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Spire Global
(NYSE:SPIR)
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Rating:52Neutral
Price Target:
$13.50
▲(22.84% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weak financial performance—persistent operating losses and chronic negative operating/free cash flow with heightened recent burn—despite strong revenue growth. The earnings call adds support through reaffirmed high-growth guidance, improving gross margin, strong contracted revenue visibility, and a strengthened cash runway, while technicals remain mixed and valuation appears optically low but is constrained by the loss/cash-burn profile.
Positive Factors
Contracted revenue visibility
High contracted revenue (~76% of 2026 guidance) creates durable revenue visibility and backlog for a subscription-heavy data business. This reduces near-term demand risk, improves forecasting, and supports disciplined investment to reach adjusted EBITDA breakeven and positive cash flow targets.
Negative Factors
Negative operating and free cash flow
Persistent negative operating and free cash flow implies reliance on external financing to fund growth, increasing dilution or refinancing risk. Even with recent private placement proceeds, sustained improvement in cash conversion is required to avoid recurrent capital raises and to deliver the planned 2027 positive cash flow outcome.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted revenue visibility
High contracted revenue (~76% of 2026 guidance) creates durable revenue visibility and backlog for a subscription-heavy data business. This reduces near-term demand risk, improves forecasting, and supports disciplined investment to reach adjusted EBITDA breakeven and positive cash flow targets.
Read all positive factors
Spire Global (SPIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$460.91M
Dividend YieldN/A
Average Volume (3M)1.19M
Price to Earnings (P/E)6.9
Beta (1Y)2.28
Revenue Growth-36.17%
EPS GrowthN/A
CountryUS
Employees377
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.65
Shares Outstanding38,711,548
10 Day Avg. Volume1,010,987
30 Day Avg. Volume1,188,580
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.05
Price to Sales (P/S)3.24
P/FCF Ratio-2.50
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$18.75Price Target Upside70.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.14
Revenue Forecast (FY)$79.91M
Spire Global Business Overview & Revenue Model
Company Description
Spire Global, Inc. specializes in creating advanced hardware and a sophisticated analytics platform designed to observe oceanic activities, atmospheric conditions, and weather phenomena worldwide. This enterprise provides its solutions to a divers...
How the Company Makes Money
Spire primarily makes money by selling subscription-based access to data products and analytics generated from its satellite constellation and data-processing infrastructure, supplemented by fees from space services and mission-related work. Key r...
Spire Global Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call emphasized strong execution and visible progress: revenue beat guidance, core revenue grew 13% YoY, gross margin expanded 5 points, RFGL and HyMS technical milestones have converted into early revenue and orders, manufacturing and reserved launch capacity provide durable competitive advantages, and the company strengthened its cash position with a $65.5M placement. Near-term challenges remain: meaningful operating losses (adjusted EBITDA negative), significant Q1 operating cash burn driven by working capital and elevated professional fees, and execution/delivery and European procurement timing risks that could affect the cadence of back-half revenue. Overall, the positives—contract coverage (76% of 2026 guidance), technology validation, commercial and government wins, and strengthened runway—outweigh the near-term financial headwinds and timing risks.Positive Updates
Revenue Beat and Strong Top-Line Guidance
Q1 GAAP revenue was $15.8M, which came in above the high end of guidance. Full-year 2026 revenue guidance reaffirmed at $75M–$85M (over 50% YoY growth ex-maritime at the midpoint).
Negative Updates
Near-Term Profitability and Continued Losses
Q1 adjusted EBITDA was negative $10.2M (but above guidance). Full-year adjusted EBITDA guidance remains negative $26.0M to negative $20.7M; full-year non-GAAP operating loss guidance is negative $37.8M to negative $32.6M, and non-GAAP loss per share expected between -$0.93 and -$0.79.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Beat and Strong Top-Line Guidance
Q1 GAAP revenue was $15.8M, which came in above the high end of guidance. Full-year 2026 revenue guidance reaffirmed at $75M–$85M (over 50% YoY growth ex-maritime at the midpoint).
Read all positive updates
Company Guidance
Spire reaffirmed unchanged full‑year 2026 guidance of $75–85 million revenue (which equates to >50% YoY growth ex‑maritime at the midpoint), adjusted EBITDA of negative $26.0M to negative $20.7M, non‑GAAP operating loss of negative $37.8M to negative $32.6M, and non‑GAAP loss per share of negative $0.93 to negative $0.79 on ~37.9M shares, and said it will move to annual (not quarterly) guidance; Q1 beat the high end of guidance with GAAP revenue $15.8M (core revenue ex‑maritime +13% YoY), non‑GAAP gross margin 44% (+5 pts YoY), adjusted EBITDA negative $10.2M, and $26.2M used in operating cash flow, with ~ $50M cash & marketable securities at quarter‑end plus $65.5M net proceeds from an April 10 private placement, roughly 76% of 2026 guidance already under contract, and targets of adjusted EBITDA breakeven in Q4 2026–Q1 2027 and positive operating cash flow sometime in 2027.Spire Global Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
15
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.51M | 71.55M | 110.45M | 97.61M | 70.77M | 43.38M |
| Gross Profit | 26.76M | 29.16M | 39.89M | 38.59M | 17.14M | 24.66M |
| EBITDA | 68.85M | 77.82M | -55.73M | -37.51M | -64.09M | -17.67M |
| Net Income | 48.55M | 51.30M | -102.82M | -77.56M | -99.01M | -38.09M |
Balance Sheet | ||||||
| Total Assets | 182.86M | 210.99M | 193.57M | 239.26M | 255.99M | 304.27M |
| Cash, Cash Equivalents and Short-Term Investments | 49.46M | 81.78M | 19.21M | 40.86M | 70.28M | 109.26M |
| Total Debt | 11.77M | 13.40M | 111.41M | 130.70M | 111.62M | 51.12M |
| Total Liabilities | 91.65M | 98.06M | 205.26M | 201.48M | 164.85M | 114.06M |
| Stockholders Equity | 91.21M | 112.93M | -11.69M | 37.78M | 91.13M | 190.21M |
Cash Flow | ||||||
| Free Cash Flow | -118.55M | -92.61M | -45.03M | -53.66M | -66.73M | -73.57M |
| Operating Cash Flow | -86.70M | -59.83M | -18.45M | -36.31M | -47.82M | -57.99M |
| Investing Cash Flow | 176.09M | 151.19M | -14.23M | -4.97M | -41.83M | -119.48M |
| Financing Cash Flow | -103.73M | -74.90M | 19.00M | 23.91M | 26.37M | 270.53M |
Spire Global Technical Analysis
Neutral
10.99
Price Trends
16.22
Negative
16.45
Negative
13.05
Negative
Market Momentum
-1.10
Negative
46.80
Neutral
90.86
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPIR, the sentiment is Neutral. The current price of 10.99 is below the 20-day moving average (MA) of 12.41, below the 50-day MA of 16.22, and below the 200-day MA of 13.05, indicating a neutral trend. The MACD of -1.10 indicates Negative momentum. The RSI at 46.80 is Neutral, neither overbought nor oversold. The STOCH value of 90.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SPIR.
Spire Global Risk Analysis
Spire Global disclosed 39 risk factors in its most recent earnings report. Spire Global reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Spire Global Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $719.75M | 19.69 | 15.09% | 2.34% | 0.13% | 49.40% | |
71 Outperform | $1.35B | 123.16 | 10.41% | ― | 12.87% | -63.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $427.89M | -23.68 | -4.87% | ― | -3.31% | -73.22% | |
60 Neutral | $822.42M | -4.50 | -13.11% | ― | 4.42% | -428.47% | |
52 Neutral | $460.91M | 6.95 | 39.92% | ― | -36.17% | ― | |
41 Neutral | $34.92M | -0.51 | 106.69% | ― | -65.57% | -254.11% |
* Industrials Sector Average
SPIR
Spire Global
13.38
3.80
39.67%
ACTG
Acacia Research
4.67
1.34
40.45%
CASS
Cass Information Systems
58.09
17.97
44.79%
OMEX
Odyssey Marine Exploration
0.75
-0.73
-49.19%
KODK
Kodak
9.45
2.33
32.72%
LZ
LegalZoom
5.67
-2.70
-32.32%
Spire Global Corporate Events
Financial DisclosuresLegal Proceedings
Spire Global Wins $12.4 Million Arbitration Award
Positive
Aug 5, 2026
On July 31, 2026, an arbitral tribunal of the International Court of Arbitration of the International Chamber of Commerce issued a final and binding award of approximately $12.4 million in favor of Spire Global in a dispute with Space Services cus...
Business Operations and StrategyExecutive/Board Changes
Spire Global Appoints New Chief Commercial Officer
Positive
Jul 17, 2026
Spire Global, Inc., a specialist in space-based data, analytics and space services, operates a real-time satellite constellation that supports decision-making for government and commercial customers across weather, maritime, aviation and security ...
Business Operations and StrategyExecutive/Board Changes
Spire Global COO Resigns as Strategy Shifts Commercially
Neutral
May 29, 2026
On May 29, 2026, Spire Global said Chief Operating Officer Celia Pelaz informed the company she will resign effective September 30, 2026, to take a new role at another organization. The company credited Pelaz with significant operational improveme...
Executive/Board ChangesShareholder Meetings
Spire Global Shareholders Back Board, Pay, and Auditor
Positive
May 28, 2026
At its annual meeting of stockholders held on May 27, 2026, Spire Global shareholders elected William Porteous and Toni Rinow as Class II directors to serve until the 2029 annual meeting, reinforcing continuity on the company’s board. Invest...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.