10-Q

Quarterly report

✓ VerifiedSpire Global revenue decreased $9.2 million, or 21%, for the six months ended June 30, 2026, and it closed a 2026 Private Placement of 5,000,000 Class A shares at $14.00 per share for net proceeds of approximately $65.4 million.

Filed Aug 13, 2026 · 07:17 ET

Summary

Total revenue decreased $1.1 million, or 6%, for the three months ended June 30, 2026, and decreased $9.2 million, or 21%, for the six months ended June 30, 2026, primarily driven by the Maritime Transaction.
Net cash used in operating activities was $49.6 million for the six months ended June 30, 2026, and the reported net loss was $45.8 million.
On April 8, 2026, the Company entered into the 2026 Securities Purchase Agreement for the 2026 Private Placement of 5,000,000 shares of Class A common stock at a purchase price of $14.00 per share, closing April 10, 2026 with net proceeds of approximately $65.4 million.
As of June 30, 2026 the Company had cash and cash equivalents of $38.8 million and marketable securities of $52.9 million, and total remaining performance obligations of $134,467 thousand.
The Company received a first data from its Hyperspectral Sounder demonstrator satellite, launched its seventh Optical Inter-Satellite Link satellite, and established a satellite manufacturing facility in Munich; as of July it had launched 29 satellites across three missions in 2026.
Management concluded that disclosure controls and procedures were not effective as of June 30, 2026 due to previously disclosed material weaknesses in internal control over financial reporting.

Key facts

Q2 2026 revenue change: decreased $1.1 million, or 6%
From the filing for Q2 2026 revenue change
“Total revenue decreased $1.1 million, or 6%, for the three months ended June 30, 2026, compared with the three months ended June 30, 2025.”
H1 2026 revenue change: decreased $9.2 million, or 21%
From the filing for H1 2026 revenue change
“Total revenue decreased $9.2 million, or 21%, for the six months ended June 30, 2026, compared with the six months ended June 30, 2025.”
Six-month net loss: $45.8 million
From the filing for Six-month net loss
“The net cash used in operating activities reflected our net loss of $45.8 million”
Operating cash used: $49.6 million
From the filing for Operating cash used
“During the six months ended June 30, 2026, the Company used $ 49.6 million in cash for operating activities.”
2026 Private Placement: 5,000,000 shares at $14.00 per share
From the filing for 2026 Private Placement
“the 2026 Private Placement of 5,000,000 shares of the Company's Class A common stock at a purchase price of $14.00 per share”
2026 Private Placement net proceeds: approximately $65.4 million
From the filing for 2026 Private Placement net proceeds
“The aggregate net proceeds from the 2026 Private Placement were approximately $65.4 million”
Liquidity: $38.8 million cash and $52.9 million marketable securities
From the filing for Liquidity
“cash and cash equivalents of $38.8 million and marketable securities of $52.9 million”
Satellites launched in 2026: 29 satellites across three missions
From the filing for Satellites launched in 2026
“As of July, we have launched 29 satellites across three missions in 2026.”

Why it mattersThe filing shows Spire's revenue and revenue base shrinking after the Maritime Transaction while the company raised $65.4 million to fund continued operating losses. It also discloses that disclosure controls remained not effective due to material weaknesses.

Filed: Aug 13, 2026
Accepted: 2026-08-13 11:17Z
Period: Jun 30, 2026
Accession no.: 0001193125-26-347865
Size: 18.0 MB
Index: Filing index

Summary

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