Spire Global, Inc. (NYSE:SPIR) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET

Company Participants

Ben Hackman - Head, IR

Peter Platzer - CEO

Tom Krywe - CFO

Conference Call Participants

Austin Moeller - Canaccord Genuity

Erik Rasmussen - Stifel

Ric Prentiss - Raymond James

Jeff Meuler - Baird

Operator

Greetings, and welcome to Spire Global's Second Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Ben Hackman, Head of IR. Please go ahead.

Ben Hackman

Thank you. Hello, everyone, and thank you for joining us for our second quarter 2023 earnings conference call. Our earnings press release and SEC filings can be found on our IR website at ir.spire.com. A replay of today's call will also be made available. With me on the call today is Peter Platzer, CEO; and Tom Crewe, CFO.

As a reminder, our commentary today will include non-GAAP items. Reconciliations between our GAAP and non-GAAP results as well as our guidance can be found in our earnings press release. Some of our comments today may contain forward-looking statements that are subject to risks, uncertainties and assumptions. In particular, our expectations around our results of operations and financial conditions are uncertain and subject to change. Should any of these expectations fail to materialize or should our assumptions prove to be incorrect, actual company results could differ materially from these forward-looking statements. A description of these risks, uncertainties and assumptions and other factors that could affect our financial results is included in our SEC filings.

With that, let me hand the call over to Peter.

Peter Platzer

The second quarter was another quarter of strong growth and progress towards profitability. In addition to Spire adding another quarter to our unbroken record of quarterly revenue growth since becoming public, we exceeded expectations by delivering more revenue and stronger margins than anticipated. Alongside our strong results, we continue to see broad-based demand for our solutions. We signed another 32 solution customers achieving nearly $113 million in ARR and yet again increased our rolling 12 months organic net retention rate to 117%. Based on first half results that exceeded our guidance and market expectations, we are thrilled to improve our margin guidance for the full year and share these important anticipated milestones. We expect to generate positive cash flow from operations during the fourth quarter of this year.