Financial Reporting DelaysThe company has still not filed its 2Q24 10-Q, placing it in violation of its previously amended Blue Torch financing agreement.
Leadership ChangesLeo Basola, Spire’s Chief Financial Officer, has notified the company of his intent to step down from his role upon completion of the audit process and restatement of prior period company financial statements.
Revenue Recognition IssuesThe contract audit of revenue recognition practices is projected to impact revenues, although it is considered a one-time episode.