AST SpaceMobile Misses Revenue Target but Advances Satellite and Partnership Goals

Published 8 hours agoASTS

AST SpaceMobile Misses Revenue Target but Advances Satellite and Partnership Goals

AST SpaceMobile recently shared its latest financial results, revealing a GAAP earnings per share (EPS) of -$0.20, which was slightly better than what analysts had predicted. However, the company's revenue for the quarter came in significantly lower than expected at $1.92 million, missing the anticipated $19.20 million figure. As a result, the net loss for the quarter was reported at $35.86 million, according to TradingView.

Despite the financial shortfall, AST SpaceMobile achieved several operational milestones. The company successfully unfurled its first five BlueBird satellites and filed a Special Temporary Authority request with the Federal Communications Commission (FCC) to initiate beta services with major telecom giants AT&T and Verizon. These steps mark significant progress in their satellite deployment ambitions, Business Wire reported.

In terms of strategic moves, AST SpaceMobile secured a $43.0 million contract with the U.S. Space Development Agency and signed a commercial agreement with Vodafone that spans over 20 countries in Europe and Africa. Financially, the company is supported by almost $1.0 billion in cash and equivalents through December 31, 2024, partly bolstered by a $460.0 million convertible senior notes offering, as noted by GuruFocus. These efforts underline the company's commitment to expanding its reach and technology, even as it navigates its financial hurdles.

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