Spire Global Grows On Strong 2022 Forecasts

Spire Global collects data related to space, aviation, and weather using a constellation of nanosatellites and provides them to special organizations. It is considered to be one of the largest companies in this field and is valued at $346.262 million and operates 110 CubeSats. It has launched more than 140 satellites of its own design throughout its activities. Its SPIR stock fell to $2 on January 28 but surged 19% to $2.49 on the last day of official trading. The current price is up 9% thanks to its strong guidance for this year.

According to Spire Global’s Q4 and 2021 Unaudited Results Report, the 3-month expected revenue is $15.3 million, showing a 111% growth from Q4 2021, while YoY revenue will rise by $23.1 million to $43.7 million from 2020. Based on these forecasts, Spire Global expects 2022 revenue to be in the range of $85-90 million. According to the CEO, in 2021, the company was able to establish a solid market position thanks to the acquisition of ExactEarth and the increase in the number of customers to 500.