Quarterly ResultMay 14, 2026, 06:47 AM
Spire Global Q1 Revenue Down 34% to $15.8M; $42.3M Contract Terminated
AI Summary
Spire Global, Inc. reported a significant decrease in Q1 2026 revenue, falling 34% to $15.8 million, and an increased net loss of $(25.8) million. The company also disclosed a material subsequent event: the termination of a customer contract on April 23, 2026, which will result in $42.3 million of previously expected future revenue not being recognized. To address liquidity, Spire Global completed a private placement in April 2026, raising approximately $65.5 million in net proceeds. Net cash used in operating activities increased substantially to $(26.2) million.
Key Highlights
- Q1 2026 revenue decreased 34% to $15.8 million from $23.9 million year-over-year.
- Net loss for Q1 2026 increased to $(25.8) million, compared to $(23.5) million in Q1 2025.
- Basic and diluted net loss per share improved to $(0.78) from $(0.88) year-over-year.
- Net cash used in operating activities rose to $(26.2) million in Q1 2026.
- A customer contract termination in April 2026 will result in $42.3 million of future revenue not being recognized.
- Spire Global completed a private placement in April 2026, raising $65.5 million in net proceeds.
- Subscription revenue was $13.2 million (83%) and non-subscription revenue $2.6 million (17%) in Q1 2026.