Spire Obtains $120 Million Credit Facility from Blue Torch Capital

VIENNA, Va. (Spire Global PR) — Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a leading global provider of space-based data, analytics and space services, today announced that it has obtained a credit facility up to $120 million, led by Blue Torch Capital. Proceeds will be utilized to extinguish an existing approximately $71 million credit facility and to continue driving Spire’s four strategic growth pillars, providing flexibility to strategically run the business.

Spire’s growth pillars are:

  • Invest in Sales, Marketing and Product
  • Expand into New Geographies and Use Cases
  • Expand the Capabilities of our Data and our Analytics
  • Execute Strategic Acquisitions to Strengthen our Market Position

“We have taken proactive steps to improve our balance sheet,” said Thomas Krywe, Spire’s CFO. “This credit facility helps de-risk the business and provides us with additional capital to invest in areas that are beneficial to the execution of our growth strategies as we drive towards our goal of being free cash flow positive in 21 – 27 months.”

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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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