Spire Global restates financials for FY2022-2023 and certain quarters; NYSE non-compliance notice

Spire Global, Inc.

Audit committee concludes 2022, 2023 annual and 2022-2024 quarterly financials can no longer be relied upon due to revenue recognition errors.
Estimated annual revenue impact of $10-15M from incorrect pre-space mission activity revenue; no cash flow impact expected.
NYSE notified company of non-compliance for late Q2 2024 10-Q; deadline to file is February 19, 2025.
Company plans to file amended periodic reports and Q2 2024 10-Q within the six-month cure period.
Management evaluating possible material weaknesses in internal controls; will be disclosed in amended filings.

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