Business Highlights - AST SpaceMobile achieved two-way video broadband calls using unmodified smartphones on its SpaceMobile network, enabled by a Block 1 BlueBird satellite, across the U S, Europe, and Japan[18, 29, 30] - The company anticipates second half 2025 revenue opportunity of $50 million to $75 million from advanced SpaceMobile network commercialization efforts[16] - Gateway equipment bookings reached $136 million in Q1 2025, with expected average quarterly bookings of approximately $10 million throughout 2025[26] - AST SpaceMobile contracted launches for over 60 satellites[15] Regulatory and Spectrum - The company received Special Temporary Approval (STA) from the FCC for FirstNet evaluation on public safety's Band 14 spectrum[34] - AST SpaceMobile established a coordination agreement with the U S National Science Foundation covering satellite and ground-based astronomy operations[34] - Definitive agreements were signed for long-term access to up to 45 MHz of premium lower mid-band spectrum in the U S for direct-to-device applications[34] Financial Status - AST SpaceMobile reported a robust balance sheet with $8745 million in cash, cash equivalents, and restricted cash as of March 31, 2025[18] - Adjusted operating expenses for Q1 2025 were $449 million, compared to $408 million in Q4 2024[39] - Capital expenditures increased to $1241 million in Q1 2025, from $860 million in Q4 2024[39]