Spire Global (SPIR)
NYSE:SPIR
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Spire Global
(NYSE:SPIR)
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Rating:51Neutral
Price Target:
$16.00
▲(0.57% Upside)
Action:ReiteratedDate:04/03/26
The score is held down primarily by weak financial performance (ongoing losses, persistent cash burn, and balance-sheet volatility) and very unfavorable valuation (extreme P/E with no dividend support). These are partially offset by constructive technical momentum and an earnings-call outlook supported by sizeable backlog and targets for breakeven by Q4 2026, though near-term execution and revenue timing risks remain.
Positive Factors
Backlog / Contract Visibility
A >$200M deferred revenue backlog provides multi-year contracted demand and revenue visibility. This backlog supports predictable revenue conversion, underpins capacity planning and helps de-risk investments in satellite build and operations, improving odds of reaching targeted breakeven.
Negative Factors
Persistent Cash Burn
Consistent negative operating and free cash flow over multiple years indicates the business is not self-funding. Long-term cash burn forces reliance on external financing, increasing dilution risk, constraining capital allocation, and reducing flexibility to fund growth or absorb execution delays.
Read all positive and negative factors
Positive Factors
Negative Factors
Backlog / Contract Visibility
A >$200M deferred revenue backlog provides multi-year contracted demand and revenue visibility. This backlog supports predictable revenue conversion, underpins capacity planning and helps de-risk investments in satellite build and operations, improving odds of reaching targeted breakeven.
Read all positive factors
Spire Global (SPIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$557.03M
Dividend YieldN/A
Average Volume (3M)698.34K
Price to Earnings (P/E)4518.6
Beta (1Y)1.90
Revenue Growth-31.51%
EPS GrowthN/A
CountryUS
Employees434
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-0.39
Shares Outstanding33,504,060
10 Day Avg. Volume1,053,278
30 Day Avg. Volume698,343
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 Cap0.94
Enterprise Value/Revenue7.29
Enterprise Value/Gross Profit17.89
Enterprise Value/Ebitda-7.01
Forecast
1Y Price Target
$15.25Price Target Upside-4.15% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.99
Revenue Forecast (FY)$78.26M
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 subscriptions and contracts for data and data-driven solutions derived from its satellite constellation. Key revenue streams typically include: (1) Data and analytics subscriptions: recurring revenue from cus...
Spire Global Earnings Call Summary
Earnings Call Date:Nov 11, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted significant growth in core areas and strong government contracts, particularly in Europe and with NOAA. However, financial performance was negatively impacted by revenue declines due to the sale of the maritime business and timing issues related to government contracts, including the U.S. shutdown. The overall sentiment is tempered by these financial challenges despite positive operational achievements.Positive Updates
Triple-Digit Growth in Core Areas
Spire closed the third quarter with significant commercial and government contract wins, showcasing triple-digit growth in weather and security sectors.
Negative Updates
Revenue Decline
The GAAP revenue for Q3 2025 was $12.7 million, a decline primarily due to the absence of $11.5 million maritime revenue from Q3 2024.
Read all updates
Q3-2025 Updates
Positive
Negative
Triple-Digit Growth in Core Areas
Spire closed the third quarter with significant commercial and government contract wins, showcasing triple-digit growth in weather and security sectors.
Read all positive updates
Company Guidance
During the Spire Global Third Quarter 2025 Results Call, guidance for the upcoming year was provided with a focus on anticipated growth and operational adjustments. The company expects revenue for 2025 to range between $70.5 million and $72.5 million, with a projected fourth-quarter revenue of $14.8 million to $16.8 million. Spire also aims for a significant revenue growth exceeding 30% in 2026, supported by a backlog of over $200 million in remaining performance obligations, of which $70 million is expected to be recognized as revenue in 2026. The company is targeting adjusted EBITDA and operating cash flow breakeven to positive by no later than Q4 2026. Additionally, Spire's satellite manufacturing ramp-up has doubled throughput annually, and the company plans to launch more satellites at an average cadence of every three months in 2026. Despite revenue timing issues due to government delays, Spire remains confident in its growth trajectory, driven by a strong pipeline and strategic partnerships.Spire Global Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
32
Negative
Cash Flow
16
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 71.55M | 110.45M | 97.61M | 70.77M | 43.38M |
| Gross Profit | 29.16M | 39.89M | 38.59M | 17.14M | 24.66M |
| EBITDA | -74.45M | -55.73M | -37.51M | -64.09M | -17.67M |
| Net Income | 51.30M | -102.82M | -77.56M | -99.01M | -38.09M |
Balance Sheet | |||||
| Total Assets | 210.99M | 193.57M | 239.26M | 255.99M | 304.27M |
| Cash, Cash Equivalents and Short-Term Investments | 81.78M | 19.21M | 40.86M | 70.28M | 109.26M |
| Total Debt | 13.40M | 111.41M | 130.70M | 111.62M | 51.12M |
| Total Liabilities | 98.06M | 205.26M | 201.48M | 164.85M | 114.06M |
| Stockholders Equity | 112.93M | -11.69M | 37.78M | 91.13M | 190.21M |
Cash Flow | |||||
| Free Cash Flow | -92.61B | -45.03M | -53.66M | -66.73M | -73.57M |
| Operating Cash Flow | -59.83B | -18.45M | -36.31M | -47.82M | -57.99M |
| Investing Cash Flow | 151.19M | -14.23M | -4.97M | -41.83M | -119.48M |
| Financing Cash Flow | -74.90M | 19.00M | 23.91M | 26.37M | 270.53M |
Spire Global Technical Analysis
Positive
15.91
Price Trends
10.93
Positive
9.88
Positive
10.31
Positive
Market Momentum
1.01
Negative
74.08
Negative
63.58
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 15.91 is above the 20-day moving average (MA) of 11.92, above the 50-day MA of 10.93, and above the 200-day MA of 10.31, indicating a bullish trend. The MACD of 1.01 indicates Negative momentum. The RSI at 74.08 is Negative, neither overbought nor oversold. The STOCH value of 63.58 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $573.26M | 16.40 | 14.61% | 2.98% | -4.96% | 39.42% | |
71 Outperform | $482.38M | 16.61 | 4.02% | ― | 71.28% | -89.20% | |
66 Neutral | $1.01B | 115.09 | 8.17% | ― | 7.17% | -5.86% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $1.10B | -5.94 | -16.48% | ― | -0.67% | -141.58% | |
51 Neutral | $557.03M | 4,518.60 | -9999.00% | ― | -31.51% | ― | |
41 Neutral | $50.64M | >-0.01 | 269.38% | ― | -41.55% | -249.30% |
* Industrials Sector Average
SPIR
Spire Global
15.91
8.43
112.70%
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Spire Global Corporate Events
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.