenue		 13 19 26 15 18 16 15 9.81 8.03 9.47 9.53
Operating Cost of Revenue		 13 18 26 14 16 15 15 9.81 8.03 9.47 9.53
Total Operating Expenses		 26 18 21 23 24 36 37 33 26 32 31
Selling, General & Admin Expense		 11 8.24 9.84 10 12 18 18 17 14 17 18
Marketing Expense		 6.99 5.18 5.12 5.17 5.66 6.28 5.53 4.41 2.82 3.37 3.15
Research & Development Expense		 7.93 4.75 6.04 7.52 5.63 10 8.66 10 9.12 8.85 8.70
Other Operating Expenses / (Income)		 0.16 0.12 0.18 0.53 0.25 2.41 5.16 1.11 0.00 2.86 0.91
Total Other Income / (Expense), net		 -6.52 -4.71 -14 -4.14 1.29 -18 4.77 145 1.37 -0.16 -1.21
Interest Expense		 4.73 5.02 5.05 4.77 4.83 5.70 5.73 14 0.00 - 0.00
Interest & Investment Income		 0.54 0.59 0.45 0.57 0.41 0.12 0.02 0.65 1.02 0.76 0.47
Other Income / (Expense), net		 -2.33 -0.28 -8.97 0.06 5.71 -12 10 158 0.36 -0.92 -1.69
Income Tax Expense		 -0.00 -0.58 -0.01 0.07 0.04 0.06 -0.01 1.80 -0.00 1.82 0.06
Basic Earnings per Share		 ($1.12) ($0.88) ($1.17) ($0.68) ($0.50) ($2.00) ($0.88) $3.80 ($0.61) ($0.76) ($0.78)
Weighted Average Basic Shares Outstanding		 20.76M 19.58M 21.81M 24.49M 24.92M 24.16M 26.79M 31.40M 32.50M 30.91M 33.27M
Diluted Earnings per Share		 ($1.12) ($0.88) ($1.17) ($0.68) ($0.50) ($2.00) ($0.88) $3.72 ($0.61) ($0.85) ($0.78)
Weighted Average Diluted Shares Outstanding		 20.76M 19.58M 21.81M 24.49M 24.92M 24.16M 26.79M 32.09M 32.50M 31.95M 33.27M
Weighted Average Basic & Diluted Shares Outstanding		 22.36M 23.64M 25.82M - - 32.47M 32.58M - 34.61M 35.01M 40.22M

Annual Cash Flow Statements for Spire Global

This table details how cash moves in and out of Spire Global's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -8.55 94 -62 -18 -9.95 5.71
Net Cash From Operating Activities		 -15 -58 -46 -36 -18 -60
Net Cash From Continuing Operating Activities		 -15 -58 -46 -36 -18 -60
Net Income / (Loss) Continuing Operations		 -33 -38 -99 -78 -103 51
Consolidated Net Income / (Loss)		 -33 -38 -99 -78 -103 51
Depreciation Expense		 5.55 8.51 18 18 22 12
Amortization Expense		 0.34 3.88 6.13 5.27 4.84 3.08
Non-Cash Adjustments To Reconcile Net Income		 6.67 -31 15 13 40 -141
Changes in Operating Assets and Liabilities, net		 5.18 -2.23 13 4.44 18 15
Net Cash From Investing Activities		 -10 -119 -44 -4.97 -14 151
Net Cash From Continuing Investing Activities		 -10 -119 -44 -4.97 -14 151
Purchase of Property, Plant & Equipment		 -10 -15 -21 -17 -27 -33
Purchase of Investments		 - 0.00 -40 -40 -30 -120
Divestitures		 - - - - 0.00 239
Sale and/or Maturity of Investments		 - 0.00 17 53 42 66
Net Cash From Financing Activities		 17 271 26 24 19 -75
Net Cash From Continuing Financing Activities		 17 18 26 24 19 -75
Repayment of Debt		 -15 -34 -76 -4.58 -20 -115
Issuance of Common Equity		 - 0.00 0.62 8.59 0.90 0.81
Other Financing Activities, net		 0.08 1.29 0.81 0.00 38 39
Effect of Exchange Rate Changes		 - 0.59 1.20 -0.57 3.74 -11
Cash Interest Paid		 1.50 3.13 9.44 16 14 6.92
Cash Income Taxes Paid		 - 0.17 0.21 0.05 0.21 1.00

Quarterly Cash Flow Statements for Spire Global

This table details how cash moves in and out of Spire Global's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -13 -0.72 23 -28 5.55 -12 21 8.82 -24 4.50 -10
Net Cash From Operating Activities		 -17 3.13 -8.85 -4.39 14 -19 -8.43 -35 -12 -4.28 -26
Net Cash From Continuing Operating Activities		 -17 3.13 -8.85 -4.39 14 -19 -8.43 -35 -12 -4.28 -26
Net Income / (Loss) Continuing Operations		 -26 -17 -26 -17 -12 -48 -24 117 -20 -25 -26
Consolidated Net Income / (Loss)		 -26 -17 -26 -17 -12 -48 -24 117 -20 -25 -26
Depreciation Expense		 3.76 6.59 6.84 5.65 3.86 5.38 4.41 2.52 2.56 2.91 3.02
Amortization Expense		 1.57 1.49 1.71 0.09 2.31 2.34 0.75 -0.08 0.79 0.78 0.80
Non-Cash Adjustments To Reconcile Net Income		 4.71 5.24 10 7.01 5.26 20 3.66 -153 1.25 9.30 2.87
Changes in Operating Assets and Liabilities, net		 -0.45 7.01 -2.14 -0.58 15 0.96 6.27 -1.17 3.03 7.83 -7.06
Net Cash From Investing Activities		 1.88 3.28 -7.18 -16 5.99 2.51 -8.90 154 -2.40 8.27 16
Net Cash From Continuing Investing Activities		 1.88 3.28 -7.18 -16 5.99 2.51 -8.90 154 -2.40 8.27 16
Purchase of Property, Plant & Equipment		 0.68 -5.36 -7.06 -5.53 -8.91 -5.09 -8.90 -3.61 -8.39 -12 -7.97
Sale and/or Maturity of Investments		 13 11 11 9.20 15 7.60 0.00 - 23 43 24
Net Cash From Financing Activities		 - -4.27 38 -9.74 -10 0.59 38 -114 0.95 0.37 0.02
Net Cash From Continuing Financing Activities		 - -4.27 38 -9.74 -10 0.59 38 -114 0.95 0.37 0.02
Issuance of Common Equity		 - 0.31 - - - 0.53 37 - - -37 0.00
Other Financing Activities, net		 - 0.00 38 -38 - 0.07 0.64 -37 0.95 37 0.02
Cash Interest Paid		 4.14 4.09 3.98 3.66 3.32 3.19 3.86 3.06 - - 0.00
Cash Income Taxes Paid		 - -0.54 0.02 0.03 0.00 0.16 0.00 - - 1.00 1.22

Annual Balance Sheets for Spire Global

This table presents Spire Global's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 44 290 256 239 194 211
Total Current Assets		 22 132 94 72 92 94
Cash & Equivalents		 16 109 47 29 19 25
Short-Term Investments		 - 0.00 23 12 0.00 57
Accounts Receivable		 3.74 10 14 9.91 12 4.18
Other Current Assets		 0.85 12 10 22 61 7.81
Plant, Property, & Equipment, net		 20 49 56 60 63 81
Total Noncurrent Assets		 1.69 110 106 106 38 36
Goodwill		 0.00 54 50 51 15 15
Intangible Assets		 0.75 44 35 32 10 9.08
Other Noncurrent Operating Assets		 - 0.00 12 15 11 12
Total Liabilities & Shareholders' Equity		 44 290 256 239 194 211
Total Liabilities		 93 100 165 201 205 98
Total Current Liabilities		 13 25 38 49 152 72
Short-Term Debt		 - - - 0.00 94 0.00
Accounts Payable		 1.78 5.82 4.80 8.01 12 15
Accrued Expenses		 2.61 4.82 8.47 8.33 16 22
Other Current Liabilities		 8.11 8.63 21 31 22 35
Total Noncurrent Liabilities		 80 75 127 152 54 26
Noncurrent Deferred Revenue		 - - - - - 14
Other Noncurrent Operating Liabilities		 4.26 23 27 37 54 12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -49 190 91 38 -12 113
Total Preferred & Common Equity		 -49 190 91 38 -12 113
Total Common Equity		 -202 190 91 38 -12 113
Common Stock		 10 439 456 478 537 606
Retained Earnings		 -211 -249 -358 -435 -539 -487
Accumulated Other Comprehensive Income / (Loss)		 -0.98 0.73 -6.91 -4.56 -9.77 -5.44

Quarterly Balance Sheets for Spire Global

This table presents Spire Global's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 268 256 252 231 224 209 240 224 183
Total Current Assets		 98 82 90 71 58 108 132 113 64
Cash & Equivalents		 43 30 52 24 29 36 36 20 16
Short-Term Investments		 21 20 12 22 7.57 - 82 76 33
Accounts Receivable		 20 19 12 12 9.16 10 7.48 5.81 7.04
Other Current Assets		 13 13 14 13 12 62 7.22 10 7.93
Plant, Property, & Equipment, net		 63 70 60 60 68 63 69 75 84
Total Noncurrent Assets		 108 105 103 99 98 37 38 36 34
Goodwill		 51 50 50 50 50 15 15 15 15
Intangible Assets		 34 32 30 29 29 9.80 9.88 9.33 8.55
Other Noncurrent Operating Assets		 14 14 14 13 12 13 13 11 11
Total Liabilities & Shareholders' Equity		 268 256 252 231 224 209 240 224 183
Total Liabilities		 175 179 200 190 193 203 90 91 92
Total Current Liabilities		 40 43 41 140 144 162 54 59 69
Short-Term Debt		 - - - 101 92 100 0.00 0.00 0.00
Accounts Payable		 4.29 4.62 5.87 7.53 11 7.29 8.89 11 16
Accrued Expenses		 9.32 9.65 11 8.53 11 22 21 20 17
Other Current Liabilities		 22 23 22 21 27 26 25 - 36
Total Noncurrent Liabilities		 134 136 159 51 50 42 36 32 23
Noncurrent Deferred Revenue		 - - 19 21 23 22 25 22 12
Other Noncurrent Operating Liabilities		 14 17 23 24 21 19 11 10 11
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 94 77 52 40 31 5.56 149 133 91
Total Preferred & Common Equity		 94 77 52 40 31 5.56 149 133 91
Total Common Equity		 94 77 52 40 31 5.56 149 133 91
Common Stock		 470 474 519 525 530 577 597 602 610
Retained Earnings		 -373 -390 -461 -477 -490 -559 -443 -462 -513
Accumulated Other Comprehensive Income / (Loss)		 -4.21 -5.99 -6.12 -6.85 -8.83 -12 -5.00 -6.22 -5.30

Annual Metrics And Ratios for Spire Global

This table displays calculated financial ratios and metrics derived from Spire Global's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 28,750,000.00 327,978,454.00 170,170,307.00 22,359,952.00 - 34,607,585.00
DEI Adjusted Shares Outstanding		 3,593,750.00 40,997,307.00 21,271,288.00 22,359,952.00 - 34,607,585.00
DEI Earnings Per Adjusted Shares Outstanding		 -9.04 -0.93 -4.65 -3.47 - 1.48
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Net Operating Profit after Tax (NOPAT)		 -18 -47 -55 -41 -48 -90
Return On Investment Capital (ROIC_SIMPLE)		 - - -29.12% -27.09% -55.39% -79.40%
Earnings before Interest and Taxes (EBIT)		 -25 -23 -63 -61 -84 72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -20 -11 -39 -38 -53 87
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -160 -45 -34 -19 -51
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Invested Capital		 7.12 120 110 103 73 30
Increase / (Decrease) in Invested Capital		 0.00 113 -10 -7.11 -29 -39
Book Value per Share		 ($7.03) $1.16 $0.54 $1.69 ($0.45) $3.26
Tangible Book Value per Share		 ($7.05) $0.56 $0.04 ($2.03) ($1.42) $2.55
Total Capital		 27 241 190 152 87 113
Total Debt		 75 51 98 114 99 0.00
Total Long-Term Debt		 75 51 98 114 4.62 0.00
Net Debt		 57 -70 19 65 77 -83
Capital Expenditures (CapEx)		 10 15 21 17 27 33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.70 -2.60 -14 -18 15 -60
Debt-free Net Working Capital (DFNWC)		 8.99 107 56 23 35 21
Net Working Capital (NWC)		 8.99 107 56 23 -59 21
Net Nonoperating Expense (NNE)		 14 -9.39 44 36 55 -141
Net Nonoperating Obligations (NNO)		 56 -70 19 65 85 -83
Total Depreciation and Amortization (D&A)		 5.88 12 24 23 31 15
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($5.12) $0.00 ($4.26) $1.66
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 17.48M 0.00 24.16M 30.91M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($5.12) $0.00 ($4.26) $1.49
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 17.48M 0.00 24.16M 31.95M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 19.50M 0.00 32.47M 35.01M
Normalized Net Operating Profit after Tax (NOPAT)		 -18 -47 -55 -41 -48 -90
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Spire Global

This table displays calculated financial ratios and metrics derived from Spire Global's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 177,515,699.00 22,359,952.00 23,638,770.00 25,824,885.00 25,824,885.00 - 32,474,439.00 32,583,984.00 32,583,984.00 34,607,585.00 35,011,385.00
DEI Adjusted Shares Outstanding		 22,189,462.00 22,359,952.00 23,638,770.00 25,824,885.00 25,824,885.00 - 32,474,439.00 32,583,984.00 32,583,984.00 34,607,585.00 35,011,385.00
DEI Earnings Per Adjusted Shares Outstanding		 -1.05 -0.77 -1.08 -0.64 -0.48 - -0.64 3.67 -0.60 -0.81 -0.74
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.37% 87.86% 50.00% -9.50% 29.12% -10.51% -31.44% -24.48% -55.65% - -33.68%
EBITDA Growth		 -11.47% 70.73% -25.02% 22.79% 86.69% -561.73% 27.93% 2,190.17% -842.72% - -77.40%
EBIT Growth		 -5.24% 43.29% -43.33% 11.49% 58.18% -219.26% 28.64% 1,193.89% -158.38% - -47.45%
NOPAT Growth		 -2.82% 49.92% 25.74% 3.15% 18.42% -134.77% -112.13% -168.06% -53.44% - 13.13%
Net Income Growth		 -7.00% 36.66% -36.93% 9.87% 46.55% -180.57% 19.13% 822.21% -57.75% - -9.90%
EPS Growth		 10.40% 43.23% -13.59% 31.31% 55.36% -127.27% 34.19% 647.06% -22.00% - 11.36%
Operating Cash Flow Growth		 -64.90% 203.10% 30.46% 74.67% 183.05% -714.07% 4.76% -699.16% -186.13% - -210.96%
Free Cash Flow Firm Growth		 91.77% 74.82% 370.33% 474.16% 303.18% 490.90% -93.71% 0.68% -20.10% - 5,524.37%
Invested Capital Growth		 7.05% -6.48% -26.74% -33.43% -37.91% -28.67% -20.28% -66.08% -57.11% - -45.47%
Revenue Q/Q Growth		 -16.48% 9.39% 43.88% -27.07% 12.48% -24.18% 10.24% -19.66% -33.95% - 0.06%
EBITDA Q/Q Growth		 -110.20% 61.87% -135.40% 47.22% 71.90% -335.56% 74.36% 1,630.64% -112.67% - 3.26%
EBIT Q/Q Growth		 -59.85% 30.33% -57.05% 41.35% 34.84% -431.92% 64.90% 999.08% -115.39% - 2.33%
NOPAT Q/Q Growth		 -52.99% 22.30% 8.25% -3.04% -11.07% -123.60% 17.10% -30.21% 36.42% - 5.38%
Net Income Q/Q Growth		 -43.47% 26.32% -48.56% 35.17% 24.68% -286.77% 57.18% 678.93% -116.45% - 7.55%
EPS Q/Q Growth		 -918.18% 21.43% -32.95% 41.88% 26.47% -300.00% 61.50% 583.12% -116.40% - 8.24%
Operating Cash Flow Q/Q Growth		 -49.04% 118.57% -383.02% 50.41% 418.71% 0.00% 56.10% -316.12% 65.65% - -512.84%
Free Cash Flow Firm Q/Q Growth		 -131.67% 90.19% 1,408.53% 43.13% 10.59% -81.13% -78.95% 2,192.13% -12.24% - -8.65%
Invested Capital Q/Q Growth		 -2.42% -24.87% -6.45% -2.94% -8.99% -13.69% 4.56% -58.70% 15.06% - 34.04%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 42.87% 26.58% 26.50% 42.96% 44.54% 32.44% 36.79% 48.88% 36.65% - 39.82%
EBITDA Margin		 -62.48% -21.78% -35.63% -25.78% -6.44% -161.04% -37.46% 713.61% -136.91% - -141.75%
Operating Margin		 -76.01% -53.98% -34.42% -48.63% -48.02% -141.63% -106.51% -122.65% -166.15% - -155.20%
EBIT Margin		 -86.55% -55.12% -60.17% -48.39% -28.03% -196.67% -62.63% 700.86% -163.31% - -165.86%
Profit (Net Income) Margin		 -105.47% -71.04% -73.35% -65.20% -43.66% -222.73% -86.52% 623.45% -155.30% - -163.21%
Tax Burden Percent		 100.00% 96.75% 99.96% 100.41% 100.35% 100.12% 99.97% 98.52% 99.99% - 100.21%
Interest Burden Percent		 121.87% 133.20% 121.95% 134.19% 155.21% 113.12% 138.19% 90.29% 95.10% - 98.20%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.48% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 -38.32% -34.73% -23.18% -31.11% -34.30% -124.52% -85.96% -180.60% -148.51% - -116.64%
ROIC Less NNEP Spread (ROIC-NNEP)		 -74.22% -54.00% -65.62% -47.03% -39.38% -160.27% -90.95% -621.65% -125.40% - -196.85%
Return on Net Nonoperating Assets (RNNOA)		 -23.93% -34.98% -36.25% -34.91% -41.13% -919.81% -179.65% 212.30% 32.70% - -43.83%
Return on Equity (ROE)		 -62.25% -69.71% -59.43% -66.01% -75.43% -1,044.33% -265.61% 31.70% -115.81% - -160.48%
Cash Return on Invested Capital (CROIC)		 -37.85% -32.05% -2.81% 7.59% 14.46% -21.24% -44.09% -43.81% -76.84% - -86.25%
Operating Return on Assets (OROA)		 -31.52% -21.73% -25.48% -20.66% -13.19% -100.37% -27.02% 278.00% -56.36% - -53.78%
Return on Assets (ROA)		 -38.41% -28.00% -31.06% -27.83% -20.55% -113.67% -37.33% 247.29% -53.60% - -52.93%
Return on Common Equity (ROCE)		 -62.25% -69.71% -59.43% -66.01% -75.43% -1,044.33% -265.61% 31.70% -115.81% - -160.48%
Return on Equity Simple (ROE_SIMPLE)		 -96.56% 0.00% -160.99% 0.00% 0.00% 0.00% -1,762.93% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 -9.15 -8.39 -8.65 -9.60 -21 -18 -23 -15 -18 -17
NOPAT Margin		 -53.20% -37.79% -24.10% -34.04% -33.62% -99.14% -74.56% -120.83% -116.30% - -108.64%
Net Nonoperating Expense Percent (NNEP)		 35.90% 19.28% 42.44% 15.93% 5.07% 35.75% 4.98% 441.05% -23.11% - 80.20%
Return On Investment Capital (ROIC_SIMPLE)		 -6.03% -6.02% -5.01% -5.91% -7.50% -24.72% -16.85% -15.53% -11.07% -16.10% -18.86%
Cost of Revenue to Revenue		 57.13% 78.45% 73.61% 57.20% 64.59% 74.10% 63.21% 51.12% 63.35% - 60.18%
SG&A Expenses to Revenue		 50.72% 34.02% 28.27% 39.41% 43.07% 81.20% 66.22% 89.59% 108.62% - 114.48%
R&D to Revenue		 35.84% 19.61% 17.34% 29.60% 19.71% 46.18% 35.64% 53.15% 71.95% - 54.94%
Operating Expenses to Revenue		 118.88% 75.53% 60.81% 91.43% 83.43% 167.52% 143.30% 171.53% 202.79% - 195.02%
Earnings before Interest and Taxes (EBIT)		 -19 -13 -21 -12 -8.01 -43 -15 134 -21 -27 -26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -14 -5.27 -12 -6.55 -1.84 -35 -8.94 137 -17 -23 -22
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.40 4.63 5.41 6.94 8.37 0.00 47.29 2.60 2.69 - 4.83
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.13 3.30 - 6.53
Price to Revenue (P/Rev)		 1.14 1.79 2.60 2.63 2.28 3.29 2.64 4.16 4.63 - 6.93
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.15 11.55 - 8.99
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.86% 8.66% - 11.12%
Enterprise Value to Invested Capital (EV/IC)		 1.23 2.34 3.41 3.57 3.68 6.02 4.27 8.54 7.18 - 9.37
Enterprise Value to Revenue (EV/Rev)		 1.76 2.46 3.00 3.12 2.76 3.99 3.29 2.90 3.38 - 6.16
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.87 3.32 - 5.04
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.92 4.65 - 6.16
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 80.49 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 37.62 19.48 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.52 3.02 2.19 2.62 3.15 -8.43 18.02 0.00 0.00 - 0.00
Long-Term Debt to Equity		 1.52 3.02 2.19 0.12 0.16 -0.40 0.00 0.00 0.00 - 0.00
Financial Leverage		 0.32 0.65 0.55 0.74 1.04 5.74 1.98 -0.34 -0.26 - 0.22
Leverage Ratio		 2.62 3.84 3.53 3.73 4.43 16.59 7.95 2.48 2.74 - 4.05
Compound Leverage Factor		 3.19 5.12 4.30 5.00 6.88 18.76 10.99 2.24 2.60 - 3.98
Debt to Total Capital		 60.29% 75.13% 68.68% 72.41% 75.90% 113.45% 94.74% 0.00% 0.00% - 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 69.09% 72.07% 108.14% 94.74% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 60.29% 75.13% 68.68% 3.32% 3.84% 5.32% 0.00% 0.00% 0.00% - 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 39.71% 24.87% 31.32% 27.59% 24.10% -13.45% 5.26% 100.00% 100.00% - 100.00%
Debt to EBITDA		 -3.14 -3.04 -2.88 -2.78 -3.73 -1.87 -2.03 0.00 0.00 - 0.00
Net Debt to EBITDA		 -1.58 -1.73 -1.09 -1.39 -2.07 -1.46 -1.30 0.00 0.00 - 0.00
Long-Term Debt to EBITDA		 -3.14 -3.04 -2.88 -0.13 -0.19 -0.09 0.00 0.00 0.00 - 0.00
Debt to NOPAT		 -2.87 -2.77 -3.01 -2.79 -2.71 -2.05 -1.74 0.00 0.00 - 0.00
Net Debt to NOPAT		 -1.44 -1.58 -1.14 -1.39 -1.51 -1.61 -1.12 0.00 0.00 - 0.00
Long-Term Debt to NOPAT		 -2.87 -2.77 -3.01 -0.13 -0.14 -0.10 0.00 0.00 0.00 - 0.00
Altman Z-Score		 -1.46 -1.69 -1.31 -2.08 -2.33 -3.35 -3.04 2.62 -0.20 - -1.20
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.91 1.47 2.18 0.51 0.40 0.61 0.67 2.43 1.90 - 0.94
Quick Ratio		 1.61 1.03 1.84 0.42 0.32 0.21 0.29 2.30 1.73 - 0.82
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -21 -2.04 27 38 42 7.96 1.68 38 34 20 18
Operating Cash Flow to CapEx		 0.00% 58.35% -125.37% -79.42% 157.06% -377.25% -94.70% -972.68% -143.63% - -328.79%
Free Cash Flow to Firm to Interest Expense		 -4.39 -0.41 5.28 7.99 8.74 1.40 0.29 2.81 16,857.15 - 0.00
Operating Cash Flow to Interest Expense		 -3.56 0.62 -1.75 -0.92 2.90 -3.37 -1.47 -2.56 -6,024.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -3.42 -0.44 -3.15 -2.08 1.05 -4.26 -3.02 -2.82 -10,218.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.36 0.39 0.42 0.43 0.47 0.51 0.43 0.40 0.35 - 0.32
Accounts Receivable Turnover		 5.48 8.21 8.34 6.48 8.12 10.12 8.84 9.37 10.34 - 7.38
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 1.56 1.68 1.86 1.73 1.64 1.78 1.62 1.45 1.08 - 0.86
Accounts Payable Turnover		 8.42 9.40 11.71 12.14 10.07 7.61 9.74 7.22 4.41 - 3.16
Days Sales Outstanding (DSO)		 66.58 44.45 43.78 56.32 44.94 36.08 41.30 38.95 35.31 - 49.46
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)		 43.37 38.81 31.17 30.05 36.25 47.97 37.49 50.52 82.72 - 115.46
Cash Conversion Cycle (CCC)		 23.22 5.64 12.61 26.27 8.69 -11.89 3.81 -11.58 -47.41 - -66.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 137 103 96 93 85 73 77 32 36 30 42
Invested Capital Turnover		 0.72 0.92 0.96 0.91 1.02 1.26 1.15 1.49 1.28 - 1.07
Increase / (Decrease) in Invested Capital		 9.00 -7.11 -35 -47 -52 -29 -19 -62 -48 -39 -35
Enterprise Value (EV)		 168 240 327 333 312 441 327 270 261 - 391
Market Capitalization		 109 175 284 280 258 363 263 388 358 - 440
Book Value per Share		 $0.44 $1.69 $2.22 $1.56 $1.19 ($0.45) $0.20 $4.58 $4.09 $3.26 $2.61
Tangible Book Value per Share		 ($0.03) ($2.03) ($1.19) ($1.49) ($1.86) ($1.42) ($0.70) $3.80 $3.33 $2.55 $1.93
Total Capital		 195 152 167 146 128 87 106 149 133 113 91
Total Debt		 118 114 115 106 97 99 100 0.00 0.00 0.00 0.00
Total Long-Term Debt		 118 114 115 4.85 4.91 4.62 0.00 0.00 0.00 0.00 0.00
Net Debt		 59 65 44 53 54 77 64 -118 -97 -83 -49
Capital Expenditures (CapEx)		 -0.68 5.36 7.06 5.53 8.91 5.09 8.90 3.61 8.39 12 7.97
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -11 -18 -15 -13 -30 15 11 -40 -43 -60 -54
Debt-free Net Working Capital (DFNWC)		 39 23 49 32 6.63 35 47 78 54 21 -4.09
Net Working Capital (NWC)		 39 23 49 -69 -86 -59 -53 78 54 21 -4.09
Net Nonoperating Expense (NNE)		 12 8.05 17 7.91 2.87 27 2.86 -143 4.94 9.77 8.64
Net Nonoperating Obligations (NNO)		 59 65 44 53 54 85 71 -118 -97 -83 -49
Total Depreciation and Amortization (D&A)		 5.33 8.07 8.55 5.74 6.17 7.72 6.01 2.45 3.35 3.69 3.82
Debt-free, Cash-free Net Working Capital to Revenue		 -11.78% -18.31% -13.65% -12.61% -26.56% 13.85% 10.82% -42.55% -55.71% - -84.31%
Debt-free Net Working Capital to Revenue		 40.86% 23.56% 44.70% 30.38% 5.86% 31.24% 46.93% 83.53% 69.31% - -6.44%
Net Working Capital to Revenue		 40.86% 23.56% 44.70% -64.42% -75.75% -53.81% -53.65% 83.53% 69.31% - -6.44%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.86) ($0.88) $0.00 ($0.68) ($0.50) ($2.00) ($0.77) $3.80 ($0.61) ($0.76) ($0.78)
Adjusted Weighted Average Basic Shares Outstanding		 20.76M 19.58M 0.00 24.49M 24.92M 24.16M 26.79M 31.40M 32.50M 30.91M 33.27M
Adjusted Diluted Earnings per Share		 ($0.86) ($0.88) $0.00 ($0.68) ($0.50) ($2.00) ($0.77) $3.72 ($0.61) ($0.85) ($0.78)
Adjusted Weighted Average Diluted Shares Outstanding		 20.76M 19.58M 0.00 24.49M 24.92M 24.16M 26.79M 32.09M 32.50M 31.95M 33.27M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.88) $0.00 $0.00 $0.00 ($2.00) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 22.36M 23.64M 0.00 0.00 0.00 32.47M 32.58M 0.00 34.61M 35.01M 40.22M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -9.15 -8.39 -8.65 -9.60 -21 -18 -23 -15 -18 -17
Normalized NOPAT Margin		 -53.20% -37.79% -24.10% -34.04% -33.62% -99.14% -74.56% -120.83% -116.30% - -108.64%
Pre Tax Income Margin		 -105.48% -73.43% -73.38% -64.93% -43.51% -222.47% -86.54% 632.84% -155.31% - -162.86%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -4.05 -2.66 -4.15 -2.57 -1.66 -7.47 -2.61 9.82 -10,345.50 - 0.00
NOPAT to Interest Expense		 -2.49 -1.82 -1.66 -1.81 -1.99 -3.76 -3.11 -1.69 -7,367.85 - 0.00
EBIT Less CapEx to Interest Expense		 -3.91 -3.72 -5.54 -3.73 -3.50 -8.36 -4.16 9.55 -14,539.50 - 0.00
NOPAT Less CapEx to Interest Expense		 -2.35 -2.89 -3.06 -2.97 -3.83 -4.66 -4.66 -1.96 -11,561.85 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Spire Global’s latest quarter shows a business that is still growing revenue, but profitability and cash generation remain under pressure. In Q1 2026, revenue rose slightly year over year to $15.8 million from $15.8 million in Q4 2025 and $12.7 million in Q3 2025, but the company still posted a net loss of $25.8 million and negative operating cash flow of $26.2 million. Over the last several years, Spire has improved from much larger losses at times, but the path to consistent profitability is still not clear.

Revenue trend: The company’s quarterly revenue has generally been in the low- to mid-$10 million to mid-$20 million range, with periods of volatility. Q1 2026 revenue was up from Q1 2025’s $23.9 million? No — comparing the reported figures provided, Q1 2026 revenue was $15.8 million versus $23.9 million in Q1 2025, indicating a sharp year-over-year decline in the quarter. That said, revenue has shown the ability to bounce around materially quarter to quarter, so investors may want to focus on the longer-term contract and backlog trend rather than one quarter alone.

Margins remain challenged: In Q1 2026, gross profit was $6.3 million on revenue of $15.8 million, implying a gross margin of about 40%. That is decent for a satellite/data business, but operating expenses were much higher at $30.9 million, leading to an operating loss of $24.6 million. The company is still spending heavily on SG&A, R&D, and marketing, which continues to outweigh gross profit.

Cash flow is not yet self-sustaining: Q1 2026 operating cash flow was negative $26.2 million. Even though the company had $16.0 million of investing cash inflow, that came largely from selling investments rather than core operations. The business is still reliant on its balance sheet and non-operating sources to support liquidity.

Balance sheet liquidity improved in the latest quarter: Spire ended Q1 2026 with $16.0 million in cash and equivalents and $33.4 million in short-term investments, for total readily available liquidity of about $49.5 million. That is better than cash alone, but the company also has $91.7 million in total liabilities, so investors should keep an eye on runway and burn rate.

Share count has increased over time: Diluted shares outstanding were 33.3 million in Q1 2026 versus 26.8 million in Q1 2025 and 21.9 million in Q1 2024. That means losses are being spread over a larger share base, which can dilute future upside for shareholders.

  • Revenue in Q1 2026 remained at a meaningful operating level for the business, showing the company is still generating customer demand.
  • Gross profit was positive at $6.3 million, indicating the core service model can produce margins above direct costs.
  • The company still held $33.4 million in short-term investments at quarter-end, supporting near-term liquidity.
  • Spire has no short-term debt on the Q1 2026 balance sheet, which reduces immediate refinancing pressure.
  • Revenue has been volatile across the last several quarters, so one quarter does not define the long-term trend.
  • Operating cash flow can swing significantly depending on working capital and investment activity.
  • Recent quarters included meaningful other income and investment-related items, which can distort the underlying operating picture.
  • Q1 2026 operating loss of $24.6 million shows expenses remain far above gross profit.
  • Q1 2026 net loss of $25.8 million indicates the company is still well below break-even.
  • The share count has risen meaningfully over the last year, increasing dilution risk for existing holders.

Bottom line: Spire Global still looks like a turnaround story rather than a consistently profitable company. The business has real revenue and some gross margin strength, but the latest quarter shows ongoing losses, negative operating cash flow, and dilution. For retail investors, the key questions are whether revenue can reaccelerate and whether management can meaningfully narrow operating expenses without stalling growth.

07/21/26 07:05 AM ETAI Generated. May Contain Errors.

Spire Global Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Spire Global's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Spire Global's net income appears to be on a downward trend, with a most recent value of $51.31 million in 2025, falling from -$32.50 million in 2020. The previous period was -$103.36 million in 2024. View Spire Global's forecast to see where analysts expect Spire Global to go next.

Spire Global's total operating income in 2025 was -$95.98 million, based on the following breakdown:
  • Total Gross Profit: $29.16 million
  • Total Operating Expenses: $125.14 million

Over the last 5 years, Spire Global's total revenue changed from $28.49 million in 2020 to $71.55 million in 2025, a change of 151.2%.

Spire Global's total liabilities were at $98.06 million at the end of 2025, a 52.2% decrease from 2024, and a 5.3% increase since 2020.

In the past 5 years, Spire Global's cash and equivalents has ranged from $15.57 million in 2020 to $109.26 million in 2021, and is currently $24.81 million as of their latest financial filing in 2025.

Over the last 5 years, Spire Global's book value per share changed from -7.03 in 2020 to 3.26 in 2025, a change of -146.4%.


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Financial statements for NYSE:SPIR last updated on 5/17/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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