Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations

Disaggregation of Revenue

Revenue from subscription-based contracts was $14,572 and $34,082, or 76% and 79% of total revenue, for the three and six months ended June 30, 2025, respectively, and was $19,703 and $37,759, or 78% and 63% of total revenue, for the three and six months ended June 30, 2024, respectively. Revenue from non-subscription-based contracts was $4,610 and $8,976, or 24% and 21% of total revenue, for the three and six months ended June 30, 2025, respectively, and was $5,696 and $22,465, or 22% and 37% of total revenue, for the three and six months ended June 30, 2024, respectively.

The following revenue disaggregated by geography, derived from billing addresses, was recognized:


	Three Months Ended June 30, 2025				Six Months Ended June 30, 2025
Americas (1)	$	12,605	66	%	$	26,164	61	%
EMEA(2)		5,987	31	%		14,204	33	%
Asia Pacific		590	3	%		2,690	6	%
Total	$	19,182	100	%	$	43,058	100	%

	Three Months Ended June 30, 2024				Six Months Ended June 30, 2024
Americas (1)	$	13,880	55	%	$	36,560	61	%
EMEA(2)		9,436	37	%		19,395	32	%
Asia Pacific		2,083	8	%		4,269	7	%
Total	$	25,399	100	%	$	60,224	100	%

Revenue from individual geographic regions that represent less than 10% of total revenue for the periods presented are not separately disclosed.

(1)

U.S. represented 54% and 53% of total revenue for the three and six months ended June 30, 2025, respectively, and 49% and 41% of total revenue for the three and six months ended June 30, 2024, respectively. Canada represented 12% of total revenue for the three months ended June 30, 2025 and 20% of total revenue for the six months ended June 30, 2024.

(2)

United Kingdom represented 11% of total revenue for the six months ended June 30, 2025, and United Kingdom represented 15% and 11% of total revenue for the three and six months ended June 30, 2024.

Contract Assets

As of June 30, 2025, contract assets were $2,376, which was reported in contract assets on the Company’s condensed consolidated balance sheets. As of December 31, 2024, contract assets of $785 were reported in contract assets on the Company’s condensed consolidated balance sheets.

Changes in contract assets for the six months ended June 30, 2025 and 2024 were as follows:


	2025			2024
Balance as of January 1	$	785		$	4,917
Contract assets recorded during the period		3,048			3,970
Reclassified to accounts receivable		(1,539	)		(4,685	)
Other		82			(41	)
Balance as of June 30	$	2,376		$	4,161

Contract Liabilities

As of June 30, 2025, contract liabilities were $49,110, of which $24,609 was reported in contract liabilities, current portion, and $24,501 was reported in other long-term liabilities on the Company’s condensed consolidated balance sheets. As of December 31, 2024, contract liabilities were $45,526, of which $22,037 was reported in contract liabilities, current portion, and $23,489 was reported in other long-term liabilities on the Company’s condensed consolidated balance sheets.

Changes in contract liabilities for the six months ended June 30, 2025 and 2024 were as follows:


	2025			2024
Balance as of January 1	$	45,526		$	49,101
Contract liabilities recorded during the period		21,549			22,821
Revenue recognized during the period		(18,281	)		(29,037	)
Other		316			(390	)
Balance as of June 30	$	49,110		$	42,495

Remaining Performance Obligations

The Company has performance obligations associated with commitments in customer contracts for future services that have not yet been recognized as revenue. These commitments for future services exclude (i) contracts with an original term of one year or less, and (ii) cancellable contracts. As of June 30, 2025, the amount not yet recognized as revenue from these commitments was $208,880.

The Company expects to recognize its remaining performance obligations as of June 30, 2025, over the following periods:


	June 30, 2025
1 to 12 months	$	66,213	31	%
13 to 24 months		51,387	25	%
25 to 36 months		35,307	17	%
37 to 48 months		20,016	10	%
Remaining		35,957	17	%
Total	$	208,880	100	%

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Spire Global, Inc. 10-Q