Spire Global is a space-based data and analytics company that operates a proprietary constellation of small, multi-purpose satellites in low Earth orbit (LEO). Spire's satellites use radio frequency (RF) technology to collect signals from the Earth and atmosphere — the company does not operate in satellite imagery or satellite communications. Spire's four core solution areas are: Weather and Climate (collecting atmospheric data to improve weather forecasting, sold to national meteorological agencies like NOAA and EUMETSAT and commercial customers in energy and agriculture); Space Reconnaissance (scanning the RF spectrum to detect and geolocate radio signals for defense and intelligence customers); Aviation (collecting aircraft tracking signals globally, including over oceans where ground-based tracking is unavailable); and Space Services (designing, manufacturing, launching, and operating satellites on behalf of third parties). Spire sold its maritime vessel-tracking business to Kpler in April 2025. Spire's business model is high-fixed-cost and high-leverage — Spire builds and operates its satellite network once, then sells the resulting data to many customers, with incremental revenue carrying low marginal cost. Roughly 70% of revenue is subscription-based; the remainder comes from multi-year Space Services contracts and government data purchase agreements. Space Reconnaissance is the fastest-growing area, while Space Services has grown to represent a meaningful share of revenue, underpinned by multi-year contracts. Spire targets adjusted EBITDA and operating cash flow breakeven by no later than Q4 2026.