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ASTS

AST SpaceMobile, Inc.

ASTS

AST SpaceMobile, Inc. • NASDAQ
$56.52 ▲ 1.80% (+1.00)
Market Cap $16.88 B
52w High $102.79
52w Low $17.50
Dividend Yield 0%
P/E -49.58
Volume 4.20M
Outstanding Shares 203.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $14.739M ▲ $88.904M ▲ $-122.874M ▼ -833.666% ▲ $-0.45 ▼ $-143.192M ▼
Q2-2025 $1.156M ▲ $73.953M ▲ $-99.394M ▼ -8.598K% ▼ $-0.41 ▼ $-117.784M ▼
Q1-2025 $718K ▼ $36.477M ▼ $-45.706M ▼ -6.366K% ▼ $-0.2 ▼ $-47.457M ▲
Q4-2024 $1.918M ▲ $52.182M ▼ $-35.857M ▲ -1.869K% ▲ $-0.18 ▲ $-50.264M ▲
Q3-2024 $1.1M $66.646M $-171.946M -15.631K% $-1.1 $-286.505M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.204B ▲ $2.551B ▲ $924.884M ▲ $1.24B ▲
Q2-2025 $923.647M ▲ $1.881B ▲ $723.612M ▲ $867.369M ▲
Q1-2025 $873.778M ▲ $1.37B ▲ $602.986M ▲ $568.603M ▲
Q4-2024 $564.988M ▲ $954.561M ▲ $285.415M ▼ $479.115M ▲
Q3-2024 $516.389M $821.649M $318.848M $308.92M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-122.874M ▲ $-64.462M ▼ $-266.384M ▲ $611.426M ▲ $280.723M ▲ $-302.885M ▲
Q2-2025 $-135.903M ▼ $-43.478M ▼ $-310.166M ▼ $419.762M ▼ $64.942M ▼ $-353.644M ▼
Q1-2025 $-63.628M ▼ $-28.546M ▼ $-120.456M ▼ $455.865M ▲ $306.924M ▲ $-149.002M ▼
Q4-2024 $-52.096M ▲ $-28.44M ▲ $-82.032M ▼ $159.541M ▼ $48.648M ▼ $-110.472M ▼
Q3-2024 $-303.08M $-33.429M $-30.325M $294.683M $231.319M $-63.754M

Five-Year Company Overview

Income Statement

Income Statement AST SpaceMobile is still essentially a pre‑revenue company: commercial sales have not started in a meaningful way. The income statement is dominated by research, engineering, and overhead costs, which have been rising as the company builds and tests its network. Losses have grown over time, both at the operating level and after all expenses, reflecting the scale‑up in activity ahead of launch. In plain terms, this is a “spend now, earn later” profile, with profitability entirely dependent on successful commercial rollout over the next several years.

Balance Sheet

Balance Sheet The balance sheet has strengthened recently, with total assets and cash rising meaningfully, suggesting fresh funding and investment into satellites and technology. Equity has also increased, which generally indicates additional capital raised rather than profits. Debt has grown but still appears modest relative to total assets, although even a small amount of debt matters for a business without current revenue. Overall, the company now looks better capitalized than in prior years, but it remains asset‑heavy and dependent on future financing and execution to support its build‑out.

Cash Flow

Cash Flow Cash flow is clearly in investment mode. Operating cash flow is negative and has become more so as the company ramps up staff, testing, and operations. Capital spending has also increased, leading to significantly negative free cash flow. This pattern is typical for a space and communications startup, but it means the business relies on external funding to cover its cash burn until commercial services begin to generate meaningful inflows.

Competitive Edge

Competitive Edge AST SpaceMobile is trying to carve out a unique spot in satellite communications by offering direct connections to ordinary smartphones, rather than requiring special devices. Its early technical demonstrations, large patent portfolio, and partnerships with major mobile operators give it a potentially strong starting position. Access to valuable spectrum through these partners and its first‑mover status in true cellular broadband from space add to its potential moat. However, this is an emerging field with powerful potential rivals and high regulatory and execution hurdles, so its long‑term competitive strength is promising but not yet proven.

Innovation and R&D

Innovation and R&D The company’s core value today is its technology and R&D rather than its current financial performance. It is pioneering large, advanced antennas in low‑Earth orbit and a patented system architecture designed to talk directly to standard 4G and 5G phones. Successful real‑world tests, including 5G connections from space, suggest the concept works technically. Ongoing work on larger, more capable next‑generation satellites shows a clear innovation roadmap, but it also means continued heavy spending before those efforts translate into stable, recurring revenue.

Summary

AST SpaceMobile is a high‑innovation, high‑risk development‑stage company: very little revenue today, rising losses, but a materially stronger cash and asset base after recent funding. The business model depends on turning its technology, patents, and carrier partnerships into a functioning global service over the next few years. If execution, launches, and regulatory approvals go as planned, the financial picture could change sharply; if they do not, the current cash burn and capital intensity are key vulnerabilities. In short, the story today is mostly about technology milestones and commercialization progress, not about current earnings or cash generation.

NEWS

November 25, 2025 · 8:00 AM UTC

AST SpaceMobile Expands Manufacturing Footprint in Both Texas and Florida, Accelerates Next-Generation BlueBird Production

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November 21, 2025 · 8:00 AM UTC

AST SpaceMobile Announces BlueBird 6 Launch Date, the Largest Commercial Communications Array Ever Deployed in Low Earth Orbit

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November 10, 2025 · 4:15 PM UTC

AST SpaceMobile Provides Business Update and Third Quarter 2025 Results

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November 7, 2025 · 2:00 AM UTC

Vodafone and AST SpaceMobile Announce New EU Satellite Constellation and Select Germany for European Sovereign Satellite Operations Centre

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October 29, 2025 · 9:00 AM UTC

stc group and AST SpaceMobile Announce 10-Year Commercial Agreement and Long-Term Revenue Commitment for Space-based Cellular Broadband Connectivity

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