Spire Global (SPIR) AI Stock Analysis

• Market Cap: $372.76M
• Dividend Yield: N/A
• Average Volume (3M): 599.89K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.07
• Revenue Growth: -11.82%
• EPS Growth: -2.53%
• Country: US
• Employees: 434
• Sector: Industrials
• Sector Strength: 90
• Industry: Specialty Business Services
• EPS (TTM): -770000.00
• Shares Outstanding: 31,076,658
• 10 Day Avg. Volume: 510,242
• 30 Day Avg. Volume: 599,886
• PEG Ratio: -0.02
• Price to Book (P/B): -20.32
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.99
• Enterprise Value/Market Cap: 1.06
• Enterprise Value/Revenue: 0.94
• Enterprise Value/Gross Profit: 9.05
• Enterprise Value/Ebitda: -2.44
• 1Y Price Target: $15.60
• Price Target Upside: 26.62% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 51 Neutral
• Price Target: $12.50 ▲(1.46%Upside)

The overall stock score of 51 reflects significant financial challenges, including high leverage and negative cash flow, despite some positive technical indicators and strategic achievements from recent corporate actions. The company's ongoing operational losses and revenue decline are major concerns, but steps towards financial stability offer a cautious outlook.

Positive Factors

Financial Position

The expected completion of the Kpler deal would significantly boost Spire's cash reserves, allowing them to pay off existing debt.

Government Contracts

Spire Global was selected by the US Space Force for a contract, which could allow the company to grow its business with this customer.

Revenue Growth

Spire Global's revenue growth in the second half of the year is expected to accelerate due to recent satellite launches.

Negative Factors

Cash Flow

The company experienced a free cash flow burn of approximately $45 million during the year, despite a 16% improvement year-over-year.

Equity Dilution

The securities purchase agreement involves selling shares at approximately 22% below the previous closing share price.

Operating Expenses

Spire Global's operating expenses increased significantly due to legal and accounting fees, impacting financial performance.

Spire Global Business Overview & Revenue Model

Company Description

Spire Global, Inc. (SPIR) is a leading provider of space-based data, analytics, and services, leveraging its constellation of nanosatellites to deliver insights across various sectors. The company operates primarily in the maritime, aviation, and weather sectors, offering data solutions that enhance decision-making processes for clients worldwide. Spire Global's core services include tracking and monitoring of global ship movements, aircraft positions, and atmospheric conditions, providing critical information to businesses and organizations.

How the Company Makes Money

Spire Global makes money through a subscription-based revenue model, where customers pay for access to its data and analytics services. The company's key revenue streams include data subscriptions, analytics solutions, and custom data services tailored to specific industry needs. Significant partnerships with government agencies, commercial enterprises, and research institutions also contribute to its earnings, as these collaborations often involve long-term contracts and recurring revenue. Additionally, Spire Global monetizes its infrastructure by offering satellite and data services to third parties, further diversifying its income sources.

Spire Global Financial Statement Overview

Summary

Spire Global exhibits strong revenue growth but faces significant challenges with profitability and financial stability. High operating costs and consistent losses negatively impact margins, while the balance sheet shows concerning levels of debt and negative equity. Cash flow challenges persist, with some recent improvements. The company needs to focus on profitability and financial health to mitigate risks.

Income Statement

Spire Global has shown consistent revenue growth over the years, with revenue increasing from $18.5 million in 2019 to $110.5 million in 2024. However, the company is facing significant profitability challenges, as indicated by negative EBIT and net income margins. The net profit margin is deeply negative, reflecting substantial losses, and the gross profit margin has declined from previous years. This suggests high operating costs and a struggle to achieve profitability.

Balance Sheet

The company has a high debt-to-equity ratio due to negative stockholders' equity, which indicates financial instability and potential solvency issues. Total liabilities have consistently exceeded total assets, which is a significant risk factor. The equity ratio is negative, further highlighting that liabilities surpass equity, posing a concern for financial health. Return on equity is also negative due to persistent losses.

Cash Flow

Spire Global has faced challenges in maintaining positive cash flows. Operating and free cash flows have been negative, indicating cash burn and reliance on external financing. There have been improvements in reducing free cash flow deficits recently, but the overall cash flow situation remains concerning. The free cash flow to net income ratio is negative, reflecting ongoing losses.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
110.45M	105.70M	80.27M	43.38M	28.49M
	Gross Profit
39.89M	63.27M	39.94M	24.66M	18.20M
	EBIT
-68.73M	-44.65M	-68.55M	-67.83M	-25.34M
	EBITDA
-55.73M	-23.69M	-54.45M	-17.00M	-19.92M
	Net Income Common Stockholders
-102.82M	-63.96M	-89.41M	-19.31M	-32.50M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
19.21M	40.87M	70.28M	109.26M	15.57M
	Total Assets
193.57M	246.82M	256.51M	290.19M	44.42M
	Total Debt
111.41M	130.70M	111.62M	51.12M	75.28M
	Net Debt
92.21M	101.55M	64.43M	-58.13M	59.70M
	Total Liabilities
205.26M	176.29M	146.39M	101.33M	93.16M
	Stockholders Equity
-11.69M	70.54M	110.12M	188.86M	-48.74M
Cash Flow		Free Cash Flow
-45.03M	-53.66M	-66.73M	-73.56M	-25.19M
	Operating Cash Flow
-18.45M	-23.62M	-47.82M	-57.97M	-14.77M
	Investing Cash Flow
-14.23M	-17.65M	-41.83M	-120.85M	-10.41M
	Financing Cash Flow
19.00M	23.91M	26.37M	270.53M	16.62M

Spire Global Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.32
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 12.32 is above the 20-day moving average (MA) of 11.01, above the 50-day MA of 9.81, and above the 200-day MA of 11.51, indicating a bullish trend. The MACD of 0.39 indicates Negative momentum. The RSI at 65.20 is Neutral, neither overbought nor oversold. The STOCH value of 81.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SPIR.

Spire Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LZ	75 Outperform	$1.66B	54.55	17.09%	―	3.25%	56.17%
CBZ	74 Outperform	$4.03B	49.37	6.25%	―	32.27%	-40.50%
Sector *	66 Neutral	$4.50B	12.29	5.40%	248.66%	4.13%	-12.33%
FA	58 Neutral	$3.16B	549.40	-13.59%	―	37.97%	-499.29%
ACTG	56 Neutral	$368.34M	7.73	-2.09%	―	65.22%	-133.47%
SPIR	51 Neutral	$372.76M	―	-337.63%	―	-11.82%	-2.53%
KODK	49 Neutral	$469.33M	12.20	6.47%	―	-4.32%	-22.48%

Spire Global Corporate Events

Spire Global Holds Annual Stockholders Meeting

On June 4, 2025, Spire Global, Inc. held its annual meeting of stockholders, where key proposals were voted on. The stockholders elected Peter Platzer, Stephen Messer, and Joan Amble as Class I directors to serve until the 2028 annual meeting. Additionally, the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. These decisions are expected to influence the company’s strategic direction and financial oversight in the coming years.

The most recent analyst rating on (SPIR) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Spire Global stock, see the SPIR Stock Forecast page.

Spire Global Reports Strong Q1 2025 Financial Results

On May 14, 2025, Spire Global announced its first quarter 2025 results, reporting a revenue of $23.9 million and a 5% improvement in cash flow used in operations year-over-year. The company retired all its debt by the end of April 2025 and expects to maintain over $100 million in cash and equivalents by the year’s end. Spire secured its largest contract to date with the Canadian government to monitor wildfires and expanded its Canadian facility to support this project. Additionally, Spire achieved a significant milestone by establishing a two-way optical link between satellites, enhancing data transmission capabilities. The company also launched advanced AI weather models and secured a contract with Concirrus for aviation data, further solidifying its position in the space-based data industry.

The most recent analyst rating on (SPIR) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Spire Global stock, see the SPIR Stock Forecast page.

Spire Global Sells Maritime Business to Kpler

On April 25, 2025, Spire Global completed the sale of its maritime business to Kpler for approximately $233.5 million. The transaction included a $7.5 million agreement for transitional services. The proceeds from the sale were used to eliminate all outstanding debt, with the remaining funds earmarked for investment in growth opportunities. This strategic move is expected to enhance Spire’s financial position and allow the company to focus on its core space-based data and analytics services. The sale also involved a settlement agreement with L3Harris, resolving previous disputes and contributing to the financial adjustments of the transaction.

Spire Global Announces CFO Transition Effective April 2025

Spire Global announced a change in its executive team, with Alison Engel set to replace Thomas Krywe as the Chief Financial Officer, principal financial officer, and principal accounting officer, effective April 1, 2025. However, the transition was delayed to the business day following the filing of an amendment on March 31, 2025, and the grant date for Engel’s restricted stock units was also postponed to this new effective date.

Spire Global Reports Strong 2024 Financial Results

On March 31, 2025, Spire Global announced its financial results for the fourth quarter and full year of 2024, reporting a 13% year-over-year revenue growth to $110.5 million. The company also highlighted a 49% improvement in cash flows used in operations and a 16% improvement in free cash flow, reflecting progress towards positive free cash flow. Spire emphasized its strategic focus on operational efficiency and productivity to enhance market responsiveness and increase margins. Additionally, Spire announced a mission with Mission Control to explore AI in space and a partnership with LatConnect60 to improve sustainable agriculture practices using its satellite data.

Spire Global Secures $40M in Private Placement

On March 12, 2025, Spire Global, Inc. entered into a securities purchase agreement for a private placement of Class A common stock and pre-funded warrants, raising approximately $40 million. The private placement, which closed on March 14, 2025, aims to support the company’s working capital and general corporate purposes. The transaction, exempt from public offering registration, involves a lock-up agreement restricting stock sales by executives and directors for 90 days post-closing. This strategic financial move is expected to bolster Spire’s operational capabilities and market positioning.