Spire is building out its space reconnaissance portfolio. Photo: Spire

After divesting its maritime business and paying down its debt in 2025, Spire Global has set a large revenue growth target for 2026 of 50%, CEO Theresa Condor told investors on Thursday. 

Condor called 2025 a “transformational year” for Spire, as it closed the acquisition of its maritime business and used the proceeds to pay down its debt. Excluding the impact of the maritime divestiture, Spire delivered 44% year-over-year revenue growth in the fourth quarter.

“With the completion of the maritime divestiture, we retired all outstanding debt, something very rare for a space company and strengthened our balance sheet. More importantly, we reshaped the company,” Condor told investors. “Post divestiture, Spire is a pure-play space intelligence platform with a fundamentally different growth profile and end market composition than the company investors knew 12 months ago.” 

Condor described Spire as at the intersection of three growth trends: the expansion of defense and intelligence spending on commercial space capabilities; the modernization of global weather and climate infrastructure through commercial data; and the adoption of AI-driven analytics. 

She believes that defense and space reconnaissance, anchored by the company’s radio frequency geolocation (RFGL) product, is the biggest near-term opportunity for growth. 

Condor said that RFGL capacity at Spire will increase approximately 15 times over the next 12 months, which will allow the company to move into large-scale operational deployments with government customers and “ultimately to sovereign constellation opportunities.” 

Overall, Spire reported $71.6 million in revenue for 2025, down 35% year-over-year due to the maritime divestiture. The maritime business contributed just under $21 million in revenue in 2025. The divestiture closed in late April. 

Looking to 2026, the company expects full-year revenue in the range of $75 million to $85 million. The 50% growth projection is for Spire’s existing business, excluding the impact of the maritime divestiture. 

“This is not a company that is hoping for growth. This is a company that has built the platform, demonstrated the capabilities and is now entering the phase where the market demand is catching up to the infrastructure we have deployed,” Condor added.