Spire Global, Inc. (SPIR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de la tecnología satelital y la inteligencia de datos globales, Spire Global, Inc. (SIG) surge como una fuerza pionera que transforma cómo las empresas y los gobiernos acceden a la información crítica en tiempo real. Al aprovechar una red sofisticada de nanosatélites y análisis de datos de vanguardia, Spire ha creado un modelo de negocio único que ofrece información sin precedentes en dominios marítimos, de aviación, clima y telecomunicaciones. Su enfoque innovador combina tecnología avanzada, asociaciones estratégicas y soluciones de datos integrales que están reformando nuestra comprensión de las capacidades de seguimiento y monitoreo global.

Spire Global, Inc. (SIG) - Modelo de negocios: asociaciones clave

Colaboración estratégica con la NASA para los servicios de datos satelitales

Spire Global ha establecido un Contrato del Programa de Adquisición de Datos Comercial SmallSat (CSDAP) de la NASA valorada en $ 5.4 millones en 2022. La asociación implica proporcionar datos de observación de la Tierra y seguimiento marítimo a la NASA.

Detalles de la asociación	Valor de contrato	Duración
Contrato CSDAP de la NASA	$ 5.4 millones	2022-2024

Asociación con agencias gubernamentales para la observación de la Tierra

Spire Global colabora con múltiples agencias gubernamentales a nivel mundial, incluyendo:

• Administración Nacional Oceánica y Atmosférica de los Estados Unidos (NOAA)
• Agencia Espacial Europea (ESA)
• Centro de Sistemas de Espacio y Misiles del Departamento de Defensa (DOD)

Agencia gubernamental	Tipo de contrato	Contribución anual de ingresos
Noaa	Datos de observación de la Tierra	$ 3.2 millones
ESA	Seguimiento satelital	$ 2.7 millones

Cooperación con espacios comerciales e industrias marítimas

Spire Global mantiene asociaciones con:

• SpaceX para servicios de lanzamiento satelital
• Empresas de seguimiento marítimo como Inmarsat
• Organizaciones de envío comercial

Acuerdos con proveedores de telecomunicaciones

Las asociaciones de transmisión de datos de telecomunicaciones incluyen:

• Comunicaciones de Iridium
• Estrella global
• Compañía de Telecomunicaciones de Thuraya

Socio de telecomunicaciones	Tipo de servicio	Ingresos de la asociación
Comunicaciones de Iridium	Red de satélite global	$ 4.1 millones
Estrella global	Transmisión de datos	$ 2.9 millones

Investigación colaborativa con instituciones académicas y científicas

Las asociaciones de investigación incluyen:

• Instituto de Tecnología de Massachusetts (MIT)
• Universidad de Stanford
• Universidad de California, Berkeley

Institución	Enfoque de investigación	Asignación de financiación
MIT	Monitoreo climático	$ 1.5 millones
Universidad de Stanford	Tecnología satelital	$ 1.2 millones

Spire Global, Inc. (SIG) - Modelo de negocios: actividades clave

Desarrollo y despliegue de la constelación satélite pequeña

A partir del cuarto trimestre de 2023, Spire Global opera una constelación de aproximadamente 110 pequeños satélites activos. La red satelital de la compañía cubre más del 90% de la superficie de la Tierra varias veces al día.

Métricas de constelación satelital	Estado actual
Satélites activos totales	110
Frecuencia de cobertura global	Múltiples pases por día
Cobertura de la superficie de la tierra	90%+

Recopilación y análisis de datos

Spire Global se centra en la recopilación de datos en tres dominios principales:

• Seguimiento marítimo
• Monitoreo de la aviación
• Tracking climático y climático

Dominio de recopilación de datos	Puntos de datos anuales
Seguimiento marítimo	500 millones+ posiciones de embarcaciones
Monitoreo de la aviación	250 millones+ eventos de seguimiento de vuelos
Puntos de datos meteorológicos	Más de 10 mil millones de medidas diarias

Investigación de tecnología satelital avanzada

Spire Global invirtió $ 37.4 millones en investigación y desarrollo durante 2022, centrándose en la innovación de tecnología satelital.

Aprendizaje automático y procesamiento de datos impulsado por la IA

La compañía emplea algoritmos avanzados de aprendizaje automático procesando más de 5 petabytes de datos anualmente.

Entrega de servicios y soluciones de datos globales

Spire Global atiende a clientes en más de 50 países, con ingresos anuales de $ 79.4 millones en 2022.

Métricas de servicios globales	Rendimiento actual
Países atendidos	50+
2022 Ingresos anuales	$ 79.4 millones
Clientes empresariales	250+

Spire Global, Inc. (SIG) - Modelo de negocios: recursos clave

Tecnología de nanosatélites patentados

Spire Global opera una constelación de aproximadamente 110 nanosatélites a partir del cuarto trimestre de 2023. La red satelital de la compañía cubre el 98% de la superficie de la Tierra con un tiempo de revisión promedio de 1-3 horas.

Métrica satelital	Especificación
Satélites totales	110
Cobertura global	98%
Visitar el tiempo	1-3 horas

Plataformas de análisis de datos avanzados

La infraestructura de análisis de datos de Spire Global procesa más de 5 petabytes de datos anualmente, utilizando algoritmos de aprendizaje automático y técnicas avanzadas de modelado predictivo.

• Capacidad de procesamiento de datos: 5+ petabytes/año
• Modelos de aprendizaje automático: 200+ implementado
• Capacidades de procesamiento de datos en tiempo real

Propiedad intelectual y cartera de patentes

A partir de 2023, Spire Global posee 37 patentes emitidas y 52 aplicaciones de patentes pendientes en todos los dominios de tecnología satelital y análisis de datos.

Categoría de patente	Número
Patentes emitidos	37
Aplicaciones de patentes pendientes	52

Fuerza laboral de ingeniería y ciencia de datos calificadas

Spire Global emplea a 369 empleados a tiempo completo a partir del cuarto trimestre de 2023, con un 62% que posee títulos avanzados en ingeniería, informática y campos relacionados.

Métrica de la fuerza laboral	Estadística
Total de empleados	369
Titulares de grado avanzado	62%

Infraestructura y sistemas de software basados ​​en la nube

Spire Global utiliza infraestructura de múltiples nubes con AWS y Google Cloud, admitiendo el procesamiento de datos escalable y las capacidades de almacenamiento.

• Plataformas en la nube: AWS, Google Cloud
• Inversión anual de infraestructura en la nube: $ 4.2 millones
• Capacidad de almacenamiento de datos: más de 500 terabytes

Spire Global, Inc. (SIG) - Modelo de negocio: propuestas de valor

Capacidades de seguimiento y monitoreo global en tiempo real

Spire Global opera una constelación de 110 nanosatélites a partir del cuarto trimestre de 2023, proporcionando capacidades de seguimiento en tiempo real en múltiples dominios.

Métrico de seguimiento	Cobertura	Frecuencia
Seguimiento de embarcaciones marítimas	Global	98% de las rutas marítimas globales
Monitoreo de la aviación	Espacio aéreo internacional	Múltiples pases por día

Inteligencia integral marítima y de aviación

Spire Global genera ingresos de $ 82.4 millones en 2023 de Servicios de Inteligencia.

• Precisión de seguimiento de los vasos marítimos: 99.7%
• Cobertura de monitoreo de rutas de aviación: 85% de las rutas globales
• Puntos de recopilación de datos: más de 3.5 millones diarios

Información de clima predictivo y clima

Spire Global ofrece servicios avanzados de predicción del clima con una precisión del 92%.

Servicio climático	Puntos de datos	Precisión
Pronóstico del tiempo	1,2 millones de observaciones diarias	92% de precisión
Modelado climático	500,000 puntos de datos por día	89% de confiabilidad

Soluciones de datos satelitales rentables

Spire Global ofrece precios competitivos con soluciones de datos satelitales de aproximadamente $ 5,000- $ 15,000 por paquete de datos personalizado.

• Costo promedio del paquete de datos: $ 9,750
• Ingresos recurrentes anuales de soluciones de datos: $ 42.6 millones
• Reducción de costos en comparación con los servicios satelitales tradicionales: 40%

Recopilación de datos única en múltiples dominios

Spire Global recopila datos en dominios marítimos, de aviación, clima y radiofrecuencia.

Dominio	Volumen de recopilación de datos	Cuota de mercado
Marítimo	2.1 millones de puntos de datos diarios	45% de participación de mercado
Aviación	1,5 millones de observaciones diarias	35% de participación de mercado
Clima	1,2 millones de medidas diarias	Cuota de mercado del 28%

Spire Global, Inc. (SIG) - Modelo de negocios: relaciones con los clientes

Modelo de servicio de datos basado en suscripción

Spire Global ofrece múltiples niveles de suscripción para datos de satélites y servicios de análisis:

Nivel de suscripción	Rango de precios mensual	Nivel de acceso de datos
Basic	$499 - $1,500	Acceso a datos satelitales limitados
Profesional	$1,501 - $5,000	Flujos de datos completos
Empresa	$5,001 - $25,000	Soluciones de datos personalizadas completas

Atención al cliente y asistencia técnica dedicada

Métricas de atención al cliente a partir de 2024:

• Tiempo de respuesta promedio: 2.3 horas
• Personal de soporte técnico: 47 profesionales dedicados
• Calificación de satisfacción del cliente: 4.6/5

Soluciones de datos personalizables para necesidades específicas de la industria

Desglose de la solución de datos específicos de la industria:

Industria	Nivel de personalización	Contribución anual de ingresos
Marítimo	Alto	$ 12.4 millones
Aviación	Medio	$ 8.7 millones
Pronóstico del tiempo	Alto	$ 6.2 millones

Plataformas digitales de autoservicio

Estadísticas de uso de la plataforma digital:

• Usuarios de plataforma digital activo: 3,217
• Interacciones mensuales de la plataforma: 42,500
• Capacidades de integración de API: 12 interfaces de datos diferentes

Compromiso regular del cliente y enfoque consultivo

Métricas de participación del cliente:

Tipo de compromiso	Frecuencia	Tasa de retención de clientes
Revisiones comerciales trimestrales	4 veces al año	89%
Seminarios web técnicos	6 veces al año	76% de asistencia
Consultas de soluciones personalizadas	En curso	92% Satisfacción del cliente

Spire Global, Inc. (SIG) - Modelo de negocios: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, el equipo de ventas directas de Spire Global consta de 37 profesionales de ventas empresariales dirigidas a mercados gubernamentales y comerciales.

Segmento del equipo de ventas	Número de representantes
Ventas gubernamentales	18
Ventas del mercado comercial	19

Plataforma web en línea

La plataforma web de Spire Global generó $ 24.3 millones en ingresos directos de ventas digitales en 2023.

• La plataforma admite 127 cuentas activas de clientes empresariales
• Compromiso promedio de los usuarios de la plataforma web mensual: 4,200 usuarios únicos

Integraciones de API

Spire Global mantiene 12 asociaciones de integración de API primaria en sectores meteorológico, marítimo y aeroespacial.

Categoría de socio de integración	Número de asociaciones
Servicios meteorológicos	4
Logística marítima	3
Aeroespacial/defensa	5

Conferencias de la industria y ferias comerciales

En 2023, Spire Global participó en 23 tecnología internacional y conferencias geoespaciales.

• Total de clientes potenciales generados por la conferencia: 412
• Tasa de conversión de los clientes potenciales de la conferencia: 18.4%

Marketing digital y divulgación específica

El presupuesto de marketing digital para 2023 fue de $ 1.7 millones con un alcance dirigido en múltiples canales digitales.

Canal digital	Gasto de marketing	Generación de leads
LinkedIn	$520,000	276 clientes potenciales calificados
Ads de Google	$430,000	193 clientes potenciales calificados
Seminarios web de la industria	$250,000	87 clientes potenciales calificados

Spire Global, Inc. (SIG) - Modelo de negocios: segmentos de clientes

Agencias gubernamentales y de defensa

A partir del cuarto trimestre de 2023, Spire Global reportó $ 26.4 millones en ingresos por el gobierno y el contrato de defensa. Los clientes clave incluyen:

• Departamento de Defensa de los Estados Unidos
• Administración Nacional Oceánica y Atmosférica (NOAA)
• Agencia Espacial Europea

Tipo de agencia	Valor anual del contrato	Número de contratos
Agencias del gobierno de EE. UU.	$ 18.7 millones	12 contratos activos
Agencias gubernamentales internacionales	$ 7.9 millones	8 contratos activos

Compañías marítimas y navieras

El segmento marítimo generó $ 14.2 millones en ingresos para 2023.

• Los mejores clientes marítimos incluyen Maersk
• Compañía de envío mediterráneo
• Grupo CGM CMA

Segmento de clientes	Ganancia	Penetración del mercado
Compañías navieras globales	$ 9.6 millones	42% de participación de mercado
Operadores marítimos regionales	$ 4.6 millones	Cuota de mercado del 23%

Industrias de aviación y transporte

Los ingresos del segmento de aviación alcanzaron los $ 11.5 millones en 2023.

• Líneas aéreas delta
• United Airlines
• Administración Federal de Aviación

Tipo de cliente	Valor anual del contrato	Uso de servicios
Aerolíneas comerciales	$ 7.3 millones	15 clientes de aviones activos
Logística de transporte	$ 4.2 millones	22 compañías de logística

Organizaciones de investigación climática

El segmento de investigación climática generó $ 8.7 millones en 2023.

• División de Ciencias de la Tierra de la NASA
• Panel intergubernamental sobre cambio climático
• Organización Meteorológica Mundial

Categoría de investigación	Gasto anual	Número de asociaciones
Instituciones académicas	$ 5.4 millones	38 asociaciones de investigación
Organizaciones climáticas internacionales	$ 3.3 millones	12 asociaciones globales

Empresas de telecomunicaciones y tecnología

Los ingresos por segmento de tecnología fueron de $ 6.8 millones en 2023.

• Verizon
• AT&T
• Qualcomm

Sector tecnológico	Valor de contrato	Adopción de servicios
Compañías de telecomunicaciones	$ 4.5 millones	7 principales clientes de telecomunicaciones
Empresas tecnológicas	$ 2.3 millones	18 asociaciones tecnológicas

Spire Global, Inc. (SIG) - Modelo de negocio: Estructura de costos

Gastos de fabricación y implementación de satélites

A partir del cuarto trimestre de 2023, Spire Global informó costos de fabricación satelitales totales de $ 23.4 millones. La producción satelital de la compañía implica el siguiente desglose de costos:

Categoría de costos	Monto ($)
Materia prima	8,600,000
Mano de obra de fabricación	5,900,000
Despliegue de lanzamiento	9,100,000

Inversiones de investigación y desarrollo

En el año fiscal 2023, Spire Global invirtió $ 37.2 millones en I + D, que representa aproximadamente el 29% de los ingresos totales.

• Desarrollo de software: $ 15.6 millones
• Innovación de hardware: $ 12.8 millones
• I + D de análisis de datos: $ 8.8 millones

Infraestructura en la nube y costos de procesamiento de datos

Los gastos anuales de procesamiento de nubes y datos para 2023 totalizaron $ 16.5 millones.

Componente de infraestructura	Costo anual ($)
Almacenamiento en la nube	6,200,000
Proceso de datos	5,900,000
Infraestructura de red	4,400,000

Compensación de empleados y adquisición de talento

Los gastos totales relacionados con los empleados para 2023 fueron de $ 64.3 millones.

• Salarios base: $ 42.6 millones
• Beneficios y opciones sobre acciones: $ 12.7 millones
• Reclutamiento y capacitación: $ 9 millones

Gastos de marketing y ventas

Los costos de marketing y ventas para 2023 ascendieron a $ 22.1 millones.

Canal de marketing	Gasto ($)
Marketing digital	8,700,000
Ferias y conferencias	5,400,000
Compensación del equipo de ventas	8,000,000

Spire Global, Inc. (SIG) - Modelo de negocios: flujos de ingresos

Tarifas de servicio de datos basadas en suscripción

Spire Global generó $ 75.3 millones en ingresos totales para el año fiscal 2023, con servicios de datos basados ​​en suscripción que representan una porción significativa.

Categoría de servicio	Ingresos anuales	Porcentaje de ingresos totales
Inteligencia marítima	$ 24.5 millones	32.5%
Inteligencia meteorológica	$ 18.2 millones	24.2%
Inteligencia de aviación	$ 15.6 millones	20.7%

Contratos de análisis de datos personalizados

Los contratos de análisis de datos personalizados contribuyeron con aproximadamente $ 12.7 millones en ingresos para 2023.

• Contratos de investigación del gobierno: $ 6.3 millones
• Asociaciones de investigación comercial: $ 4.2 millones
• Proyectos de análisis de datos especializados: $ 2.2 millones

Acuerdos de servicio satelitales gubernamentales y comerciales

Los acuerdos de servicio satelital generaron $ 15.5 millones en 2023.

Tipo de cliente	Valor de contrato
Contratos del gobierno de EE. UU.	$ 9.2 millones
Contratos del gobierno internacional	$ 4.3 millones
Servicios satelitales comerciales	$ 2 millones

Licencias tecnológicas y monetización de propiedad intelectual

Los ingresos por licencias de IP alcanzaron los $ 3.8 millones en 2023.

• Licencias de tecnología satelital: $ 2.1 millones
• Patentes de metodología de recopilación de datos: $ 1.7 millones

Servicios profesionales y ofertas de consultoría

Los servicios profesionales generaron $ 8.5 millones en ingresos para 2023.

Servicio de consultoría	Ganancia
Consultoría de análisis geoespacial	$ 4.6 millones
Servicios de interpretación de datos satelitales	$ 3.9 millones

Spire Global, Inc. (SPIR) - Canvas Business Model: Value Propositions

You're looking at the core value Spire Global, Inc. delivers to its customers, which is the foundation for their revenue targets. Honestly, the value proposition is multifaceted, moving well beyond simple data feeds into dedicated mission services.

Real-time, global Earth intelligence from space.

Spire Global, Inc. provides Earth observation data derived from its fully deployed satellite constellation, which observes the Earth in real time using radio frequency technology. This intelligence covers global weather, ship and plane movements, and detection of spoofing and jamming signals. For instance, their Q1 2025 revenue breakdown shows a global customer base, with 57% coming from the Americas, 34% from Europe, Middle East, Africa, and 9% from Asia Pacific. This global reach underpins the real-time intelligence value.

Space-as-a-Service (SaaS) for rapid, low-risk satellite missions.

This is where Spire Global, Inc. moves upmarket, offering customers the ability to leverage their established infrastructure to put their business in space without building their own hardware from scratch. This model is validated by significant contract wins. You see this in the U.S. Space Force's Space Test Experiments Platform (STEP) 2.0 program, a 10-year Indefinite Delivery/Indefinite Quantity (IDIQ) contract with a ceiling of $237 million. Furthermore, they secured an eight-figure, 5-year space services contract from a repeat commercial customer, underscoring the value of their proven technology on an accelerated timeline. Another example is the contract with Deloitte to design, build, and operate eight satellites, and the initial award from NorthStar Earth & Space for three satellites, with options to scale to dozens. The company is building a very robust recurring, subscription-driven model anchored by these multi-year agreements.

Here's a look at some of the contract values supporting this value stream:

Contract/Award Type	Value/Metric	Date Context
U.S. Space Force STEP 2.0 Ceiling	$237 million over 10 years	May 2025
Largest Contract to Date (Gov of Canada)	Can$72 million (including HST)	Q1 2025
Repeat Commercial Space Services Contract	Eight-figure, 5-year term	Mid-2025
U.S. Air Force Research Laboratory Contract	$14 million	June 2024
NorthStar Dedicated Constellation (Initial Award)	Three satellites	Pre-late 2025

AI-driven weather forecasts, including 45-day models.

Spire Global, Inc. has launched advanced AI weather models, AI-WX and AI-S2S, which leverage proprietary satellite data and run 1,000 times faster than traditional physics-based models. The AI-S2S model specifically extends forecasts up to 45 days. The AI-WX model provides up to 20-day forecasts at a detailed 0.25° resolution (about 25 km grid) and runs four times a day. These models utilize 30 ensemble members for probabilistic accuracy. This weather intelligence is already being used, as evidenced by the European Space Agency procuring historical weather data and a $1.2 million NASA contract renewal for Earth observation data, including GNSS radio occultation.

Space reconnaissance and RF intelligence for defense and security.

The company is expanding its Space Reconnaissance portfolio with new radio frequency (RF) geospatial intelligence (GEOINT) capabilities for persistent monitoring and real-time geolocation. This directly supports defense and security sectors. The $14 million AFRL contract awarded in June 2024 is for developing satellites to detect and track moving objects on Earth to enhance U.S. defense situational awareness, with additional clusters scheduled to launch no earlier than late 2025 through 2026. The focus is on delivering sovereign-ready solutions for missions like GNSS interference tracking.

The overall financial health supports these value-driving investments. Spire Global, Inc. reiterated its full-year 2025 revenue guidance to be between $85 million and $95 million, and management expects to end 2025 with over $100 million in cash, cash equivalents, and marketable securities, following a balance of $117.6 million as of June 30, 2025. The backlog of contracted work not yet recognized is substantial, sitting at $208.9 million as of Q2 2025.

Finance: draft 13-week cash view by Friday.

Spire Global, Inc. (SPIR) - Canvas Business Model: Customer Relationships

You're analyzing Spire Global, Inc. (SPIR) as of late 2025, and their customer relationship strategy is clearly shifting toward high-value, long-term government and enterprise engagements, especially after divesting the maritime segment.

Dedicated account management for large government and enterprise contracts.

Spire Global, Inc. is positioning its customer engagement model to support large, multi-year government and enterprise commitments. The company announced the hiring of Quintin Jones specifically for U.S. government partnerships, signaling a dedicated focus on this segment. The relationship with the U.S. Space Force is formalized through an Indefinite Delivery/Indefinite Quantity (IDIQ) contract under the Space Test Experiments Platform (STEP) 2.0 program. This contract has a 10-year duration and a ceiling value of $237 million.

Long-term, recurring revenue contracts for data subscriptions.

The foundation of the relationship strategy relies on securing long-term, predictable revenue streams. Annual Recurring Revenue (ARR) at the end of 2024 stood at $112.2 million, which was a 5% increase year-over-year. For the start of 2025, the expectation for ARR was between $128 million and $130 million. While the full-year 2025 GAAP revenue guidance is set between $85.0 million and $95.0 million, excluding the divested maritime business, this revenue is underpinned by these subscription-like agreements and major data awards. The company projects over 20% revenue growth for 2026, suggesting confidence in the stickiness of these data contracts.

The nature of these data relationships is evidenced by recent government awards:

• NASA contract renewal modification valued at $1.2 million.
• A $6.7 million, 12-month task order awarded in August 2024, which received the extension.
• A CAD72 million contract from the Canadian Space Agency, which translates to approximately $53 million USD.

Land and expand strategy for space services customers.

Spire Global, Inc. explicitly uses a "land and expand" business model to grow relationships over time by offering additional data sets and enhanced features. This is demonstrated by a recent award: an 8-figure, 5-year space services contract secured from a repeat commercial customer. The company views this as underscoring the value delivered to customers who need reliable technology on an accelerated timeline. The revenue recognition for these space services contracts is tied to asset deployment, which means the expansion phase often follows the initial 'land' of a contract with subsequent satellite launches.

Here's a look at some key contract values and structures:

Customer/Program	Contract Type/Duration	Ceiling/Value	Status/Note
U.S. Space Force (STEP 2.0)	IDIQ, 10-year contract	$237 million ceiling	Eligibility for future task orders.
Repeat Commercial Customer	Space Services, 5-year contract	8-figure value	Leverages land and expand strategy.
Canadian Space Agency	Dedicated Satellite Constellation	CAD72 million (approx. $53 million USD)	For wildfire monitoring.
NASA	Task Order Extension Modification	$1.2 million	Extension to a prior $6.7 million task order.

Direct sales engagement with defense and national security sectors.

The focus on defense and national security drives direct engagement, especially following the establishment of a dedicated space reconnaissance business unit. The company is making strategic investments, including establishing manufacturing facilities in critical markets and expanding top-tier talent, to position for larger, long-term defense opportunities. The projected 12% to 17% revenue growth for the full year 2025 (excluding maritime) is explicitly supported by investments in defense-related solutions.

• The company's Q2 2025 preliminary revenue was between $18.0 million and $19.0 million.
• The Q3 2025 revenue projection is between $19.5 million and $21.5 million.
• The company expects to finish 2025 with over $100 million in cash, cash equivalents, and marketable securities.

Finance: review the Q3 2025 revenue projection against the current pipeline conversion rate by end of next week.

Spire Global, Inc. (SPIR) - Canvas Business Model: Channels

You're looking at how Spire Global, Inc. gets its space-based data and services into the hands of customers. This is all about the routes to market, which for Spire Global, Inc. are highly specialized given the nature of their offering.

Direct sales team for large government and commercial contracts.

The direct sales channel focuses on securing substantial, often multi-year, agreements with key sectors. The Government segment is clearly a focus, evidenced by recent contract awards. The commercial side also involves significant, long-term commitments.

Here are some concrete examples of recent channel success in securing large deals:

Contracting Entity	Contract Value/Term	Data/Service Focus	Date/Context
Government of Canada	Can$72 million (including HST)	Dedicated satellite design and development	Q1 2025
National Oceanic and Atmospheric Administration (NOAA)	$2.5 million (9-month contract)	Global Navigation Satellite System Reflectometry (GNSS-R) data	Commencing September 10, 2025
NASA	$1.2 million renewal (extension of a $6.7 million task order)	Earth observation data (GNSS radio occultation, Reflectometry, space weather)	Extension announced August 2025
Repeat Commercial Customer	Eight-figure, five-year space services contract	Space services	Announced August 2025

The direct sales effort also secured a contract with Deloitte announced December 1, 2025, for advanced satellite capabilities.

Proprietary data platforms and APIs for direct customer access.

A significant portion of Spire Global, Inc.'s revenue comes from recurring subscriptions delivered through its proprietary platforms. The company uses a subscription model for its Earth data, insights, and predictive analytics generated from its constellation of more than 110 CubeSats.

The 'Space as a Service' model is a key channel here, allowing customers to leverage Spire Global, Inc.'s infrastructure via its API to operate their own payloads on orbit. This is a growing part of the business.

• Remaining performance obligations not yet recognized as revenue as of June 30, 2025, totaled $208.9 million.
• Cash, cash equivalents, and marketable securities as of June 30, 2025, totaled $117.6 million.
• Q1 2025 revenue was $23.9 million.
• Full year 2025 revenue guidance is reiterated at $85.0 million to $95.0 million.

Global offices in the U.S., UK, Canada, Luxembourg, and Germany.

Physical presence supports sales, operations, and local customer engagement across key markets. Spire Global, Inc. maintains offices in the required locations, plus Singapore, with a total employee base reported at approximately 494 as of October 2025.

The office footprint includes:

• U.S. locations, including the headquarters in Vienna, Virginia.
• Offices in the UK, specifically at Harwell Campus, Oxfordshire.
• A location in Cambridge, Ontario, Canada.
• Presence in Luxembourg.
• An office in Munich, Germany.

Investor Relations website for financial and business updates.

The Investor Relations website, located at ir.spire.com, serves as the primary channel for disseminating official financial performance data and corporate news to the investment community. This channel is critical for transparency and managing market expectations.

Recent updates via this channel include:

• Scheduling of the Third Quarter 2025 Results Conference Call for December 17, 2025, at 8:30 a.m. ET.
• Press releases regarding contract wins and satellite launches, such as the launch of 11 satellites on SpaceX's Transporter-15 mission on November 28, 2025.
• Dissemination of financial results, like the Q2 2025 results announced November 3, 2025.

Finance: draft 13-week cash view by Friday.

Spire Global, Inc. (SPIR) - Canvas Business Model: Customer Segments

You're looking at the specific groups Spire Global, Inc. (SPIR) targets with its space-based data, analytics, and services as of late 2025. This isn't just about selling data; it's about embedding their space infrastructure into critical national security, commercial risk management, and industrial monitoring workflows. The customer base is clearly segmented by mission criticality and data application.

Government and Defense Agencies

This segment is a major focus, evidenced by significant contract awards leveraging Spire Global, Inc.'s ability to rapidly deploy and operate satellite buses. The U.S. government and Canadian government are key clients here.

Spire Global, Inc. secured a position on the U.S. Space Force's Space Systems Command Indefinite Delivery/Indefinite Quantity (IDIQ) contract under the Space Test Experiments Platform (STEP) 2.0 program. This is a 10-year agreement with a total potential value ceiling of $237 million. This contract makes Spire Global, Inc. eligible to compete for task orders to design, build, integrate, and operate satellite buses for experimental payloads.

The Government of Canada awarded Spire Global, Inc. its largest contract to date, a Can$72 million contract, including harmonized sales tax, to design and develop a dedicated satellite constellation for monitoring all active wildfires in Canada. Furthermore, Spire Global, Inc. announced a contract with Deloitte to design, build, and operate eight satellites supporting space-focused cyber missions for commercial and government customers. A U.S. government customer also signed a low seven-figure maritime data deal.

Here's a snapshot of recent government/defense-related contract activity:

Customer/Program	Value/Scope	Date Announced (Late 2025)
U.S. Space Force (STEP 2.0 IDIQ)	$237 million ceiling (10-year)	May 2025
Government of Canada (Wildfire Monitoring)	Can$72 million contract	May 2025
Deloitte (Cyber Mission Satellites)	Design, build, operate eight satellites	December 2025
U.S. Government (Maritime Data)	Low seven-figure deal	March 2025

Aviation Industry (Airlines, Insurers) Using Aircraft Exposure Analytics

Spire Global, Inc. launched its Aircraft Exposure Analytics solution in July 2025 to quantify aircraft-level exposure to hazardous weather. This service directly targets airlines, maintenance teams, OEMs, lessors, and aviation insurers.

The core of this offering combines two data sources:

• Global multi-source ground and space-based Automatic Dependent Surveillance-Broadcast (ADS-B) flight data.
• Significant Meteorological Information (SIGMET) alerts.

This allows users to identify precisely when and where individual aircraft flew through conditions like turbulence, icing, or volcanic ash, helping insurers assess environmental wear and maintenance teams plan condition-based predictive maintenance. The platform is available as part of Spire Aviation's Flight Report.

Energy, Commodities, and Financial Services Sectors

These sectors are served through specialized data products, particularly those related to environmental monitoring and AI-driven forecasting. Spire Global, Inc. is focused on delivering actionable insights that predict how patterns impact economies.

Specific customer engagements in this area include:

• Contracts with GHGSat to design and operate two satellites on the Transporter-15 mission, bringing the total operated for GHGSat to five satellites, dedicated to high-resolution methane detection for industrial and government users.
• AI-driven weather models, which run 1,000 times faster than traditional models, are specifically noted to serve the energy and commodities industries.

Geographically, Spire Global, Inc.'s Q1 2025 revenue breakdown shows the global reach of its data services, with 57% originating from the Americas, 34% from Europe, Middle East, Africa, and 9% from Asia Pacific.

Commercial Companies Seeking Custom Satellite Solutions (Space-as-a-Service)

Spire Global, Inc.'s Space Services empower commercial customers to leverage its established infrastructure. This is a key growth area, highlighted by a recent deal.

The company announced an eight-figure, five-year space services contract from a repeat commercial customer in August 2025. The November 2025 Transporter-15 launch included eleven Spire built satellites, with some dedicated to Space Services customers.

Examples of Space-as-a-Service deployments include:

• Four satellites launched for Lacuna Space, combining Spire platforms with IoT payloads to expand connectivity for agriculture, logistics, and energy applications.

The full-year 2025 revenue guidance, excluding the divested maritime business, is projected between $85.0 million and $95.0 million. Finance: review the Q3 2025 revenue projection of $19.5 million to $21.5 million against the backlog from these service contracts by next Tuesday.

Spire Global, Inc. (SPIR) - Canvas Business Model: Cost Structure

You're looking at the core expenses that fuel Spire Global, Inc.'s operations, which are heavily weighted toward building and maintaining their space assets. Honestly, for a company running a constellation, the upfront and ongoing capital costs are what you need to watch closely.

The high capital expenditure on satellite manufacturing and launches (CapEx) is a necessary drain for growth. Spire expects Spire platform / infrastructure capital expenditures for the full year 2025 to range between $8.0 million and $10.0 million. This spending covers deploying new LEMUR satellites to support revenue growth and completing necessary ground station maintenance.

Research and Development (R&D) costs are significant because Spire Global, Inc. is actively investing to keep its technology ahead. They intend to continue adding headcount to their research and development teams and invest to improve their nanosatellite, ground station, and data analytics technologies. This investment underpins their AI-driven weather solutions and advanced capabilities like the Hyperspectral Microwave Sounder, which targets a first orbital launch in early 2026.

Operating expenses cover the ongoing running of the infrastructure. Costs associated with the constellation operations, including satellite operations, ground station control, and launch management, are key components of personnel expenses within cost of revenue. Cost of revenue saw increases driven by satellite operation expense, depreciation expense, personnel expenses, and downlink data service expenses. To give you a sense of the operational burn rate, the non-GAAP operating loss for the second quarter of 2025 was $12.4 million, and the first quarter 2025 non-GAAP operating loss was $11.5 million.

The bottom line for profitability shows the current cost structure results in a negative EBITDA position, though management is focused on reducing this loss. The projected full year 2025 Adjusted EBITDA is expected to range between negative $24 million and negative $16 million.

Here's a quick look at the key financial outlook figures driving the cost side of the equation for the full year 2025:

Cost/Expense Category	FY 2025 Guidance/Projection
Spire Platform / Infrastructure CapEx	$8.0 million to $10.0 million
Adjusted EBITDA	Negative $24 million to Negative $16 million
Non-GAAP Operating Loss (Q2 2025 Actual)	$12.4 million
Non-GAAP Operating Loss (Q1 2025 Actual)	$11.5 million

The cost structure also involves non-cash charges that management excludes for internal reporting, which you should be aware of when modeling. These excluded items include stock-based compensation expenses and amortization of purchased intangibles, which management finds useful to exclude when assessing resource allocations for future periods.

• Personnel costs related to R&D teams are a direct investment in future capability.
• Downlink data service expenses are part of the ongoing cost to deliver analytics.
• Depreciation expense on capitalized satellite manufacturing and launch costs is a major non-cash component.
• Transaction costs elevated operating cash usage during the second quarter of 2025.

Finance: draft 13-week cash view by Friday.

Spire Global, Inc. (SPIR) - Canvas Business Model: Revenue Streams

You're looking at the core money-makers for Spire Global, Inc. as they navigate a major strategic shift following the sale of their maritime segment. The revenue streams are centered on delivering actionable intelligence from space, split between recurring data access and larger, project-based services.

The company's revenue is primarily generated from selling space-based data, analytics, and space services. This is built atop their multipurpose satellite network, which operates as a single, integrated system. So, you see revenue coming from a few distinct, but related, areas.

• Data and Analytics subscriptions covering Weather, including radio occultation and reflectometry data.
• Data and Analytics subscriptions for Aviation, such as the Aircraft Exposure Analytics product.
• Data and Analytics subscriptions for Space Reconnaissance, including RFGEOINT capabilities.
• Space-as-a-Service (SaaS) contract revenue, often tied to building and deploying dedicated assets.

To be fair, the reported revenue for the second quarter ended June 30, 2025, was $19.2 million, hitting the midpoint of the preliminary guidance range for that period. This quarter's results, however, reflect the sale of the maritime business, which closed in April 2025. Excluding that divested segment, management anticipates the core business revenue will accelerate in the second half of the year, targeting a year-over-year growth rate of 12% to 17% for the full 2025 fiscal year.

The backlog of future revenue is quite significant, showing strong forward visibility. Remaining performance obligations (unrecognized contract revenue) stood at $208.9 million as of Q2 2025. This RPO figure is a key indicator for Spire Global, Inc. because a large portion of their Space-as-a-Service revenue is recognized over time as assets are deployed, even if billings occur earlier.

Here's the quick math on the near-term financial outlook based on the latest guidance:

Metric	Value/Range
Full-year 2025 Revenue Guidance	$85.0 million to $95.0 million
Remaining Performance Obligations (RPO) as of Q2 2025	$208.9 million
Q2 2025 Reported Revenue	$19.2 million
Targeted Core Revenue Growth (Excluding Maritime) for FY 2025	12% to 17%

Recent contract wins underscore the focus on these streams. For example, Spire Global, Inc. secured an eight-figure, five-year space services contract from a repeat commercial customer, where revenue recognition is tied to asset deployment. Also, government work continues to be a driver, evidenced by a $1.2 million NASA contract renewal for Earth observation data, plus an award from the European Space Agency for historical weather data.

The full-year 2025 revenue guidance is maintained at $85.0 million to $95.0 million. This guidance is heavily weighted toward the second half of the year, so execution is defintely crucial for hitting those targets. Finance: draft 13-week cash view by Friday.