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Jun 30, 2022
Spire Q2 2022 Earnings Report
Spire's Q2 2022 results were announced, demonstrating revenue growth and strategic execution.
Key Takeaways
Spire Global reported a strong second quarter in 2022, with revenue increasing by 113% year-over-year to $19.4 million. The company's annual recurring revenue (ARR) also saw significant growth, increasing by 133% year-over-year to $85.3 million. Spire reaffirmed its guidance for annual recurring revenue and positive free cash flow timing.
Revenue increased 113% year-over-year to $19.4 million.
Annual recurring revenue increased 133% year-over-year to $85.3 million.
GAAP operating loss was $16.4 million.
Non-GAAP operating loss was $10.1 million, better than guidance by $1.9 million.
Forward Guidance
Spire is providing guidance for the third quarter ending September 30, 2022, and the full year ending December 31, 2022. This guidance assumes continued strength of the U.S. dollar in relation to foreign currencies, which creates a headwind to revenue growth.
Positive Outlook
- Q3 2022 revenue is expected to be between $19.5 million and $20.5 million.
- Full year 2022 revenue is expected to be between $80.0 million and $83.0 million.
- Q3 2022 annual recurring revenue (ARR) is expected to be between $90.3 million and $91.3 million.
- Full year 2022 ARR is expected to be between $101.0 million and $105.0 million.
- Q3 2022 non-GAAP operating loss is expected to be between $11.8 million and $10.8 million.
Challenges Ahead
- Full year 2022 non-GAAP operating loss is expected to be between $46.5 million and $43.5 million.
- Continued strength of the U.S. dollar creates a headwind to revenue growth.
- Q3 2022 non-GAAP loss per share is expected to be between $0.11 and $0.10.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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