Spire Global Q2 2022

In Q2 2022, operator Spire Global reported:

• Guidance-beating revenue growth: Revenue increased 113% year-over-year to $19.4 million. This topped the high end of the company’s guidance of $19.2 million.
• Growth was driven by increased adoption by existing customers and new customer additions, including a new contract with a Fortune 100 company to provide insights on ocean vessels, Spire’s largest numerical weather prediction deal to date. The company also received a $6 million contract extension with NASA for Earth observation data.
• Spire ended the quarter with 692 annual recurring revenue solution customers, a net increase of 65 customers for the quarter — 27 customers over the high end of its Q2 guidance range.
• Second quarter GAAP operating loss was $16.4 million. Spire expects positive cash flow in 19 to 25 months.
• Q3 guidance: Between $19.5 million to $20.5 million, and between 710 to 720 annual recurring revenue customers.