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VIENNA, Va. - Spire Global, Inc. (NYSE: SPIR), a provider of space-based data and analytics with a market capitalization of $224 million, announced the appointment of Alison Engel as its new Chief Financial Officer, effective April 1, 2025. Engel brings nearly two decades of experience as a CFO to the company, having held similar roles at LeaseAccelerator, Inc., Gannet, and DallasNews Corporation. The appointment comes as the company faces financial challenges, with EBITDA at -$23.2 million in the last twelve months.
Engel’s appointment is part of Spire’s strategy to strengthen its leadership team as it navigates a dynamic industry ripe with innovation and growth opportunities. Despite current challenges, the company has achieved impressive revenue growth of 31% over the last twelve months. Spire CEO Theresa Condor expressed confidence in Engel’s ability to contribute to the company’s mission of improving life on Earth with data from space. According to InvestingPro, there are 10+ additional insights available about Spire’s financial health and growth prospects.
Engel, a University of Texas at Austin alumna, will be stationed at Spire’s headquarters in Vienna, Virginia. She takes over from interim CFO Thomas Krywe, who will transition to an executive advisory role through April.
Spire operates a satellite constellation that provides real-time global weather intelligence, maritime and aviation tracking, and detection of spoofing and jamming. The company also offers Space as a Service solutions, allowing customers to utilize its infrastructure for space-based business operations.
This leadership change comes as Spire continues to emphasize the importance of reliable financial governance and strategic business partnership in its pursuit of capitalizing on the potential of space-based data. Analysts maintain optimistic price targets ranging from $13 to $24, suggesting potential upside from current levels, though InvestingPro data indicates the stock has experienced significant volatility in recent months.
The information in this article is based on a press release statement from Spire Global, Inc.
In other recent news, Spire Global has announced significant advancements in weather forecasting technology with the launch of two AI-driven models, AI-WX and AI-S2S. These models, developed using NVIDIA’s Omniverse Blueprint for Earth-2, offer medium-range and sub-seasonal weather forecasts up to 45 days and operate 1,000 times faster than traditional models. This development is expected to impact various industries, including energy and commodities, by providing rapid and accurate weather predictions. Additionally, Spire Global has secured $40 million through a private placement, issuing 5 million shares of Class A common stock at $8.00 per share. The proceeds are intended for working capital and general corporate purposes. Meanwhile, Canaccord Genuity has adjusted its price target for Spire Global shares to $14.50, down from $15.00, while maintaining a Buy rating, citing a temporary capital measure related to the Kpler transaction. Stifel analysts have also maintained a Buy rating on Spire Global, with a price target of $20, highlighting the company’s AI innovations. The recent developments underscore Spire Global’s ongoing efforts to enhance its technological capabilities and financial stability.
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