Spire Global (SPIR) AI Stock Analysis

• Market Cap: $304.33M
• Dividend Yield: N/A
• Average Volume (3M): 630.52K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.06
• Revenue Growth: -11.82%
• EPS Growth: -2.53%
• Country: US
• Employees: 434
• Sector: Industrials
• Sector Strength: 77
• Industry: Specialty Business Services
• EPS (TTM): N/A
• Shares Outstanding: 31,076,658
• 10 Day Avg. Volume: 798,730
• 30 Day Avg. Volume: 630,523
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $16.00
• Price Target Upside: 71.31% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 42 Neutral
• Price Target: $9.00 ▼(-3.64% Downside)

Spire Global's overall stock score is low due to significant financial challenges, bearish technical indicators, and poor valuation metrics. While the earnings call provided some positive future prospects, recent corporate events have added regulatory and operational risks, further impacting the stock's attractiveness.

Positive Factors

Contracts

The company received an 'eight figure,' five-year follow-on contract from an existing commercial Space Services customer, exemplifying the company’s successful performance.

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.

Satellite Launches

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

Negative Factors

Competition

The premium offering enhances Spire's ADS-B data service value proposition, positioning it as a cost-effective alternative to competitors that do not provide real-time data or AI-derived insights.

Financial Performance

Spire Global's focus on establishing new timelines for sustained positive EBITDA/FCF generation indicates challenges in meeting previous financial targets.

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 insights, leveraging a constellation of small satellites to deliver real-time data and predictive analytics for various industries. Operating within the aerospace and analytics sectors, the company's core services include weather forecasting, maritime data, and aircraft tracking, which support decision-making processes across industries such as shipping, aviation, and government.

How the Company Makes Money

Spire Global generates revenue through a subscription-based model, offering access to its comprehensive datasets and analytics services. The company's key revenue streams include selling data and analytics solutions to a diverse client base, including commercial enterprises, government agencies, and non-profit organizations. Additionally, Spire forms strategic partnerships and alliances to enhance its service offerings and expand its market reach. These partnerships often involve integrating Spire’s data into third-party platforms or collaborating on joint ventures, further contributing to its revenue. The company's unique value proposition lies in its ability to provide highly accurate, real-time data from its satellite network, which is critical for clients in making informed operational and strategic decisions.

Spire Global Financial Statement Overview

Summary

Spire Global faces significant financial challenges with high operational losses and leverage. The decline in revenue and negative profit margins highlight ongoing profitability issues. The balance sheet is strained with high debt levels, and cash flow remains negative, requiring strategic actions to improve financial health.

Income Statement

Spire Global's revenue growth has been consistent, with a TTM revenue of $99.5 million compared to $110.5 million in the previous annual period, reflecting a decline. However, net losses have expanded significantly, evidenced by a negative net profit margin of -98.4% for the TTM. Gross profit margin stood at 39.6% in the TTM, indicating some operational efficiency but overshadowed by high operating losses. EBIT and EBITDA margins are deeply negative, suggesting significant operational challenges.

Balance Sheet

The balance sheet exhibits high leverage with a debt-to-equity ratio of 19.65 as of TTM, indicating substantial reliance on debt financing. Stockholders' equity is low at $5.56 million, resulting in a weak equity ratio of 2.66%. Return on equity is negative due to substantial net losses, underlining financial instability and high risk.

Cash Flow

The cash flow statement shows negative operating and free cash flow, with a TTM free cash flow of -$46.45 million. The operating cash flow to net income ratio is negative, highlighting cash flow challenges. However, there has been a slight improvement in cash flow from financing activities, providing some liquidity buffer.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	99.50M	110.45M	105.70M	70.77M	43.38M	28.49M
Gross Profit	39.45M	39.89M	38.59M	39.94M	24.66M	18.20M
EBITDA	-74.47M	-55.73M	-23.69M	-54.45M	-17.00M	-19.92M
Net Income	-97.93M	-102.82M	-63.96M	-89.41M	-38.09M	-32.50M
Balance Sheet
Total Assets	208.85M	193.57M	239.26M	256.51M	290.19M	44.42M
Cash, Cash Equivalents and Short-Term Investments	35.93M	19.21M	40.86M	70.28M	109.26M	15.57M
Total Debt	109.13M	111.41M	130.70M	111.62M	51.12M	75.28M
Total Liabilities	203.29M	205.26M	201.48M	146.39M	101.33M	93.16M
Stockholders Equity	5.55M	-11.69M	37.78M	110.12M	190.21M	-48.74M
Cash Flow
Free Cash Flow	-46.45M	-45.03M	-53.66M	-66.73M	-73.56M	-25.19M
Operating Cash Flow	-18.03M	-18.45M	-23.62M	-47.82M	-57.97M	-14.77M
Investing Cash Flow	-7.27M	-14.23M	-17.65M	-41.83M	-120.85M	-10.41M
Financing Cash Flow	18.79M	19.00M	23.91M	26.37M	270.53M	16.62M

Spire Global Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPIR, the sentiment is Negative. The current price of 9.34 is below the 20-day moving average (MA) of 9.69, below the 50-day MA of 10.63, and below the 200-day MA of 11.88, indicating a bearish trend. The MACD of -0.50 indicates Positive momentum. The RSI at 43.93 is Neutral, neither overbought nor oversold. The STOCH value of 16.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SPIR.

Spire Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LZ	76 Outperform	$1.98B	67.40	22.58%	―	4.19%	48.69%
Sector *	65 Neutral	$2.64B	15.34	15.18%	3.66%	0.27%	26.17%
CBZ	65 Neutral	$3.59B	38.39	7.84%	―	46.49%	-25.62%
FA	53 Neutral	$2.98B	549.40	-13.57%	―	65.34%	-633.72%
ACTG	50 Neutral	$322.13M	7.73	-1.17%	―	62.44%	-109.84%
KODK	44 Neutral	$496.62M	14.12	1.14%	―	-2.17%	-112.27%
SPIR	42 Neutral	$304.33M	―	-337.63%	―	-11.82%	-2.53%

Spire Global Corporate Events

Spire Global Faces NYSE Non-Compliance Notice

On August 20, 2025, Spire Global received a notice from the New York Stock Exchange for non-compliance with listing standards due to a delay in filing its Quarterly Report for the quarter ending June 30, 2025. The company has until February 19, 2026, to file the report and regain compliance, and is actively working towards completing the filing within the NYSE’s six-month extension period.

Spire Global Delays Financial Statement Filing Post-Sale

Spire Global has announced a delay in filing its quarterly financial statements for the periods ending June 30, 2025, due to additional accounting activities required following the sale of its maritime business to Kpler Holding SA. This delay may impact the company’s operations and stakeholder expectations, as the company is also searching for a new independent registered public accounting firm, which adds to the uncertainty surrounding its financial reporting.

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.