Spire Global reported second quarter 2026 revenue of $18.0 million, slightly missing analyst estimates of $18.53 million, largely due to the divestiture of its maritime business in April 2025. Excluding maritime operations, revenue increased 16% year-over-year, driven by higher delivery of space services and radio-frequency geolocation data. The company reported a GAAP loss per share of $0.52, wider than the anticipated $0.37 loss, while management reaffirmed its full-year 2026 revenue guidance range of $75 million to $85 million.
Key Highlights
- Core revenue excluding the divested maritime business rose 16% year-over-year and 19% sequentially.
- GAAP gross margin contracted 16 percentage points to 34%, primarily due to the cancellation of the WildFireSat contract.
- Operating cash flow usage improved 32% year-over-year to $23.4 million as the company maintained a debt-free balance sheet.
- Technological milestones included a successful cross-plane laser connection between two satellites over a 5,000-kilometer distance.