Skip to main content

Go Premium in Our Biggest Sale Ever

UPGRADE NOW
TipRanks
Go Ultimate75% OFF

Spire Global (SPIR) Q3 2026 Earnings Report

685 Followers

SPIR Q3 2026 EPS Results

Actual EPS
-$0.31
Consensus EPS
-$0.23
Beat/Miss
Missed by -$0.08
One Year Ago EPS
-$0.40

SPIR Q3 2026 Revenue Results

Actual Revenue
$18.00M
Expected Revenue
$20.64M
Beat/Miss
Missed by -$2.65M
YoY Revenue Growth
+42.05%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/10/2026
Time
After Close
Conference Call
Tuesday, November 10, 2026
SPIR Upcoming Earnings

Spire Global's next earnings date is estimated for March 10, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

SPIR Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 10, 2026|% Change Since:6.63%|
Earnings Call Sentiment|Positive

The call was strongly positive overall. Spire reported substantial core revenue growth, significant multiyear contract wins, improved gross margin and cash usage, a debt-free balance sheet, increased remaining performance obligations, and strong visibility into 2027 revenue. The main negatives were continued adjusted EBITDA losses in 2026, a lower top end to 2026 revenue guidance, and timing uncertainty around certain deals and post-2028 launch capacity.

Company Guidance

Spire now expects full year revenue of $75 million to $80 million, compared with its prior range of $75 million to $85 million, implying fourth quarter revenue of $23 million to $28 million, up from $18 million in the third quarter; fourth quarter adjusted EBITDA is expected to be negative $5 million to breakeven, an improvement at the midpoint of 71% from the third quarter, and full year adjusted EBITDA is expected to be negative $32.4 million to negative $27.4 million. For 2027, Spire is providing a preliminary revenue range of $96 million to $106 million, with 30% growth on a non adjusted basis at the midpoint, approximately 78% of the midpoint revenue already under contract as of the end of the third quarter, positive adjusted EBITDA for the full year 2027, and operating cash flow breakeven during a quarter in 2027; management is focused on getting adjusted EBITDA positive in the first half of 27.

  • Core Revenue GrowthThird-quarter revenue was approximately $18 million. Core revenue, excluding Maritime, grew nearly 10% sequentially and approximately 77% year over year, while reported revenue grew approximately 42% year over year. Q3 was the first quarter with no Maritime revenue, so reported and core revenue are now the same.
  • Significant New Weather Data AwardsSpire captured approximately $75 million of new weather data awards in Q3, including a $33.2 million NOAA radio occultation test order, a $28 million NOAA contract to advance hyperspectral microwave sounding toward operational use, and an expanded radio occultation renewal with EUMETSAT. Management said these awards provide multiyear revenue visibility and support its path to positive adjusted EBITDA in 2027.
  • Higher-Value NOAA Radio Occultation ContractNOAA awarded Spire a $33.2 million radio occultation task order with a 2-year base period running from December 1, 2026 through December 1, 2028. The contract represents $16.6 million per year, nearly 50% higher than the $11.2 million annual contract awarded in 2025. Including surge options, the total value could reach approximately $66 million.
  • Expanded NOAA Data OpportunitiesSpire was selected as eligible for future NOAA task orders covering GNSS reflectometry, hyperspectral microwave sounding, and thermospheric neutral density data under NOAA's new space-based environmental monitoring IDIQ contract, which has a shared $8 billion ceiling. A $3.7 million bridge award began September 18 to maintain radio occultation data delivery until the new order starts December 1.
  • Hyperspectral Microwave Sounding ProgressNOAA extended Spire's HIMSS data contract by 6 months for $3 million, with a 3-month option valued at another $2 million. NOAA also awarded Spire a 2-year, $28 million contract under its teammate program to build and qualify a mature satellite and hyperspectral microwave sounder payload through flight readiness, with operational capability targeted to begin no later than 2030.
  • RFGL Customer and Contract ExpansionSpire signed five RFGL awards in Q3, including two from U.S. customers and three from international customers. Management said repeat customers are expanding their orders and that relationships are progressing from pilots to data subscriptions and larger operational programs. The company reported a robust pipeline of data subscriptions and sovereign capabilities entering 2027.
  • Commercial Business DemandSpire reported growing demand from energy and utility customers for weather forecasting decision-support solutions, as well as growing interest in its GNSS spoofing and interference intelligence platform for aviation. Management said the commercial business diversifies revenue through recurring subscriptions and generates additional revenue from infrastructure already in place.
  • Remaining Performance Obligations IncreasedRemaining performance obligations increased from approximately $135 million at the end of Q2 to $175 million at the end of Q3.
  • Improved Gross Margin and Operating LeverageNon-GAAP gross margin was 49%, compared with 41% a year ago and 38% in Q2. Adjusted EBITDA was approximately negative $8.6 million, an improvement of 27% from negative $11.8 million a year ago, as higher revenue on a largely fixed cost base drove operating leverage.
  • Substantial Cash Usage ImprovementOperating cash use fell to approximately $5 million in Q3 from $23.4 million in Q2 and approximately $12 million in Q3 2025. This represented a 79% sequential improvement and a 59% year-over-year improvement. Management attributed the improvement to disciplined management of cash and working capital and expects further improvement in Q4.
  • Debt-Free Balance SheetSpire ended Q3 with $78 million in cash equivalents and marketable securities and no debt. Management said it does not expect to raise capital for the business to continue on its current trajectory.
  • Fourth-Quarter Revenue and EBITDA RampSpire expects Q4 revenue of $23 million to $28 million, up from approximately $18 million in Q3. The lower end is primarily supported by radio occultation data under NOAA and EUMETSAT, the HIMSS data purchase, and the first full quarter of the teammate program. Q4 adjusted EBITDA is expected to be negative $5 million to breakeven, with a midpoint improvement of 71% from Q3.
  • 2027 Revenue Visibility and Profitability TargetsSpire provided preliminary 2027 revenue guidance of $96 million to $106 million, representing 30% growth from midpoint 2026 revenue to midpoint 2027 revenue. Approximately 78% of midpoint 2027 revenue was already under contract at the end of Q3. The company expects to achieve positive adjusted EBITDA for the full year 2027 and operating cash flow breakeven during a quarter in 2027.
  • Satellite Deployment and U.S. Manufacturing MilestoneSpire launched 10 satellites in July and three more in October, bringing the 2026 total to 32 satellites. The three October satellites were the first built at Spire's Boulder facility on American soil. Developed under the $14 million Stratify contract, they are designed to detect and track moving objects on Earth to improve situational awareness for U.S. defense operations.
  • Launch Capacity and Infrastructure PositioningSpire has launch slots booked through the end of 2028, with pricing for those slots already locked in. The company cited experience across 10 launch vehicles and more than 50 missions and said its satellites, ground network, and operations infrastructure are already established. The Boulder facility could produce up to approximately 50 satellites per year if operated in shifts and supported by customer demand.
  • Growing Multiyear and International PipelineManagement said it is seeing more multiyear deals in the pipeline and that the new Chief Commercial Officer is working to improve pipeline quality and resilience. Spire cited opportunities in the United States, Europe, and other geographies, including 8-figure opportunities that could contribute to growth in 2027.

SPIR Earnings History

SPIR earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Mar 10, 20272026 (Q4)-0.17--0.39――
Nov 10, 20262026 (Q3)-0.23-0.31-0.423.00% (+0.09)
Aug 12, 20262026 (Q2)-0.27-0.31-0.4835.42% (+0.17)
May 13, 20262026 (Q1)-0.49-0.37-0.6341.27% (+0.26)
Mar 18, 20262025 (Q4)-0.47-0.39-0.8353.01% (+0.44)
Nov 11, 20252025 (Q3)-0.33-0.40-0.436.98% (+0.03)
Aug 06, 20252025 (Q2)-0.49-0.53-0.3-76.67% (-0.23)
May 14, 20252025 (Q1)―-770000.00-0.53-145282918.87% (-769999.47)
Mar 31, 20252024 (Q4)-0.78-0.63-0.53-18.87% (-0.10)
Mar 03, 20252024 (Q3)-0.93-0.83-0.35-137.14% (-0.48)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed