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Mar 31
Spire Q1 2025 Earnings Report
Spire Global reported a net loss in Q1 2025 despite improved operating cash flow and the elimination of all debt post-quarter.
Key Takeaways
Spire Global generated $23.9 million in revenue in Q1 2025 but reported a net loss of $20.7 million, reflecting higher operating expenses including a loss on decommissioned satellites. Despite the loss, the company improved operating cash flow by 5% year-over-year and eliminated all debt in April, ending the quarter with $136 million in liquidity. Spire remains focused on expanding its government contracts and AI-powered weather modeling capabilities.
Revenue for Q1 2025 was $23.9 million, with 57% from the Americas.
Net loss was $20.7 million, or $0.77 per share.
Cash, cash equivalents, and marketable securities stood at $136 million by end of April.
Free cash flow was negative $17.3 million, slightly higher than Q1 2024.
Spire
Spire
Forward Guidance
Spire expects FY 2025 revenue to range from $85M to $95M and is targeting year-end liquidity above $100M following recent debt elimination.
Positive Outlook
- Expecting FY25 revenue between $85M and $95M.
- Q2 revenue projected at $18M to $20M.
- Post-quarter debt retirement significantly strengthened balance sheet.
- Free cash flow improved 5% YoY in Q1.
- Strong government contracts signed, including a CA$72M wildfire monitoring deal.
Challenges Ahead
- Revenue declined YoY from $34.8M to $23.9M due to one-time item in prior year.
- Q1 net loss remained elevated at $20.7M.
- Operating loss expanded to $25.4M.
- Free cash flow still negative at $17.3M.
- Continued high operating expenses, including satellite decommissioning costs.