AST SpaceMobile provides a business update ahead of its critical commercial launch.AST SpaceMobile (ASTS 43.20%) has its most important satellite launch ever coming next month. Today the company provided a business update and second-quarter results ahead of that milestone launch. Investors liked what they heard.AST shares soared after the earnings release. As of 11:55 a.m. ET, the stock was higher by 40.3%. That added to the gain of more than 1,000% the stock has realized over the past three months as inves ...

Financial Data and Key Metrics - Non-GAAP adjusted cash operating expenses for Q2 2024 were $34.6 million, up from $31.1 million in Q1 2024, driven by final Block 1 satellite production costs and hiring for Block 2 development [20] - Capital expenditures for Q2 2024 were $21.2 million, down from $26.6 million in Q1 2024, as Block 1 satellite production was completed [21] - The company ended Q2 2024 with $287.6 million in cash, up from $212.4 million in Q1 2024, supported by a $55 million investment from Verizon and $80 million raised through an ATM equity facility [22][23] - Total spend for the five Block 1 satellites did not materially exceed the prior estimate of $115 million [21] Business Line Data and Key Metrics - The first five commercial BlueBird satellites are undergoing final preparation for launch in early September 2024, targeting nearly 100% geographical coverage for the continental United States [7][9] - The company is shifting focus to Block 2 satellite production, with the first 17 Block 2 satellites planned for launch starting in Q1 2025 [11] - The AST5000 ASIC chip, which enables a 10x improvement in processing bandwidth per satellite, has completed tape-out and is expected to be incorporated into Block 2 satellites [12] Market Data and Key Metrics - The company secured a $100 million commitment from Verizon, including $65 million in commercial prepayments and $35 million in convertible notes, adding to its strategic partnerships with AT&T, Vodafone, Google, and others [10] - Initial service activation for AT&T and Verizon beta test users will start with 5,600 sales across the U.S. after a few months of in-orbit service activation [9] - The company received an initial FCC license for Space-Based operations in the U.S., authorizing the use of V, F, and UHF frequencies for the first five commercial satellites [14] Company Strategy and Industry Competition - The company is transitioning from R&D to full-scale production and commercialization of its Space-Based cellular broadband network, with a focus on scaling the constellation and optimizing manufacturing costs [6][21] - The company is pursuing dual-use capabilities for both commercial and government applications, with early progress in government contracts and potential for larger, multi-year contracts in the future [16][17] - The company is vertically integrating approximately 95% of satellite subsystems to control IP and manufacturing processes, improving cost efficiency and production capacity [38] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the satellites to space weather conditions, including solar storms, based on data collected from BlueWalker 3 [32] - The company is prioritizing deployment in the U.S. market, followed by Vodafone markets, Rakuten in Japan, and other regions with prepayment commitments [30] - Management reiterated no plans for a public equity offering in 2024, focusing instead on non-dilutive funding from MNO partners and milestone-based capital [23][56] Other Important Information - The company completed the ASIC chip tape-out, marking a milestone after five years of R&D and approximately $45 million in development costs [12] - The company is working on developing a financing package from export credit agencies for long-term debt funding of large projects [26] Q&A Session Summary Question: What is the current production capacity for the 17 Block 2 satellites under construction? - The company is ramping up production capacity, with subsystems for 17 satellites being produced in advance, and vertically integrating 95% of the subsystems to control manufacturing processes [38] Question: What is the timeline for the initial Block 2 satellite launch? - The company is still tracking for a Q1 2025 launch for the initial Block 2 satellites [39] Question: What are the ARPU assumptions for the U.S. market? - The company did not provide specific ARPU guidance but expressed excitement about the revenue share model and adoption rates [41] Question: What is the timeline and key milestones from launch to commercial service? - The company plans to launch in early September 2024, with service activation expected within a few months, prioritizing U.S., Vodafone, and other prepaid markets [47] Question: What are the remaining regulatory approval processes in the U.S. and other countries? - The company is working with the FCC and other regulatory bodies, with initial markets trending positively and no significant showstoppers [52] Question: What are the funding requirements and capital sources for Block 2 and beyond? - The company is prioritizing non-dilutive funding from MNO partners and milestone-based capital, with no plans for a public equity offering in 2024 [55][56] Question: What is the outlook for larger government contract awards? - The company sees potential for larger, multi-year government contracts, with early tests and awards showing positive progress [60] Question: Is ASIC production a gating factor for scaling up Block 2 satellites? - ASIC production is not a prerequisite for launches, as the company can continue using FPGA configurations, but ASIC integration will significantly improve satellite capacity [63]

ast-science.com Business Update – Second Quarter 2024 August 14, 2024 Transforming how the world connects NASDAQ: ASTS Forward Looking Statements The information in this presentation and the oral statements made in connection therewith includes "forward-looking statements" for the purposes of federal securities laws that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of ...

AST SpaceMobile, Inc. (ASTS) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.32%. A quarter ago, it was expected that this company would post a loss of $0.18 per share when it actually produced a loss of $0.16, delivering a surprise of 11.11%.Over the last four quarters, the company has su ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39040 AST SPACEMOBILE, INC. name of registrant as specified in its charter) | --- | |----------------------------------------------- ...

Satellite Deployment and Technology - First 5 commercial satellites on target for dedicated orbital launch in first half of September, each the largest-ever communications arrays to be deployed commercially in low Earth orbit [3] - Secured FCC approval with initial license for launch of first 5 commercial satellites [3] - First 5 commercial satellites capable of U.S. nationwide non-continuous service with 5,600+ cells in premium low-band spectrum [4] - ASIC chip tape-out phase completed with TSMC, expected to support up to 10x improvement of processing bandwidth per satellite [4] - Initial Block 2 BlueBird planning and production of 17 satellites underway at AST SpaceMobile manufacturing facilities in Texas [4] Financial Performance and Expenses - As of June 30, 2024, AST SpaceMobile had cash, cash equivalents, and restricted cash of $287.6 million [5] - Total operating expenses for the second quarter of 2024 were $63.9 million, including $29.3 million of depreciation and amortization and stock-based compensation expense [5] - Total Adjusted operating expenses for the second quarter of 2024 were $34.6 million, an increase of $3.5 million as compared to $31.1 million in the first quarter of 2024 [5] - As of June 30, 2024, AST SpaceMobile has incurred approximately $347.5 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $99.3 million [5] - Revenues for the three months ended June 30, 2024, were $900 thousand, compared to no revenue in the same period in 2023 [17] - Total operating expenses for the three months ended June 30, 2024, were $63.893 million, up from $58.070 million in the same period in 2023 [17] - Net loss before allocation to noncontrolling interest for the three months ended June 30, 2024, was $131.350 million, compared to $49.589 million in the same period in 2023 [19] - Net cash used in operating activities for the six months ended June 30, 2024, was $64.274 million, compared to $87.989 million in the same period in 2023 [21] - Purchase of property and equipment for the six months ended June 30, 2024, was $61.770 million, up from $22.972 million in the same period in 2023 [21] - Proceeds from debt for the six months ended June 30, 2024, were $145.000 million, compared to no proceeds in the same period in 2023 [21] - Adjusted operating expenses for the three months ended June 30, 2024, were $34.627 million, after excluding stock-based compensation and depreciation and amortization [23] - Stock-based compensation expense for the three months ended June 30, 2024, was $8.874 million, primarily in engineering services and general and administrative costs [23] - Net cash provided by financing activities for the six months ended June 30, 2024, was $325.743 million, compared to $63.627 million in the same period in 2023 [21] - Cash, cash equivalents, and restricted cash at the end of June 30, 2024, were $287.567 million, up from $191.471 million at the end of the same period in 2023 [21] Non-GAAP Financial Measures - Adjusted operating expenses, Adjusted engineering services costs, and Adjusted general and administrative costs are non-GAAP financial measures used by the company to evaluate operating performance and manage the business [25] - These non-GAAP measures are used in preparing the company's annual operating budget and financial projections [25] - The non-GAAP measures have no standardized meaning under U.S. GAAP and may not be comparable to similar measures of other companies [25] - These measures are not substitutes for their most directly comparable GAAP measures: Total operating expenses, Engineering services costs, and General and administrative costs [25] Strategic Investments and Partnerships - Strategic investment by Verizon brings $100 million financial commitment, including $65 million of commercial prepayments and $35 million of convertible notes [3]

AST SpaceMobile TodayASTSAST SpaceMobile$19.53 +0.94 (+5.06%) 52-Week Range$1.97▼$21.28Price Target$14.97Add to WatchlistAST SpaceMobile Inc. NASDAQ: ASTS is a little-known satellite company with ambitious plans to create the world's first and only space-based cellular broadband network. The goal is to enable direct-to-cellphone satellite communication through any off-the-shelf, unmodified smartphone, providing coverage to every inch of the planet. Seamless 5G cellular coverage that eliminates any connectiv ...

AST SpaceMobile just took a significant step toward viability. But it's not the final step yet.Yesterday's stock market sell-off hurt a lot of stocks, but AST SpaceMobile (ASTS 5.65%) wasn't one of them. Defying the market rout, shares of the start-up space company promising satellite internet to any off-the-shelf cellphone all 'round the world rose 0.4% Monday -- after announcing some positive FCC news. AST shares seemed likely to continue rising today, gaining nearly 5% in early trading. But then AST stoc ...

da-kuk AST SpaceMobile (NASDAQ:ASTS) is scheduled to report second quarter earnings on August 14, 2024. After the firm last posted its earnings report on May 15, shares jumped from $2.00 to over $4.00. ASTS stock continued a remarkable uptrend from June through the end of July. The stock broke out again on July 26. At the time of writing this article, ASTS stock traded as high as $21.28. It pulled back when the small-cap Russell 2000 index (IWM) fell by 6.82% last week and Nasdaq drooped by 3.07%. After ...

AST SpaceMobile just inked a big deal that suggests a core tenet of its business model has set it up for success.AST SpaceMobile (ASTS -9.44%) has big plans and not a whole lot to show for them just yet. But that hasn't stopped it from executing well on one very important aspect of its business model: partnering with the cellular industry's leaders. There's a virtuous cycle here, though, because the more partners it has, the more likely it is to succeed. Which is why the company recently linking up with Ver ...