Spire (US:SPIR)2025-05-14 20:08Revenue Performance - First quarter 2025 revenue was $23.9 million, a decrease from $34.8 million in the first quarter of 2024, which included a one-time performance obligation of $9.6 million[5][6] - Revenue distribution for Q1 2025: 57% from the Americas, 34% from Europe, Middle East, Africa, and 9% from Asia Pacific[5] - Revenue for Q1 2025 was $23.876 million, a decrease of 31.5% compared to $34.825 million in Q1 2024[27] - For Q2 2025, Spire expects revenue to range between $18.0 million and $20.0 million, and for the full year 2025, revenue guidance is set between $85.0 million and $95.0 million[8] - Full Year 2025 revenue is forecasted to be between $85,000,000 and $95,000,000, with a GAAP loss from operations estimated between $(76,000,000) and $(68,000,000)[35] Financial Metrics - Cash flows used in operations for Q1 2025 were $8.4 million, reflecting a 5% improvement year-over-year[5][6] - Net loss for Q1 2025 was $20.657 million, an improvement from a net loss of $25.544 million in Q1 2024, resulting in a basic and diluted net loss per share of $0.77[27][30] - The company reported a comprehensive loss of $23.332 million for Q1 2025, compared to a comprehensive loss of $27.106 million in Q1 2024[28] - Non-GAAP operating loss for Q2 2025 is expected to be between $(13.0) million and $(11.0) million, with a full year guidance of $(43.0) million to $(35.0) million[8] - Net loss per share (GAAP) for Q2 2025 is projected to be between $(0.96) and $(0.90), while Non-GAAP Net loss per share is expected to range from $(0.49) to $(0.42)[34] Expenses and Liabilities - Total operating expenses increased to $34.214 million in Q1 2025, up from $21.217 million in Q1 2024, primarily due to higher research and development costs[27] - Research and development expenses rose to $8.509 million in Q1 2025, compared to $6.037 million in Q1 2024, indicating a focus on innovation[31] - The total liabilities decreased to $203.291 million as of March 31, 2025, from $205.262 million at the end of 2024[29] Cash and Assets - As of April 2025, Spire eliminated all debt and reported cash, cash equivalents, and marketable securities of $136 million, expecting to finish the year with over $100 million[5] - Cash and cash equivalents increased to $35.931 million as of March 31, 2025, compared to $19.206 million at the end of 2024[29] - Total assets grew to $208.846 million as of March 31, 2025, up from $193.575 million at the end of 2024[29] Contracts and Innovations - Spire was awarded its largest contract to date, a Can$72 million contract from the Government of Canada to develop a satellite constellation for wildfire monitoring[6] - The company launched two advanced AI weather models, AI-WX and AI-S2S, providing probabilistic forecasts based on extensive satellite data[7] - Spire plans to launch an additional satellite with optical inter-satellite link technology by the end of 2025, enhancing data transmission capabilities[6] - The company continues to see demand for space reconnaissance insights, securing a contract for daily radio frequency collection and geolocation of signals[6] Stock and Share Information - Weighted-average shares used in computing basic and diluted net loss per share increased to 31,199,436 in Q2 2025 from 26,787,097 in Q1 2024[34] - The company reported a significant increase in stock-based compensation, totaling $3,887,000 in Q1 2024, up from $3,628,000 in Q1 2023[32]