Want to see SPIR full AI Analyst Report?
Top Page
Spire Global
(NYSE:SPIR)
Select Model
Select Model
Rating:51Neutral
Price Target:
$14.00
▲(27.39% Upside)
Action:Reiterated
Date:08/19/26
The score is held back primarily by weak financial performance—large TTM losses and persistent negative operating/free cash flow—despite improved current leverage. Offsetting this, the earnings call indicated strengthening revenue visibility and improving operating trends with strong contracted coverage of guidance, while technicals remain mixed and valuation is constrained by a negative P/E and lack of dividend yield support.
Positive Factors
Contracted Revenue Visibility
Contract coverage substantially reduces near-term revenue uncertainty and supports conversion of the $75–$85M outlook. Growing coverage, NOAA opportunities, and international awards could create a more durable base for recurring data and analytics revenue.
Negative Factors
Persistent Operating Losses
Deep operating losses indicate that the current cost base remains far ahead of revenue, weakening earnings quality and limiting self-funded growth. A volatile earnings history also makes it harder to establish confidence that improving guidance will translate into sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted Revenue Visibility
Contract coverage substantially reduces near-term revenue uncertainty and supports conversion of the $75–$85M outlook. Growing coverage, NOAA opportunities, and international awards could create a more durable base for recurring data and analytics revenue.
Read all positive factors
Spire Global (SPIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$557.75M
Dividend YieldN/A
Average Volume (3M)1.19M
Price to Earnings (P/E)―
Beta (1Y)2.61
Revenue Growth-33.13%
EPS Growth-511.56%
CountryUS
Employees375
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-2.67
Shares Outstanding39,115,047
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
$22.83Price Target Upside107.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.88
Revenue Forecast (FY)$79.84M
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:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call presented clear operational momentum: accelerating core revenue (Q2 +16% YoY, +19% sequential), expanding contract backlog (over 85% of guidance contracted), manufacturing scale-up (300–400 satellites annual capacity), notable NOAA and international wins, technology milestones (cross-plane OISL) and a favorable arbitration award (~$12.4M). Offsetting these positives were a material quarter-over-quarter gross margin decline (38% vs. 52% prior year) driven by the WildFireSat cancellation, continued negative adjusted EBITDA (-$8.6M) and negative operating cash flow (-$23.4M), and execution/timing risk tied to H2 contract awards and NOAA IDIQ timing. Management expects margins and cash flow to improve as revenue scales in H2 and into 2027, and the balance of disclosures indicates momentum outweighs near-term challenges.Positive Updates
Revenue Growth and Reaffirmed Guidance
Q2 GAAP revenue of $18.0M; core revenue (excluding divested maritime business) grew 16% year-over-year and 19% sequentially. First-half revenue was $33.9M; full-year 2026 guidance reaffirmed at $75M–$85M (midpoint implies ~50% core YoY growth).
Negative Updates
Gross Margin Compression
Non-GAAP gross margin fell to 38% in Q2 from 52% in Q2 of prior year (a ~14 percentage-point decline), primarily due to the WildFireSat contract cancellation for convenience and associated balance-sheet cleanup.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth and Reaffirmed Guidance
Q2 GAAP revenue of $18.0M; core revenue (excluding divested maritime business) grew 16% year-over-year and 19% sequentially. First-half revenue was $33.9M; full-year 2026 guidance reaffirmed at $75M–$85M (midpoint implies ~50% core YoY growth).
Read all positive updates
Company Guidance
Management reaffirmed full‑year 2026 revenue guidance of $75–$85M (midpoint implies ~50% core YoY growth), noting H1 revenue of $33.9M and an implied H2 of ~$41–$51M; Q2 GAAP revenue was $18M (core +16% YoY, +19% sequentially). As of end‑July, >85% of the full‑year guidance (and >85% of the midpoint) is contracted (up from 76% in May), with near‑term drivers including an 8‑figure U.S. microwave‑sounding contract in negotiation, a NOAA RO bridge/renewal expected to exceed last year’s $11.2M award, a HyMS data extension up to $5M over nine months, an expanded EUMETSAT RO award >€4M annually, and pipelines of >$150M at NOAA and >$100M across the U.S. federal channel. Financials tied to the outlook: non‑GAAP gross margin 38% (Q2), adjusted EBITDA -$8.6M (improved 16% YoY, 15% sequentially), cash used in operations $23.4M (improved 32% YoY, 11% sequentially), cash & marketable securities ≈$92M and debt‑free; management expects gross‑margin expansion in H2 and adjusted EBITDA breakeven by late‑2026/early‑2027. Operationally they cited 29 satellites launched in 2026 to date, RFGL capacity ~10x YTD, manufacturing capacity ~300–400 satellites/year, and a ~$12.4M arbitration award in Spire’s favor.Spire Global Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.38M | 71.55M | 110.45M | 97.61M | 70.77M | 43.38M |
| Gross Profit | 23.54M | 29.16M | 39.89M | 38.59M | 17.14M | 24.66M |
| EBITDA | -77.23M | 77.82M | -55.73M | -37.51M | -64.09M | -17.67M |
| Net Income | -90.58M | 51.30M | -102.82M | -77.56M | -99.01M | -38.09M |
Balance Sheet | ||||||
| Total Assets | 226.66M | 210.99M | 193.57M | 239.26M | 255.99M | 290.19M |
| Cash, Cash Equivalents and Short-Term Investments | 91.67M | 81.78M | 19.21M | 40.86M | 70.28M | 109.26M |
| Total Debt | 6.79M | 13.40M | 111.41M | 130.70M | 111.62M | 51.12M |
| Total Liabilities | 82.38M | 98.06M | 205.26M | 201.48M | 164.85M | 99.99M |
| Stockholders Equity | 144.28M | 112.93M | -11.69M | 37.78M | 91.13M | 190.21M |
Cash Flow | ||||||
| Free Cash Flow | -108.69M | -92.61M | -45.03M | -53.66M | -66.73M | -73.57M |
| Operating Cash Flow | -75.00M | -59.83M | -18.45M | -36.31M | -47.82M | -57.99M |
| Investing Cash Flow | -2.55M | 151.19M | -14.23M | -4.97M | -41.83M | -119.48M |
| Financing Cash Flow | 80.65M | -74.90M | 19.00M | 23.91M | 26.37M | 270.53M |
Spire Global Technical Analysis
Negative
10.99
Price Trends
14.40
Negative
16.69
Negative
13.28
Positive
Market Momentum
-0.03
Negative
47.78
Neutral
37.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPIR, the sentiment is Negative. The current price of 10.99 is below the 20-day moving average (MA) of 13.55, below the 50-day MA of 14.40, and below the 200-day MA of 13.28, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 47.78 is Neutral, neither overbought nor oversold. The STOCH value of 37.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $734.18M | 20.09 | 15.09% | 2.34% | 2.06% | 49.36% | |
78 Outperform | $1.01B | 61.84 | 10.41% | ― | 12.26% | -41.84% | |
65 Neutral | $439.14M | -17.08 | -2.81% | ― | 12.33% | -160.91% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $924.18M | -7.23 | -13.11% | ― | 9.45% | -1658.03% | |
51 Neutral | $557.75M | -5.07 | -75.24% | ― | -33.13% | -511.56% | |
44 Neutral | $54.61M | -1.06 | 100.12% | ― | -70.31% | -348.06% |
* Industrials Sector Average
SPIR
Spire Global
13.54
4.43
48.63%
ACTG
Acacia Research
4.49
1.21
36.89%
CASS
Cass Information Systems
57.06
15.30
36.63%
OMEX
Odyssey Marine Exploration
0.90
-1.16
-56.17%
KODK
Kodak
9.53
3.74
64.59%
LZ
LegalZoom
5.90
-5.25
-47.09%
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.