Spire Global Reports $18 Million First Quarter Loss

  • Revenue increased to $18.1 million resulting in 86% year over year (YoY) growth
  • ARR of $81.6 million reflected $10.9 million of sequential and 134% YoY growth
  • Improved full year guidance – increased ARR low end range; lowered operating loss1
  • Reaffirmed remaining guidance

VIENNA, Va. (Spire Global PR) — Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”) a leading provider of space-based data, analytics and space services, today announced results for its quarter ended March 31, 2022.

“The first quarter was defined by strong execution, delivering results that exceeded our expectations on the top and bottom line. As market volatility, inflationary pressures, and supply chain constraints continue to make headlines, Spire is bringing insights to help our customers drive stability and operational efficiencies during these dynamic times,” said Peter Platzer, Spire’s CEO. “Customers recognize the value of Spire data, and we have seen them expand across our data products and up the data value chain. We look for continued growth and further customer diversity as more use cases for Spire’s data become apparent.”

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Space Systems Command Awards Slingshot Aerospace a $25 million Contract for Enhanced Space Simulation and Astrodynamics Training Platform

LOS ANGELES AIR FORCE BASE, Calif. (SSC PR) — Space Systems Command (SSC) recently awarded a $25.2 million, 39-month contract to Slingshot Aerospace, Inc. of El Segundo, California. Both SSC and SpaceWERX provided funding for the contract to acquire and host visualization and intelligence support products.

The contract is sought to develop two key products – the Slingshot Orbital Laboratory (SOLab) and the Digital Modeling & Advance Visualization Environment (DMAVE) digital twin tool.

“The intent of the SpaceWERX Strategic Funding Increase (STRATFI) program is to scale technology development over the “valley of death” by capitalizing on the most promising emerging commercial solutions to deliver better capabilities to the warfighter, faster,” said Lt. Col. Walter McMillan, director of SpaceWERX. “Each year, the STRATFI program places its ‘big bets’ on the most innovative technologies that meet critical mission gaps. Slingshot’s space education and simulation products have garnered support from across the Space Force operational and acquisition community as we see tremendous value in the technology.”

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Draper Associates & ATX Venture Partners Lead Slingshot Aerospace’s Oversubscribed $25 Million Series A-1 Funding Round

AUSTIN, Texas/EL SEGUNDO, Calif., March 10, 2022 (Slingshot Aerospace PR) — Slingshot Aerospace, Inc., a company building world-class space simulation and analytics products to accelerate space sustainability, announced today that it has raised $25 million in Series A-1 funds. The new money is in addition to the $9.6 million Series A funds raised in October 2020, bringing the total raised for the A and A-1 rounds to $34.6 million to date.

The oversubscribed A-1 round was co-led by Draper Associates, the global venture capital firm of prominent Silicon Valley venture capitalist Tim Draper, and ATX Venture Partners. Additional participation in the round included Edison Partners, Embedded Ventures, Valor Equity Partners, Lockheed Martin Ventures, and more. Participation from previous investors also included Revolution’s Rise of the Rest Fund, Okapi Venture Capital and others. Since inception in July 2017, Slingshot Aerospace has raised $42 million in funding. 

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Slingshot Aerospace Names Melanie Stricklan CEO and Gets Laser-Focused on Space Initiatives

Melanie Stricklan (Credit: Slingshot Aerospace)

David Godwin remains Chairman of the Board and will focus on corporate development

AUSTIN, Texas & EL SEGUNDO, Calif.–(Slingshot Aerospace PR)–Slingshot Aerospace, Inc., a leader in situational awareness technology, announced today that the company’s Co-founder Melanie Stricklan has been named Chief Executive Officer effective immediately as the company gets laser-focused on space. Co-founder and former CEO David Godwin will remain active within the company as Chairman of the Board where he will focus on expanding corporate development activities.

“We are honored to have gained such amazing traction in the space industry by securing contracts with customers like the U.S. Space Force and NASA that are not only paragons of the domain, but are critical to our nation’s defense, progress, and way of life,” said Stricklan. “We have an extraordinary team, including a number of space domain experts, and we look forward to putting an even greater focus on the industry across public and private sectors to make a bigger impact on the world.”

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Slingshot Aerospace Raises $8 Million in Series A Funds Led by ATX Ventures

AUSTIN, Texas/EL SEGUNDO, Calif. — Slingshot Aerospace, Inc., a leader in situational awareness technology, announced that it has raised $8 million in Series A funds for a total raised of $17.1 million to date.

The round is led by ATX Venture Partners, and includes additional investments from Revolution’s Rise of the Rest Seed Fund, Techstars Ventures, and Okapi Venture Capital. Angel investors that participated in the round include former CEO of the United States Geospatial Intelligence Foundation and current Principal Consultant for Plum Run, LLC Keith Masback; Gregory Mead and Marie-Alicia Chang, co-founders of Semetric; and Glenn Degenaars who was recognized as a Top Wealth Advisor for 2020 by Forbes.

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Winners Announced for US/UK Partnered International Space Pitch Day

LOS ANGELES AIR FORCE BASE, Calif. (USSF SMC PR) –  U.S Space Force’s Space And Missile Systems Center,  (SMC) along with its partners have announced the winners of International Space Pitch Day (ISPD). Small tech companies and start-ups from multiple countries had the opportunity to pitch their ideas in front of several U.S., U.K. and N.A.T.O. allied defense leaders on Nov. 16, 2020.

During the event, ten start-ups successfully secured same-day contracts and a slice of the $1M pot, to fast-track the development of their innovations. This marks the first time two nations have come together to award defense contracts based around a pitch-style event and the first time two nations have awarded joint defense innovation contracts to foreign companies.

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US Air Force Selects Slingshot Aerospace to Bring AI to SSA

SpaceNews reports the Air Force Space and Missile Systems Center has awarded a two-year $6 million contract to Slingshot Aerospace of Los Angeles to customize its artificial intelligence space situational awareness software for military use.

The commercially developed Orbital Atlas “will enable warfighters to pivot from traditional space situational awareness focusing on space catalog maintenance toward a more tactical, predictive solution,” said Melanie Stricklan, chief technology officer and co-founder of Slingshot Aerospace.

The company uses artificial intelligence to analyze data from satellites, aerial drones and other sources. Slingshot announced the Air Force award on Friday and will be demonstrating the Orbital Atlas this week at the Space Symposium’s “Orbit Lounge.”

The contract was a competitive award by the Air Force Space and Missile Systems Center’s Space Superiority Systems Directorate. “SMC is eager to tap into the innovations of artificial intelligence and cloud computing,” Stricklan said.