Quarterly ResultMay 13, 2026, 04:18 PM
Spire Global Q1 Revenue $15.8M, Net Loss $25.8M; Ex-Maritime Revenue +13%
AI Summary
Spire Global announced its first quarter 2026 financial results, reporting revenue of $15.8 million, which exceeded the high end of its guidance range. While total revenue decreased 34% year-over-year due to the maritime business divestment, revenue excluding maritime business grew 13% year-over-year. The company posted a net loss of $25.8 million and adjusted EBITDA of ($10.2) million, both above the high end of guidance, and also raised $70.0 million in April 2026 for working capital and growth initiatives. Spire also provided full-year 2026 guidance, expecting significant growth in ex-maritime revenue.
Key Highlights
- Q1 2026 revenue was $15.8 million, above guidance, down 34% year-over-year.
- Excluding the maritime business, Q1 2026 revenue increased 13% year-over-year.
- Q1 2026 net loss was $25.8 million, a 10% increase year-over-year.
- Q1 2026 adjusted EBITDA was ($10.2) million, above guidance, a 29% decline year-over-year.
- GAAP gross margin improved 4 percentage points year-over-year to 40%.
- Cash, cash equivalents, and marketable securities were $49.5 million as of March 31, 2026.
- Raised $70.0 million gross proceeds in April 2026 for working capital and growth.
- Full-year 2026 revenue (excluding maritime) guidance is $71.3M-$81.3M, expecting over 50% growth from 2025 at midpoint.