Spire Global
Spire Global is a publicly traded space-data company (NYSE: SPIR) founded in 2012 as NanoSatisfi by International Space University graduates Peter Platzer, Jeroen Cappaert, and Joel Spark.
Profile
Operates a satellite constellation to collect Earth observation data—weather, aircraft locations, and vessel positions—sold via subscription to airlines, airports, governments, and weather services.
Spire Global is a publicly traded space-data company (NYSE: SPIR) founded in 2012 as NanoSatisfi by International Space University graduates Peter Platzer, Jeroen Cappaert, and Joel Spark. The company operates a constellation of over 110 nanosatellites—the LEMUR system—to collect and sell Earth observation datasets. It went public via SPAC merger in August 2021 at a $1.6 billion valuation and has raised approximately $248 million across 19 funding rounds.
Spire operates three business segments: weather data (via GNSS radio occultation), aviation tracking (ADS-B), and space-as-a-service for government and commercial satellite operators. In April 2025, it sold its maritime analytics division to Kpler for $241 million, a strategic divestiture that allowed Spire to eliminate debt and refocus on higher-margin government contracts and commercial aviation partnerships. In January 2025, Theresa Condor—who had been COO and part of the founding team—took over as CEO from Peter Platzer, who transitioned to Executive Chairman.
The new leadership recruited aerospace veterans from Airbus and related defense contractors, signaling a shift toward government-centric growth. The company reported 2025 revenue of $71.6 million and is guiding for 30% growth in 2026, driven by U.S. government contracts (including a $237 million Space Force STEP 2.0 award) and recent partnerships with Amadeus for airport operations and Schaeffler for sovereign European space hardware. Spire ended Q1 2026 debt-free with $50 million cash plus a recent $65.5 million private placement. The company targets adjusted EBITDA breakeven by Q4 2026, though it has missed previous cash-flow turnaround timelines and remains vulnerable to government spending volatility.
Who buys this
- Government defense and national security agencies (U.S. Space Force, NOAA, Canada, ESA, EUMETSAT)
- Aviation operators and airport management (Amadeus, airlines requiring global ADS-B coverage)
- Weather and climate forecasters (NOAA pilots, meteorological agencies, energy traders)
- Space-as-a-service customers (satellite operators outsourcing constellation management)
- Commercial maritime and logistics operators (residual post-Kpler divestiture, primarily U.S. government clients)
Publicly disclosed clients
- Amadeus IT Group (aircraft tracking for Virtual Airport Operations Center)
- U.S. Space Force Space Systems Command
- European Space Agency (ESA)
- National Oceanic and Atmospheric Administration (NOAA)
- Government of Canada (wildfire detection constellation)
- EUMETSAT (European weather satellite operator)
- Concirrus (aviation insurtech)
Strengths and what to watch
Strengths
- Debt-free balance sheet post-maritime sale with $115+ million in cash and equivalents; 76% of 2026 revenue already contracted, reducing execution risk
- Strategic partnerships with Amadeus (1,900+ global airports) and Schaeffler (€250 million, five-year European space hardware program expected), opening recurring commercial and industrial revenue
- Sustained government contract wins across U.S. ($237M Space Force STEP 2.0) and European (EUMETSAT, ESA) agencies, with rising defense budgets supporting backlog expansion
Watch for
- New leadership execution: Theresa Condor (CEO since Jan 2025) and incoming Airbus-veteran COO and CTO must operationalize 30%+ growth targets while managing cash burn; company has missed prior cash-flow breakeven guidance
- Government revenue concentration and shutdown risk: U.S. government contracts delayed much of 2025 revenue realization into 2026; policy shifts or appropriations freezes could compress margins or delay recognition
- Negative cash flow persists into 2026: Q1 2026 showed $26.2 million operating cash burn; company targets breakeven by year-end but must sustain 13% core (ex-maritime) growth amid intense competition from Planet Labs, Capella Space, and government-owned systems
Recent moves
- 3mo ago Schaeffler and Spire Global announce partnership to build sovereign European space hardware and satellite platforms; five-year deal expected to generate €250 million ($291M) in revenue
- 3mo ago Spire Global selected by Amadeus IT Group for real-time aircraft tracking data in Virtual Airport Operations Center; deployment now live after proof-of-concept phase
- 3mo ago Spire Global Q1 2026 earnings: $15.8M GAAP revenue and debt-free status; company raised additional $65.5M in private placement to extend runway through adjusted EBITDA breakeven
- 8mo ago Spire Global targets 30%+ revenue growth in 2026 driven by government contract momentum, $200M+ in remaining performance obligations, and new commercial partnerships
Key Information
- Industry
- Air/Space/Sea
- Founded
- 2012
- Employees
- 377
- Country
- United States
Frequently Asked Questions
What is Spire Global?
Spire Global is a publicly traded space-data company (NYSE: SPIR) founded in 2012 that operates a constellation of over 110 nanosatellites to collect and sell Earth observation data—weather, aircraft locations, and vessel positions—to airlines, airports, governments, and weather services worldwide.
What satellite system does Spire Global operate?
Spire Global operates the LEMUR system—a constellation of over 110 nanosatellites designed to collect Earth observation data. The company uses GNSS radio occultation for weather data, ADS-B receivers for aviation tracking, and provides space-as-a-service for government and commercial satellite operators.
Who are Spire Global's main customers?
Spire Global serves government defense agencies (U.S. Space Force, NOAA, ESA, EUMETSAT, Canada), aviation operators via Amadeus platforms, weather forecasters, climate scientists, commercial maritime operators, aviation insurers like Concirrus, and satellite operators seeking outsourced constellation management. Government contracts represent the largest revenue segment.
What are Spire Global's recent partnerships and contracts?
Spire Global signed a €250 million five-year partnership with Schaeffler in May 2026 for European space hardware and satellite platforms. The company also partnered with Amadeus for real-time aircraft tracking at 1,900+ airports and won a $237 million Space Force contract award.
Is Spire Global profitable and what is the financial outlook?
Spire Global reported $71.6 million revenue for 2025 and targets 30% growth in 2026 driven by government contracts. The company is debt-free post-maritime sale with $115+ million cash and aims for adjusted EBITDA breakeven by Q4 2026, though it previously missed cash-flow guidance.
What are the risks facing Spire Global?
Spire Global faces execution risks under new CEO Theresa Condor, who must deliver 30%+ growth targets. The company depends heavily on government contracts vulnerable to policy shifts and spending freezes. Cash burn persists into 2026 despite guidance, and competition from Planet Labs and Capella Space intensifies.
How Spire Global compares
Direct head-to-head against 3 competitors. Picked by 7wData.
Spire Global
- Positioning
- Operates a satellite constellation to collect Earth observation data—weather, aircraft locations, and vessel positions—sold via subscription to airlines, airports, governments, and weather services.
- Customer segments
- Government defense and national security agencies (U.S. Space Force, NOAA, Canada, ESA, EUMETSAT)
- Strengths
- Debt-free balance sheet post-maritime sale with $115+ million in cash and equivalents; 76% of 2026 revenue already contracted, reducing execution risk
- Watch for
- New leadership execution: Theresa Condor (CEO since Jan 2025) and incoming Airbus-veteran COO and CTO must operationalize 30%+ growth targets while managing cash burn; company has missed prior cash-flow breakeven guidance
- Recent moves
- Schaeffler and Spire Global announce partnership to build sovereign European space hardware and satellite platforms; five-year deal expected to generate €250 million ($291M) in revenue
Planet Labs PBC
- Positioning
- Optical and hyperspectral satellite imagery subscriptions sold to defense, intelligence agencies, and commercial analytics buyers.
- Customer segments
- Defense and intelligence agencies, civil governments, commercial analytics buyers, and agriculture operators across 100-plus countries.
- Strengths
- Signed over $460 million in satellite services contracts with Asia-Pacific, German, and Swedish government customers within 12 months.
- Watch for
- Net loss widened to $246.9 million in FY2026 despite 20% revenue growth; accumulated deficit stands at $1.45 billion.
- Recent moves
- Planet signed a multi-year contract with the Swedish Armed Forces in January 2026, its third major satellite services deal in 12 months.
Aireon
- Positioning
- Space-based ADS-B surveillance for oceanic and polar airspace, sold to air navigation service providers and aviation authorities.
- Customer segments
- Air navigation service providers, national aviation authorities, and commercial flight data vendors requiring global oceanic airspace coverage.
- Strengths
- Only space-based ADS-B system covering over 50% of global airspace; tracks 190,000 daily flights with ICAO-member ANSP validation.
- Watch for
- Iridium acquisition (closing July 2026) embeds Aireon inside a satellite telecom; buyers face roadmap uncertainty during integration.
- Recent moves
- Iridium announced $366.7 million acquisition of remaining 61% Aireon stake in May 2026, targeting a July 2026 close.
Tomorrow.io
- Positioning
- Satellite-derived weather intelligence platform combining atmospheric data with analytics, targeting commercial operators and government meteorological programs.
- Customer segments
- Aviation operators, energy and logistics companies, insurers, national meteorological agencies, and U.S. DoD weather branches.
- Strengths
- NOAA operational-grade validated microwave sounder data; embedded with the National Hurricane Center for peak-season forecasting support.
- Watch for
- First-generation constellation covers only 13 satellites; expanded DeepSky network depends entirely on $175 million raised in February 2026.
- Recent moves
- Raised $175 million in February 2026 at over $1 billion valuation to fund the DeepSky next-generation satellite constellation.
Sources
- ir.spire.com — Company headquarters, investor relations, Q1 2026 financial results, leadership team (Theresa Condor CEO, Peter Platzer Executive Chairman)
- www.cnbc.com — SPAC merger announcement, $1.6 billion valuation, $475M fundraise, August 2021 IPO on NYSE
- en.wikipedia.org — Founders (Peter Platzer, Jeroen Cappaert, Joel Spark), 2012 founding as NanoSatisfi, LEMUR constellation details, historical funding rounds through Series C
- www.fool.com — 2026 outlook analysis, cash flow challenges, government shutdown impact on 2025 revenue, competitive pressures, positive commercial signals
- ir.spire.com — Schaeffler partnership announced May 2026, €250 million five-year revenue expectation, European space hardware strategy
- ir.spire.com — Amadeus partnership for aircraft tracking data in Virtual Airport Operations Center, announced March 13, 2026 with live deployment
- smartmaritimenetwork.com — Kpler acquisition of Spire Maritime for $241M (completed April 25, 2025), strategic refocus on aviation/weather/space services
- www.investing.com — Q3 2025 revenue decline due to government shutdown delays, 30% growth guidance for 2026, government contract momentum