0001193125-26-222710
SEC filingMD&A section not provided in the input; financial analysis unavailable.
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As of March 31, 2026, Spire Global held $16.0 million in cash and cash equivalents and $33.4 million in marketable securities (commercial paper and U.S. treasury bills/bonds), totaling $49.4 million in liquid assets. This compares to $81.8 million at December 31, 2025. The company had no outstanding debt as of March 31, 2026, following the repayment of the Blue Torch Credit Facility ($108.6M) and the SIF loan on April 25, 2025 using proceeds from the Maritime Transaction. Total assets were $182.9 million, down from $211.0 million at year-end 2025, primarily due to the reduction in cash and marketable securities. Stockholders' equity was $91.2 million, down from $112.9 million, driven by a net loss of $25.8 million in the quarter. The company's accumulated deficit stood at $513.2 million.
Total remaining performance obligations (RPO) were $184.8 million as of March 31, 2026. The expected recognition timeline is: $62.3 million within 12 months, $58.5 million in 13-24 months, $46.8 million in 25-36 months, $11.7 million in 37-48 months, and $5.5 million thereafter. Contract liabilities (deferred revenue) totaled $48.4 million, with $36.0 million current and $12.4 million non-current. A subsequent event on April 23, 2026, involved a customer contract termination that will eliminate approximately $42.3 million of previously expected RPO revenue ($8.1M in the next 12 months, $19.7M in 13-24 months, and $14.5M in 25-36 months). The company also disclosed operating lease commitments of $14.8 million in total lease payments, with a present value of $11.8 million, maturing through 2031.
No share buybacks or dividends were reported. Capital expenditures totaled $8.0 million for the three months ended March 31, 2026, representing 50.3% of revenue. Of this, $3.0 million was for Spire platform/infrastructure and $4.9 million was customer-funded (Space Services). The company completed a $65.5 million private placement on April 10, 2026 (subsequent event), issuing 5,000,000 shares at $14.00 per share. All debt was repaid in April 2025, leaving the company debt-free as of March 31, 2026.
The company operates as a single reportable segment. Revenue by geography for Q1 2026: Americas 65% ($10.3M), EMEA 32% ($5.1M), Asia Pacific 3% ($0.4M). Subscription revenue was 83% of total ($13.2M), non-subscription 17% ($2.6M). Customer concentration: Customer A (U.S. government agencies) represented 30% of revenue, Customer B 13%, and Customer C 10%. No other customer exceeded 10%.
The provided document does not contain the actual consolidated statements of cash flows. Only the components of cash, cash equivalents, and restricted cash are shown. As of March 31, 2026, cash and cash equivalents totaled $16.0 million, down from $24.8 million at December 31, 2025. Restricted cash was $0.6 million at both dates. Total cash, cash equivalents, and restricted cash decreased from $25.4 million to $16.6 million. Without the cash flow statement, no analysis of operating cash flow, capex, free cash flow, or capital returns is possible. The decline in cash suggests net cash outflows during the quarter, but the sources and uses cannot be determined from the excerpt provided.