Spire Global, Inc. Earnings Per Share Disclosure
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except share and per share amounts):
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Numerator: |
|
|
|
|
|
|
||
Net income (loss) |
|
$ |
51,305 |
|
|
$ |
(103,359 |
) |
Income allocated to participating Securities Purchase Agreement Warrants |
|
|
(111 |
) |
|
|
— |
|
Basic net income (loss) attributable to common stockholders |
|
|
51,194 |
|
|
|
(103,359 |
) |
Removal of mark-to-market adjustment for 2022 Blue Torch Warrants |
|
|
(1,472 |
) |
|
|
— |
|
Removal of mark-to-market adjustment for 2023 Blue Torch Warrants |
|
|
(2,135 |
) |
|
|
— |
|
Adjustment to income allocated to participating Securities Purchase Agreement Warrants |
|
|
(6 |
) |
|
|
— |
|
Dilutive net income (loss) attributable to common stockholders |
|
$ |
47,581 |
|
|
$ |
(103,359 |
) |
Denominator: |
|
|
|
|
|
|
||
Weighted-average Class A common stock outstanding - basic |
|
|
30,910,259 |
|
|
|
24,159,770 |
|
Effect of dilutive securities: |
|
|
|
|
|
|
||
Stock Options |
|
|
91,944 |
|
|
|
— |
|
RSUs |
|
|
715,953 |
|
|
|
— |
|
2022 Blue Torch Warrants |
|
|
98,339 |
|
|
|
— |
|
2023 Blue Torch Warrants |
|
|
134,355 |
|
|
|
— |
|
Weighted-average Class A common stock outstanding - diluted |
|
|
31,950,850 |
|
|
|
24,159,770 |
|
Class A common stock: |
|
|
|
|
|
|
||
Net income (loss) per share - basic |
|
$ |
1.66 |
|
|
$ |
(4.28 |
) |
Net income (loss) per share - diluted |
|
$ |
1.49 |
|
|
$ |
(4.28 |
) |
The following securities were not included in the computation of diluted net income (loss) per share because their effect would be anti-dilutive or the issuance of such shares is contingent upon the satisfaction of certain conditions that were not met by the end of the period (share amounts):
|
|
2025 |
|
|
2024 |
|
||
Stock options |
|
|
1,458,352 |
|
|
|
1,978,557 |
|
RSUs, PSUs, and Potential ESPP Shares |
|
|
900,068 |
|
|
|
2,785,389 |
|
Credit Agreement Warrants |
|
|
24,834 |
|
|
|
1,058,940 |
|
Contingent Earnout Shares |
|
|
912,600 |
|
|
|
— |
|
|
|
|
3,295,854 |
|
|
|
5,822,886 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 19, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.