Latest news with #STEP2.0
Yahoo
17-05-2025
- Business
- Yahoo
Why Spire Global Stock Was Spiraling Higher This Week
The company signed a contract with one of the most reliable clients in this country. This got investors excited enough to shrug off a lackluster quarterly earnings report. 10 stocks we like better than Spire Global › There's nothing like a nine-figure contract to give a company some powerful bullish momentum. That's been the case over the past few days with space technology solutions company Spire Global (NYSE: SPIR), following its announcement that it won a big-ticket project from the federal government. According to data compiled by S&P Global Market Intelligence, Spire's share price was up just shy of 20% week to date as of early Friday morning as a result. After market close Wednesday, Spire announced that the U.S. Space Force had selected it, among a clutch of companies, for a 10-year contract to supply materials for satellites operated by the military branch. This is an indefinite quality/indefinite quantity contract, and it falls under the Force's Space Test Experiments Platform (STEP) 2.0 initiative. STEP 2.0 is a program that aims to speed the development of space technologies through a partnership of Space Force with private companies that specialize in such solutions. In the press release touting its inclusion in the contract, Spire quoted its director of program sales, Mark Carhart, as saying that his company's "vertically integrated approach to satellite manufacturing and mission operations offers government partners the speed, flexibility, and reliability they need to advance critical space technologies." That was exciting news for shareholders, to the point where they weren't all that bothered with an earnings report, published almost concurrently, that showed declining revenue and a bottom line still deep in the red. For its first quarter of 2025, Spire's top line fell by 31% year over year to just under $23.9 million. Non-GAAP (adjusted) net loss narrowed from $25.5 million to $20.7 million, meanwhile. Before you buy stock in Spire Global, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Spire Global wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $620,719!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,511!* Now, it's worth noting Stock Advisor's total average return is 959% — a market-crushing outperformance compared to 170% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Spire Global Stock Was Spiraling Higher This Week was originally published by The Motley Fool
Yahoo
14-05-2025
- Business
- Yahoo
Spire Global Selected for U.S. Space Force Contract with $237 Million Ceiling
Under the STEP 2.0 contract, the Company is eligible for future task orders to design, build, integrate, and operate small satellite buses for next-generation space experiments VIENNA, Va., May 14, 2025--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) ("Spire" or "the Company"), a global provider of space-based data, analytics and space services, has been selected by the U.S. Space Force's Space Systems Command for an Indefinite Delivery/Indefinite Quantity (IDIQ) contract under the Space Test Experiments Platform (STEP) 2.0 program. The 10-year contract has a ceiling of $237 million and is part of the Department of Defense's broader Space Test Program. As one of 12 companies selected for the STEP 2.0 contract, Spire is eligible to compete for future task orders to design, build, integrate and operate satellite buses that host experimental payloads. These platforms will support the rapid deployment and on-orbit demonstration of emerging space technologies, with work awarded in phases over the duration of the contract. "Spire's vertically integrated approach to satellite manufacturing and mission operations offers government partners the speed, flexibility, and reliability they need to advance critical space technologies," said Mark Carhart, Director of Program Sales at Spire Global. "We're proud to be among the companies selected for STEP 2.0 and to have the opportunity to deliver critical technology that supports rapid, on-orbit experimentation. Programs like STEP 2.0 demonstrate how commercial innovation can accelerate the deployment of next-generation capabilities for national security." STEP 2.0 is designed to streamline the process of testing space-based systems by leveraging commercial satellite providers to deliver standardized, adaptable buses capable of hosting a diverse set of sensors and instruments. The program enables faster access to space through commercial rideshare launches and supports both orbital and space station-based experiments. STEP 2.0 is the latest iteration of the Space Test Experiments Platform, part of the Department of Defense's broader Space Test Program, which has executed more than 300 missions to demonstrate and validate emerging space technologies. About Spire Global, Inc. Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire's satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has offices across the U.S., Canada, UK, Luxembourg, Germany and Singapore. To learn more, visit View source version on Contacts Spire Contacts For Media: Kristina SpychalskiHead of Communicationscomms@ For Investors: Benjamin HackmanHead of Investor
Yahoo
14-05-2025
- Business
- Yahoo
Spire Global Selected for U.S. Space Force Contract with $237 Million Ceiling
Under the STEP 2.0 contract, the Company is eligible for future task orders to design, build, integrate, and operate small satellite buses for next-generation space experiments VIENNA, Va., May 14, 2025--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) ("Spire" or "the Company"), a global provider of space-based data, analytics and space services, has been selected by the U.S. Space Force's Space Systems Command for an Indefinite Delivery/Indefinite Quantity (IDIQ) contract under the Space Test Experiments Platform (STEP) 2.0 program. The 10-year contract has a ceiling of $237 million and is part of the Department of Defense's broader Space Test Program. As one of 12 companies selected for the STEP 2.0 contract, Spire is eligible to compete for future task orders to design, build, integrate and operate satellite buses that host experimental payloads. These platforms will support the rapid deployment and on-orbit demonstration of emerging space technologies, with work awarded in phases over the duration of the contract. "Spire's vertically integrated approach to satellite manufacturing and mission operations offers government partners the speed, flexibility, and reliability they need to advance critical space technologies," said Mark Carhart, Director of Program Sales at Spire Global. "We're proud to be among the companies selected for STEP 2.0 and to have the opportunity to deliver critical technology that supports rapid, on-orbit experimentation. Programs like STEP 2.0 demonstrate how commercial innovation can accelerate the deployment of next-generation capabilities for national security." STEP 2.0 is designed to streamline the process of testing space-based systems by leveraging commercial satellite providers to deliver standardized, adaptable buses capable of hosting a diverse set of sensors and instruments. The program enables faster access to space through commercial rideshare launches and supports both orbital and space station-based experiments. STEP 2.0 is the latest iteration of the Space Test Experiments Platform, part of the Department of Defense's broader Space Test Program, which has executed more than 300 missions to demonstrate and validate emerging space technologies. About Spire Global, Inc. Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire's satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has offices across the U.S., Canada, UK, Luxembourg, Germany and Singapore. To learn more, visit View source version on Contacts Spire Contacts For Media: Kristina SpychalskiHead of Communicationscomms@ For Investors: Benjamin HackmanHead of Investor
Business Wire
14-05-2025
- Business
- Business Wire
Spire Global Selected for U.S. Space Force Contract with $237 Million Ceiling
VIENNA, Va.--(BUSINESS WIRE)-- Spire Global, Inc. (NYSE: SPIR) ('Spire' or 'the Company'), a global provider of space-based data, analytics and space services, has been selected by the U.S. Space Force's Space Systems Command for an Indefinite Delivery/Indefinite Quantity (IDIQ) contract under the Space Test Experiments Platform (STEP) 2.0 program. The 10-year contract has a ceiling of $237 million and is part of the Department of Defense's broader Space Test Program. As one of 12 companies selected for the STEP 2.0 contract, Spire is eligible to compete for future task orders to design, build, integrate and operate satellite buses that host experimental payloads. These platforms will support the rapid deployment and on-orbit demonstration of emerging space technologies, with work awarded in phases over the duration of the contract. 'Spire's vertically integrated approach to satellite manufacturing and mission operations offers government partners the speed, flexibility, and reliability they need to advance critical space technologies,' said Mark Carhart, Director of Program Sales at Spire Global. 'We're proud to be among the companies selected for STEP 2.0 and to have the opportunity to deliver critical technology that supports rapid, on-orbit experimentation. Programs like STEP 2.0 demonstrate how commercial innovation can accelerate the deployment of next-generation capabilities for national security.' STEP 2.0 is designed to streamline the process of testing space-based systems by leveraging commercial satellite providers to deliver standardized, adaptable buses capable of hosting a diverse set of sensors and instruments. The program enables faster access to space through commercial rideshare launches and supports both orbital and space station-based experiments. STEP 2.0 is the latest iteration of the Space Test Experiments Platform, part of the Department of Defense's broader Space Test Program, which has executed more than 300 missions to demonstrate and validate emerging space technologies. About Spire Global, Inc. Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire's satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has offices across the U.S., Canada, UK, Luxembourg, Germany and Singapore. To learn more, visit
