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Stock impact report

Spire Global Achieves Financial Milestone; Provides Update on Revenue Recognition Review and Restatement [Yahoo! Finance]

Spire Global, Inc. Class A (SPIR) 
US:NASDAQ Investor Relations: spireenergy.com/investors
Company Research Source: Yahoo! Finance
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; and revenue recognition for certain research and development contracts. As previously disclosed, the Company det Show less Read more
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