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Side-by-side financial comparison of Spire Global, Inc. (SPIR) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
WEST BANCORPORATION INC is the larger business by last-quarter revenue ($26.9M vs $15.8M, roughly 1.7× Spire Global, Inc.). WEST BANCORPORATION INC runs the higher net margin — 39.2% vs -176.6%, a 215.9% gap on every dollar of revenue. On growth, WEST BANCORPORATION INC posted the faster year-over-year revenue change (16.6% vs -26.9%). WEST BANCORPORATION INC produced more free cash flow last quarter ($12.4M vs $-16.2M). Over the past eight quarters, WEST BANCORPORATION INC's revenue compounded faster (17.3% CAGR vs -32.6%).
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.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
SPIR vs WTBA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.8M | $26.9M |
| Net Profit | $-28.0M | $10.6M |
| Gross Margin | 40.2% | — |
| Operating Margin | -164.1% | 50.0% |
| Net Margin | -176.6% | 39.2% |
| Revenue YoY | -26.9% | 16.6% |
| Net Profit YoY | 42.7% | 34.8% |
| EPS (diluted) | $-0.85 | $0.61 |
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.
| Q1 26 | — | $26.9M | ||
| Q4 25 | $15.8M | $24.2M | ||
| Q3 25 | $12.7M | $25.0M | ||
| Q2 25 | $19.2M | $23.8M | ||
| Q1 25 | $23.9M | $23.1M | ||
| Q4 24 | $21.7M | $20.9M | ||
| Q3 24 | $28.6M | $20.3M | ||
| Q2 24 | $25.4M | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | $-28.0M | $7.4M | ||
| Q3 25 | $-19.7M | $9.3M | ||
| Q2 25 | $119.6M | $8.0M | ||
| Q1 25 | $-20.7M | $7.8M | ||
| Q4 24 | $-48.8M | $7.1M | ||
| Q3 24 | $-12.5M | $6.0M | ||
| Q2 24 | $-16.6M | $5.2M |
| Q1 26 | — | — | ||
| Q4 25 | 40.2% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 48.9% | — | ||
| Q1 25 | 36.8% | — | ||
| Q4 24 | 32.4% | — | ||
| Q3 24 | 44.5% | — | ||
| Q2 24 | 43.0% | — |
| Q1 26 | — | 50.0% | ||
| Q4 25 | -164.1% | 39.6% | ||
| Q3 25 | -166.1% | 45.8% | ||
| Q2 25 | -122.7% | 43.4% | ||
| Q1 25 | -106.5% | 43.4% | ||
| Q4 24 | -144.1% | 30.9% | ||
| Q3 24 | -48.0% | 36.6% | ||
| Q2 24 | -48.6% | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | -176.6% | 30.7% | ||
| Q3 25 | -155.3% | 37.3% | ||
| Q2 25 | 623.4% | 33.5% | ||
| Q1 25 | -86.5% | 34.0% | ||
| Q4 24 | -225.2% | 34.0% | ||
| Q3 24 | -43.7% | 29.3% | ||
| Q2 24 | -65.2% | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | $-0.85 | $0.44 | ||
| Q3 25 | $-0.61 | $0.55 | ||
| Q2 25 | $3.72 | $0.47 | ||
| Q1 25 | $-0.77 | $0.46 | ||
| Q4 24 | $-1.93 | $0.41 | ||
| Q3 24 | $-0.50 | $0.35 | ||
| Q2 24 | $-0.68 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $81.8M | $362.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $112.9M | $270.7M |
| Total Assets | $211.0M | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $81.8M | $471.1M | ||
| Q3 25 | $96.8M | $232.9M | ||
| Q2 25 | $117.6M | $345.2M | ||
| Q1 25 | $35.9M | — | ||
| Q4 24 | $19.2M | $243.5M | ||
| Q3 24 | $36.6M | — | ||
| Q2 24 | $45.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $103.7M | — | ||
| Q4 24 | $103.1M | — | ||
| Q3 24 | $4.9M | — | ||
| Q2 24 | $4.9M | — |
| Q1 26 | — | $270.7M | ||
| Q4 25 | $112.9M | $266.0M | ||
| Q3 25 | $133.1M | $255.1M | ||
| Q2 25 | $149.2M | $240.9M | ||
| Q1 25 | $3.7M | $237.9M | ||
| Q4 24 | $-11.7M | $227.9M | ||
| Q3 24 | $30.8M | $235.4M | ||
| Q2 24 | $40.3M | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $211.0M | $4.1B | ||
| Q3 25 | $224.3M | $4.0B | ||
| Q2 25 | $239.5M | $4.1B | ||
| Q1 25 | $208.8M | $4.0B | ||
| Q4 24 | $193.6M | $4.0B | ||
| Q3 24 | $224.2M | $4.0B | ||
| Q2 24 | $230.8M | $4.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 27.92× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.16× | — | ||
| Q2 24 | 0.12× | — |
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 | $-4.3M | $12.9M |
| Free Cash FlowOCF − Capex | $-16.2M | $12.4M |
| FCF MarginFCF / Revenue | -102.1% | 46.0% |
| Capex IntensityCapex / Revenue | 75.1% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-92.6M | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $-4.3M | $46.5M | ||
| Q3 25 | $-12.0M | $11.4M | ||
| Q2 25 | $-35.1M | $13.5M | ||
| Q1 25 | $-8.4M | $9.7M | ||
| Q4 24 | $-19.2M | $39.8M | ||
| Q3 24 | $14.0M | $12.9M | ||
| Q2 24 | $-4.4M | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | $-16.2M | $43.2M | ||
| Q3 25 | $-20.4M | $10.8M | ||
| Q2 25 | $-38.7M | $12.8M | ||
| Q1 25 | $-17.3M | $8.3M | ||
| Q4 24 | $-24.3M | $13.7M | ||
| Q3 24 | $5.1M | $7.0M | ||
| Q2 24 | $-9.9M | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | -102.1% | 178.3% | ||
| Q3 25 | -161.3% | 43.0% | ||
| Q2 25 | -201.7% | 53.6% | ||
| Q1 25 | -72.6% | 35.7% | ||
| Q4 24 | -112.2% | 65.6% | ||
| Q3 24 | 17.8% | 34.2% | ||
| Q2 24 | -39.0% | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | 75.1% | 13.7% | ||
| Q3 25 | 66.2% | 2.6% | ||
| Q2 25 | 18.8% | 3.2% | ||
| Q1 25 | 37.3% | 6.5% | ||
| Q4 24 | 23.5% | 125.3% | ||
| Q3 24 | 31.2% | 29.4% | ||
| Q2 24 | 21.8% | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | — | 6.26× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | -0.29× | 1.70× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 5.61× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
