Core Insights - AST SpaceMobile Inc. is focused on creating the first space-based cellular broadband network, aiming to provide mobile connectivity directly from satellites to standard mobile phones, positioning itself against competitors like Rocket Lab [1] Financial Performance - On November 10, 2025, ASTS reported an EPS of -$0.45, missing the expected -$0.39, and revenue of $14.7 million, below the forecasted $22 million, attributed to delays in U.S. government contract milestones and gateway deliveries [2][6] - The company's net losses reached $122.9 million, exceeding the predicted loss of $94.9 million, indicating a faster-than-expected increase in operating expenses [3] - Despite having $1.2 billion in cash reserves, the rising cash burn rate raises concerns about the company's financial sustainability [3] Market Reaction - Despite the earnings miss, ASTS's stock price surged by 217% in 2025, suggesting that the market may have already factored in these operational challenges into the stock's valuation [4][6] Financial Ratios - ASTS has a low debt-to-equity ratio of 0.02, indicating minimal reliance on debt financing, and a current ratio of 8.23, reflecting strong short-term liability management capabilities [5]