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]

Other Balance Sheet Components

Other Balance Sheet Components

12 Months Ended

Dec. 31, 2025

Other current assets consisted of the following (in thousands):


	December 31,
	2025		2024
Technology and other prepaid contracts	$	1,618	$	838
Other receivables		2,554		648
Prepaid insurance		872		1,076
Deferred contract costs		121		297
Other		871		419
Other current assets	$	6,036	$	3,278

Property and equipment, net consisted of the following (in thousands):


	December 31,
	2025			2024
Satellites in-service	$	29,009		$	32,768
Internally developed software		2,377			1,760
Ground stations in-service		5,372			4,978
Leasehold improvements		6,077			5,707
Machinery and equipment		7,841			5,479
Computer equipment		1,411			1,327
Computer software and website development		99			99
Furniture and fixtures		1,542			1,335
		53,728			53,453
Less: Accumulated depreciation and amortization		(24,290	)		(25,748	)
		29,438			27,705
Satellite, launch, and ground station work in progress		30,692			27,624
Finished satellites not yet placed in-service		20,676			8,009
Property and equipment, net	$	80,806		$	63,338

Depreciation and amortization expense related to property and equipment was $10.9 million and $18.5 million for the years ended December 31, 2025 and 2024, respectively. The Company recorded losses of $9.1 million and $3.4 million on decommissioned satellites and other assets write-offs for the years ended December 31, 2025 and 2024, respectively. These losses are recorded in a separate line item within operating expenses in the consolidated statement of operations. The loss on decommissioned satellites and other assets write-offs for the year ended December 31, 2025 was primarily due to the Company’s decision to stop supporting three underperforming satellites, the deorbiting of an additional three satellites, and disposal of obsolete construction-in-process materials. The loss on decommissioned satellites for the year ended December 31, 2024 was primarily due to failure to establish communications with multiple satellites. These satellites were written off at their net book value as no recoverable value was expected upon disposal.

Other accrued expenses consisted of the following (in thousands):


	December 31,
	2025		2024
Operating lease liabilities, current	$	4,642	$	3,260
Professional services		4,394		2,622
Accrued operating costs		967		1,829
Accrued wages and benefits		4,556		3,335
Accrued interest		—		1,709
Legal matters		—		1,479
Software		791		792
Corporate and sales tax		1,281		120
Termination fees		3,335		—
Other		2,300		1,215
Other accrued expenses	$	22,266	$	16,361

Accumulated other comprehensive (loss) income consisted of the following (in thousands):


	Year Ended December 31, 2025
	Foreign Currency Translation Adjustment			Unrealized Gains on Available-for-sale Debt Securities, net			Total
Beginning balance	$	(9,770	)	$	—		$	(9,770	)
Other comprehensive (loss) income before reclassifications		(5,144	)		32			(5,112	)
Less: Amount of gain reclassified from AOCI		9,447			—			9,447
Net current period other comprehensive income		4,303			32			4,335
Ending balance	$	(5,467	)	$	32		$	(5,435	)

	Year Ended December 31, 2024
	Foreign Currency Translation Adjustment			Unrealized Gains (Losses) on Available-for-sale Debt Securities, net			Total
Beginning balance	$	(4,557	)	$	1		$	(4,556	)
Other comprehensive loss before reclassifications		(5,213	)		(1	)		(5,214	)
Less: Amount of gain (loss) reclassified from AOCI		—			—			—
Net current period other comprehensive loss		(5,213	)		(1	)		(5,214	)
Ending balance	$	(9,770	)	$	—		$	(9,770	)

The components of accumulated other comprehensive loss, which are included in stockholders' equity, consist of foreign currency translation adjustments and unrealized gain (loss) on available-for-sale securities. The Company reclassified $9.4 million out of accumulated other comprehensive loss during the year ended December 31, 2025, which was recorded as a gain on the sale of business within the consolidated statements of operations. No such reclassifications occurred during the year ended December 31, 2024.