Spire Global, Inc. · NYSE:SPIR
Spire Global — Q1 2023 Earnings Presentation
14 slides from Spire Global's earnings presentation, May 10, 2023
Slide 1: Spire Global Q1 2023 Investor Update
Spire Global Q1 2023 Investor Update May 10, 2023
Slide 2: Disclaimer and Forward-Looking Statements
DISCLAIMER AND FORWARD–LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future performan
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
Slide 4: Business Update
Business Update Spire Macro Economic Record Q1 2023 results as a public company Banking system concerns > Highest dollar revenue – 34% YoY growth > Several high-profile bank failures > Tightening lending standards > Lowest operating loss – 28% YoY improvement > Improving operating margin – 51 pt imp
Slide 5: Spire provides solutions within the $3.4 billion market
Spire provides solutions within the $3.4 billion inventory optimization, logistics, and visualization 5 & reporting market
Slide 6: Growth Driven by Recurring Revenue
Growth Driven by Recurring Revenue Revenue ($M) Annual Recurring Revenue ($M) ARR Solution Customers 25.0 24.2 800 781 104.8 105.0 34% 25% 700 growth 95.0 28% 627 growth 20.0 growth 18.1 85.0 81.6 600 15.0 75.0 500 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 6
Slide 7: Shadow fleet has grown to ~600 vessels
Industry experts estimate that the shadow fleet has recently grown substantially to ~600 vessels, comprising 10% of the world’s crude and 7% of its product tankers 7
Slide 8: Leveraged Cost Structure Driving Towards Profitability
Leveraged Cost Structure Driving Towards Profitability GAAP Operating Loss Non-GAAP Operating Loss Adjusted EBITDA 1 1 ($M) ($M) ($M) 0.0 0.0 0.0 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 (5.0) (5.0) (5.0) (10.0) (6.7) (15.0) (14.5) (10.0) (10.0) (20.0) (9.8) (9.7) (20.0) 28% 24% 31% (25.0) (15.0) (12.8)
Slide 9: Commercial shipping overlaps with whale shark movements
Commercial shipping activities overlap with 90 percent of whale shark movements and shipping operators that implement measures to prevent whale ship-strikes can receive 9 whale safe certifications
Slide 10: Expanding Subscription Business with Attractive Margin Structure
Expanding Subscription Business with Attractive Margin Structure 10
Slide 11: Ship repair and maintenance market expected to grow 6-7%
With increasing trade, the ship repair and maintenance market is expected to grow between 6-7% over the next decade 11
Slide 12: 2023 Guidance
2023 Guidance Q2 2023 2023 Guidance Guidance (No Change to 2023 Guidance) 2 Revenue (millions) $24.0 - $25.0 $104.0 - $109.0 ARR (millions) $112.5 - $113.5 $129.0 - $135.0 ARR Solution Customers 800 - 810 835 – 885 Non-GAAP Operating Loss 1 ($9.8) - ($8.8) ($34.0) - ($29.0) (millions) Adjusted EBITD
Slide 13: Thank you!
Thank you! From our team, to yours. 13
Slide 14: 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, EBITDA, and Adjusted EBITDA. Spire’s management uses these non-GAAP financial measures intern