Spire Global Bags $11.1 Mln Contract From NOAA; Stock Up In Pre-Market

(RTTNews) - Spire Global, Inc. (SPIR), a provider of space-based data, analytics, and services, said on Thursday that it has bagged an $11.1 million contract from the National Oceanic and Atmospheric Administration, or NOAA.

Under the terms, Spire will provide global navigation satellite system (GNSS) radio occultation (RO) data for a one-year period until September 18, 2026.

The company's near-real-time GNSS-RO data consists of vertical profiles of atmospheric measurements, including pressure, humidity, temperature, and others.

NOAA, together with NASA, the U.S. Air Force, and U.S. Navy, will integrate Spire's GNSS-RO data into their weather and space weather models, while additional American and international agencies will leverage the data to strengthen forecasts and advance climate research.

SPIR was up by 3.17% at $9.10 in the pre-market trade on the New York Stock Exchange.