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AST SpaceMobile(ASTS) - 2025 Q1 - Quarterly Results
ASTSAST SpaceMobile(ASTS)2025-05-12 20:35

Financial Position - As of March 31, 2025, AST SpaceMobile had cash, cash equivalents, and restricted cash totaling 874.5million[10]−ASTSpaceMobile′stotalassetsasofMarch31,2025,were874.5 million[10] - AST SpaceMobile's total assets as of March 31, 2025, were 1.37 billion, compared to 954.6millionasofDecember31,2024[17]−CashandcashequivalentsattheendofQ12025were954.6 million as of December 31, 2024[17] - Cash and cash equivalents at the end of Q1 2025 were 874,458,000, significantly up from 212,440,000attheendofQ12024,markinga311.5212,440,000 at the end of Q1 2024, marking a 311.5% increase[21] Revenue and Growth - The company anticipates generating revenue between 50.0 million and 75.0millioninthesecondhalfof2025[3]−RevenuesforQ12025increasedto75.0 million in the second half of 2025[3] - Revenues for Q1 2025 increased to 718,000 from 500,000inQ12024,representinga43.6500,000 in Q1 2024, representing a 43.6% growth[18] - Gateway equipment bookings from MNO partners reached 13.6 million in Q1 2025, with an expected average of 10.0millionperquarterduring2025[4]−ThecompanyhassignedanewcontractwiththeDefenseInnovationUnitforupto10.0 million per quarter during 2025[4] - The company has signed a new contract with the Defense Innovation Unit for up to 20.0 million in revenue[4] Operating Expenses - Total operating expenses for Q1 2025 were 63.7million,anincreaseof63.7 million, an increase of 3.1 million compared to Q4 2024[10] - Adjusted operating expenses for Q1 2025 were 44.9million,up44.9 million, up 4.1 million from 40.8millioninQ42024[10]−Totaloperatingexpensesroseto40.8 million in Q4 2024[10] - Total operating expenses rose to 63,681,000 in Q1 2025, compared to 56,000,000inQ12024,anincreaseof13.056,000,000 in Q1 2024, an increase of 13.0%[18] - Engineering services costs for Q1 2025 were 27,204,000, up from 19,511,000inQ12024,ariseof39.019,511,000 in Q1 2024, a rise of 39.0%[22] - Stock-based compensation expense for Q1 2025 was 7,826,000, compared to 4,933,000inQ12024,anincreaseof58.54,933,000 in Q1 2024, an increase of 58.5%[22] Losses and Cash Flow - Net loss attributable to common stockholders was 45,706,000 in Q1 2025, up from 19,730,000inQ12024,reflectinga131.519,730,000 in Q1 2024, reflecting a 131.5% increase in losses[18] - The company reported a total comprehensive loss of 45,432,000 for Q1 2025, compared to 19,836,000inQ12024,anincreaseof129.019,836,000 in Q1 2024, an increase of 129.0%[19] - Cash used in operating activities decreased to 28,546,000 in Q1 2025 from 48,122,000inQ12024,areductionof40.548,122,000 in Q1 2024, a reduction of 40.5%[21] - The company incurred a loss of 3,206,000 on the remeasurement of warrant liabilities in Q1 2025, contrasting with a gain of 18,214,000inQ12024[21]CapitalExpendituresandProduction−Thecompanyhasincurredapproximately18,214,000 in Q1 2024[21] Capital Expenditures and Production - The company has incurred approximately 584.1 million in gross capitalized property and equipment costs as of March 31, 2025[10] - AST SpaceMobile is on track to manufacture 40 Block 2 BlueBird satellites, with a target of six satellites per month during 2025[3] - AST SpaceMobile plans to support five scheduled orbital launches over the next six to nine months, with the first Block 2 BlueBird satellite expected to launch in July 2025[3] - Proceeds from debt in Q1 2025 amounted to 449,248,000,significantlyhigherthan449,248,000, significantly higher than 110,000,000 in Q1 2024, indicating a 308.4% increase[21]