Spire Q2 revenue $18.0M, down 6% YoY; net loss $20.0M; FY guidance reaffirmed

Spire Global, Inc.

Q2 revenue $18.0M, down 6% YoY on maritime sale; up 16% ex-maritime, up 14% sequentially.
Net loss $20.0M vs prior-year net income $119.6M; adjusted for $154.3M gain and $12.0M debt loss, loss improved 12% YoY.
Adjusted EBITDA ($8.6)M, improved 16% YoY from ($10.2)M and 15% sequentially on lower operating expenses.
GAAP gross margin fell 16 pts YoY to 34% due to WildFireSat contract cancelled for convenience in Q2; non-GAAP 38%.
Cash & equivalents $91.7M, debt-free; Q2 ops cash use $23.4M, down 32% YoY; full-year revenue guidance reaffirmed.

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