Spire Global, Inc. (NYSE:SPIR) Q1 2024 Earnings Conference Call May 15, 2024 5:00 PM ET
Company Participants
Ben Hackman - Head, IR
Peter Platzer - CEO
Leo Basola - CFO
Conference Call Participants
Austin Moeller - Canaccord Genuity
Jeffrey Meuler - Baird
Erik Rasmussen - Stifel
Brian Kinstlinger - Alliance Global Partners
Operator
Greetings, and welcome to the Spire Global's First Quarter 2024 Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Ben Hackman, Head of Investor Relations. Thank you, sir. You may begin.
Ben Hackman
Thank you. Hello, everyone, and thank you for joining us for our first quarter 2024 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 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. Good afternoon, everyone, and welcome to today's call. I want to start off by extending my deepest gratitude to our exceptional team dedicated to improving life on Earth with data from space. Their unwavering commitment and boundless innovations are propelling us forward, delivering industry wide firsts on a regular basis. We have grown at a compound annual growth rate of over 100% since achieving $1 million of revenue in 2017.
At the end of last year, we delivered our first quarter of positive adjusted EBITDA ahead of plan, and today we are at the doorstep of full profitability starting with continued positive adjusted EBITDA in Q2 and positive free cash flow thereafter. We aim to set the standard in our industry by being a high margin, profitable, high growth space company, something that so far has not been demonstrated.