Spire Global Q2 revenue falls slightly more than expected after maritime business sale

Spire Global

12/08/2026 21:15

Overview
Satellite data provider's Q2 revenue fell 6% yr/yr, slightly missing analyst expectations
Adjusted EBITDA loss for Q2 narrowed 16% yr/yr, driven by lower operating expenses
Company reaffirmed full-year revenue guidance and announced new strategic partnerships

Outlook
Spire Global reaffirms 2026 revenue guidance of $75 mln to $85 mln
Company expects 2026 adjusted EBITDA between -$26 mln and -$20.7 mln
Spire sees cash flow used in operations improving sequentially in Q3 and Q4 2026

Result Drivers
MARITIME DIVESTITURE - Revenue declined 6% yr/yr, mainly due to the sale of the maritime business at the end of April 2025
SPACE SERVICES AND RFGL GROWTH - Excluding maritime, revenue rose 16% yr/yr, driven by higher delivery of space services data and increased radio-frequency geolocation data purchases
GROSS MARGIN DECLINE - Gross margin fell due to impacts from the cancellation of the WildFireSat contract

Company press release: ID:nBw2BPJxQa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Miss*
$18.05 mln
$18.14 mln (4 Analysts)
Q2 Net Loss
 
$19.97 mln
 
Q2 Gross Profit
 
$6.16 mln
 
Q2 Income From Operations
 
-$19.89 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 $22.25, about 50.1% above its August 11 closing price of $14.82

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(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.)