Spire Global, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Assets Held for Sale

Assets Held for Sale

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]

On November 13, 2024, the Company entered into the Purchase Agreement to sell its maritime business to Buyer for $233,500 subject to certain adjustments.

The following table summarizes the carrying values of the assets and liabilities classified as held for sale in the Company's consolidated balance sheets as of December 31, 2024:


	December 31, 2024
Assets:
Accounts receivable, net	$	2,591
Contract assets		927
Other current assets		1,002
Property, plant and equipment, net		106
Goodwill		32,412
Customer relationships, net		16,281
Other non-current assets		3,644
Total assets classified as held for sale	$	56,963

Liabilities:
Accounts payable	$	787
Accrued wages and benefits		402
Other accrued expenses		1,014
Contract liabilities, current portion		5,444
Contract liabilities, non-current portion		20
Total liabilities associated with assets classified as held for sale	$	7,667
Net assets held for sale	$	49,296

The Company's satellite and ground station networks, including operations, and maritime contracts associated with the U.S. federal government will be retained by the Company at closing and are not included in the amounts presented above. The Company expects the transaction, which is subject to customary closing conditions and regulatory approvals, to close during the second quarter of 2025.