SPHEREx, the Spectro-Photometer for the History of the Universe, Epoch of Reionization, and ices Explorer, is a NASA MIDEX mission planned for launch in 2024. SPHEREx will carry out the first all-sky spectral survey at wavelengths between 0.75µm and 5µm with spectral resolving power ~40 between 0.75 and 3.8µm and ~120 between 3.8 and 5µm At the end of its two-year mission, SPHEREx will provide 0.75-to-5µm spectra of each 6.”2x6.”2 pixel on the sky - 14 billion spectra in all. This paper updates an earlier description of SPHEREx presenting changes made during the mission's Preliminary Design Phase, including a discussion of instrument integration and test ow and a summary of the data processing, analysis, and distribution plans.