Filing Flows › Spire Global (SPIR) › Q2 2025
Spire Global (SPIR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Nov 4, 2025
Spire Global (SPIR) reported revenue of $19.2M for the second quarter 2025 (Q2 2025), -24% from a year earlier and -20% from the quarter before. Operating margin was -122.7%, net earnings $120M (623.4% of revenue).
Spire Global, Q2 2025: revenue $19.2M (-24% year over year), operating margin -122.7%, net earnings $120M, operating cash flow −$35.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.2M | -20% | -24% |
| Operating profit | −$23.5M | — | — |
| Net earnings | $120M | — | — |
| Operating cash flow | −$35.1M | — | — |
What changed
Revenue was $19.2M in Q2 2025, down 24% year over year and down 20% from the previous quarter.
Gross margin was 48.9%, up 5.9 points from a year earlier. Operating costs exceeded revenue by $23.5M, an operating margin of -122.7%. Operating expenses grew 41% against a revenue fall of 24%. The fastest-growing cost line was Other operating costs (+95%). Net earnings were $119.6M. The effective tax rate was 1.5%. Non-operating items added $144.9M, 119% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$35.1M. Non-cash charges added back $2.5M of depreciation and amortization and $7.2M of share-based compensation. Working capital and other items used $164.4M. Capital expenditures of $3.6M exceeded it, leaving free cash flow of −$38.7M.
Questions
What was Spire Global's revenue in the second quarter 2025?
Spire Global (SPIR) reported revenue of $19.2M for the second quarter 2025 (Q2 2025), -24% from a year earlier and -20% from the quarter before.
Was Spire Global profitable in the second quarter 2025?
Operating loss was $23.5M (-122.7% of revenue) and net earnings $120M.
Source: Spire Global 10-Q on SEC EDGAR.