AST SpaceMobile, Inc. (ASTS): A Bull Case Theory

Core Thesis - AST SpaceMobile, Inc. is positioned to become a transformative player in global connectivity through its ambitious plan to build the first space-based cellular broadband network, utilizing its BlueBird satellites to provide coverage to unmodified 4G/5G mobile phones [2][5] Company Developments - As of Q3 2025, AST SpaceMobile reported significant commercial traction with long-term agreements with Verizon and Saudi-based stc Group, along with partnerships with over 50 mobile-network operators, representing nearly three billion subscribers [3][4] - The company is advancing its satellite constellation, with BlueBird-6 delivered to a launch site in India and BlueBird-7 scheduled for launch at Cape Canaveral in late 2025, aiming to operate 45–60 satellites by the end of 2026 [4] Financial Commitments - AST SpaceMobile secured two landmark 10-year commercial agreements with Verizon and stc Group, including a US$175 million prepayment from stc expected by year-end, bringing total contracted revenue commitments to over US$1 billion [5] - The company's stock price has appreciated approximately 114.17% since May 2025, reflecting improved commercial readiness and expanding revenue visibility [6]