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Mar 31, 2022
Spire Q1 2022 Earnings Report
Spire Global's first quarter was defined by strong execution, delivering results that exceeded expectations on the top and bottom line.
Key Takeaways
Spire Global announced strong Q1 2022 results with revenue increasing to $18.1 million, representing 86% year-over-year growth. The company's ARR reached $81.6 million, up 134% year-over-year. Spire also improved its full-year guidance by increasing the low end of its ARR range and lowering its operating loss.
Revenue increased 86% year over year to $18.1 million.
ARR was $81.6 million, up 134% year over year.
627 ARR solution customers under contract, a net increase of 29 customers from December 31, 2021.
GAAP operating loss was $20.0 million and Non-GAAP operating loss was $12.8 million.
Spire
Spire
Forward Guidance
Spire is providing revenue guidance for the second quarter ending June 30, 2022, between $18.2 - $19.2 million and for the full year ending December 31, 2022, between $85.0 - $90.0 million.
Positive Outlook
- Revenue is expected to be between $18.2 million and $19.2 million for Q2 2022.
- Year-over-year revenue growth is projected to be between 100% and 111% for Q2 2022.
- ARR is expected to be between $88.0 million and $89.0 million for Q2 2022.
- Year-over-year ARR growth is projected to be between 141% and 143% for Q2 2022.
- The company anticipates having between 655 and 665 ARR solution customers in Q2 2022.
Challenges Ahead
- Non-GAAP operating loss is expected to be between $13.0 million and $12.0 million for Q2 2022.
- Adjusted EBITDA is expected to be between -$9.9 million and -$8.9 million for Q2 2022.
- Non-GAAP loss per share is expected to be between $0.12 and $0.11 for Q2 2022.
- Revenue is expected to be between $85.0 million and $90.0 million for the full year 2022.
- ARR is expected to be between $101.0 million and $105.0 million for the full year 2022.