AST SpaceMobile, Inc. (ASTS) reported modest third-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate but revenues missing the same.Net loss in the reported quarter was $171.9 million or $1.10 per share compared with a loss of $20.9 million or 23 cents per share in the year-ago quarter. Non-GAAP net income was 10 cents per share, which beat the Zacks Consensus Estimate by 28 cents. Quarterly revenues were $1.1 million, which missed the consensus estimate of $2 million.Key Grow ...

This past week saw several pure-play space stocks rally, with leaders up as much as 20% or more, in part driven by what sector analysts said is a "Trump-Elon trade," a nod to the relationship between President-elect Donald Trump and SpaceX CEO Elon Musk."I don't think anyone can underplay the potential catalyst that I don't think many people were talking about before: the most important human in the history of the space industry having the ear of the president-elect, who in his past term found space importa ...

AST SpaceMobile (ASTS -12.24%) stock tumbled 12.5% through noon ET Friday after the company reported a big earnings miss last night.Heading into the report, analysts forecast the start-up provider of direct-to-cell (via satellite) mobile communications would report a $0.23-per-share loss for its Q3 2024. Instead, AST said it lost $1.10 per share. AST SpaceMobile Q3 earningsCEO Abel Avellan led off the report highlighting AST's "many significant milestones" recently achieved, such as the successful launch of ...

AST SpaceMobile, Inc. (ASTS) reported modest third-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate but revenues missing the same.  Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Bottom LineNet loss in the reported quarter was $171.9 million or a loss of $1.10 per share compared with $20.9 million or 23 cents per share in the year-ago quarter. Non-GAAP net income was 10 cents per share, which beat the Zacks Consensus Estimate by 28 cents.RevenuesQua ...

In this video, I will cover AST SpaceMobile's (ASTS -12.89%) third-quarter earnings. Watch the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Nov. 14, 2024. The video was published on Nov. 15, 2024. ...

SpaceMobile Transforming how the world connects NASDAQ: ASTS Business Update – Third Quarter 2024 November 14, 2024 ast-science.com ast-science.com 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 stateme ...

AST SpaceMobile's (NASDAQ: ASTS ) share price reacted negatively after the release of the company's third quarter results . From a fundamental perspective, there have been few developments of late that should have materially impacted AST’s share price, though. While the launchRichard Durant is the leader of Narweena, an asset manager focused on finding market dislocations that are the result of a poor understanding of a businesses long-term prospects. Narweena believes that excess risk adjusted returns can ...

AST SpaceMobile, Inc. (NASDAQ:ASTS) Q3 2024 Earnings Conference Call November 14, 2024 5:00 PM ET Company Participants Scott Wisniewski - President and Chief Strategy Officer Abel Avellan - Founder, Chairman and Chief Executive Officer Andrew Johnson - Chief Financial Officer and Chief Legal Officer Conference Call Participants Mike Crawford - B. Riley Securities Christopher Schoell - UBS Chris Quilty - Quilty Analytics Bryan Kraft - Deutsche Bank Caleb Henry - Quilty Analytics Operator Good day and thank y ...

Satellite Launch and Development - The company launched five first generation commercial BB satellites on September 12, 2024, with a total cost incurred of approximately $119.0 million, an increase of 3.3% over the previous estimate of $115.0 million[141]. - The next generation Block 2 BB satellites are expected to support peak data rates of up to 120 Mbps and require less power, with a design featuring the largest communication array ever deployed in LEO for commercial use[144]. - The company plans to launch up to approximately 45 Block 2 BB satellites between 2025 and 2026, with the first satellite expected to be sent to the launch provider in March or April 2025[148]. - The company aims to achieve substantial service in targeted geographical areas with the launch and operation of approximately 95 BB satellites, with plans for additional satellites to enhance coverage and capacity[150]. - The company is actively engaged in planning and procurement for the Block 2 BB satellites to meet its planned launches in 2025 and 2026, leveraging expertise from the Block 1 BB satellite development[147]. Revenue Generation - The SpaceMobile Service has not yet generated any revenue, but the company plans to initiate a limited, noncontinuous service in targeted geographical areas, including the United States, and validate non-commercial government applications[142]. - Beginning in Q1 2024, the company expects to recognize revenue from a U.S. Government contract and anticipates generating revenue from the resale of gateway equipment and associated services to MNOs and other third parties throughout 2024[143]. - The company expects to continue recognizing revenue under a U.S. Government contract throughout 2024 as performance obligations are completed[160]. - Revenues for the three months ended September 30, 2024 were $1.1 million, a 100% increase compared to $0 in the same period of 2023[173]. - Revenues for the nine months ended September 30, 2024, were $2,500,000, representing a 100% increase compared to the same period in 2023, attributed to a U.S. Government contract[185][186]. Financial Performance - A loss of $236.9 million was recorded on the remeasurement of warrant liabilities for the three months ended September 30, 2024, compared to a gain of $7.5 million in the same period of 2023[179]. - The net loss attributable to common stockholders for the nine months ended September 30, 2024, was $264.2 million, a 375% increase compared to a loss of $55.6 million in 2023[185]. - Net loss attributable to noncontrolling interest was $131.1 million for the three months ended September 30, 2024, compared to $29.8 million in the same period of 2023[183]. Operating Expenses - Total operating expenses increased by $25.0 million, or 16%, to $186.5 million for the nine months ended September 30, 2024, driven by higher engineering services and general administrative costs[185]. - General and administrative costs rose by $4.6 million, or 41%, to $15.6 million for the three months ended September 30, 2024[176]. - General and administrative costs rose by $14.6 million, or 47%, to $45.7 million, primarily due to a $12.4 million increase in stock-based compensation[188]. - Engineering services costs increased by $2.3 million, or 12%, to $21.8 million for the three months ended September 30, 2024[175]. - Research and development costs increased by $5.3 million, or 56%, to $14.7 million for the three months ended September 30, 2024[177]. - Research and development costs decreased by $13.3 million, or 36%, to $23.4 million, attributed to the completion of certain satellite subsystems and infrastructure programs[189]. - Depreciation and amortization expenses increased by $20.0 million, or 57%, to $54.9 million, mainly due to the commencement of depreciation for the BW3 test satellite[190]. - Depreciation and amortization expense decreased by $4.5 million, or 24%, to $14.5 million for the three months ended September 30, 2024[178]. Capital and Financing - The company has entered into a new Equity Distribution Agreement to sell shares of Class A common stock with an aggregate sales price of up to $400.0 million through an "at the market offering" program[152]. - The company sold shares of Class A Common Stock under the 2024 Sales Agreement for an aggregate sales price of up to $400.0 million[208]. - The company estimates needing to raise approximately $120.0 million to $170.0 million to meet current working capital needs and fund the launch of 20 Block 2 BB satellites[200]. - The company plans to raise additional capital through various means, including equity and debt securities, to support its operational and strategic needs[202]. - The company issued Convertible Notes for an aggregate principal amount of $110.0 million to AT&T, Google, and Vodafone, with a 5.50% annual interest rate[220]. - Public Warrants redemption resulted in the exercise of 13,358,174 warrants, generating net proceeds of $153.3 million during the three months ended September 30, 2024[155]. - During the nine months ended September 30, 2024, 13,358,174 Public Warrants were exercised, resulting in net proceeds of $153.3 million[209]. Cash Flow - Cash used in operating activities decreased to $97.7 million for the nine months ended September 30, 2024, compared to $124.0 million for the same period in 2023, a decrease of $26.3 million[226]. - Cash used in investing activities was $92.1 million for the nine months ended September 30, 2024, down from $96.5 million in the same period in 2023[227]. - Cash provided by financing activities increased significantly to $620.4 million during the nine months ended September 30, 2024, compared to $117.4 million in the same period in 2023, an increase of $503.0 million[228]. - As of September 30, 2024, the company had $518.9 million in cash and cash equivalents, including $2.5 million of restricted cash, and raised $298.2 million in net proceeds from Public Warrants exercises[196]. - As of September 30, 2024, cash, cash equivalents, and restricted cash totaled $518.9 million, compared to $135.7 million in 2023[231]. Commitments and Agreements - Contractual commitments with third parties totaled $130.7 million related to satellite components and future launch payments, with minimum commitments under launch agreements of approximately $105.0 million[205]. - The company received an initial $20.0 million commercial payment from Verizon Wireless, which will be credited against future service revenue[223]. - The AT&T Commercial Agreement includes a non-refundable commercial payment of $20.0 million due upon the launch of the Block 1 BB satellites[225]. Compliance and Reporting - The company prepared its unaudited condensed consolidated financial statements in accordance with U.S. GAAP, requiring management to make complex judgments and estimates that could materially impact reported financials[235]. - As of September 30, 2024, the company had no off-balance sheet arrangements[236]. - The company qualifies as a smaller reporting company and is not required to provide additional market risk disclosures[237].

Financial Performance - Revenues for the three months ended September 30, 2024, were $1,100,000, compared to $0 for the same period in 2023[13] - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(171,946,000), compared to $(20,909,000) for the same period in 2023[13] - Basic and diluted net loss per share for the three months ended September 30, 2024, was $(1.10), compared to $(0.23) for the same period in 2023[13] - Total comprehensive loss attributable to common stockholders for the three months ended September 30, 2024, was $(171,645,000), compared to $(21,056,000) for the same period in 2023[14] - Total operating expenses for the nine months ended September 30, 2024, were $186,538,000, an increase from $161,489,000 in 2023, representing a 15.5% increase[13] Cash and Liquidity - As of September 30, 2024, the company had cash, cash equivalents, and restricted cash totaling $518.9 million, benefiting from a $153.3 million net proceeds from warrant redemption[4] - Cash, cash equivalents, and restricted cash at the end of the period were $518,886,000, compared to $135,726,000 at the end of September 30, 2023[15] - Net cash used in operating activities for the nine months ended September 30, 2024, was $(97,703,000), compared to $(124,041,000) for the same period in 2023, indicating a 21.3% improvement[15] - Proceeds from the issuance of common stock for the nine months ended September 30, 2024, were $338,911,000, compared to $65,003,000 for the same period in 2023[15] Operating Expenses - Total operating expenses for Q3 2024 were $66.6 million, an increase of $2.7 million from $63.9 million in Q2 2024, primarily due to a $10.3 million increase in research and development costs[5] - Adjusted operating expenses for Q3 2024 were $45.3 million, reflecting a $10.7 million increase compared to $34.6 million in Q2 2024[5] - Engineering services costs for the three months ended September 30, 2024, were $21,202,000, with stock-based compensation of $(2,032,000), resulting in adjusted costs of $19,170,000[17] - Adjusted operating expenses, engineering services costs, and general and administrative costs are non-GAAP financial measures used by the company to evaluate operating performance[18] - These measures are not standardized under U.S. GAAP, limiting their comparability with similar measures from other companies[18] - The company uses these adjusted measures for preparing annual operating budgets and financial projections[18] Assets and Liabilities - The total liabilities as of September 30, 2024, were $318.8 million, compared to $147.3 million as of December 31, 2023[12] - The accumulated deficit as of September 30, 2024, was $(453.9) million, an increase from $(189.7) million as of December 31, 2023[12] - The total stockholders' equity increased to $502.8 million as of September 30, 2024, compared to $213.6 million as of December 31, 2023[12] Business Developments - The first five commercial BlueBird satellites successfully entered initial operations and filed a Special Temporary Authority request with the FCC to begin beta service with AT&T and Verizon[3] - The company secured new launch services agreements with Blue Origin and SpaceX for launches during 2025 and 2026, enabling the orbital launch of up to approximately 60 Block 2 BlueBird satellites[3] - The initial validation of the AST5000 ASIC chip was achieved, with plans for commissioning during 2025, supporting peak data transmission speeds up to 120 Mbps[3] - The company added three new contract awards with the U.S. Government, expanding its customer ecosystem and leveraging existing in-orbit technology capabilities[3] Other Financial Metrics - The company reported a loss on remeasurement of warrant liabilities of $(236,912,000) for the three months ended September 30, 2024[13]