Nov. 5 at 7:48 AM
$SPIR 10k highlights
Gross Margin: 62% in 2024, up from 58% in 2023
Adjusted EBITDA: -
$15M (vs -
$28M prior year) → 46% reduction in losses
Operating Expenses: Down 10% YoY → Cost discipline without cutting growth investments
This shows real operational leverage — revenue up 12%, but margins expanding faster due to:
• Shift from hardware-heavy to recurring data subscriptions
• Fleet efficiency (110+ satellites now fully depreciated or low-cost nanosats)
higher margins, predictable revenue, and a clear path to sustainable profitability.