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VIENNA, Va. - Spire Global, Inc. (NYSE:SPIR), a $274 million market cap company with annual revenue of $99.5 million, has been awarded a $2.5 million contract by the National Oceanic and Atmospheric Administration (NOAA) to provide satellite weather data focused on ocean surface winds, the company announced in a press release.
The 9-month contract, beginning September 10, 2025, is part of NOAA’s Commercial Weather Data Pilot (CWDP) Ocean Surface Winds Pilot Study. Under the agreement, Spire will deliver Global Navigation Satellite System Reflectometry (GNSS-R) data in near real-time to help measure ocean surface wind speeds. According to InvestingPro data, this contract comes at a crucial time as the company faces cash burn challenges, with a negative free cash flow yield in recent quarters.
NOAA will evaluate how these commercial satellite observations can enhance weather forecasting models and advance climate research. The data is expected to improve hurricane prediction, winter storm tracking, and marine forecasts.
"Ocean wind data is essential for improving forecasts, tracking severe storms, and advancing climate research," said Theresa Condor, Chief Executive Officer at Spire Global, according to the statement.
The contract will be executed in two phases: Data Delivery and Evaluation. The pilot will assess GNSS-R’s capability to capture stronger tropical cyclone winds, with results intended to inform future NOAA initiatives for integrating commercial satellite data into weather and climate applications.
Spire Global operates a satellite constellation that observes Earth using radio frequency technology. The company provides data on global weather intelligence, ship and plane movements, and detection of spoofing and jamming activities. InvestingPro analysis reveals 10+ additional key insights about Spire’s financial health and market position, available in the comprehensive Pro Research Report, which transforms complex Wall Street data into actionable intelligence for smarter investing decisions.
In other recent news, Spire Global has received a notice from the New York Stock Exchange for non-compliance due to the late filing of its Quarterly Report for the period ending June 30, 2025. Despite this, Stifel has reiterated its Buy rating for Spire Global, maintaining a price target of $17. The company expects second-quarter revenues to range between $18 million and $19 million, aligning with the consensus estimate of $18.8 million, and it ended the quarter with a cash balance of $117.6 million. Additionally, Spire Global has secured a contract with the European Space Agency to provide historical weather data, enhancing research capabilities with its satellite intelligence. The company is also expanding its Space Reconnaissance portfolio with new radio frequency intelligence tools for global security and defense sectors. In another development, Spire Global announced that PricewaterhouseCoopers will resign as its auditor following the filing of the company’s 10-Q. The company has initiated a search for new auditors while clarifying that there were no issues affecting previously filed financial statements.
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