Spire Q1 2022 Earnings Report
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.