Spire Global, Inc. Goodwill & Intangibles Disclosure
The following table summarizes changes in goodwill balance (in thousands):
Balance at December 31, 2024 |
|
$ |
14,735 |
|
Impact of foreign currency translation |
|
|
715 |
|
Balance at December 31, 2025 |
|
$ |
15,450 |
|
The Company’s Federal Communications Commission (“FCC”) licenses are recognized as finite-lived intangible assets and are amortized over their estimated useful lives. The licenses are subject to renewal upon expiration and require approval by the FCC. The Company intends to renew these licenses, and the expected future cash flows associated with the licenses assume renewal upon expiration. Management does not believe that renewal uncertainty will materially limit the Company’s ability to generate cash flows from its satellite and ground station operations.
Intangible assets consisted of the following (in thousands):
|
|
December 31, 2025 |
|
|||||
|
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
||
Developed technology |
|
$ |
12,867 |
|
|
$ |
(4,378 |
) |
Trade names |
|
|
2,181 |
|
|
|
(1,781 |
) |
Patents |
|
|
393 |
|
|
|
(369 |
) |
FCC licenses |
|
|
480 |
|
|
|
(314 |
) |
|
|
$ |
15,921 |
|
|
$ |
(6,842 |
) |
|
|
|
|
|
|
|
||
|
|
December 31, 2024 |
|
|||||
|
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
||
Developed technology |
|
$ |
12,270 |
|
|
$ |
(3,153 |
) |
Trade names |
|
|
2,080 |
|
|
|
(1,282 |
) |
Patents |
|
|
393 |
|
|
|
(345 |
) |
FCC licenses |
|
|
480 |
|
|
|
(282 |
) |
|
|
$ |
15,223 |
|
|
$ |
(5,062 |
) |
As of December 31, 2025, the weighted-average amortization period for remaining developed technology was 7.9 years, trade names was 0.9 years, and patents and FCC licenses was 4.8 years. Amortization expense related to intangible assets was $1.5 million and $3.2 million for the years ended December 31, 2025 and 2024, respectively. The Company did not recognize any impairment charges during the years ended December 31, 2025 and 2024.
As of December 31, 2025, the expected future amortization expense of intangible assets is as follows (in thousands):
Year ending December 31, |
|
Future Amortization Expense |
|
|
2026 |
|
$ |
1,519 |
|
2027 |
|
|
1,112 |
|
2028 |
|
|
1,107 |
|
2029 |
|
|
1,104 |
|
2030 |
|
|
1,102 |
|
Thereafter |
|
|
3,135 |
|
|
|
$ |
9,079 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 19, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
| 2023 | Mar 6, 2024 | |
| 2022 | Mar 15, 2023 | |
| 2021 | Mar 30, 2022 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.