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

Quarterly report [Sections 13 or 15(d)]

Leases

Leases

9 Months Ended

Sep. 30, 2026

Approximately 92% of the Company’s ROU assets and lease liabilities relate to office facilities leases, with the remaining amounts representing primarily ground station leases. The leases have various expiration dates through 2031. Certain of the Company’s lease agreements include escalating lease payments.

Operating lease expenses were $0.9 million and $3.0 million for the three and nine months ended September 30, 2026, respectively, and $1.3 million and $3.4 million for the three and nine months ended September 30, 2025, respectively. Aggregate variable lease expenses and short-term lease expenses were $0.5 million and $1.5 million for the three and nine months ended September 30, 2026, respectively, and $0.4 million and $1.1 million for the three and nine months ended September 30, 2025, respectively.

The following table provides the required information regarding the Company’s leases for which the Company is the lessee (dollars in thousands):


	September 30, 2026			December 31, 2025
Assets
ROU assets	$	7,504		$	10,798
Liabilities
Current	$	2,678		$	4,642
Non-current	6,402			8,755
Total lease liabilities	$	9,080		$	13,397
Weighted-average remaining lease term (years)	4.0			4.5
Weighted-average discount rate	10		%	10		%

As of September 30, 2026, the maturity of operating lease liabilities are as follows (in thousands):


Year ending December 31,
Remainder of 2026	$	824
2027	3,210
2028	2,216
2029	1,948
2030	1,738
Thereafter	903
Total lease payments	10,839
Less: Interest on lease payments	(1,759)
Present value of lease liabilities	$	9,080

The lease obligations are secured by the underlying leased assets and, in the event of default, the lessor’s claim is limited to those assets. Operating cash payments included in the measurement of operating lease liabilities were $0.9 million and $3.2 million for the three and nine months ended September 30, 2026, respectively, and $0.6 million and $1.9 million for the three and nine months ended September 30, 2025, respectively, all of which were included in net cash used in operating activities in the condensed consolidated statements of cash flows. Amortization of ROU assets was $0.7 million and $2.2 million for the three and nine months ended September 30, 2026, respectively, and $0.8 million and $2.3 million for the three and nine months ended September 30, 2025, respectively.