SPIR · 10-K filed 19 Mar 2026 · year to 31 Dec 2025

Spire Global

27 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

NASA

earns from · typically 50% of the total costsnamed as a risk

We usually fund a portion of the research ourselves and bill the customer, a government agency like ESA or NASA, the other portion, typically 50% of the total costs.Risk factors (Item 1A)

Also named by BA, LHX, LMT, NOC, RKLB, TDY

Government customers (three)

earns from · Approximately 43% of revenuenamed as a risk

Approximately 43% of revenue for the year ended December 31, 2025, was generated by three government customers.Risk factors (Item 1A)

Also named by AVGO, DDOG, HASI, MSFT

European Space Agency (ESA)

earns from · typically 50% of the total costsnamed as a risk

We usually fund a portion of the research ourselves and bill the customer, a government agency like ESA or NASA, the other portion, typically 50% of the total costs.Risk factors (Item 1A)

U.S. federal government

earns fromnamed as a risk

We retained certain maritime operations related to our U.S. federal government customers, including certain AIS-based vessel tracking services.Business (Item 1)

Also named by ACN, ADSK, AKAM, AMRC, APG, CACI, CBRE, CI and 25 more

Public Services and Procurement Canada

earns fromnamed as a risk

For example, on March 2, 2026, we received from Public Services and Procurement Canada a Stop Work Order Notice, suspending work effectively immediately until further notice, pursuant to that certain contract, dated January 20, 2025, relating to the design and development of the WildFireSat constellation of satellites for the Canadian Space Agency.Risk factors (Item 1A)

Suppliers

Amazon Web Services (AWS)

depends on · substantially all of the infrastructurenamed as a risk

For example, we outsource substantially all of the infrastructure relating to our platform to Amazon Web Services (“AWS”) and therefore our platform depends, in significant part, on the virtual cloud infrastructurehosted in AWS.Risk factors (Item 1A)

Also named by AAON, ABNB, ADSK, AIOT, BLK, CARR, CG, COF and 56 more

Third-party satellite launch providers

depends onnamed as a risk

We are dependent on third-party launch service providers.Risk factors (Item 1A)

Other companies

Kpler Holding SA

approximately $238.9 million

On April 25, 2025, we completed the sale of our maritime business to Kpler Holding SA for approximately $238.9 million (the “Maritime Transaction”).Business (Item 1)

Competitors

Aireon LLC

competes withnamed as a risk

Some of our primary competitors include Aireon LLC in our aviation data vertical, PlanetiQ with respect to our radio occultation data services in our weather and climate data vertical, and HawkEye360 in our space reconnaissance vertical.Business (Item 1)

PlanetiQ

competes withnamed as a risk

HawkEye360

competes withnamed as a risk

Muon Space

competes withnamed as a risk

We also compete with companies such as Muon Space for our Space Services solution.Business (Item 1)

Places

United Kingdom

concentrated in · single manufacturing facilitynamed as a risk

We primarily manufacture our satellites in-house at a single manufacturing facility in the United Kingdom.Risk factors (Item 1A)

Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more

Hazards

Solar cycle

named as a risk

Increased solar activity leads to heightened atmospheric drag on satellites, accelerating their orbital decay and causing earlier deorbiting, which can render satellites inoperative or result in complete loss due to burn-up during re-entry into the lower atmosphere.Risk factors (Item 1A)

Commodities and inputs

Euro

exposed to its price · approximately $2.0 millionnamed as a risk

Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, British Pound Sterling, Singapore Dollar, and Canadian Dollar and may be adversely affected in the future due to changes in foreign currency exchange rates.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

British Pound Sterling

exposed to its pricenamed as a risk

Also named by AMG, BGC, BKNG, CBRE, CTRE, FCFS, FDS, FIS and 31 more

Satellite insurance

exposed to its pricenamed as a risk

The price, terms, and availability of satellite insurance has increased significantly in recent years.Risk factors (Item 1A)

Regulators

U.S. Securities and Exchange Commission (SEC)

subject tonamed as a risk

In addition, in July 2025, we received a subpoena from the SEC seeking records relating to, among other matters, the restatement, our historical accounting policies and practices, our ICFR, disclosure controls and procedures, and material weaknesses therein, and the premature filing of our Annual Report on Form 10-K for the year ended December 31, 2024.Risk factors (Item 1A)

Also named by AB, ADSK, AMG, AMP, ARCC, ARES, BAM, BCSF and 44 more

Federal Communications Commission (FCC)

subject tonamed as a risk

Our business requires licenses and permits from the Federal Communications Commission (“FCC”) and review by other agencies of the U.S government as well as from non-U.S. regulators and governments.Business (Item 1)

Also named by AIOT, AMT, ANET, ASTS, CCI, CMCSA, DIS, ECHO and 26 more

New York Stock Exchange (NYSE)

subject tonamed as a risk

For example, on November 25, 2025, we received written notice from NYSE that we were not in compliance with the NYSE’s continued listing standards as set forth in Section 802.01E of the NYSE Listed Company Manual due to the Company’s failure to timely file with the SEC its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025.Risk factors (Item 1A)

Also named by BR, GSBD, ICE, NDAQ, QBTS

International Telecommunication Union (ITU)

subject tonamed as a risk

Any ITU or local reallocation of radio frequency bands, including frequency band segmentation and sharing of spectrum, or other modifications of the permitted uses of relevant frequency bands, may materially and adversely affect the utility and reliability of our platform and have significant negative impacts on our customers, both of which could reduce demand for our platform.Risk factors (Item 1A)

Also named by ASTS, ECHO, VSAT

National Telecommunications and Information Administration

subject tonamed as a risk

In the U.S., the FCC and the National Telecommunications and Information Administration share responsibility for radio frequency allocations and spectrum usage regulations.Risk factors (Item 1A)

Also named by IONQ, ZBRA

Laws and programs

General Data Protection Regulation (GDPR)

subject tonamed as a risk

Further, following the withdrawal of the United Kingdom from the European Union and the EEA and the end of the transition period, we have to comply with the GDPR and separately the GDPR as implemented in the United Kingdom, which, together with the amended UK Data Protection Act 2018, retains the GDPR in UK national law.Business (Item 1)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

Export Administration Regulations (EAR)

subject tonamed as a risk

In many cases, our data, services, and technology are or may in the future be subject to U.S. export control laws and regulations including the Export Administration Regulations (“EAR”) and International Traffic In Arms (“ITAR”), and subject to trade and economic sanctions maintained by the Office of Foreign Assets Control (“OFAC”).Business (Item 1)

Also named by ADI, ALAB, AMD, APP, ARW, AVGO, CARR, CDRE and 40 more

International Traffic in Arms Regulations (ITAR)

subject tonamed as a risk

In many cases, our services are or may in the future be subject to U.S. export control laws and regulations including the EAR and ITAR, and subject to trade and economic sanctions maintained by OFAC.Risk factors (Item 1A)

Also named by ACHR, ADI, AIR, ALSN, APH, AVAV, CDRE, CLS and 29 more

U.S. federal small business program

subject tonamed as a risk

We have certain contracts which were awarded to us as part of the U.S. federal government’s small business program.Risk factors (Item 1A)

Technology

GPS and Galileo frequencies

depends onnamed as a risk

Our platform also uses other radio frequency bands, such as the GPS and Galileo frequencies, together with the GNSS signal, to provide enhanced GNSS capabilities, such as near real-time kinematics precision.Risk factors (Item 1A)