Spire Global reported third quarter 2026 revenue of $18.0 million, failing to meet the $20.64 million analyst consensus despite achieving a 42% year-over-year increase. The company posted a GAAP net loss of $20.3 million, or $0.52 per share, which was significantly wider than the $0.23 loss per share expected by markets.
Key Highlights
- Revenue growth was primarily fueled by Space Services data delivery and Hyperspectral Microwave Sensor soundings, with revenue excluding the maritime business up 77% year-over-year.
- Spire secured two major multi-year NOAA contracts during the quarter totaling approximately $61.2 million in potential value, increasing remaining performance obligations to $175.4 million.
- Operational efficiency improved as cash used in operations fell 59% year-over-year to $5.0 million, and the company maintained a debt-free balance sheet with $78.0 million in total liquidity.