Loading...
•
Sep 30, 2021
Spire Q3 2021 Earnings Report
Spire's revenue increased by 33% year-over-year, and ARR grew by 51% year-over-year.
Key Takeaways
Spire Global, Inc. reported a revenue of $9.6 million for the third quarter of 2021, representing a 33% increase compared to the same period in 2020. The company's ARR grew by 51% year-over-year to $45.2 million. They signed a definitive agreement to acquire exactEarth and launched two new optical ISL satellites.
Revenue was $9.6 million, up 33% year-over-year.
ARR grew 51% year-over-year to $45.2 million.
Completed merger with NavSight Holdings, receiving $237 million in net proceeds.
Signed agreement to acquire exactEarth, expecting to add 150 new customers and meaningful ARR.
Spire
Spire
Forward Guidance
Spire is providing revenue guidance for its fiscal fourth quarter ending December 31, 2021, between $11.6 million and $13.6 million.
Positive Outlook
- Revenue between $11.6 million and $13.6 million
- Non-GAAP gross profit between $6.8 million and $8.8 million
- Non-GAAP operating loss between $15.9 million and $11.8 million
- EBITDA between negative $15.4 million and negative $12.4 million
- Adjusted EBITDA between negative $13.3 million and $10.3 million
Challenges Ahead
- Non-GAAP loss per share between negative $0.14 and $0.11 based on basic weighted average shares of approximately 133.7 million
- Higher than anticipated expenses associated with the NavSight merger
- Public company costs
- Decision to accelerate certain investments into technology and business growth
- Lowering guidance for non-GAAP gross profit, EBITDA and adjusted EBITDA