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Spire (SPIR) - 2022 Q2 - Earnings Call Transcript
2022-08-11 03:20
Financial Data and Key Metrics Changes - Q2 revenue increased 113% year-over-year to $19.4 million, exceeding guidance of $19.2 million [44] - Annual Recurring Revenue (ARR) at quarter end was $85.3 million, up 133% year-over-year [44] - Operating margin improved to negative 52% from negative 124% a year ago [47] - Total adjusted EBITDA for Q2 was negative $7.3 million, which was $1.6 million better than guidance [49] Business Line Data and Key Metrics Changes - The company added 65 net new ARR solution customers in Q2, bringing the total to 692, a 243% increase year-over-year [45] - The weather market continues to be a significant long-term opportunity with an estimated near-term market size of $22 billion [28] - Space services accounted for roughly 25% of the business, with significant contracts expected to grow revenue substantially [26] Market Data and Key Metrics Changes - The macro environment has led to several million dollars of negative foreign exchange impact on 2022 revenue [13] - The company operates in approximately 60 countries, with efforts to secure more U.S. dollar contracts to mitigate FX risks [63] Company Strategy and Development Direction - The company is focused on four growth pillars: investing in sales, marketing, product expansion, and strategic acquisitions [40] - The company aims to be free cash flow positive in 19 to 25 months, emphasizing operational efficiencies and profitability [58] - Investments in technology and partnerships are expected to enhance capabilities in weather forecasting and data analytics [30][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's prospects despite a deteriorating macro environment, citing strong customer retention and interest in data solutions [9][10] - The company anticipates continued growth in ARR and revenue, with guidance reflecting ongoing investments and macroeconomic challenges [55][56] - Management highlighted the importance of regulatory support from the FCC to enhance U.S. competitiveness in the space sector [78] Other Important Information - The company secured a $120 million credit facility to strengthen its balance sheet and support growth initiatives [8][50] - The company plans to open a new office in Melbourne to enhance access to the APAC market [39] Q&A Session Summary Question: Guidance and outlook for the year - Management maintained ARR guidance despite lowering revenue expectations, attributing the change primarily to FX impacts [62] Question: FX exposure and hedging strategies - The company is focusing on securing more U.S. dollar contracts to mitigate FX risks, with no specific hedging strategies currently in place [63] Question: ARR guidance and sales pipeline - ARR guidance reflects adjustments for FX impacts, with confidence in the sales pipeline for the remainder of the year [66] Question: Path to positive cash flow - The company is focused on revenue growth, cost control, and investments in growth pillars to achieve positive cash flow [67] Question: Consolidation in the space industry - Management discussed the rationale behind industry consolidation, emphasizing cost and revenue synergies [74] Question: FCC's role in the space sector - The FCC is seen as crucial for enhancing U.S. competitiveness in the space industry through supportive regulations [78] Question: Seasonal factors affecting ARR growth - Management noted that the end of the calendar year typically sees a surge in opportunities, contributing to expected growth [87] Question: Customer consumption trends - Customers are increasingly looking for integrated data solutions, with Spire positioned as a primary data source due to its unique offerings [105]
Spire (SPIR) - 2022 Q2 - Quarterly Report
2022-08-09 16:00
For the quarterly period ended June 30, 2022 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One)the ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39493 SPIRE GLOBAL, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 85-1276957 ( State or other jurisdicti ...
Spire Global (SPIR) Presents at 2022 Baird Global Consumer, Technology & Services Conference
2022-06-10 19:59
Financial Performance & Guidance - Spire achieved Q1 2022 revenue of $17.5 million to $18.1 million, representing an 86% year-over-year (YoY) growth[17] - The company's Annual Recurring Revenue (ARR) for Q1 2022 reached $81.5 million to $81.6 million, a 134% increase YoY[17] - Spire projects FY2022 revenue to be $87.5 million at the mid-point, indicating a 102% YoY growth[18] - The company anticipates FY2022 ARR to reach $103.0 million, a 45% increase YoY[18] - Spire expects to have 730 ARR Solution Customers by the end of FY2022, a 22% increase YoY[18] - Non-GAAP Operating Loss Margin is expected to improve by 53.4 percentage points to 51.4% in FY2022[18] Business Overview & Strategy - Spire operates a constellation of over 100 satellites[7,10] - The company has over 625 ARR Solution Customers across 60+ countries[7] - Spire's services are categorized into Data Solutions, Maritime, Aviation, and Weather, with Total Addressable Markets (TAM) of $8 billion, $22 billion, $22 billion, and $39 billion respectively[11] - Spire focuses on four growth pillars: investing in sales, marketing, and product; expanding into new geographies and use cases; expanding data and analytics capabilities; and executing strategic acquisitions[26]
Spire (SPIR) - 2022 Q1 - Earnings Call Transcript
2022-05-12 01:39
Spire Global, Inc. (NYSE:SPIR) Q1 2022 Results Conference Call March 11, 2022 5:00 PM ET Company Participants Benjamin Hackman - Head of Investor Relations Peter Platzer - Chief Executive Officer Thomas Krywe - Chief Financial Officer Conference Call Participants Stefanos Crist - CJS Securities Erik Rasmussen - Stifel Ric Prentiss - Raymond James Elizabeth Grenfell - Bank of America Josh Sullivan - Benchmark Operator Greetings and Welcome to Spire Global First Quarter 2022 Conference Call. At this time, all ...
Spire (SPIR) - 2022 Q1 - Quarterly Report
2022-05-10 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One)the ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39493 SPIRE GLOBAL, INC. (Exact Name of Registrant as Specified in its Charter) ( State or other jurisdiction of incorporation ...
Spire (SPIR) - 2021 Q4 - Annual Report
2022-03-29 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39493 SPIRE GLOBAL, INC. (Exact name of Registrant as specified in its Charter) Indicate by check mark whether the Registrant: (1) ha ...
Spire Global (SPIR) Investor Presentation - Slideshow
2022-03-20 09:49
Investor Presentation March 2022 △spire DISCLAIMER AND FORWARD–LOOKING STATEMENTS 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future performance. In some cases, you can identify forward-looking statements because they contain words such as "will," "expect," "plan," "going to," "intend," "target," "project," "be ...
Spire (SPIR) - 2021 Q4 - Earnings Call Presentation
2022-03-10 16:22
Spire FY 2021 Results Snapshot △spire ~600 Customers1 58 Countries $70.8m $43.4m ARR2 Revenue 2 0 10 20 30 40 50 60 70 80 0 10 20 30 40 70.8m 50 36.2m 28.5m 43.4m 2020 2021 2020 2021 96% YoY Growth 52% YoY Growth 120 days Integration Mar 31 2022 Nov 30 2021 Key Achievements SPIR NYSE Grew and diversified business now serving more than 500 government and commercial customers Successfully completed merger with Navsight Holdings to become publicly traded on the NYSE under the ticker SPIR Expanded the impact of ...
Spire (SPIR) - 2021 Q4 - Earnings Call Transcript
2022-03-10 00:43
Spire Global, Inc. (NYSE:SPIR) Q4 2021 Earnings Conference Call March 9, 2022 5:00 PM ET Company Participants Hillary Yaffe - Head of Communications Peter Platzer - Chief Executive Officer, President and Director Tom Krywe - Chief Financial Officer Conference Call Participants Jeff Meuler - Robert W. Baird Erik Rasmussen - Stifel Josh Sullivan - The Benchmark Company Weston Twigg - Piper Sandler Ric Prentiss - Raymond James Disclaimer*: This transcript is designed to be used alongside the freely available a ...
Spire (SPIR) - 2021 Q3 - Earnings Call Transcript
2021-11-11 04:10
Spire Global, Inc. (NYSE:SPIR) Q3 2021 Earnings Conference Call November 10, 2021 5:00 PM ET Company Participants Hillary Yaffe – Head-Communications and Investor Relations Peter Platzer – Chief Executive Officer Tom Krywe – Chief Financial Officer Conference Call Participants Jeffrey Meuler – Baird Josh Sullivan – The Benchmark Company Weston Twigg – Piper Sandler Ric Prentiss – Raymond James Operator Please stand by. Good day ladies and gentlemen, and welcome to Spire Global Third Quarter 2021 Earnings C ...