Spire Global Q1 2024 Investor Update May 15, 2024 DISCLAIMER AND FORWARD–LOOKING STATEMENTS This presentation contains forward-looking statements, including information about management's view of Spire's future expectations, plans and prospects, including our views regarding future execution within our business, and the opportunity we see in our industry, within the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertaint ...

Spire Global (SPIR) Q1 2025 Earnings Call May 14, 2025 05:00 PM ET Speaker0 Please note this conference is being recorded. I will now turn the conference over to your host, Ben Hackman, Head of Investor Relations. Thank you. You may begin. Speaker1 Thank you. Hello, everyone, and thank you for joining Spire's first quarter twenty twenty five 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 availabl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______ to______ Commission File Number: 001-39493 SPIRE GLOBAL, INC. (Exact Name of Registrant as Specified in its Charter) WASHINGTON, DC 20549 FORM 10-Q (Registrant's telephone number, inclu ...

Exhibit 99.1 Spire Global Announces First Quarter 2025 Results VIENNA, VA, May 14, 2025 – Spire Global, Inc. (NYSE: SPIR) ("Spire" or "the Company"), a global provider of space-based data, analytics and space services, announced results for its quarter ended March 31, 2025. The Company will hold a webcast at 5:00 p.m. ET today to discuss the results. "Backed by a strong space heritage and renewed focus on execution, we are poised to seize opportunities driven by rising defense budgets and the growing demand ...

Spire Global, Inc. (NYSE:SPIR) Q4 2024 Earnings Conference Call March 31, 2025 5:00 PM ET Company Participants Ben Hackman - Head of Invest Relations Theresa Condor - CEO Thomas Krywe - Interim CFO Conference Call Participants Austin Moeller - Canaccord Genuity Brent Penter - Raymond James Jeff Meuler - Baird Erik Rasmussen - Stifel Jeff Van Rhee - Craig-Hallum Capital Group Brian Kinstlinger - Alliance Global Partners Operator Greetings, and welcome to the Spire Global Fourth Quarter and Full Year 2024 Cal ...

Financial Performance - Third quarter 2024 revenue reached $28.6 million, reflecting 29% year-over-year growth[5] - For the nine months ended September 30, 2024, revenue was $88.8 million, reflecting 21% year-over-year growth[6] - Preliminary full year 2024 revenue is expected to be between $108.0 million and $110.0 million, with year-over-year growth of 11% to 13%[10] - Revenue for Q3 2024 was $28.568 million, representing an increase of 29.5% compared to $22.126 million in Q3 2023[31] - Gross profit for Q3 2024 was $12.725 million, up from $9.486 million in Q3 2023, indicating a gross margin improvement[31] - Gross profit (Non-GAAP) for Q3 2024 was $13,814, a 30% increase from $10,579 in Q3 2023[35] - Gross margin (Non-GAAP) remained stable at 48% for both Q3 2024 and Q3 2023[36] Cash Flow and Expenses - Achieved positive cash flow from operations of $14.0 million and positive free cash flow of $5.1 million in the third quarter 2024[5] - The company reported a net cash provided by operating activities of $0.749 million for the nine months ended September 30, 2024, compared to a net cash used of $39.486 million in the same period of 2023[34] - Free cash flow for the nine months ended September 30, 2024, was $5,082, compared to -$16,152 in the same period of 2023[37] - Operating expenses totaled $26.444 million in Q3 2024, slightly higher than $26.303 million in Q3 2023[31] - Research and development expenses decreased to $5.631 million in Q3 2024 from $7.931 million in Q3 2023, reflecting a focus on cost management[31] - Research and development expenses (Non-GAAP) decreased to $4,441 in Q3 2024 from $6,974 in Q3 2023, representing a 36% reduction[35] - Sales and marketing expenses (Non-GAAP) were $4,571 in Q3 2024, down 27% from $6,320 in Q3 2023[35] Losses and Improvements - Third quarter 2024 GAAP operating loss was $13.7 million, an 18% year-over-year improvement[6] - Third quarter 2024 net loss was $12.5 million, reflecting a 47% year-over-year improvement[9] - Adjusted EBITDA for the third quarter 2024 was negative $3.1 million, showing a 66% year-over-year improvement[9] - Net loss for Q3 2024 was $12.473 million, compared to a net loss of $23.337 million in Q3 2023, showing a significant reduction in losses[31] - Basic and diluted net loss per share improved to $0.50 in Q3 2024 from $1.12 in Q3 2023[31] - Net loss (GAAP) narrowed to $12,473 in Q3 2024 compared to $23,337 in Q3 2023, a 47% improvement[36] - Adjusted EBITDA for Q3 2024 was -$3,120, an improvement from -$9,200 in Q3 2023[37] Future Projections - GAAP loss from operations is expected to range from $(73.4) million to $(71.4) million[38] - Non-GAAP loss from operations is projected to be between $(38.2) million and $(36.2) million[38] - GAAP net loss per share is estimated to be between $(4.47) and $(4.38)[38] - Non-GAAP net loss per share is expected to range from $(2.39) to $(2.31)[38] - Total net loss (GAAP) is projected to be between $(107.2) million and $(105.2) million[38] - Adjusted EBITDA is expected to range from $(20.9) million to $(18.9) million[38] - Stock-based compensation is anticipated to be $20.2 million[38] - The company will exclude $7.4 million in other unusual and infrequent costs from its financials[38] Operational Highlights - Awarded $40.0 million of annual contract value in the third quarter 2024, marking the largest value of bookings received in a quarter[5] - Spire was awarded $6.7 million by NASA to deliver Earth observation data for enhancing global weather forecasting[9] - Successfully launched seven satellites on the SpaceX Transporter-11 mission, bringing the total number of Spire satellites launched to 186[9] - The company has nine offices globally, indicating a strong market presence and potential for expansion[30] Assets and Cash Position - Total assets decreased to $224.191 million as of September 30, 2024, down from $239.264 million at the end of 2023[33] - Cash and cash equivalents were $29.061 million as of September 30, 2024, compared to $29.136 million at the end of 2023[33]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39493 SPIRE GLOBAL, INC. (Exact name of Registrant as specified in its Charter) Delaware 85-1276957 (State or other jurisdiction of i ...

Spire Global, Inc. (NYSE:SPIR) Q3 2024 - Earnings Conference Call March 4, 2025 8:30 AM ET Company Participants Ben Hackman - Head, IR Peter Platzer - Chairman Leo Basola - CFO Conference Call Participants Austin Moeller - Canaccord Jeff Meuler - Baird Erik Rasmussen - Stifel Brian Kinstlinger - Alliance Global Partners Jeff Van Rhee - Craig-Hallum Capital Group Chris Quilty - Quilty Analytics Operator Greetings. Welcome to Spire Global’s Third Quarter 2024 Conference Call. [Operator Instructions]. It is no ...

Financial Data and Key Metrics Changes - GAAP revenue for Q3 2024 was $28.6 million, reflecting a 29% year-over-year growth, attributed to increased annual recurring revenue and growth in space services and R&D service contracts [45][46] - Operating loss for Q3 was negative $6.1 million, showing a 49% improvement year-over-year, with an operating margin of negative 21%, a 34-point improvement [47] - Adjusted EBITDA for Q3 was negative $3.1 million, reflecting a 66% year-over-year improvement [48] - Free cash flow was positive at $5.1 million for Q3, including $14 million of positive operating cash netted by approximately $8.9 million of CapEx [49] Business Line Data and Key Metrics Changes - The maritime business was sold for $241 million, valued at nearly six times its trailing twelve-month revenue, enhancing shareholder value and eliminating debt [11][12] - The company set a record for annual contract value bookings in Q3, with notable contracts from NASA and NOAA [14] Market Data and Key Metrics Changes - Severe weather events in the U.S. continued to drive demand, with 27 events in 2024 causing losses exceeding $1 billion each [15] - The space economy is projected to reach nearly $2 trillion by the mid-2030s, indicating significant growth potential for space-based solutions [22] Company Strategy and Development Direction - The company aims to tackle global security challenges and climate change with data and analytics from space, focusing on solutions that address these issues [9][12] - The transition to a new CEO, Theresa Condor, is expected to streamline operations and enhance financial responsibility [35][36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the complexities of the restatement process but expressed confidence in future growth opportunities, particularly post-transaction [28][34] - The outlook for 2025 is promising, with plans to provide financial guidance alongside Q4 results [28] Other Important Information - The restatement process incurred costs between $10 million and $15 million, with most costs expected to be recorded in Q4 2024 and Q1 2025 [8] - The company achieved positive free cash flow for the first time, a significant milestone [33] Q&A Session Summary Question: CapEx spend for 2025 - Expected CapEx for replacement satellites is projected to be $5 million to $7 million, similar to past years [56][58] Question: Q4 performance and bookings - Q4 is expected to be weaker due to delays from the restatement and transaction processes, but bookings remain strong [62][66] Question: Impact of the new presidential administration - The administration's support for privatization of space solutions is expected to positively impact the commercial space industry [75][79] Question: Confidence in closing the maritime transaction - Confidence stems from a strong contract and experienced partners, with expectations to close the transaction in six to eight weeks [92][95] Question: Canadian wildfire contract details - The contract involves a two-phase program with Aurora Tech as a subcontractor, and cash flow remains neutral during the build phase [116][120]

Revenue and Financial Performance - Revenue for the three months ended September 30, 2024, was $28.6 million, representing a 29% increase from the same period in 2023[161]. - Revenue for the three months ended September 30, 2024, was $28.568 million, up from $22.126 million in 2023, representing a growth of 29%[195]. - Total revenue for the three months ended September 30, 2024, increased by $6.4 million, or 29%, compared to the same period in 2023, driven by increased ARR from existing customers and growth in revenue from Space Services Contracts and R&D Services Contracts[197]. - Revenue from subscription-based contracts was $20.2 million, or 71% of total revenue, for the three months ended September 30, 2024, down from $16.6 million, or 75%, for the same period in 2023[199]. Annual Recurring Revenue (ARR) and Customer Metrics - ARR increased to $103.9 million as of September 30, 2024, a 1% increase from $103.1 million as of September 30, 2023[172]. - The number of Annual Recurring Revenue (ARR) Solution Customers decreased to 606 as of September 30, 2024, down from 827 as of September 30, 2023[163]. - The company’s ARR Net Retention Rate was 90% for the three months ended September 30, 2024, compared to 86% for the same period in 2023[163]. - ARR Customers decreased by 29% to 565 as of September 30, 2024, from 794 as of September 30, 2023, aligning with the company's strategy to focus on high ARR customers[198]. - The ARR Net Retention Rate improved to 90% for the three months ended September 30, 2024, compared to 86% for the same period in 2023, due to the "land and expand" strategy[198]. Expenses and Cost Management - Cost of revenue for the three months ended September 30, 2024, was $15.843 million, compared to $12.640 million in 2023, an increase of 25%[195]. - Gross profit for the three months ended September 30, 2024, was $12.725 million, compared to $9.486 million in 2023, reflecting a growth of 34%[195]. - Research and development spending decreased by $2.3 million, or 29%, for the three months ended September 30, 2024, compared to the same period in 2023[166]. - Research and development expenses for the three months ended September 30, 2024, were $5.631 million, down from $7.931 million in 2023, a decrease of 29%[195]. - Sales and marketing expenses decreased by $1.3 million, or 19%, for the three months ended September 30, 2024, primarily due to lower bonus and commission expenses[214]. - General and administrative expenses increased by 10% to $12.3 million for the three months ended September 30, 2024, compared to $11.2 million for the same period in 2023[217]. - General and administrative expenses increased by $1.1 million, or 10%, for the three months ended September 30, 2024, primarily due to higher stock-based compensation expenses[218]. - For the nine months ended September 30, 2024, general and administrative expenses decreased by $1.6 million, or 5%, driven by lower bonus and insurance costs[220]. Net Loss and Financial Health - The net loss for the three months ended September 30, 2024, was $12.473 million, compared to a net loss of $23.337 million in 2023, indicating an improvement[195]. - For the nine months ended September 30, 2024, the net loss was $54.576 million compared to a net loss of $60.364 million for the same period in 2023, indicating an improvement of approximately 13%[248]. - Adjusted EBITDA for the three months ended September 30, 2024, was $(3.120) million, compared to $(9.200) million for the same period in 2023, reflecting a significant reduction in losses of approximately 66%[248]. - The company recognized a non-cash expense of $2.6 million for expected credit loss on notes receivable for the three months ended September 30, 2024, with no such reserve in the prior year[227]. Cash Flow and Financing Activities - Cash and cash equivalents totaled $29.1 million as of September 30, 2024, down from $40.9 million as of December 31, 2023, indicating a decrease of approximately 29%[253]. - The total cash and cash equivalents and marketable securities as of September 30, 2024, were $36.6 million, with $20.4 million held outside the United States[253]. - Net cash provided by operating activities was $0.7 million for the nine months ended September 30, 2024, compared to a net cash used of $39.5 million for the same period in 2023[283][284]. - Net cash used in investing activities was $16.7 million for the nine months ended September 30, 2024, driven by $30.2 million in short-term investments and $21.5 million in property and equipment purchases[286]. - Net cash provided by financing activities was $18.4 million for the nine months ended September 30, 2024, primarily from securities purchase agreements totaling $37.9 million[289]. Strategic Initiatives and Contracts - The company was awarded a one-year $3.8 million NOAA contract for satellite weather data in September 2024[161]. - The company launched seven LEMUR satellites on the SpaceX Transporter-11 mission[161]. - The company continues to focus on expanding into new industries and geographies, including energy, financial services, and Latin America[164]. - The company entered into a Share Purchase Agreement to sell its maritime business for an enterprise value of $233.5 million, subject to adjustments[152]. - The company entered into a Purchase Agreement with a Buyer for a maritime business sale at an enterprise value of $233.5 million, with a transition service agreement valued at $7.5 million[258]. - The Buyer has failed to consummate the closing despite all conditions being met, citing a review by the UK Competition and Markets Authority[259]. - The company filed a complaint seeking specific performance from the Buyer to fulfill its obligations under the Purchase Agreement[260]. Financial Covenants and Concerns - The company has failed to meet leverage ratio and minimum liquidity financial covenants under the Blue Torch Financing Agreement, raising concerns about its ability to continue as a going concern[257]. - The company intends to use proceeds from the Transactions to repay amounts owed under the Blue Torch Financing Agreement, but there is substantial doubt about its ability to continue as a going concern for at least 12 months[262]. - The Blue Torch Financing Agreement includes a term loan facility of up to $120.0 million, with a portion used to repay a previous $70.0 million credit facility[263]. - As of September 30, 2024, the company was in compliance with all financial covenants under the Blue Torch Financing Agreement[267]. - The company has entered into multiple amendments to the Blue Torch Financing Agreement, including waivers for events of default and adjustments to financial covenants[271][275]. Market and Economic Factors - Approximately 38% of revenues were generated in currencies other than the U.S. Dollar, which positively impacted revenue due to the U.S. Dollar's decrease in strength[169]. - The company reported a foreign exchange gain of $4.9 million for the three months ended September 30, 2024, compared to a loss of $1.8 million in the same period of 2023, a change of 366%[233]. - The company reported a foreign exchange loss of $4.872 million for the three months ended September 30, 2024, compared to a gain of $1.840 million for the same period in 2023[248]. - A hypothetical 100 basis points increase in the interest rate of the Blue Torch Credit Facility would impact annual results by approximately $1.1 million[300]. - The company is exposed to inflation risk, which could negatively impact operational and capital expenditures in the future[301].