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Jun 30, 2023
Spire Q2 2023 Earnings Report
Reported strong second quarter results with record revenue and improved margins.
Key Takeaways
Spire Global announced record quarterly revenue of $26.5 million, a 37% year-over-year increase. The company also improved GAAP gross margins to 64% and narrowed its GAAP operating loss to $11.0 million.
Achieved record quarterly revenue of $26.5 million, a 37% year-over-year increase.
Increased GAAP gross margins to 64%, a 13 percentage point year-over-year improvement.
Narrowed GAAP operating loss to $11.0 million, a 33% year-over-year improvement.
Improved net loss to $16.3 million, a 57% year-over-year improvement.
Spire
Spire
Forward Guidance
Spire is improving its margin expectations for the full fiscal year and projects positive cash from operations in the fourth quarter.
Positive Outlook
- Positive cash from operations in the fourth quarter
- Positive non-GAAP operating margins in the second quarter of 2024
- Positive adjusted EBITDA in the first or second quarter of 2024
- Positive free cash flow in the second or third quarter of 2024
- Improving full year guidance for non-GAAP operating loss, non-GAAP loss per share, adjusted EBITDA and midpoint for ARR solution customers