Spire Q3 2023 Earnings Report
Key Takeaways
Spire Global announced a record quarterly revenue of $27.3 million, a 34% year-over-year increase. The company's GAAP gross margins increased to 65%, and they improved their GAAP operating loss to $11.0 million. Spire reaffirmed expectations for positive cash flow from operations by year end and increased revenue and earnings guidance.
Revenue increased 34% year-over-year to a record $27.3 million, exceeding the top end of expectations.
GAAP gross margin increased 15 percentage points year-over-year to 65%.
GAAP operating loss improved by 33% year-over-year to $11.0 million.
Net loss improved 18% year-over-year to $17.8 million.
Spire
Spire
Forward Guidance
Spire is improving full year midpoint guidance for revenue, non-GAAP operating loss, non-GAAP loss per share, and adjusted EBITDA loss.