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Side-by-side financial comparison of CSP INC (CSPI) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Spire Global, Inc. is the larger business by last-quarter revenue ($15.8M vs $12.0M, roughly 1.3× CSP INC). CSP INC runs the higher net margin — 0.8% vs -176.6%, a 177.4% gap on every dollar of revenue. On growth, CSP INC posted the faster year-over-year revenue change (-23.2% vs -26.9%). CSP INC produced more free cash flow last quarter ($-3.0M vs $-16.2M). Over the past eight quarters, CSP INC's revenue compounded faster (-6.3% CAGR vs -32.6%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
CSPI vs SPIR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $15.8M |
| Net Profit | $91.0K | $-28.0M |
| Gross Margin | 39.3% | 40.2% |
| Operating Margin | -0.9% | -164.1% |
| Net Margin | 0.8% | -176.6% |
| Revenue YoY | -23.2% | -26.9% |
| Net Profit YoY | -80.7% | 42.7% |
| EPS (diluted) | $0.01 | $-0.85 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.0M | $15.8M | ||
| Q3 25 | $14.5M | $12.7M | ||
| Q2 25 | $15.4M | $19.2M | ||
| Q1 25 | $13.1M | $23.9M | ||
| Q4 24 | $15.7M | $21.7M | ||
| Q3 24 | $13.0M | $28.6M | ||
| Q2 24 | $13.1M | $25.4M | ||
| Q1 24 | $13.7M | $34.8M |
| Q4 25 | $91.0K | $-28.0M | ||
| Q3 25 | $-191.0K | $-19.7M | ||
| Q2 25 | $-264.0K | $119.6M | ||
| Q1 25 | $-108.0K | $-20.7M | ||
| Q4 24 | $472.0K | $-48.8M | ||
| Q3 24 | $-1.7M | $-12.5M | ||
| Q2 24 | $-185.0K | $-16.6M | ||
| Q1 24 | $1.6M | $-25.5M |
| Q4 25 | 39.3% | 40.2% | ||
| Q3 25 | 36.6% | 36.6% | ||
| Q2 25 | 28.8% | 48.9% | ||
| Q1 25 | 32.0% | 36.8% | ||
| Q4 24 | 29.1% | 32.4% | ||
| Q3 24 | 28.4% | 44.5% | ||
| Q2 24 | 35.0% | 43.0% | ||
| Q1 24 | 47.3% | 26.5% |
| Q4 25 | -0.9% | -164.1% | ||
| Q3 25 | -3.7% | -166.1% | ||
| Q2 25 | -7.9% | -122.7% | ||
| Q1 25 | -7.6% | -106.5% | ||
| Q4 24 | -2.3% | -144.1% | ||
| Q3 24 | -15.7% | -48.0% | ||
| Q2 24 | -5.5% | -48.6% | ||
| Q1 24 | 9.0% | -34.4% |
| Q4 25 | 0.8% | -176.6% | ||
| Q3 25 | -1.3% | -155.3% | ||
| Q2 25 | -1.7% | 623.4% | ||
| Q1 25 | -0.8% | -86.5% | ||
| Q4 24 | 3.0% | -225.2% | ||
| Q3 24 | -12.7% | -43.7% | ||
| Q2 24 | -1.4% | -65.2% | ||
| Q1 24 | 11.6% | -73.3% |
| Q4 25 | $0.01 | $-0.85 | ||
| Q3 25 | $-0.02 | $-0.61 | ||
| Q2 25 | $-0.03 | $3.72 | ||
| Q1 25 | $-0.01 | $-0.77 | ||
| Q4 24 | $0.05 | $-1.93 | ||
| Q3 24 | $-0.17 | $-0.50 | ||
| Q2 24 | $-0.02 | $-0.68 | ||
| Q1 24 | $0.16 | $-1.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $44.8M | $112.9M |
| Total Assets | $69.2M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $81.8M | ||
| Q3 25 | $27.4M | $96.8M | ||
| Q2 25 | $26.3M | $117.6M | ||
| Q1 25 | $29.5M | $35.9M | ||
| Q4 24 | $30.7M | $19.2M | ||
| Q3 24 | $30.6M | $36.6M | ||
| Q2 24 | $28.9M | $45.8M | ||
| Q1 24 | $27.1M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $44.8M | $112.9M | ||
| Q3 25 | $44.6M | $133.1M | ||
| Q2 25 | $47.5M | $149.2M | ||
| Q1 25 | $47.5M | $3.7M | ||
| Q4 24 | $47.5M | $-11.7M | ||
| Q3 24 | $47.3M | $30.8M | ||
| Q2 24 | $48.1M | $40.3M | ||
| Q1 24 | $48.2M | $52.5M |
| Q4 25 | $69.2M | $211.0M | ||
| Q3 25 | $71.2M | $224.3M | ||
| Q2 25 | $66.8M | $239.5M | ||
| Q1 25 | $67.1M | $208.8M | ||
| Q4 24 | $67.5M | $193.6M | ||
| Q3 24 | $69.4M | $224.2M | ||
| Q2 24 | $66.8M | $230.8M | ||
| Q1 24 | $64.2M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $-4.3M |
| Free Cash FlowOCF − Capex | $-3.0M | $-16.2M |
| FCF MarginFCF / Revenue | -25.1% | -102.1% |
| Capex IntensityCapex / Revenue | 0.9% | 75.1% |
| Cash ConversionOCF / Net Profit | -32.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $-4.3M | ||
| Q3 25 | $1.9M | $-12.0M | ||
| Q2 25 | $-3.3M | $-35.1M | ||
| Q1 25 | $1.9M | $-8.4M | ||
| Q4 24 | $1.7M | $-19.2M | ||
| Q3 24 | $-1.5M | $14.0M | ||
| Q2 24 | $2.4M | $-4.4M | ||
| Q1 24 | $1.7M | $-8.8M |
| Q4 25 | $-3.0M | $-16.2M | ||
| Q3 25 | $1.7M | $-20.4M | ||
| Q2 25 | $-3.3M | $-38.7M | ||
| Q1 25 | $1.9M | $-17.3M | ||
| Q4 24 | $1.7M | $-24.3M | ||
| Q3 24 | $-1.5M | $5.1M | ||
| Q2 24 | $2.4M | $-9.9M | ||
| Q1 24 | $1.6M | $-15.9M |
| Q4 25 | -25.1% | -102.1% | ||
| Q3 25 | 11.5% | -161.3% | ||
| Q2 25 | -21.7% | -201.7% | ||
| Q1 25 | 14.5% | -72.6% | ||
| Q4 24 | 10.8% | -112.2% | ||
| Q3 24 | -11.7% | 17.8% | ||
| Q2 24 | 17.9% | -39.0% | ||
| Q1 24 | 11.9% | -45.7% |
| Q4 25 | 0.9% | 75.1% | ||
| Q3 25 | 1.6% | 66.2% | ||
| Q2 25 | 0.4% | 18.8% | ||
| Q1 25 | 0.1% | 37.3% | ||
| Q4 24 | 0.3% | 23.5% | ||
| Q3 24 | 0.1% | 31.2% | ||
| Q2 24 | 0.3% | 21.8% | ||
| Q1 24 | 0.1% | 20.3% |
| Q4 25 | -32.04× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.69× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
SPIR
Segment breakdown not available.
