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VIENNA, Va. - Spire Global, Inc. (NYSE:SPIR), currently valued at $349 million and trading near $11.24, has secured a $1.2 million, two-month task order extension from NASA to continue providing Earth observation data through the Commercial Satellite Data Acquisition (CSDA) Program, the company announced Tuesday. According to InvestingPro data, the stock has experienced significant volatility, declining nearly 9% in the past week.
The extension follows a $6.7 million, 12-month task order awarded in August 2024. Under the agreement, Spire will continue delivering Earth observation data, including GNSS radio occultation, GNSS Reflectometry, and space weather measurements.
Spire has been a vendor for NASA’s CSDA Program since its inception in 2018. The data provided by the company supports U.S. government-funded research aimed at improving global weather forecasting, atmospheric profiling, and climate research.
Spire Global operates a satellite constellation that observes Earth using radio frequency technology. The company collects data on global weather, ship and plane movements, and detection of spoofing and jamming activities.
The information in this article is based on a press release statement from Spire Global.
In other recent news, Spire Global announced the launch of its Aircraft Exposure Analytics platform, which provides detailed insights into aircraft-level exposure to hazardous weather conditions. This platform uses flight trajectories and global weather alerts to offer metrics that could assist in predictive maintenance and operational planning. Additionally, Spire Global secured a position on a $237 million U.S. Space Force contract, allowing the company to contribute to the development of new space technologies over a 10-year period.
Analysts at Stifel have maintained a Buy rating on Spire Global, adjusting the stock’s price target to $17.00 following better-than-expected first-quarter results. The company recently bolstered its financial position by completing the sale of its Maritime division, resulting in $136 million in cash and no debt. Canaccord Genuity also reaffirmed a Buy rating, raising the price target to $16.00, citing the sale as a risk-reducing move. Spire Global aims for 20% organic growth by 2026 and is focusing on expanding its Space Reconnaissance segment.
Management has expressed optimism about future revenue growth, driven by partnerships and contracts with entities like the U.S. Space Force and NOAA. The company is also targeting profitability with positive cash flow expected in the latter half of 2025, according to recent analyst insights.
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