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Benzinga

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Chris Katje

EXPLAINED: Why spire global shares are rocketing higher wednesday | Vintage Vibes

SPIR Spire Spire Global NYSE SPAC Spire Global Inc

Space data and analytics company Spire Global Inc (NYSE:SPIR) reported fourth quarter and fiscal year preliminary results after market close Wednesday. Here’s the highlights and why shares are racing higher.

What Happened: Spire reported fourth quarter revenue of $15 million, up 106% year-over-year. The total beat a street estimate of $13.17 million according to Benzinga Pro.

The fourth quarter total includes $1.5 million in revenue recognized from exactEarth, which the company acquired. Without the revenue recognition, fourth quarter revenue would have been up by 86% year-over-year.

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