Spire Global Inc. Class A Common Stock (SPIR)

FairStock Score: 67/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable economics and a margin of safety. Spire offers satellite-based data and analytics in defense, aviation, weather and climate—interesting niches, but the filed numbers show a fragile business. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $18.0M and net loss was $20.0M, or diluted EPS of -$0.52. In fiscal Q2 2025, the quarter ended 2025-06-30, reported net income was $119.6M, but later quarters returned to losses, so I cannot treat that as steady earning power. FY2025 revenue was $71.6M, down from $110.5M in FY2024, while FY2025 net income was $51.3M versus a $103.4M loss in FY2024. Recent quarters have returned to losses, and trailing free cash flow was -$99.6M, a -27.3% FCF yield on the $365.3M market cap. At the 2026-10-13 close of $9.54, FairStock’s calculated P/E is -3.28, P/B is 3.51, ROE is -61.72%, and ROCE is -22.02%. The balance sheet has low reported leverage—D/E of 0.07—but the Piotroski F-Score of 3/9 and Altman Z-Score of -0.56 signal weak financial quality. FairStock calls it a TURNAROUND because it returned to profit after a loss within the last three years, yet the current income statement and cash burn leave little margin of safety. Without evidence of durable positive earnings and cash flow, this looks like speculation on a business inflection, not a Graham-style bargain.

In plain English: Spire Global uses satellites to sell data and analytics for defense, aviation, and weather customers. The business is currently losing money, with recent quarterly losses and negative cash flow outweighing a profitable reported fiscal 2025. At the recent price of $9.54, the shares look expensive relative to today’s losses and book value, so the case depends on a future turnaround rather than current results.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K/A (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer