Spire Global Q1 2022

In Q1 2022, operator Spire Global reported:

• Revenue of $18.1 million – an 86% increase from the same period last year — which topped the high end of guidance of $17.5 million.
• Spire had 627 annual recurring revenue (ARR) customers under contract, a net increase of 29 customers from the end of the prior quarter.
• The company added six satellites to its constellation during the quarter, and its constellation now totals 150 satellites.
• CEO Peter Platzer said that new sales and marketing hires during the quarter enabled the company to begin focusing on sales in Central America and the Middle East.
• For Q2, Spire is projecting between $18.2 million to $19.2 million in revenue, and between 655 and 665 ARR customers.
• The company maintained its FY 2022 revenue guidance between $85 million to $90 million.