Slide 1: Q1 2026 Earnings & Investor Update
Spire Global Q1 2026 Earnings & Investor Update Turning Space Data into Actionable Intelligence May 2026 | NYSE: SPIR Satellite Data · Analytics · Intelligence
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements, including information about management’s view of Spire’s future financial results and guidance, expectations, plans and prospects, including our views regarding future execution within our business, and the opportunity
Slide 3: Q1 2026 Highlights
Q1 2026 Highlights $15.8M 13% 19 ($10.2M) * * GAAP Revenue Core Revenue Growth Satellites Deployed Adjusted EBITDA Year-over-year (ex- Above top end of guidance Across 2 launches in Q1 Above high-end guidance Maritime) Key Achievements • First light achieved on Hyperspectral Microwave Sounder (HyMS)
Slide 4: Three Converging Tailwinds
Three Converging Tailwinds Defense & Intelligence Civil Agencies Shifting to AI Driving Commercial Spending Surging Commercial Data Adoption at Scale • FY2027 U.S. Administration • NOAA $8B IDIQ — Spire qualifies • Customers embedding Spire data defense budget request: $1.45T for 4 of 7 data types i
Slide 5: Civil Government: Weather Data Opportunity
Civil Government: Weather Data Opportunity NOAA $8B IDIQ Commercial MWS Data Covers 7 data types - Spire delivers 4 with existing infrastructure Microwave sounder data is the most impactful source for forecast (GNSS-RO, GNSS-R, MWS, TND (“space weather”)). Active accuracy. Spire's HyMS captures more
Slide 6: RF Geolocation: From Milestone to Revenue
RF Geolocation: From Milestone to Revenue 5 3 Technical Milestones New RFGL orders New international from U.S. customers RFGL customers signed • 6 new satellite pairings added, expanding RFGL capacity 6 • Single-satellite geolocation demonstrated for S-band and X-band — frequencies critical to defen
Slide 7: First Quarter 2026 Non-GAAP Results
First Quarter 2026 Non-GAAP Results Core Business Revenue Non-GAAP Gross Margin Adjusted EBITDA 13% YoY / 1% Sequential Growth 44% — Up 5pts YoY, 1pt Sequential ($10.2M) — $1M above high-end guidance YoY core revenue improvement primarily driven by increased YoY improvement primarily driven by lower
Slide 8: 2026 Outlook
2026 Outlook Full Year 2026 Guidance (in millions, except percentages and per share amounts) Revenue $75.0 - $85.0 Maritime revenue $3.7 - $3.7 Revenue excluding maritime $71.3 - $81.3 Revenue excluding maritime Y/Y change 41% - 61% Non-GAAP Operating Loss ($37.8) – ($32.6) Adjusted EBITDA ($26.0) –
Slide 9: Path to Profitability
Path to Profitability Fixed Cost Base Revenue Acceleration Operating Leverage Satellites are in orbit. Ground H2 2026 drivers: follow-on RO Every new contract and renewal infrastructure is built. Engineering contract, HyMS microwave data sales, accelerates our cash flow goals. teams are in place. In
Slide 10: Thank You
Thank You Trusted space-based intelligence for a safer, optimized, resilient world NYSE: SPIR Satellite Data · Analytics · Intelligence
Slide 11: Non-GAAP Reconciliation
Non-GAAP Reconciliation Year Ended Three Months Ended December 31, March 31, December 31, March 31, 2025 2025 2025 (Unaudited) Total revenue $ 71,553 $ 15,834 Year-over-year change (34)% Sequential change 0% Maritime revenue $ 20,974 $ 1,916 Revenue excluding maritime $ 50,579 $ 13,918 Year-over-yea
Slide 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation Q1'25 Q4'25 Q1'26 (Unaudited) Gross Margin (GAAP) 36% 41% 40% Adjustments: Exclude stock-based compensation 0% 0% 1% Exclude amortization of purchased intangibles 2% 2% 2% Exclude other acquisition accounting amortization 1% 0% 0% Exclude other unusual and infrequent costs 0%
Slide 13: Non-GAAP Reconciliation
Non-GAAP Reconciliation Q1'25 Q4'25 Q1'26 (Unaudited) Net loss (GAAP) $ (23,515) $ (25,094) $ (25,843) Depreciation and amortization 4,413 2,911 3,018 Interest, net 5,710 (755) (474) Income tax (benefit) provision (6) 1,818 55 EBITDA (13,398) (21,120) (23,244) Change in fair value of contingent earn