Wed, May 14, 8:16 PM (29 days ago)
**Spire Global, Inc. (SPIR) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $23.9M (down 31% YoY from $34.8M) - **Gross Profit:** $8.8M (down 4% YoY from $9.2M) - **Gross Margin:** 37% (up from 27% YoY) - **Net Loss:** $20.7M (down 19% YoY from $25.5M) - **Cash Flow:** Negative $8.4M from operations **Key Metrics:** - **ARR:** $129.3M (up 7% YoY from $120.9M) - **ARR Customers:** 570 (down 15% YoY from 672) - **ARR Solution Customers:** 620 (down 12% YoY from 708) - **ARR Net Retention Rate:** 97% (down from 102% YoY) **Operational Trends:** - **Revenue:** Decline due to reduced value of NOAA’s RO weather award and a one-time performance obligation in 2024. - **Cost of Revenue:** Decreased by 41% due to lower satellite operation and personnel expenses. - **Operating Expenses:** Increased by 58% due to higher R&D, sales and marketing, and general and administrative expenses. - **Cash Flow:** Negative due to operating losses and investments in growth. **Uncertainties & Future Operations Impact:** - **Macroeconomic Factors:** Currency fluctuations, inflation, and geopolitical tensions impact revenue and expenses. - **Solar Cycle:** A stronger solar cycle may accelerate satellite deorbiting and shorten useful lives. - **Growth Investments:** Continued investment in R&D, sales, and marketing to drive future growth. - **Acquisitions:** Potential acquisitions to complement or expand the platform. - **Liquidity:** Completed sale of maritime business and private placement to improve working capital. **Notable Events:** - Sale of maritime business for approximately $233.5M. - Private placement raising $37.3M. - Repayment of obligations under Blue Torch Financing Agreement and SIF loan agreement. - Awarded a Can$72M contract from the Canadian Space Agency. - Successful two-way laser communication between satellites. - Launch of AI weather models built on NVIDIA Omniverse Blueprint for Earth-2.