Spire Global, Inc. · NYSE:SPIR
Spire Global — Q4 2023 Earnings Presentation
16 slides from Spire Global's earnings presentation, Mar 6, 2024
Slide 1: Spire Global Q4 2023 Investor Update
Spire Global Q4 2023 Investor Update March 6, 2024
Slide 2: Disclaimer and Forward-Looking Statements
DISCLAIMER AND FORWARD–LOOKING STATEMENTS This presentation contains forward-looking statements, including information about management's view of Spire’s future expectations, plans and prospects, including our views regarding future execution within our business, and the opportunity we see in our in
Slide 3: The Space Company Focused on the Future of Planet Earth
The Space Company Focused on the Future of Planet EarthTM Providing global data, analytics and space services 3 3
Slide 4: Business Update
Business Update Execution on track; Environment supportive of Results exceeding expectations Spire’s solutions Strong Q4 2023 results Growing focus on climate change > 10th consecutive quarter of revenue growth > AI models producing forecasts of similar or > Lowest GAAP operating loss; 50% YoY impro
Slide 5: Spire weather prediction models deliver decision insights
Spire weather prediction models deliver decision insights Forecasts from Spire’s high-resolution model can be accessed before publicly available models, allowing our users to make decisions concerning the weather faster. 5 5
Slide 6: Sustainable Growth, Driven by Diverse Solutions
Sustainable Growth, Driven by Diverse Solutions Revenue GAAP Gross Margins Non-GAAP Gross Margins 1 ($M) (%) (%) 110.0 105.7 75% 75% 64% 100.0 60% 55% 50% 90.0 50% 50% 80.3 80.0 70.0 25% 25% 2022 2023 2022 2023 2022 2023 32% growth 10 percentage point 9 percentage point improvement improvement 6 1 N
Slide 7: Leveraged Cost Structure, Driving Towards Profitability
Leveraged Cost Structure, Driving Towards Profitability 1 GAAP Operating Loss Non-GAAP Operating Loss Adjusted EBITDA 1 ($M) ($M) ($M) 0.0 0.0 5.0 Q4'22 Q4'23 Q4'22 Q4'23 2.1 (5.0) (5.0) (3.6) 0.0 (10.0) (8.2) Q4'22 Q4'23 (10.0) (5.0) (15.0) (10.2) (16.3) (20.0) (15.0) (10.0) (7.3) 50% improvement 6
Slide 8: Strong Execution, Leading to Sustainable Cash Generation
Strong Execution, Leading to Sustainable Cash Generation Operating Cash Flow Capital Expenditures Free Cash Flow 1 ($M) ($M) ($M) 10.0 0.0 0.0 Q3'23 Q4'23 Q3'23 Q4'23 5.0 4.1 (5.0) (5.0) (2.2) 0.0 (6.3) (10.0) Q3'23 Q4'23 (10.0) (5.0) (15.0) (5.1) (11.0) (10.0) (15.0) (20.0) (16.2) $9.2M improvement
Slide 9: From Concept to Constellation
From Concept to Constellation Proven. Faster. Scalable. Spire Space Services allows customers to deploy and scale their own constellation at maximum speed with minimum risk, by leveraging Spire’s proven space platform, global ground station network, end- 9 to-end manufacturing facility, and extensiv
Slide 10: Strong Operational Leverage Driving Transition to Profitability
Strong Operational Leverage Driving Transition to Profitability 10 1 Non-GAAP financial measure, please see reconciliation tables at the end of this presentation for reconciliation to the most directly comparable GAAP measure
Slide 11: Space Services Contract Structure Provides Strong Cash Generation from Deployed Assets
Space Services Contract Structure Provides Strong Cash Generation from Deployed Assets 11 Representative Space Services deal
Slide 12: Spire SaaS Metrics Compare Very Favorably But Trades at a Discount
Spire SaaS Metrics Compare Very Favorably But Trades at a Discount Revenue Growth 40% (%) Enterprise Value/ Revenue Multiple 32% 30% 19% 20% 10% 0% 7X–7.5X SPIR Median Public Market SaaS Median Public Market SaaS Customer Lifetime Value to Cost of Acquisition 20 (LTV/CAC) 15 10 12x 3X–3.5X 5 3x SPIR
Slide 13: Spire collects data once and provides a full spectrum of insights for multiple use cases
Spire collects data once and provides a full spectrum of insights for multiple use cases Maritime vessel position, type, speed, heading….nearly 30 different attributes for hundreds of thousands of vessels, which provides decision insights into how global security or weather events 13 13 impact globa
Slide 14: 2024 Guidance Underscores Business Inflection
2024 Guidance Underscores Business Inflection Full Year Guidance Full Year 2024 Q1 2024 Guidance Improvement from Guidance 2023 Results Revenue (millions) $27.0 - $29.0 $138.0 - $148.0 +35% mid-point Non-GAAP Operating (Loss) Income 1 ($8.0) - ($6.0) ($5.5) - $2.5 +$24.3M mid-point (millions) 1 Adju
Slide 15: Thank you!
Thank you! From our team, to yours. 15
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation In addition to financial measures prepared in accordance with GAAP, this presentation contains non-GAAP financial measures, including free cash flow, non-GAAP operating loss, non-GAAP operating margin, non-GAAP gross margin, non-GAAP loss per share, EBITDA, Adjusted E