Story
Spire Global Shares Rise After Securing $33.2 Million NOAA Weather Data Contract
Summary
The satellite data provider's stock gained in after-hours trading after it announced a two-year task order from the National Oceanic and Atmospheric Administration, with options that could double the total value to approximately $66 million.
Shares of Spire Global Inc. (NYSE:SPIR) rose in after-hours trading Tuesday after the company announced it secured a $33.2 million task order from the National Oceanic and Atmospheric Administration (NOAA).
The stock climbed 3.9% in extended trading following the news of the significant government contract.
Contract Details
Under the terms of the agreement, Spire will provide global navigation satellite system radio occultation (GNSS-RO) data to NOAA. The two-year contract is set to run from December 1, 2026, to December 1, 2028.
The task order also includes unfunded surge-buy options. If fully exercised by NOAA, these options could increase the total potential value of the contract to approximately $66 million over the two-year period.
AdStrategic Importance
The GNSS-RO data supplied by Spire provides crucial vertical profiles of atmospheric measurements, including pressure, humidity, and temperature. This information is a key input for NOAA’s operational weather prediction models, supporting both public weather forecasting and research.
This award is part of NOAA’s broader Space-Based Environmental Monitoring IDIQ (Indefinite Delivery, Indefinite Quantity) contract. The program, which operates under the ProTech 2.0 framework, has a shared ceiling of $8 billion over its potential ten-year lifespan. Spire noted it remains eligible for future task orders across several data categories under this program.
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