Spire Global, Inc. (NYSE:SPIR) Q1 2023 Results Conference Call May 10, 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
Andre Madrid - Bank of America
Peter Platzer - CEO
Operator
Greetings. Welcome to the Spire Global First Quarter 2023 Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.
I will now turn the conference over to your host, Ben Hackman, Head of Investor Relations. You may begin.
Ben Hackman
Thank you. Hello everyone and thank you for joining us for our first 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 Krywe, 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 first quarter was yet another quarter of growth and progress towards profitability. Spire added another quarter to our unbroken record of quarter-over-quarter revenue growth since becoming public. Additionally, margins took another step forward, as we continue on our journey to profitability.
In spite of the continuing macro headwinds, our diverse solutions are resonating with customers. We see broad-based demand for our solutions, which is reflected in our ARR, which has now increased to over $100 million. Even in challenging business environment, the margin progression we are seeing is a direct result of the cost structure we put in place, prudently sharing infrastructure and resources across our four solutions.