SPIR (SPIR) financial statements
SPIR reported revenue of $72M in fiscal 2025, up 20.2% a year over 5 years.
Net income was $51M and the operating margin -134.1%, against -91.3% in 2020.
Free cash flow was -$93M.
The diluted share count rose 1351% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SPIR's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $28M | $43M | $71M | $98M | $110M | $72M |
| Cost of revenue | $10M | $19M | $54M | $59M | $71M | $42M |
| Gross profit | $18M | $25M | $17M | $39M | $40M | $29M |
| Research and development | $21M | $32M | $22M | $28M | $29M | $37M |
| Selling, general and admin | $23M | $61M | $73M | $68M | $72M | $79M |
| Operating income | -$26M | -$68M | -$79M | -$59M | -$69M | -$96M |
| Interest expense | $7M | $11M | $14M | $19M | $20M | $7M |
| Pre-tax income | -$32M | -$38M | -$99M | -$78M | -$103M | $55M |
| Income tax | $400,000 | $497,000 | $285,000 | -$142,000 | $159,000 | $4M |
| Net income | -$33M | -$38M | -$99M | -$78M | -$103M | $51M |
| EPS (diluted) | -$14.80 | -$4.88 | -$5.66 | -$3.96 | -$4.28 | $1.49 |
| Diluted shares | 2M | 8M | 17M | 20M | 24M | 32M |
| Gross margin | 63.9% | 56.8% | 24.2% | 39.5% | 36.1% | 40.8% |
| Operating margin | -91.3% | -156.4% | -111.5% | -60.2% | -62.7% | -134.1% |
| Net margin | -114.1% | -87.8% | -139.9% | -79.5% | -93.6% | 71.7% |
Balance sheet
Fiscal years, from SPIR's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $16M | $109M | $70M | $41M | $19M | $82M |
| Receivables | $4M | $10M | $14M | $10M | $12M | $4M |
| Total current assets | $22M | $132M | $94M | $72M | $92M | $94M |
| Property, plant and equipment | $20M | $49M | $56M | $60M | $63M | $81M |
| Goodwill | $0 | $54M | $50M | $51M | $15M | $15M |
| Total assets | $44M | $290M | $256M | $239M | $194M | $211M |
| Total current liabilities | $13M | $25M | $38M | $49M | $152M | $72M |
| Long-term debt | $27M | $51M | $98M | $114M | $5M | — |
| Total liabilities | $93M | $100M | $165M | $201M | $205M | $98M |
| Shareholders' equity | -$49M | $190M | $91M | $38M | -$12M | $113M |
| Net debt | $11M | -$58M | $51M | $85M | $79M | -$25M |
Cash flow
Fiscal years, from SPIR's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$15M | -$58M | -$46M | -$36M | -$18M | -$60M |
| Capital spending | $10M | $15M | $21M | $17M | $27M | $33M |
| Free cash flow | -$25M | -$73M | -$67M | -$54M | -$45M | -$93M |
| Stock-based compensation | $2M | $12M | $11M | $13M | $20M | $19M |
| Net borrowing | $17M | $41M | $101M | $20M | -$20M | -$106M |
| Free cash flow margin | -88.1% | -169.2% | -94.3% | -55.0% | -40.8% | -129.4% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for SPIR.
Open SPIR in InvestinglyQuestions
What was SPIR's revenue in 2025?
$72M in fiscal 2025, from its 10-K filing.
How much free cash flow does SPIR generate?
-$93M in fiscal 2025 (operating cash flow minus capital spending).
From SPIR's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.