Spire Global Secures TCOM Subcontract For Weather Forecasts

Spire Global Inc (NYSE:SPIR) has secured a subcontract agreement from TCOM, L.P. to provide weather forecasts for ten sites where TCOM aerostats are operated.
The multi-million-dollar subcontract is for five years. Financial terms were not disclosed.
The agreement includes comprehensive weather forecasts, alerts that notify aerostat site operators if bad weather is forecasted, weather training for site managers and site leads, and a contact center offering weather information 24 hours a day, seven days a week.
The initial TCOM contract was awarded through a Department of Defense (DoD) Foreign Military Sales (FMS) award.
Price Action: SPIR shares are trading lower by 2.07% at $1.42 on the last check Monday.