Core Viewpoint - AST SpaceMobile's stock experienced volatility following a price target increase by Scotiabank analyst Andres Coello, raising concerns about the company's cash burn rate and overall financial health [1][3]. Group 1: Stock Performance - AST SpaceMobile's shares rose by 15% after the price target was raised to $28, but subsequently fell by 8.5% within the same day [1]. - The current stock price of $35 per share raises questions about the analyst's target being lower than the market price [1]. Group 2: Satellite Launch Plans - AST confirmed plans to launch five Bluebird communications satellites in the first half of September, which is a small step towards its goal of 20 satellites for U.S. coverage and 168 for global coverage [2]. - The initial five satellites will only support beta tests for 5,600 simultaneous calls, indicating limited coverage and potential dead zones [2]. - To enhance its satellite capabilities, AST is planning to build an additional 17 satellites for future launches [2]. Group 3: Financial Health - AST currently has $287.6 million in cash, an increase of $75 million from the last report, but the company is facing significant cash burn [3]. - The company reported a negative operating cash flow of $64.3 million year to date and $61.8 million in capital spending, resulting in a negative free cash flow of $126.1 million [3]. - AST has incurred approximately $347.5 million in gross capitalized property and equipment costs in the first half of the year, suggesting a rapid cash burn rate [3]. - The total cost to build the complete fleet of 168 communications satellites is projected to be $5 billion, which the company currently does not have [3].

AST SpaceMobile stock is up over 500% this year.In this video, I will cover the recent news about AST SpaceMobile (ASTS 10.91%). Check out the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Aug. 15, 2024. The video was published on Aug. 16, 2024. ...

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 ...

Company Performance - AST SpaceMobile reported a quarterly loss of $0.14 per share, better than the Zacks Consensus Estimate of a loss of $0.19, and an improvement from a loss of $0.24 per share a year ago, indicating a 41.67% year-over-year improvement [1] - The company achieved an earnings surprise of 26.32% for the quarter, having previously reported a loss of $0.16 per share against an expected loss of $0.18 per share, resulting in an 11.11% surprise [1] - Over the last four quarters, AST SpaceMobile has surpassed consensus EPS estimates two times [1] Revenue Insights - The company posted revenues of $0.9 million for the quarter ended June 2024, which missed the Zacks Consensus Estimate by 55%, compared to zero revenues a year ago [1] - The current consensus EPS estimate for the upcoming quarter is -$0.19 on projected revenues of $13.75 million, while for the current fiscal year, the estimate is -$0.65 on revenues of $22.34 million [4] Stock Performance - AST SpaceMobile shares have increased approximately 247.6% since the beginning of the year, significantly outperforming the S&P 500's gain of 13.9% [2] - The current estimate revisions trend for AST SpaceMobile is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Wireless Equipment industry, to which AST SpaceMobile belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [5] - Ubiquiti Inc., another company in the same industry, is expected to report quarterly earnings of $1.67 per share, reflecting a year-over-year change of -3.5%, with revenues projected at $534.43 million, an 8.8% increase from the previous year [5]

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]

Company Overview - AST SpaceMobile Inc. is a satellite company aiming to create the world's first space-based cellular broadband network, enabling direct-to-cellphone satellite communication without the need for specialized equipment [1][2] - The company is currently in the pre-revenue phase and competes with other satellite companies, notably Tesla's Starlink, which has a larger satellite constellation [2] Competitive Landscape - AST SpaceMobile's direct-to-device connection model contrasts with Starlink's fixed-point broadband services, which face challenges such as line-of-sight and signal obstruction issues [3] - Starlink requires specialized equipment and may need to launch new satellites to compete effectively with AST's technology [3] Business Strategy - AST plans to launch five initial Bluebird satellites, with a long-term goal of deploying 168 satellites at an estimated cost exceeding $5 billion [5] - The first five satellites will provide nationwide non-continuous service in the U.S., allowing existing cell phones to access cellular broadband [5][10] - The company is also pursuing government contracts, having established its first revenue-generating contract in Q1 2024 [6] Partnerships and Agreements - AST has signed a six-year commercial agreement with AT&T for nationwide coverage and a $100 million deal with Verizon for 100% geographical coverage in the U.S. [8] - The Verizon deal includes $65 million in commercial payments and a $35 million investment in convertible notes [8] Financial Outlook - AST SpaceMobile's stock forecast indicates a 12-month price target of $14.97, representing a potential downside of 23.37% [9] - The company went public through a reverse merger and issued 17,597,600 warrants, which could lead to $202 million in inflows and a 7% dilution of shares if exercised [9] Upcoming Milestones - The launch of the first five Bluebird satellites is expected in early September 2024, marking the beginning of commercial operations [10] - Block 2 satellites are anticipated to deploy between late 2024 and early 2025 [7]

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 ...