VIENNA, Va.--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) ("Spire†or "the Company†), a global provider of space-based data, analytics and space services, announced that Deloitte has contracted with them to design, build and operate eight satellites. These satellites will support Deloitte's on- orbit cyber payloads, as well as its space data capabilities for commercial and government clients. The mission consists of eight satellites with advanced radio frequency and geolocation payloads, as. ...

Core Insights - Spire Global, Inc. successfully launched eleven satellites aboard SpaceX's Transporter-15 mission from Vandenberg Space Force Base [1] - The launch included satellites for Spire's Space Services customers and three replenishment satellites [1] - The replenishment satellites enhance the Company's fully deployed, dual-use constellation [1]

Core Insights - Spire Global, Inc. has successfully completed environmental testing, calibration, and flight qualification of its Hyperspectral Microwave Sounder (HyMS) payload [1] - The HyMS sensor has been fully integrated into a Spire 16U satellite and is set to launch aboard SpaceX's Falcon 9 Twilight mission from Vandenberg Space Force Base [1] Company Developments - The successful completion of testing and qualification marks a significant milestone for Spire Global in advancing its space-based data and analytics capabilities [1] - The integration of the HyMS sensor into the satellite demonstrates the company's commitment to enhancing its technological offerings in the space services sector [1]

Core Viewpoint - Spirit Blockchain Capital Inc. is focused on developing and commercializing blockchain-based financial infrastructure, emphasizing regulated digital-asset participation and technology solutions [2][4][7] Current Business of the Company - Spirit operates a digital asset/tokenization platform called SpiritLinQ, which facilitates the creation, issuance, and management of tokenized assets [2][6] - The company provides strategic support for European digital-asset exchange-traded products (ETPs) and is involved in infrastructure support for these products [2][4] - Spirit's business model includes licensing and technology fees, processing fees, and infrastructure service retainers, although it is currently not profitable [3][4] Revenue Model - The revenue model encompasses platform licensing and administration fees, processing/spread/FX fees, and enterprise software services [3][6] - The company aims to generate recurring revenue from its technology licensing and infrastructure support services [7] Strategic Operating Subsidiaries - Spirit operates various subsidiaries that enhance its infrastructure strategy, including software operations and validator services [2][4] - The company is not classified as an investment company or fund under Canadian securities laws, focusing instead on operational activities [4][7] Evolution of Business Strategy - The company's current operating model builds on its previous business lines, transitioning towards recurring technology and infrastructure revenues [5][6] - Spirit's treasury and staking activities, primarily in Bitcoin and Ethereum, are incidental to its main technology business [6]

Vancouver, British Columbia, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Spirit Blockchain Capital Inc. (CSE: SPIR) (“Spirit” or the “Company”) is providing this corporate update to describe the Company’s current operating business and its execution of the business model and disclosures set out in the Company’s non-offering long form prospectus dated August 8, 2022 (the “Prospectus”). The Prospectus was filed to qualify Spirit as a reporting issuer in British Columbia and Ontario and in connection with the Company’s ...

Core Insights - Spire Global, Inc. has appointed Shawn Mechelke as the new General Manager of Weather & Climate, effective November 17, 2025 [1] - Mechelke will be responsible for leading the go-to-market and sales strategy, product roadmap, and global delivery of Spire's weather and climate solutions [1] - The Weather & Climate team, which includes meteorologists and data scientists, will report to Mechelke [1]

Core Viewpoint - Spire Global (SPIR) is recognized for its growing satellite services business, with a consistent recommendation of a Buy rating despite stock volatility in 2025 [1]. Company Summary - The stock has experienced fluctuations in 2025, indicating a dynamic market environment [1]. - The analysis is based on value investing principles, focusing on a long-term investment perspective [1]. Analyst Position - The analyst holds a beneficial long position in SPIR, indicating confidence in the stock's future performance [2]. - The article reflects the analyst's personal opinions and is not influenced by external compensation [2].

Financial Performance - Annual Recurring Revenue (ARR) decreased by 31% to $77.4 million as of June 30, 2025, down from $111.9 million in 2024 [161]. - The number of ARR Customers dropped by 76% to 160 as of June 30, 2025, compared to 663 in 2024 [165]. - The number of ARR Solution Customers also decreased by 76% to 170 as of June 30, 2025, down from 702 in 2024 [165]. - Total revenue for the three months ended June 30, 2025, was $19.182 million, a decrease of 24% compared to $25.399 million in the same period of 2024 [184][185]. - Total revenue decreased by $17.2 million, or 29%, for the six months ended June 30, 2025, primarily due to the sale of the maritime business [187]. - Subscription-based revenue was $14.6 million, or 76% of total revenue, for the three months ended June 30, 2025, down from $19.7 million, or 78%, for the same period in 2024 [186]. - The company's ARR Net Retention Rate decreased to 83% for the three months ended June 30, 2025, down from 85% in the same period of 2024, primarily due to decreased value from NOAA's radio occultation technology weather award [167][168]. - For the three months ended June 30, 2025, the net income was $119.6 million compared to a net loss of $16.6 million for the same period in 2024 [239]. Expenses and Costs - Gross profit for the three months ended June 30, 2025, was $9.376 million, compared to $10.911 million for the same period in 2024 [183]. - Research and Development expenses increased to $10.195 million for the three months ended June 30, 2025, from $7.517 million in the same period of 2024 [183]. - Operating expenses totaled $32.903 million for the three months ended June 30, 2025, compared to $23.263 million in the same period of 2024 [183]. - General and administrative expenses rose by $7.2 million, or 72%, for the three months ended June 30, 2025, largely due to increased stock-based compensation and professional services expenses [205]. - Sales and marketing expenses decreased by $0.8 million, or 15%, for the three months ended June 30, 2025, primarily due to a reduction in personnel costs [201]. - The company incurred $6.2 million in stock-based compensation expenses for the three months ended June 30, 2025 [239]. Business Transactions - The sale of the maritime business was completed for approximately $238.9 million, reflecting an increase in the purchase price due to contributions toward a settlement [145]. - The gain on the sale of the maritime business was $154.305 million, contributing significantly to the income before income taxes [183]. - The company completed the sale of its maritime business for approximately $238.9 million on April 25, 2025 [247]. - Gain on sale of a business was $154.3 million for the three months ended June 30, 2025, with no comparable amount for the same period in 2024 [215]. Cash Flow and Investments - As of June 30, 2025, cash and cash equivalents totaled $117.6 million, a significant increase from $19.2 million as of December 31, 2024 [244]. - Net cash used in operating activities for the six months ended June 30, 2025, was $43.5 million, compared to $13.2 million for the same period in 2024 [256]. - Net cash provided by investing activities was $145.3 million for the six months ended June 30, 2025, driven by proceeds from the sale of the maritime business of $238.9 million [261]. - Net cash used in financing activities was $76.2 million for the six months ended June 30, 2025, primarily due to payments on long-term debt of $105.7 million [264]. Market and Economic Conditions - The impact of the macroeconomic environment has led to longer sales cycles and customer re-evaluations of purchasing decisions [150]. - Inflationary factors have not had a substantial impact on the company's results of operations for the three and six months ended June 30, 2025 [274]. Future Outlook - The company plans to continue investing in growth, including adding headcount to sales and marketing teams [157]. - The company expects research and development expenses to increase in absolute dollars in future periods, but decrease as a percentage of revenue as revenue growth exceeds R&D spending increases [199]. - The company anticipates that general and administrative expenses will grow in absolute dollars in future periods, but decrease as a percentage of revenue as revenue growth outpaces administrative spending increases [207]. - The company will lose its "emerging growth company" status beginning with the Annual Report for the year ending December 31, 2025 [270]. Other Financial Metrics - Interest income for the three months ended June 30, 2025, was $646,000, compared to $571,000 in the same period of 2024 [183]. - Interest income increased by $0.1 million, or 13%, for the three months ended June 30, 2025, primarily due to higher average balances held in marketable securities [214]. - Interest expense decreased by $3.1 million, or 65%, for the three months ended June 30, 2025, primarily due to the payoff of the Blue Torch loan [214]. - Foreign exchange gain was $7.0 million for the three months ended June 30, 2025, compared to a loss of $0.5 million for the same period in 2024, a change of 1,458% [220]. - Income tax provision increased to $1.8 million for the three months ended June 30, 2025, compared to $67,000 for the same period in 2024, a change of 2,588% [230]. - Adjusted EBITDA for the six months ended June 30, 2025, was a loss of $18.1 million, compared to a loss of $2.4 million for the same period in 2024 [239].

Financial Performance - Revenue for Q2 2025 was $19.2 million, achieving the midpoint of Spire's guidance range and exceeding the upper end of the preliminary revenue range[7] - Revenue for Q2 2025 was $19,182,000, a decrease of 24.5% compared to $25,399,000 in Q2 2024[24] - Net income reported was $119.6 million, with adjusted EBITDA at negative $10.2 million[7] - Net income for the first half of 2025 was $96,075,000, compared to a net loss of $42,103,000 in the first half of 2024[27] - The company reported a gain on the sale of a business amounting to $154,305,000 in Q2 2025[24] - Comprehensive income for the first half of 2025 was $100,842,000, compared to a comprehensive loss of $44,394,000 in the same period of 2024[25] - Net income (GAAP) for Q2 2025 was $119,590,000, a recovery from a loss of $16,559,000 in Q2 2024[29] - Non-GAAP net income (loss) for Q2 2025 was $(15,219,000), compared to $(10,254,000) in Q2 2024[29] Expenses and Liabilities - GAAP operating loss was $23.5 million, while non-GAAP operating loss was $12.4 million[7] - Gross profit for the first half of 2025 was $18,088,000, down from $20,140,000 in the same period of 2024, representing a decline of 10.2%[24] - Research and development expenses increased to $10,195,000 in Q2 2025, up 35.5% from $7,517,000 in Q2 2024[24] - Research and development expenses (GAAP) increased to $10,195,000 in Q2 2025 from $7,517,000 in Q2 2024, an increase of 35.4%[28] - Total liabilities decreased to $90,296,000 as of June 30, 2025, down from $205,262,000 at the end of 2024[26] Cash and Assets - Cash, cash equivalents, and marketable securities amounted to $117.6 million as of June 30, 2025, with 32.7 million shares outstanding[7] - Cash and cash equivalents rose to $36,114,000 from $19,206,000, marking an increase of 88.4%[26] - Total assets increased to $239,530,000 as of June 30, 2025, compared to $193,575,000 at the end of 2024, reflecting a growth of 23.7%[26] Operational Insights - Spire utilizes various non-GAAP financial measures to provide insights into its operational performance, including free cash flow and adjusted EBITDA[6] - The company excludes certain items from its non-GAAP measures, such as stock-based compensation and foreign exchange gains/losses, to better reflect ongoing operational results[9][11] - The company reported a gross margin (Non-GAAP) of 52% in Q2 2025, up from 47% in Q2 2024[29] - Operating margin (GAAP) for Q2 2025 was (123)%, compared to (49)% in Q2 2024, indicating a significant decline[29] - EBITDA for Q2 2025 was $124,955,000, compared to a loss of $6,638,000 in Q2 2024[30] - Free cash flow for the first half of 2025 was $(56,011,000), worsening from $(25,824,000) in the first half of 2024[30] Future Outlook - Spire plans to provide third quarter 2025 financial highlights and full year 2025 guidance in early December 2025[4] - The company will participate in the 16th Annual Craig-Hallum Alpha Select Conference on November 18, 2025, and the Deutsche Bank Global Space Summit on November 19, 2025[5] Satellite Operations - Spire's satellite constellation provides real-time data for global weather intelligence, ship and plane movements, and other critical insights[23]

Core Viewpoint - Spire Global, Inc. reported its financial results for the second quarter of 2025, highlighting a revenue of $19.2 million, which aligns with the company's guidance and exceeds previous estimates [1] Financial Performance - Revenue for the second quarter of 2025 reached $19.2 million, achieving the midpoint of Spire's guidance range [1] - The reported revenue is above the upper end of the preliminary, unaudited revenue range previously disclosed by the company [1] - Remaining performance obligations that have not yet been recognized were also mentioned, indicating potential future revenue [1]