Spire Global Extends NOAA Contract, Signaling $150 Million Revenue Potential

Spire Global (NYSE:SPIR) secured a $3 million contract extension from the National Oceanic and Atmospheric Administration (NOAA).

The six-month extension for the Hyperspectral Microwave Sounder (HyMS) pilot program runs through March 2027.

The agreement generates approximately $500,000 in monthly revenue.

NOAA uses the data for weather forecasting and monitoring severe events like hurricanes.

Stifel reiterated a Buy rating and a $24.00 price target for the stock.

Analysts believe this is the first conversion from over $150 million in potential NOAA opportunities.