Spire Global beats Q1 revenue estimates

Spire Global

13/05/2026 21:18

Overview

US satellite data provider's Q1 revenue fell 34% yr/yr but beat analyst expectations

Adjusted EBITDA declined 29% yr/yr, impacted by maritime business sale

Company raised $70 mln in April to fund working capital and growth

Outlook

Spire sees FY26 revenue between $75 mln and $85 mln, including $3.7 mln maritime revenue

Company expects FY26 adjusted EBITDA between ($26 mln) and ($20.7 mln)

Spire will no longer provide quarterly financial guidance, citing timing of large contracts

Result Drivers

MARITIME BUSINESS SALE - Revenue fell 34% yr/yr, primarily due to the sale of the maritime business at the end of April 2025

NOAA CONTRACTS - Excluding maritime, revenue rose 13% yr/yr, mainly due to higher radio occultation and ocean winds data sales under NOAA awards

LOWER COSTS - Gross margin improved, reflecting lower software and depreciation expenses

Company press release: ID:nBw75GzSWa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$15.83 mln
$15.08 mln (5 Analysts)
Q1 EPS
-$0.78
Q1 Net Income
-$25.84 mln
Q1 Gross Profit
$6.31 mln
Q1 Income From Operations
-$24.58 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the wireless telecommunications services peer group is "buy"

Wall Street's median 12-month price target for Spire Global Inc is $17.50, about 0.8% below its May 12 closing price of $17.64

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)