Spire Global Inc at Jefferies Space Summit (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : So, Peter, maybe just to start with some background on Spire, give us a little bit more detail. When was it formed? What's the mission of the company? What is your focus?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : And maybe if you could give us sort of your revenue breakout, and who are your primary customers? Who are your competitors? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 12, 2022 / 3:00PM, SPIR.N - Spire Global Inc at Jefferies Space Summit (Virtual)

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : Sure.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : Sure. I mean, happy to reference them whenever the visual is always helpful. Did you list your competitors? Who are some of your competitors in that arena? Sorry, I know I'm going off-script.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : So when we hear about like RF, radio frequency, do -- it seems like your competitors and customers don't necessarily have a one-stop, go-to shop. Everybody specializes in either the listening bit or the looking bit, is that fair to sort of say? Or how do you work with -- how do you use that example in terms of what's going on in Europe? And look -- partner with like the look function and the imagery function, how does that come together for customers, or does it not at all?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : No, that's great. Then just digging into the technical side a little bit more and I apologize, I'm not understanding it. What is the radio occultation data or we hear about GPS radio occultation? How's that different from other data sources in terms of solutions it can provide?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : No, that's super helpful. And then we talked about 100 satellites plus an orbit that you guys have, how much of a differentiator is that? Does everybody have 100 satellites feeding microwave frequency at us? Can you talk a little bit about where that number goes over time?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : So I guess the technology IP is really what's inside the satellite. Just a question. Like do other -- do you sell that IP to anybody else? Like for defense purposes or anything? Or is it purely -- okay, it's purely in your satellites. And then where are you sort of more reliant on the supply chain? Is it -- I guess where are you reliant on the supply chain? And over time, you sort of answered this, how does it change? Do we get bigger satellites? Do you need more satellites to digest the information? How does that work?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : And then you had this in a slide, so we could go back to it. I just want to make sure to capture that. You talked about your market being pretty broad-based: maritime, aviation, weather. How are these markets sort of being served today? And what are the opportunities? When we think about your revenue base, where do you see the most growth? I know you had some TAMs out there, but if you could go over that one more time.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : You gave a few examples here with like the CEO of Southern Launch and the aircraft CEO. I was just thinking as like flight aware of customer, how many customers do you have overall?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : And is it a subscription model where they have to sign up for a year, or do they come for bespoke requests?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : How much is like an API or subscription for a year? I should try to buy one to listen into all my competitors and what they're saying to folks.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : I'll look into linking up with a salesman and see. What else? Okay, so you recently acquired exactEarth. Can you maybe talk about what that acquisition brought to Spire? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 12, 2022 / 3:00PM, SPIR.N - Spire Global Inc at Jefferies Space Summit (Virtual)

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : And then in terms of -- I should have asked this earlier, but predictive analytics versus just capturing what happened. Do some of your subscriptions actually offer predictive -- I guess so, because you said you could predict the weather 10 days out. So how much of it is predictive versus diagnosis on what happened?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : Okay. And then how do launch costs play into your return profiles, like who typically uses -- who are you typically using for a launch? And how do you think about that decision and do you expect that to change over time? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 12, 2022 / 3:00PM, SPIR.N - Spire Global Inc at Jefferies Space Summit (Virtual)

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : That's great. And maybe -- I feel like we've gone over so much of this -- that -- these questions. Maybe if you could talk about the work with NorthStar and walk through a bit what exactly is a space as a service agreement with future options in this domain? And then I think you have a contract with Sierra Nevada as well.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : That makes sense. And maybe one financial question. I know you're not the CFO, you're the CEO, but you have 2025 targets out there for $900 million in revenues. You're currently at about $100 million for this year for guidance. What are sort of the biggest drivers to getting there? Is it your customers continuing to renew at 100% retention rate? 600 customers [growing] at 6,000? Can you talk about that for a little bit?

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : Are you there? Thanks, Peter, you're back.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst :

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : Totally. And maybe last question before we wrap it up, what's one or two takeaways you want people to walk away with when they think about Spire? I definitely have a few, but just want to let you highlight that.

Question: Sheila Kahyaoglu - Jefferies LLC - Analyst : 601 customers after this call. Thank you so much, Peter, for being here and taking the time to spend with us. Thank you everyone for joining. Thanks, operator. That concludes our call.