Spire Global, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations (Tables)

Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue by Geography

The following revenue disaggregated by geography was recognized:


	Three Months Ended March 31, 2024				Three Months Ended March 31, 2023
	(As Restated)				(As Restated)
Americas (1)	$	22,680	65	%	$	11,680	50	%
EMEA(2)		9,959	29	%		8,219	35	%
Asia Pacific		2,186	6	%		3,318	15	%
Total	$	34,825	100	%	$	23,217	100	%

(1) U.S. represented 34% and 45% for the three months ended March 31, 2024 and 2023, respectively, and Canada represented 30% for the three months ended March 31, 2024.

(2) United Kingdom represented 13% for each of the three months ended March 31, 2023.

Schedule of Changes in Contract With Customer Asset

Changes in contract assets for the three months ended March 31, 2024 and 2023 were as follows:


	2024			2023
	(As Restated)			(As Restated)
Balance as of January 1	$	4,917		$	2,881
Contract assets recorded during the period		4,696			3,548
Reclassified to accounts receivable during the period		(4,399	)		(2,765	)
Other		(29	)		9
Balance as of March 31	$	5,185		$	3,673

Schedule of Changes in Contract With Customer Liability

Changes in contract liabilities for the three months ended March 31, 2024 and 2023 were as follows:


	2024			2023
	(As Restated)			(As Restated)
Balance as of January 1	$	49,101		$	34,873
Contract liabilities recorded during the period		13,004			9,395
Revenue recognized during the period		(20,317	)		(7,261	)
Other		(299	)		146
Balance as of March 31	$	41,489		$	37,153

Contract with Customer, Remaining Performance Obligation

The Company expects to recognize its remaining performance obligations as of March 31, 2024, over the following periods:


	March 31, 2024
	(As Restated)
1 to 12 months	$	72,239	35	%
13 to 24 months		34,200	17	%
25 to 36 months		27,321	13	%
Remaining		70,073	34	%
Total	$	203,833	100	%