Spire Global (SPIR) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $18.0m, up 42% YoY reported and 77% excluding maritime; non-GAAP gross margin was 49% and Adjusted EBITDA loss was $8.6m.

• Multi-year NOAA awards lifted RPO to $175.4m; ~78% of preliminary FY2027 midpoint revenue was under contract at Q3 end.

Financial highlights

• Q3 revenue was $18.0m versus $12.7m a year earlier; nine-month revenue was $51.9m versus $55.7m, reflecting the maritime business sale.

• GAAP gross margin rose to 46% from 37%; non-GAAP gross margin reached 49%, up from 41% a year earlier.

• Adjusted EBITDA loss narrowed 27% YoY to $8.6m; operating cash use fell to $5.0m from $12.0m YoY and $23.4m in Q2.

• Q3 net loss was $20.3m versus $19.7m; operating loss narrowed to $20.2m from $21.1m.

Outlook and guidance

• FY2026 revenue guidance is $75m–$80m, including $3.4m maritime revenue; Adjusted EBITDA guidance is a loss of $32.4m–$27.4m.

• Q4 revenue guidance is $23m–$28m; Adjusted EBITDA guidance is a loss of $5m to break-even.

• Preliminary FY2027 revenue guidance is $96m–$106m, representing 30% midpoint growth versus FY2026; ~78% of midpoint revenue was contracted at Q3 end.

• Targets include positive full-year Adjusted EBITDA and quarterly operating cash flow in 2027; management aims for Adjusted EBITDA positivity as early as possible.

• TMATE work shifted from 2026 into 2027, lowering the FY2026 guidance ceiling; contract value was unchanged.