Spire Global, Inc. (NYSE:SPIR) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET

Company Participants

Ben Hackman - Head, IR

Peter Platzer - CEO

Leo Basola - CFO

Conference Call Participants

Austin Moeller - Canaccord Genuity

Erik Rasmussen - Stifel

Rick Prentiss - Raymond James

Stephen Bolligon - Baird

Operator

Greetings, and welcome to Spire Global's Third Quarter 2023 Conference Call. Our host for today's call is Ben Hackman, head of investor relations. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session

I would now like to turn the call over to your host. Mr. Hackman, the floor is yours.

Ben Hackman

Thank you. Hello, everyone, and thank you for joining us for our third 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 Leo Basola, 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 and in our investor presentation, both of which can be found on our IR website at ir.spire.com. Some of our comments today may contain forward-looking statements that are subjects 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

Thank you, Ben. The third quarter was yet another quarter of strong revenue growth and steady progress towards profitability. Spire added a ninth quarter to our consecutive uninterrupted record of revenue growth since becoming public. Additionally, we exceeded expectations by delivering more revenue than anticipated, while continuing to drive operational leverage and increase non-GAAP gross margins to nearly 70%. We are holding firm on our now near-term timeline to profitability as becoming operating cash flow positive, adjusted EBITDA positive, and free cash flow positive remain some of the most important near-term objectives for Spire.