SPIRE GLOBAL Reports Third Quarter FY2023 Earnings Results for Period Ending November 8 2023
November 30, 2023
🌥️Earnings Overview
SPIRE GLOBAL ($NYSE:SPIR) announced its financial results for the third quarter of FY2023, which ended on November 8 2023, on September 30 2023. Total revenue for the period increased 33.8% from the same quarter the year prior, reaching USD 27.3 million, while net income improved from -21.8 million to -17.8 million.
Stock Price
On Wednesday, SPIRE GLOBAL reported its earnings results for the third quarter of its fiscal year 2023, ending on November 8, 2023. The company achieved a 14.4% increase in its stock price, with shares opening at $4.1 and closing at $4.7. This was a significant jump from its prior closing price of $4.1, representing a new all-time high for the company’s shares. This was driven by strong growth in its platform services and sensor products businesses, as well as increased demand for its satellite analytics services. SPIRE GLOBAL’s strong performance was attributable to its extensive investments in research and development, which have enabled it to launch a variety of new products and services that have been well received by customers.
In addition, the company’s ability to successfully monetize data has enabled it to increase its margins and profitability. Overall, SPIRE GLOBAL’s third quarter FY2023 earnings results demonstrate the company’s consistent track record of delivering strong financial performance and shareholder value. With the continued expansion of its product and service portfolio, SPIRE GLOBAL looks poised for further growth in the coming quarters. Live Quote…
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 |
| 100.36 | -69.28 | -71.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Spire Global. More…
| Operations | Investing | Financing |
| -32.84 | -23.43 | 29.18 |
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 |
| 256.01 | 178.52 | 3.72 |
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 |
| – | – | -50.4% |
| FCF Margin | ROE | ROA |
| -59.3% | -37.0% | -12.3% |
Analysis
At GoodWhale, we have conducted an analysis of SPIRE GLOBAL‘s financials. According to Star Chart, SPIRE GLOBAL is classified as ‘cheetah’, this type of company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Therefore, investors that aim to benefit from the company’s rapid growth, while taking a risk on the lack of stability, may be interested in such a company. SPIRE GLOBAL appears to be strong in growth but weak in asset, dividend, and profitability. However, it has an intermediate health score of 4/10 with regard to its cashflows and debt, which suggests that it is likely to be able to sustain future operations even in times of crisis. More…
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
SPIRE GLOBAL reported strong revenue growth for the third quarter of FY2023, with total revenue up 33.8% year over year to USD 27.3 million. Net income was -17.8 million compared to -21.8 million in the same period last year, representing a positive trend. The market responded positively, with the stock price moving up on the news.
Based on this information, there is potential for an investment in SPIRE GLOBAL, with its strong revenue growth and improving net income. Investors should further evaluate the company’s financials before making an investing decision.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
