Spire Global (SPIR)
NYSE:SPIR
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Spire Global
(NYSE:SPIR)
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Rating:53Neutral
Price Target:
$18.50
▼(-5.32% Downside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance—deep losses and significant ongoing cash burn—despite strong top-line momentum. Technicals are supportive with a clear uptrend and healthy momentum indicators, and earnings commentary adds credibility via contracted revenue visibility and improved margins, but valuation remains challenged due to losses and corporate events include both runway improvement (financing) and a notable contract setback (WildFireSat termination).
Positive Factors
Contracted revenue visibility
High contracted coverage (~76% of 2026 guidance) provides durable revenue visibility and reduces near‑term demand uncertainty. For a subscription/contract-driven data business this increases predictability of cash flows and supports scalable sales efforts and multi-year government procurements.
Negative Factors
Persistent cash burn and weak cash generation
Chronic negative operating and free cash flow implies the business is not self‑funding and remains reliant on external financing. Over time this can dilute shareholders, limit strategic optionality, and force prioritization of cash-preserving contracts rather than longer-term growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted revenue visibility
High contracted coverage (~76% of 2026 guidance) provides durable revenue visibility and reduces near‑term demand uncertainty. For a subscription/contract-driven data business this increases predictability of cash flows and supports scalable sales efforts and multi-year government procurements.
Read all positive factors
Spire Global (SPIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$701.09M
Dividend YieldN/A
Average Volume (3M)1.87M
Price to Earnings (P/E)―
Beta (1Y)1.87
Revenue Growth-36.17%
EPS GrowthN/A
CountryUS
Employees434
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.65
Shares Outstanding33,529,766
10 Day Avg. Volume4,022,961
30 Day Avg. Volume1,870,187
Financial Highlights & Ratios
PEG Ratio-32.52
Price to Book (P/B)2.05K
Price to Sales (P/S)3239.93
P/FCF Ratio-2.50
Enterprise Value/Market Cap-10.76
Enterprise Value/Revenue-0.47
Enterprise Value/Gross Profit-1.19
Enterprise Value/Ebitda0.31
Forecast
1Y Price Target
$20.10Price Target Upside2.87% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.31
Revenue Forecast (FY)$78.59M
Spire Global Business Overview & Revenue Model
Company Description
Spire Global, Inc. develops a hardware and intelligent analytics platform that tracks the oceans, skies, and weather. It serves maritime, weather, aviation, space services, earth intelligence, and federal industries. Spire Global, Inc. has a strat...
How the Company Makes Money
Spire primarily makes money by selling access to satellite-derived data and analytics, generally delivered as subscription or contract-based services to commercial and government customers. Key revenue streams include: (1) Data subscriptions and d...
Spire Global Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call emphasized strong execution and visible progress: revenue beat guidance, core revenue grew 13% YoY, gross margin expanded 5 points, RFGL and HyMS technical milestones have converted into early revenue and orders, manufacturing and reserved launch capacity provide durable competitive advantages, and the company strengthened its cash position with a $65.5M placement. Near-term challenges remain: meaningful operating losses (adjusted EBITDA negative), significant Q1 operating cash burn driven by working capital and elevated professional fees, and execution/delivery and European procurement timing risks that could affect the cadence of back-half revenue. Overall, the positives—contract coverage (76% of 2026 guidance), technology validation, commercial and government wins, and strengthened runway—outweigh the near-term financial headwinds and timing risks.Positive Updates
Revenue Beat and Strong Top-Line Guidance
Q1 GAAP revenue was $15.8M, which came in above the high end of guidance. Full-year 2026 revenue guidance reaffirmed at $75M–$85M (over 50% YoY growth ex-maritime at the midpoint).
Negative Updates
Near-Term Profitability and Continued Losses
Q1 adjusted EBITDA was negative $10.2M (but above guidance). Full-year adjusted EBITDA guidance remains negative $26.0M to negative $20.7M; full-year non-GAAP operating loss guidance is negative $37.8M to negative $32.6M, and non-GAAP loss per share expected between -$0.93 and -$0.79.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Beat and Strong Top-Line Guidance
Q1 GAAP revenue was $15.8M, which came in above the high end of guidance. Full-year 2026 revenue guidance reaffirmed at $75M–$85M (over 50% YoY growth ex-maritime at the midpoint).
Read all positive updates
Company Guidance
Spire reaffirmed unchanged full‑year 2026 guidance of $75–85 million revenue (which equates to >50% YoY growth ex‑maritime at the midpoint), adjusted EBITDA of negative $26.0M to negative $20.7M, non‑GAAP operating loss of negative $37.8M to negative $32.6M, and non‑GAAP loss per share of negative $0.93 to negative $0.79 on ~37.9M shares, and said it will move to annual (not quarterly) guidance; Q1 beat the high end of guidance with GAAP revenue $15.8M (core revenue ex‑maritime +13% YoY), non‑GAAP gross margin 44% (+5 pts YoY), adjusted EBITDA negative $10.2M, and $26.2M used in operating cash flow, with ~ $50M cash & marketable securities at quarter‑end plus $65.5M net proceeds from an April 10 private placement, roughly 76% of 2026 guidance already under contract, and targets of adjusted EBITDA breakeven in Q4 2026–Q1 2027 and positive operating cash flow sometime in 2027.Spire Global Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
15
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.88B | 71.55M | 110.45M | 97.61M | 70.77M | 43.38M |
| Gross Profit | 6.33B | 29.16M | 39.89M | 38.59M | 17.14M | 24.66M |
| EBITDA | -24.48B | 77.82M | -55.73M | -37.51M | -64.09M | -17.67M |
| Net Income | -25.77B | 51.30M | -102.82M | -77.56M | -99.01M | -38.09M |
Balance Sheet | ||||||
| Total Assets | 182.86B | 210.99M | 193.57M | 239.26M | 255.99M | 304.27M |
| Cash, Cash Equivalents and Short-Term Investments | 49.46B | 81.78M | 19.21M | 40.86M | 70.28M | 109.26M |
| Total Debt | 7.83B | 13.40M | 111.41M | 130.70M | 111.62M | 51.12M |
| Total Liabilities | 91.65B | 98.06M | 205.26M | 201.48M | 164.85M | 114.06M |
| Stockholders Equity | 91.21B | 112.93M | -11.69M | 37.78M | 91.13M | 190.21M |
Cash Flow | ||||||
| Free Cash Flow | -34.27B | -92.61M | -45.03M | -53.66M | -66.73M | -73.57M |
| Operating Cash Flow | -26.27B | -59.83M | -18.45M | -36.31M | -47.82M | -57.99M |
| Investing Cash Flow | 16.16B | 151.19M | -14.23M | -4.97M | -41.83M | -119.48M |
| Financing Cash Flow | -103.73M | -74.90M | 19.00M | 23.91M | 26.37M | 270.53M |
Spire Global Technical Analysis
Positive
19.54
Price Trends
12.45
Positive
11.04
Positive
10.77
Positive
Market Momentum
2.62
Negative
60.71
Neutral
67.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPIR, the sentiment is Positive. The current price of 19.54 is above the 20-day moving average (MA) of 16.37, above the 50-day MA of 12.45, and above the 200-day MA of 10.77, indicating a bullish trend. The MACD of 2.62 indicates Negative momentum. The RSI at 60.71 is Neutral, neither overbought nor oversold. The STOCH value of 67.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SPIR.
Spire Global Risk Analysis
Spire Global disclosed 67 risk factors in its most recent earnings report. Spire Global reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Spire Global Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $1.03B | 224.52 | 6.38% | ― | 12.87% | -63.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $442.38M | -7.37 | -3.42% | ― | -3.31% | -73.22% | |
63 Neutral | $587.31M | 15.95 | 14.44% | 2.98% | -3.39% | 71.37% | |
59 Neutral | $945.74M | -12.70 | -18.29% | ― | 4.42% | -428.47% | |
53 Neutral | $701.09M | -4.05 | -9999.00% | ― | -36.17% | ― | |
44 Neutral | $63.26M | 33.49 | 115.04% | ― | -65.57% | -254.11% |
* Industrials Sector Average
SPIR
Spire Global
20.01
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Spire Global Corporate Events
Business Operations and Strategy
Spire Global Faces Termination of Canadian WildFireSat Contract
Negative
Apr 24, 2026
On April 23, 2026, Spire Global Canada Subsidiary Corp. disclosed that the Canadian government, represented by Public Works and Government Services, terminated for convenience its contract for the design and development of the WildFireSat satellit...
Business Operations and StrategyPrivate Placements and Financing
Spire Global Raises $70 Million in Private Placement
Positive
Apr 10, 2026
On April 8, 2026, Spire Global entered into a securities purchase agreement for a $70 million private placement of 5 million Class A common shares at $14.00 per share, which closed on April 10, 2026, with Craig-Hallum Capital Group acting as sole ...
Business Operations and StrategyExecutive/Board Changes
Spire Global Adds Independent Director to Board
Positive
Mar 12, 2026
On March 9, 2026, Spire Global’s board expanded from seven to eight members and appointed John Martinez as an independent Class III director, with a term running until the 2027 annual meeting of shareholders. Martinez was also named to the c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.