10-Q

Quarterly report

✓ VerifiedSpire Global's quarterly report shows the April private placement of 5,000,000 shares at $14.00 raising approximately $65.5 million net, alongside a contract termination removing approximately $42 million territory of future revenue in staged amounts.

Filed May 14, 2026 · 06:42 ET

Summary

On April 8, 2026 the company agreed to the 2026 private placement of 5,000,000 Class A shares at $14.00 per share, closing April 10 with aggregate net proceeds of approximately $65.5 million.
A contract termination means approximately $8.1 million, $19.7 million, and $14.5 million of revenue previously anticipated over the next 12, 13 to 24, and 25 to 36 months respectively will not be recognized.
Gross margin was 40% against 36% a year earlier; sales and marketing expense fell $2.4 million, or 43%, after the maritime transaction.

Key facts

Private placement: approximately $65.5 million net
From the filing for Private placement
“The aggregate net proceeds from the 2026 Private Placement were approximately $65.5 million”
Terminated revenue: $8.1M / $19.7M / $14.5M by period
From the filing for Terminated revenue
“Approximately $8.1 million, $19.7 million, and $14.5 million of revenue previously expected to be recognized within the next 12 months, 13 to 24 months, and 25 to 36 months, respectively, will not be recognized”

Why it mattersFresh equity landed the same month a multi-year contract fell away, which reframes the growth math.

Filed: May 14, 2026
Accepted: 2026-05-14 10:42Z
Period: Mar 31, 2026
Accession no.: 0001193125-26-222710
Size: 15.5 MB
Index: Filing index

Summary

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