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

Quarterly report [Sections 13 or 15(d)]

Net Earnings (Loss) per Share

Net Earnings (Loss) per Share

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Net Earnings (Loss) per Share

13.

Net Earnings (Loss) per Share

The Company has two classes of common stock, Class A and Class B. Class B common stock has no economic rights, and therefore, has been excluded from the computation of basic and diluted net earnings (loss) per share. The Pre-Funded Warrants are participating securities because they are entitled to participate in dividends with Class A common stock. As a result, a portion of net income is allocated to these warrants in the computation of basic earnings per share, in accordance with the two-class method.

The computation of net earnings (loss) per share and weighted average Class A common stock outstanding for the period presented is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Numerator:
Net income (loss)	$	119,590		$	(16,559	)	$	96,075		$	(42,103	)
Income allocated to participating Securities Purchase Agreement Warrants		(430	)		—			(239	)		—
Basic net income (loss) attributable to common stockholders		119,160			(16,559	)		95,836			(42,103	)
Removal of mark-to-market adjustment for 2022 Blue Torch Warrants		—			—			(1,472	)		—
Removal of mark-to-market adjustment for 2023 Blue Torch Warrants		85			—			(2,136	)		—
Adjustment to income allocated to participating Securities Purchase Agreement Warrants		9			—			11			—
Dilutive net income (loss) attributable to common stockholders	$	119,254		$	(16,559	)	$	92,239		$	(42,103	)
Denominator:
Weighted-average Class A common stock outstanding - basic		31,398,176			24,487,484			29,105,374			23,150,265
Effect of dilutive securities:
Stock Options		99,734			—			130,663			—
RSUs		552,466						740,111			—
2022 Blue Torch Warrants		—			—			196,678			—
2023 Blue Torch Warrants		43,270			—			268,710			—
Weighted-average Class A common stock outstanding - diluted		32,093,646			24,487,484			30,441,536			23,150,265
Class A common stock:
Net earnings (loss) per share - basic	$	3.80		$	(0.68	)	$	3.29		$	(1.82	)
Net earnings (loss) per share - diluted	$	3.72		$	(0.68	)	$	3.03		$	(1.82	)

The Company applies the treasury stock method to stock options, RSUs, and shares issuable under the 2021 ESPP. Shares subject to contingent issuance, such as the contingent earnout shares and PSUs, are included in the calculation of diluted earnings per share only when the relevant performance or market conditions are met, assuming the end of the reporting period coincides with the end of the measurement period. When calculating diluted earnings per share, the Company applies the more dilutive method between the two-class method and the treasury stock method.

The following securities were not included in the computation of diluted net earnings (loss) per share because the effect would be anti-dilutive or the issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Stock options		1,538,241		2,001,787		1,504,340		2,001,787
RSUs and PSUs		1,608,610		2,889,872		1,359,071		2,889,872
Credit Agreement Warrants		—		1,058,940		—		1,058,940
Contingent Earnout Shares		912,600		—		912,600		—
Securities Purchase Agreement Warrants		24,834		—		24,834		—
		4,084,285		5,950,599		3,800,845		5,950,599