Spire Global

Spire Global reported Q2 2026 GAAP revenue of $18.0 million, down 6% year-over-year due to maritime business divestment in April 2025; excluding maritime, revenue grew 16% YoY and 19% sequentially, driven by higher space services data and radio-frequency geolocation (RFGL) purchases. Gross margin declined 16 percentage points YoY to 34% GAAP (38% non-GAAP), primarily from WildFireSat contract cancellation in Q2. Net loss was $20.0 million versus prior-year net income of $119.6 million, which included a $154.3 million gain on maritime business sale; adjusting for that gain and debt-loss, Q2 loss improved 12% YoY. Adjusted EBITDA was negative $8.6 million, improving 16% YoY. Cash used in operations was $23.4 million, down 32% YoY; cash position remains $91.7 million, debt-free. Operationally, Spire signed four new RFGL customers, launched 29 satellites year-to-date, and achieved its first cross-plane laser inter-satellite link demonstration in July. FY2026 guidance (reaffirmed) targets $75–85 million total revenue or $71.6–81.6 million excluding maritime, representing 42–61% YoY growth ex-maritime.