Spire Global Achieves Financial Milestone; Provides Update on Revenue Recognition Review and Restatement
Spire Global, Inc. Class A (SPIR)
US:NASDAQ Investor Relations:
spireenergy.com/investors
Company Research
Source: Business Wire
VIENNA, Va.--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) (“Spire” or the “Company”) announces a milestone for new contract bookings in the third quarter and provides an update on the ongoing review of its accounting practices.During the third quarter, the Company brought in $40.0 million of new contracts. This is the largest value of bookings the Company has received in a quarter.Spire entered the third quarter of 2024 with a cash and marketable securities balance of $45.8 million and ended the quarter with a balance of $36.6 million. During the quarter, Spire made a $10.0 million payment toward the outstanding principal balance of the term loans under the financing agreement with Blue Torch Finance LLC (“Blue Torch”).The Company has been making progress in its review of its accounting practices and procedures, which has focused on:revenue recognition related to certain Space Services contracts;the possible existence of embedded leases within certain Space Services contracts;
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- Spire Global, Inc. (NYSE: SPIR) had its price target raised by analysts at Canaccord Genuity Group Inc. from $12.00 to $18.00. They now have a "buy" rating on the stock.MarketBeat
- Spire Global, Inc. (NYSE: SPIR) had its price target raised by analysts at Alliance Global Partners from $17.00 to $24.00. They now have a "buy" rating on the stock.MarketBeat
- Spire Global, Inc. (NYSE: SPIR) had its price target raised by analysts at Robert W. Baird from $9.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
SPIR
Earnings
- 5/15/24 - Miss
SPIR
Sec Filings
- 11/22/24 - Form 4
- 11/22/24 - Form 4
- 11/22/24 - Form 4
- SPIR's page on the SEC website