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$SPIR
|
10-Q
Nov 3, 6:20 PM ET
Spire Global, Inc. 10-Q
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Contents
71
Item 1. Unaudited Condensed Consolidated Financial Statements
Basis of Presentation
Revision of Previously Issued Financial Statements
Reclassifications
Certain prior year periods amounts have been reclassified to conform with the current year period's presentation. These reclassifications had no impact on previously reported net income (loss).
Liquidity Risks and Uncertainties
Use of Estimates
Cash, Cash Equivalents, Marketable Securities, and Restricted Cash
Concentrations of Credit Risk
Related Parties
Accounting Pronouncements Not Yet Adopted
Disaggregation of Revenue
Contract Assets
Contract Liabilities
Remaining Performance Obligations
Blue Torch Credit Agreement
Government Loan
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Financial Assets
Credit Agreement Warrants
Securities Purchase Agreement Warrants
On March 12, 2025, the Company entered into the 2025 Securities Purchase Agreement with the purchasers named therein for the 2025 Private Placement of (i) 4,843,750 shares of Class A common stock at a purchase price of $8.00 per share and (ii)
Pre-Funded Warrants to purchase 156,250 shares of Class A common stock at a purchase price of $7.9999 per Pre-Funded Warrant. The Pre-Funded Warrants had an exercise price of $0.0001 per share of Class A common stock, were exercisable immediately and remained outstanding until fully exercised. The Pre-Funded Warrants were initially recorded at fair value at issuance which equal to the proceeds received on March 14, 2025. The Pre-Funded Warrants were classified as liabilities because they contain provisions that could require settlement in cash under certain circumstances, resulting in the instruments not being considered indexed to the Company’s own stock. These Pre-Funded Warrants were measured at fair value at each reporting date, with changes in fair value recognized in the condensed consolidated statements of operations.
Contingent Earnout Liability
Cash, Cash Equivalents, and Marketable Securities
L3Harris Commitment
Litigation
Note Receivable
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Overview
Highlights from the Six Months Ended June 30, 2025
Macroeconomic and Geopolitical Impact
Key Factors Affecting Our Performance
Expansion of and Further Penetration of Our Customer Base
Expansion into New Industries and Geographies
Impact of the Solar Cycle on our Assets’ Remaining Life
Investment in Growth
Acquisitions
Key Business Metrics
Components of Results of Operations
Results of Operations
Other Income (Expense)
Income Tax Provision
Non-GAAP Financial Measures
Limitations on the Use of Non-GAAP Financial Measures
Liquidity and Capital Resources
Blue Torch Credit Agreement
Equity Distribution Agreement
Cash Flows
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Critical Accounting Policies and Estimates
Accounting Pronouncements Recently Adopted and Not Yet Adopted
Item 3. Quantitative and Qualitative Disclosures about Market Risk
Foreign Currency Exchange Risk
Interest Rate Sensitivity
Inflation Risk
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Material Weaknesses in Internal Control over Financial Reporting
Remediation Efforts on Material Weaknesses in Internal Control over Financial Reporting
Limitations on Effectiveness of Controls and Procedures
Changes in Internal Control over Financial Reporting
Item 1. Legal Proceedings.
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits