Businesswire·2025-12-17 12:30Financial Performance - For the third quarter of 2025, Spire Global reported revenue of $12.7 million, a year-over-year decrease primarily due to the sale of its maritime business, which generated approximately $43.5 million in revenue in 2024 [2][5] - The operating loss for the third quarter was $21.1 million, with a non-GAAP operating loss of $13.9 million. The net loss for the quarter was $19.7 million, and adjusted EBITDA was negative $11.8 million, reflecting a decline in both metrics year-over-year [5][6] - Cash flow used in operations for the quarter was $12.0 million, with cash, cash equivalents, and marketable securities totaling $96.8 million as of September 30, 2025. The company maintains a debt-free balance sheet [5][6] Business Developments - Spire was awarded a $11.2 million contract from NOAA for GNSS radio occultation data, which will be integrated into weather models by NOAA, NASA, and the U.S. military [5] - The company has been selected by Deloitte to build eight additional satellites, enhancing its capabilities in on-orbit cyber and data operations [5] - Spire also secured a $2.5 million contract from NOAA for satellite weather data as part of a pilot study to improve ocean surface wind measurements [5] Future Outlook - Spire anticipates over 30% revenue growth in 2026 for the business remaining after the maritime divestiture. The company aims to achieve adjusted EBITDA and operating cash flow break-even by Q4 2026 [6][5] - The company is currently finalizing its 2026 budget, aligning its cost base with revenue expectations following the maritime business sale [6]