secwatch.observer — SEC 8-K summary
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Issuer:     Spire Global, Inc. (SPIR)
CIK:        0001816017
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0000950170-24-120996
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spire Global posts record $40M Q3 bookings; restates revenue recognition for Space Services contracts
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- Record Q3 contract bookings of $40.0M; cash and marketable securities ended Q3 at $36.6M (from $45.8M start).
- Made $10.0M debt prepayment to Blue Torch; Q3 10-Q filing delayed, expects waiver discussions.
- Restating revenue: Space Services contracts now recognize revenue over data provision period, not pre-space milestones. No cash impact.
- Research & development contracts: revenue recognition changed to percentage-of-completion; costs reclassified to cost of revenue.
- NYSE cure period ends Feb 19, 2025; company expects to file restated statements and Q2/Q3 10-Qs by then.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1816017/000095017024120996/0000950170-24-120996-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1816017/000095017024120996/spir-20241104.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-120996

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