Spire Global, Inc.

Spire Global, Inc. (SPIR) reported FY2025 revenue of $71.6 million and gross profit of $29.2 million, reflecting core space-based data operations in space reconnaissance, aviation, weather and climate, and space services. Operating expenses reached $125.1 million, including $36.7 million R&D, $15.3 million sales and marketing, $64.0 million G&A, and $9.1 million loss on decommissioned satellites, yielding a loss from operations of -$96.0 million. Net income swung to $51.3 million, driven by $150.9 million total other income net, primarily a $154.3 million gain on the April 2025 sale of its maritime business for $238.9 million proceeds (net of cash), partially offset by -$12.0 million loss on debt extinguishment. Income tax provision was $3.6 million. Balance sheet: total assets $211.0 million, current assets $93.8 million (cash & equivalents $24.8 million, marketable securities $57.0 million), stockholders' equity $112.9 million, total liabilities $98.1 million with no current long-term debt portion. Cash flows showed operating use of -$59.8 million, investing inflow of $151.2 million led by sale proceeds, financing outflow of -$74.9 million mainly debt repayments, net cash increase $5.7 million to ending $29.6 million (cash, equivalents, restricted). The maritime divestiture resolves prior disputes, repays debt, and enables opex reduction in 2026 while expanding constellation to over 75 satellites by year-end.

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