2023-05-10 18:34:50 ET
Spire Global ( NYSE: SPIR ) on Wednesday jumped in extended trading after reporting revenue and earnings that were better than estimated by Wall Street analysts. The satellite company’s stock surged as much as 36% to $0.96 a share before trimming its gain.
Revenue rose 34% from a year earlier to $24.2 million, beating the consensus estimate of $22.7 million.
Its net loss of $17.7 million was 50% deeper than the $11.8 million reported a year earlier.
Spire’s ( SPIR ) adjusted loss narrowed to $0.10 a share from $0.12 a share a year earlier, and was better than the consensus estimate of $0.11 a share.
“Coming off strong 2022 results, Spire has started 2023 with record results on the top and bottom line as we posted the strongest revenue and operating loss since becoming public,” Peter Platzer, CEO of Spire, said in a statement.
More on Spire
- Spire Global nabs NOAA contract for satellite weather data
- Spire, OroraTech to develop wildfire monitoring satellite for the Canadian Space Agency
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Spire Global’s stock surges after Q1 results beat estimates