SPIRE GLOBAL Reports 36.5% Increase in Q2 Earnings for FY2023 with USD 26.5 Million in Total Revenue
August 17, 2023
☀️Earnings Overview
On August 9 2023, SPIRE GLOBAL ($NYSE:SPIR) reported their Q2 earnings results for FY2023, showing total revenue at USD 26.5 million – a 36.5% increase from the same period in the prior fiscal year. Net income showed a significantly improved result of USD -16.3 million compared to the -40.5 million posted in the same quarter of the prior year.
Analysis
GoodWhale’s analysis of SPIRE GLOBAL‘s fundamentals has revealed that the company is a medium risk investment when considering financial and business aspects. This was determined by GoodWhale’s Risk Rating which assesses factors such as asset quality, liquidity and debt structure. From our analysis, GoodWhale has detected two risk warnings in the balance sheet and cashflow statement of SPIRE GLOBAL. If you would like to get more information on the risk warnings and other insights into SPIRE GLOBALS’s fundamentals, please register with us to find out more. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Spire Global. More…
| Total Revenues | Net Income | Net Margin |
| 93.46 | -73.29 | -80.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Spire Global. More…
| Operations | Investing | Financing |
| -37.92 | -18.85 | 28.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Spire Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 268.36 | 174.83 | 0.64 |
Key Ratios Snapshot
Some of the financial key ratios for Spire Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -59.3% |
| FCF Margin | ROE | ROA |
| -61.0% | -37.0% | -12.9% |
Peers
The company’s competitors include Anacomp Inc, NorCom Information Technology GmbH & Co KGaA, and Efficient E-Solutions Bhd.
– Anacomp Inc ($OTCPK:ANMP)
Anacomp Inc has a market cap of 3.74M as of 2022, a Return on Equity of 55.96%. The company provides information technology solutions and services. It offers data storage, data security, and cloud solutions. The company also provides software development, systems integration, and application management services.
– NorCom Information Technology GmbH & Co KGaA ($LTS:0QY2)
NorCom Information Technology GmbH & Co KGaA is a Germany-based company that provides IT services. It has a market cap of 11.97M as of 2022 and a Return on Equity of -5.52%. The company offers a range of services, including consulting, software development, and infrastructure services.
– Efficient E-Solutions Bhd ($KLSE:0064)
Efficient E-Solutions Bhd is a Malaysian company that focuses on providing e-commerce solutions. As of 2022, its market cap is 131.19M and its ROE is -1.3%. The company has been facing some difficulties lately, which is reflected in its ROE. However, it is still a major player in the e-commerce solutions industry in Malaysia.
Summary
Investors interested in SPIRE GLOBAL have cause for optimism after the company reported its Q2 FY2023 earnings results on August 9th. Total revenue was up a significant 36.5% year-on-year to USD 26.5 million, and net income improved drastically from -40.5 million to -16.3 million. Despite the positive news, the stock price dropped on the same day, suggesting that the market has yet to take into account the improved performance. Going forward, investors should continue to monitor the company’s financials and progress to best inform their investment decisions.
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