By Kelly Cloonan
Shares of Spire Global gained after the company's latest quarterly revenue topped analyst estimates, boosted by its radio occultation and ocean winds data business, as well as its space services.
The stock rose 8.2% to $13.20 in midday Friday trading. Shares have gained about 50% in the past year.
The satellite data, analytics and intelligence company posted fourth-quarter revenue of $15.8 million, down 27% year over year but topping analyst estimates of $15.5 million. The decline was due to the sale of Spire's maritime business last April, the company said.
Revenue increased on a sequential basis from the third quarter due to higher radio occultation and ocean winds data sales under awards from the National Oceanic and Atmospheric Administration, as well as increased revenue recognition from space services, the company said.
The company posted a fourth-quarter loss of $25.1 million, or 76 cents a share, compared with a loss of $48.8 million, or $1.92 a share, a year earlier.
On an adjusted basis, loss per share was 39 cents, compared with estimates for a loss of 48 cents a share according to analysts polled by FactSet.
Chief Executive Theresa Condor said space is now recognized as critical for national security, and the company is optimistic about its performance in the coming years.
"At Spire, we bring a level of operational experience that few can match in a market that favors companies capable of delivering the security and safety capabilities needed today," Condor said.
For the full year, the company guided for revenue of $75 million to $85 million. Analysts had projected revenue of $76.2 million.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
March 20, 2026 11:57 ET (15:57 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
