Spire Global (SPIR 10.17%) reported preliminary Q2 2025 GAAP revenue of $18 million to $19 million, following the transformative sale of its maritime business and full elimination of company debt. Management reiterated full-year GAAP revenue guidance of $85 million to $95 million and a year-end balance of over $100 million in cash, cash equivalents, and marketable securities, highlighting a sharpened strategic focus on space services, advanced weather analytics, and government opportunities.
Debt-free balance sheet reshapes Spire Global’s trajectory
The strategic divestiture of the maritime segment in April enabled the company to transition to a debt-free capital structure, ending the quarter with $117.6 million in cash and marketable securities. The remaining business is focused on software- and data-driven solutions built atop a multipurpose satellite network, including an eight-figure, five-year space services award announced during the quarter.
"This quarter marked a transformative milestone in Spire Global, Inc.'s journey: the successful sale of our maritime business. This strategic transaction has fundamentally strengthened our financial foundation, eliminating debt entirely and establishing a robust balance sheet. With this significant chapter now behind us, our team at Spire Global, Inc. is channeling our collective energy towards what matters most: delivering exceptional operational performance, generating compelling financial results, and unlocking growth opportunities that will define our future."
-- Theresa Condor, CEO
The company’s improved balance sheet materially increases its strategic flexibility, reducing interest expense risk while positioning it to invest in long-cycle government and commercial opportunities requiring customer trust and financial durability.
Spire Global advances weather data technology and wins new customers
Recent milestones include the European Space Agency’s purchase of historical weather data, a NASA TAP order extension for radio occultation and reflectometry, a WildfireSat contract ramp, and the successful airborne test of Spire Global’s hyperspectral microwave sounder, with orbital deployment expected in early 2026. NOAA, the U.S. National Oceanic and Atmospheric Administration, may purchase up to 20,000 daily radio occultation profiles in future years, with step-up revenues slated to begin in late September.
"Spire Global, Inc. is making remarkable strides in developing its hyperspectral microwave sounder technology. These advanced sounders play a vital role in weather forecasting models because they can peer through clouds to gather crucial atmospheric data, something other instruments cannot do as reliably. Among all sources of weather data, microwave sounder observations consistently rank among the most impactful for improving forecast accuracy. Spire Global, Inc.'s hyperspectral microwave sounder enhances the vertical resolution of atmospheric profiles, enabling more precise measurements of temperature and water vapor from near the surface to the top of the atmosphere. We are pleased to share that our microwave sounder has successfully completed flight testing aboard an aircraft test bed, reaching an important milestone in its development. We are targeting the first launch of this sensor in orbit for early 2026. There is significant interest in this technology from government weather agencies, and Spire Global, Inc. plans to use this data to enhance our own AI and physics-based modeling capabilities."
-- Theresa Condor, CEO
The integration of next-generation weather sensors and expanded government contracts strengthens Spire Global’s competitive positioning in high-impact meteorological data markets, underpinning recurring revenue growth from diverse sources.
Strong sales pipeline and rising inbound demand drive outlook
Spire Global deployed 27 satellites in the first half, supporting management’s highlighted especially strong inbound demand for radio frequency geolocation (RFGL) and space reconnaissance services, with a robust and active pipeline, and expanded its leadership team to enhance U.S. and European defense market penetration.
"Not just talking about space services, but what we are doing on the space reconnaissance side. And what I would say is that it is kind of interesting in the current environment, we are having, you know, probably more inbound interest than I have seen in a long time at a company. You know, normally, you have your sales teams out there pushing hard, and we are in a current situation, in particular with RFGL, where we actually have people coming to us because we have a good product. We have something that can be used with customers worldwide, and we are in a very particular moment in time. I feel very positive about the pipeline that we have and that we felt strongly enough that we can keep the revenue range and, you know, really feel optimistic about 2026."
-- Theresa Condor, CEO
Demand pull from governments and national security actors suggests heightened revenue visibility and reduced customer acquisition risk in 2026 and beyond, particularly as NATO and allied spending targets increase to 5% of GDP by 2035.
Looking Ahead
For third quarter 2025, management guided for GAAP revenue of $19.5 million to $21.5 million and reiterated full-year GAAP revenue expectations of $85 million to $95 million, with a year-end cash balance projected above $100 million (cash, cash equivalents, and marketable securities). Space services, the WildfireSat contract, and NOAA radio occultation data are expected to drive revenue expansion in the second half, and the company targets at least 20% year-over-year revenue growth for next year following the maritime sale. Spire Global plans to provide further guidance and additional metrics following its upcoming 10-Q filing.
