Spire Global, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of cash, cash equivalents, and restricted cash

The following table shows components of cash, cash equivalents, and restricted cash reported on the Consolidated Balance Sheets and in the Consolidated Statements of Cash Flows as of and for the years then ended:


	December 31,
	2021		2020
Cash and cash equivalents	$	109,256	$	15,571
Restricted cash included in Other long-term assets		389		415
	$	109,645	$	15,986

Summary of customers whose revenue and accounts receivable balances

The Company had the following customers whose revenue and accounts receivable balances individually represented 10% or more of the Company’s total revenue and/or accounts receivable:


	Year Ended December 31,						December 31,
	2021			2020			2021			2020
	Revenue			Revenue			Accounts Receivable			Accounts Receivable
Customer A		27	%		19	%		29	%	*
Customer B		16	%		17	%	*				59	%
Customer C		10	%		19	%		12	%	*

* Revenue and/or accounts receivable from these customers were less than 10% of total revenue and/or accounts receivable during the period.

The Company has the following vendors where purchases of equipment, components and services individually represented 10% or more of the Company’s total purchases:


	Year Ended December 31,
	2021			2020
	Purchases			Purchases
Vendor A	*				15	%
Vendor B	*				11	%
Vendor C	*				11	%
Vendor D		10	%	*

* Purchases from these vendors were less than 10% of total purchased during the period.

Schedule of estimated useful lives of depreciable assets

Depreciation and amortization are computed utilizing the straight-line method over the estimated useful lives of depreciable assets in the table below. Leasehold improvements are amortized using the straight-line method over the lesser of the life of the asset or the remaining life of the lease.


		Years
Furniture and fixtures		7
Machinery and equipment		5
In-service ground stations		4
Computer software and website development		3
Computer equipment		3
Capitalized satellite launch costs and in-service satellites		2-3