Spire (US:SPIR)2025-05-15 07:33Financial Performance & Guidance - Q1 2024 revenue reached $25.7 million, a 6% increase year-over-year[18] - Remaining Performance Obligations (RPO) for Q1 2024 were $195.7 million, up 19% from Q1 2023[18] - Annual Recurring Revenue (ARR) for Q1 2024 was $120.9 million, a 15% increase year-over-year[18] - The company anticipates Q2 2024 revenue between $29.0 million and $33.0 million and full year 2024 revenue between $122.0 million and $132.0 million, representing a 20% improvement over 2023 at the midpoint[11, 27] - The company anticipates a Non-GAAP operating loss between ($3.0) million and $1.0 million for Q2 2024 and between ($11.0) million and ($1.0) million for full year 2024, a $19.8 million improvement at the midpoint[11, 27] - The company anticipates adjusted EBITDA between $2.0 million and $5.0 million for Q2 2024 and between $7.0 million and $15.0 million for full year 2024, a $22.0 million improvement at the midpoint[11, 27] Operational Highlights - Spire operates the largest multi-purpose constellation[9] - The company processes over 10 terabytes of data per day to feed AI/ML models[10] - The company raised $40 million gross proceeds at an average price of $13.44 per share in Q1[11] Market Trends & Opportunities - Climate change and global security challenges are driving demand for the company's business[6] - Underwriters have raised premiums for ships transiting the Red Sea by as high as 50% for U S, British, and Israeli firms[12]