Why it matters: Spire's earnings release shows the satellite data company growing again after leaving its maritime business, with two new NOAA weather contracts, though it is still posting quarterly losses of about $20 million.
Spire Global (SPIR), which runs a fleet of small satellites that collect weather and radio-signal data, said on Nov. 10, 2026 that third-quarter revenue rose 42% from a year earlier to $18.0 million, according to its earnings release filed with the SEC.
Excluding its maritime business, which brought in $2.5 million a year earlier and nothing this quarter, Spire said revenue grew 77%. The company said the gain came mainly from more data deliveries in its space services business and higher sales of weather data from its microwave sounding satellites.
Spire posted a net loss of $20.3 million, or 52 cents a share, compared with a loss of $19.7 million, or 61 cents a share, a year earlier. Gross margin widened to 46% from 37%. Cash used in operations fell to $5.0 million from $12.0 million a year earlier and from $23.4 million in the second quarter. The company ended September with $78.0 million in cash, cash equivalents and marketable securities and no debt, and said it had $175.4 million of contracted work not yet recognized as revenue.
During the quarter, Spire said, the National Oceanic and Atmospheric Administration awarded it a $33.2 million task order to supply satellite radio occultation weather data from December 2026 to December 2028, with options that could raise the total to about $66 million, and a separate two-year, $28 million contract to build and qualify a satellite carrying a hyperspectral microwave sounder for weather forecasting. In October, the first three satellites built at its factory in Boulder, Colorado, went into orbit, the company said.
"These multi-year awards give us greater revenue visibility into 2027 and beyond," CEO Theresa Condor said in the release.
Spire said it expects full-year 2026 revenue of $75 million to $80 million and gave a preliminary 2027 revenue range of $96 million to $106 million, according to the Form 8-K and its attached release.
Not investment advice.
Sources
- Spire Global: third-quarter 2026 results, Form 8-K Exhibit 99.1, SEC EDGAR, Nov. 10, 2026
- Spire Global: Form 8-K (Item 2.02), SEC EDGAR, Nov. 10, 2026
How we checked this: We read Spire Global's third-quarter 2026 earnings release and the Form 8-K it was furnished with, both filed with the SEC on Nov. 10, 2026 and saved at about 8:34 AM ET on Nov. 11, and checked every figure against the release text and tables. The photo was checked against its Wikimedia Commons file page.
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