Spire Global announces multi-million dollar contracts with USAF, UKSA, NASA

Spire Global announced new multi-million-dollar contracts, the receipt of an NYSE notice regarding its late Form 10-Q filing and the Company’s decision to restate certain historical financials following its review of the technical revenue recognition accounting for certain contracts. Underscoring Spire’s mission to improve life on Earth with data from space, the Company has been awarded new contracts focused on improving national security, weather forecasting and climate research: $14M Air Force contract: Spire has been awarded a $14 million contract by the Air Force Research Laboratory (AFRL) under the SBIR Phase II STRATFI program. Over the next 48 months, Spire agreed to develop and deploy a cluster of satellites designed to detect and track moving objects on Earth with the goal of enhancing situational awareness for U.S. defense operations. This project is expected to leverage advanced sensing technologies, including radio frequency, electro optical infrared, and multi-spectral imagery sensors, to deliver cutting-edge space-based Surveillance, Reconnaissance, and Tracking capabilities. GBP3.5M UK Space Agency grant: The Company has been awarded a GBP 3.5 million grant by the UK Space Agency (UKSA) to develop and demonstrate hyperspectral microwave sensing technology in orbit. Over the three-year project period, Spire expects to collaborate with the Met Office, STFC RAL Space, and STAR-Dundee to enhance global weather forecasting. This initiative will deploy a small satellite equipped with advanced microwave sounders, which is expected to offer high-quality vertical resolution and data accuracy, ultimately improving weather prediction and climate understanding. $6.7M NASA contract renewal: Spire has been awarded a $6.7 million, 12-month contract renewal from NASA under the Commercial Smallsat Data Acquisition (CSDA) Program. This marks the second consecutive year of increased contract value, allowing Spire to continue delivering its comprehensive Earth observation data, including GNSS radio occultation, GNSS Reflectometry, and space weather measurements. Spire’s data will support U.S. government-funded research with the objective of enhancing global weather forecasting, atmospheric profiling, and climate research.