NASDAQ
5 days, 16 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile COO Sells 10,000 Shares Under Pre-Arranged Trading Plan
AST SpaceMobile, Inc.'s Chief Operating Officer, Shanti B. Gupta, sold 10,000 shares of Class A Common Stock for approximately $41.84 per share under a Rule 10b5-1 trading plan.
NASDAQ
11 days, 18 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile COO Sells 15,000 Shares Under Pre-Arranged Trading Plan
AST SpaceMobile's Chief Operating Officer, Shanti B. Gupta, sold 15,000 shares of Class A Common Stock for approximately $541,200 as part of a pre-arranged Rule 10b5-1 trading plan.
NASDAQ
11 days, 18 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile Director Adriana Cisneros Granted Restricted Stock Units
AST SpaceMobile, Inc. Director Adriana Cisneros was granted 4,810 restricted stock units, aligning her interests with shareholders and vesting based on continued service.
NASDAQ
11 days, 18 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile Director Julio Torres Receives Equity Grant, Aligning Interests with Shareholders
AST SpaceMobile, Inc. Director Julio A. Torres was granted 4,810 restricted stock units, increasing his beneficial ownership to 57,438 shares.
NASDAQ
11 days, 18 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile CTO Sells Shares to Cover Tax Liabilities from Option Exercise
AST SpaceMobile's Chief Technology Officer, Huiwen Yao, sold 4,250 shares of Class A Common Stock for $34.6 per share to cover tax obligations related to a recent option exercise.
NASDAQ
12 days, 14 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile Director Johan Wibergh Granted 4,810 Restricted Stock Units
AST SpaceMobile, Inc. Director Johan Wibergh has been granted 4,810 restricted stock units (RSUs) as part of his compensation, increasing his direct beneficial ownership to 28,200 Class A Common Stock shares.
NASDAQ
12 days, 14 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile Director Richard Sarnoff Granted Restricted Stock Units
AST SpaceMobile, Inc. Director Richard Sarnoff was granted 4,810 restricted stock units, increasing his direct beneficial ownership to 77,438 Class A Common Stock shares.
NASDAQ
12 days, 14 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile Director Ronald Rubin Granted Restricted Stock Units
AST SpaceMobile, Inc. Director Ronald L. Rubin was granted 4,810 restricted stock units (RSUs) on June 6, 2025, increasing his direct beneficial ownership to 70,438 Class A Common Stock shares.
NASDAQ
12 days, 18 hours ago 
ASTS
Ast Spacemobile, INC
8-K: AST SpaceMobile Stockholders Approve Key Governance Changes, Elect Directors at Annual Meeting
AST SpaceMobile, Inc. announced the successful passage of all proposals at its 2025 Annual Meeting of Stockholders, including an amendment allowing written consent for director removal and the annual advisory vote on executive compensation.
NASDAQ
12 days, 18 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile President Executes Pre-Planned Stock Sale
AST SpaceMobile President Scott Wisniewski reported the sale of 50,000 shares of Class A Common Stock at $35.65 per share on June 9, 2025, pursuant to a Rule 10b5-1 plan.
NASDAQ
18 days, 17 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile Chief Accounting Officer Reports RSU Grant and Tax-Related Share Withholding
AST SpaceMobile's Chief Accounting Officer, Maya Bernal, reported the grant of 20,000 restricted stock units and the withholding of 5,418 shares for tax purposes related to a prior RSU vesting.
NASDAQ
19 days, 18 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile CTO Exercises Equity Options, Acquires 25,000 Class A Common Shares
AST SpaceMobile's Chief Technology Officer, Huiwen Yao, acquired 25,000 shares of Class A Common Stock through the exercise of incentive equity options.
NASDAQ
33 days, 19 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile's Chief Technology Officer, Huiwen Yao, Sells 55,000 Shares
Huiwen Yao, Chief Technology Officer of AST SpaceMobile, recently sold 55,000 shares of Class A Common Stock at an average price of $26.82 per share.
NASDAQ
40 days, 3 hours ago 
ASTS
Ast Spacemobile, INC
8-K: AST SpaceMobile Announces $500 Million At-the-Market Offering
AST SpaceMobile enters into an equity distribution agreement to sell up to $500 million of Class A common stock through an at-the-market offering.
Capital raise
 
NASDAQ
40 days, 19 hours ago 
ASTS
Ast Spacemobile, INC
10-Q: AST SpaceMobile Reports Q1 2025 Results, Highlights Progress on Satellite Deployment and Spectrum Acquisition
AST SpaceMobile reports its Q1 2025 financial results, showcasing advancements in satellite technology and strategic spectrum agreements.
Capital raise
 
Worse than expected
 
NASDAQ
40 days, 19 hours ago 
ASTS
Ast Spacemobile, INC
8-K: AST SpaceMobile Announces First Quarter 2025 Results and Business Update, Plans Five Satellite Launches
AST SpaceMobile reports progress on its space-based cellular broadband network, including plans for five satellite launches and potential revenue generation in 2025.
Better than expected
 
NASDAQ
43 days, 17 hours ago 
ASTS
Ast Spacemobile, INC
4/A: AST SpaceMobile CFO Andrew Johnson Amends Form 4 Filing to Correct Tax Withholding on RSU Vesting
Andrew Johnson, CFO and CLO of AST SpaceMobile, amended a previous Form 4 filing to correct the number of shares withheld for tax liability related to the vesting of Restricted Stock Units.
NASDAQ
43 days, 17 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile COO Shanti Gupta Disposes of Shares to Cover Tax Obligations
Shanti Gupta, COO of AST SpaceMobile, sold shares to cover tax liabilities related to the vesting of restricted stock units.
NASDAQ
43 days, 17 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile President Wisniewski Disposes of Shares to Cover Tax Obligations
Scott Wisniewski, President of AST SpaceMobile, disposed of 34,432 shares of Class A Common Stock to cover tax liabilities related to vesting of Restricted Stock Units.
NASDAQ
45 days, 19 hours ago 
ASTS
Ast Spacemobile, INC
Form 4: AST SpaceMobile CFO Andrew Johnson Reports Tax-Related Stock Transaction
Andrew Johnson, CFO and CLO of AST SpaceMobile, reports a transaction involving the withholding of shares to cover tax liabilities upon the vesting of restricted stock units.
ASTS 
Ast Spacemobile, INC 
NASDAQ

10-Q: AST SpaceMobile Reports Q1 2025 Results, Highlights Progress on Satellite Deployment and Spectrum Acquisition

Sentiment:
 Quarterly Report
 12 May 2025 4:52 PM

AST SpaceMobile reports its Q1 2025 financial results, showcasing advancements in satellite technology and strategic spectrum agreements.

Capital raise
  The company issued $460.0 million aggregate principal amount of convertible senior notes due 2032.  The company entered into an Equity Distribution Agreement to sell shares of Class A Common Stock having an aggregate sale price of up to $400.0 million through an at the market offering program.  The company plans to raise additional capital through the issuance of equity, equity-linked or debt securities (secured or unsecured), secured or unsecured loans or other debt facilities, and credit from government or financial institutions or commercial partners. 

Worse than expected
  The net loss attributable to common stockholders increased significantly compared to the same period last year.  Engineering services costs, general and administrative costs, and research and development costs all increased compared to the same period last year. 

Summary
  • AST SpaceMobile reported a net loss attributable to common stockholders of $45.7 million, or $0.20 per share, for the three months ended March 31, 2025.
  • This compares to a net loss of $19.7 million, or $0.16 per share, for the same period in 2024.
  • Revenues increased to $0.7 million, up from $0.5 million in the prior year, driven by government contracts and gateway equipment sales.
  • Engineering services costs rose to $27.2 million, and general and administrative costs increased to $18.4 million.
  • Research and development costs also increased to $7.1 million.
  • The company issued $460 million in convertible senior notes due 2032 and converted $147.959 million of 2034 Convertible Notes into Class A Common Stock.
  • AST SpaceMobile continues to develop its SpaceMobile Service, aiming for initial noncontinuous service in select markets.
  • The company is progressing with the assembly and testing of its next-generation Block 2 BB satellites, targeting launches in 2025 and 2026.
  • A strategic collaboration with Ligado is expected to provide long-term access to mid-band spectrum in the U.S. and Canada.
  • The company has purchase commitments of approximately $300 million related to satellite components and R&D, and $300-350 million for future launches.
Sentiment

Score: 6

Explanation: The sentiment is neutral. While the company is making progress on its technology and partnerships, the increased net loss and operating expenses are concerning. The potential for future capital raises also adds uncertainty.

Positives
  • Revenue increased by 44% compared to the same period last year.
  • Successful completion of video calls from space with Vodafone, and voice/video call tests with AT&T and Verizon.
  • Successful two-way broadband video call with Rakuten Mobile.
  • The company secured a $550 million institutional financing commitment for the Ligado spectrum usage rights transaction.
  • The company has a strong IP portfolio with over 3,650 patent and patent pending claims worldwide.
Negatives
  • Net loss attributable to common stockholders increased to $45.7 million from $19.7 million in the prior year.
  • Engineering services costs increased by 39% compared to the same period last year.
  • General and administrative costs increased by 50% compared to the same period last year.
  • Research and development costs increased by 68% compared to the same period last year.
Risks
  • The company is an early-stage company and is subject to all of the risks associated with early-stage companies.
  • The company needs to obtain regulatory approvals in each jurisdiction where it would provide SpaceMobile Service.
  • The company needs to enter into commercial agreements with MNOs relating to the offering of SpaceMobile Service in each jurisdiction.
  • The timing of shipment and launch of the Block 2 BB satellites are contingent on a number of factors including satisfactory and timely completion of the assembly and testing of the Block 2 BB satellites, regulatory approvals for the shipment and launch, availability of capital, readiness of the launch vehicle, logistics and other factors, many of which are beyond the company's control.
  • Changes in U.S. trade policy, including changes to existing trade agreements and any resulting changes in international trade relations, may have a material adverse effect on the company's business, prospects, financial condition or operating results.
  • The company's ability to access the capital markets during this period of volatility may require the company to modify its current expectations.
  • There can be no assurance that additional funds will be available to the company on favorable terms or at all.
Future Outlook

AST SpaceMobile plans to initiate a limited, noncontinuous SpaceMobile Service in targeted geographical markets, including the United States, and validate and test non-commercial government applications and seek to generate revenue from such services. The company is also focused on the assembly and testing of its next-generation Block 2 BB satellites, targeting launches in 2025 and 2026 to enable Continuous SpaceMobile Service.

Management Comments
  • The company intends to continue testing capabilities of the BW3 test satellite, including further testing with cellular service providers and the U.S. government.
  • The company expects to continue testing for SpaceMobile Service automation including beta testing prior to rollout of initial noncontinuous SpaceMobile Service in select markets including the United States, Europe and Japan.
  • The company believes it is fully funded for operating expenses and capital expenditures necessary to design, manufacture, and launch 20 Block 2 BB satellites and operate a constellation of 25 BB satellites.
Industry Context

AST SpaceMobile is positioning itself to compete in the emerging market for space-based cellular broadband, aiming to provide connectivity directly to standard smartphones. The company's partnerships with major mobile network operators like AT&T, Verizon, Vodafone, and Rakuten Mobile are crucial for its go-to-market strategy. The strategic collaboration with Ligado for spectrum access is also a significant development in securing necessary resources for its operations.

Comparison to Industry Standards
  • AST SpaceMobile's approach of providing direct-to-device connectivity differentiates it from traditional satellite internet providers like Starlink and Viasat, which require specialized equipment.
  • The company's focus on partnering with MNOs aligns with a wholesale model, contrasting with direct-to-consumer approaches.
  • The successful completion of video calls and broadband tests with unmodified smartphones demonstrates progress towards achieving its technical goals, setting it apart from competitors still in early development stages.
  • The company's large phased array technology is expected to provide greater spectrum reuse, enhanced signal strength and increased capacity, thereby reducing the necessary number of satellites to achieve service coverage as compared to smaller apertures.
Stakeholder Impact
  • Shareholders: Dilution from equity issuances and potential for increased value if the company executes its business plan.
  • Employees: Continued employment and potential for stock-based compensation.
  • Customers (MNOs): Opportunity to expand coverage and improve service offerings.
  • Suppliers: Continued business and potential for increased orders as the company scales up production.
  • Creditors: Increased debt and potential for repayment if the company generates sufficient revenue.
Next Steps
  • Continue testing for SpaceMobile Service automation including beta testing prior to rollout of initial noncontinuous SpaceMobile Service in select markets including the United States, Europe and Japan.
  • Ship the first next-generation Block 2 BB satellite (FM 1) to the launch provider during the second quarter of 2025 for a launch scheduled in July 2025.
  • Continue with manufacturing, assembly, integration and testing of the Block 2 BB satellites at the current capacity and once the company completes its planned investments to increase the capacity to assemble, integrate, and test up to six Block 2 BB satellites per month in 2025, the company plans to accelerate the manufacturing, assembly, integration and testing of the Block 2 BB satellites to meet its planned launches in 2025 and 2026.
  • Obtain additional approvals from the FCC including the company's application to request authority to add additional satellites and frequencies for use with the SpaceMobile Service in the United States, including the incorporation of Verizon frequencies, and the company will need to obtain additional approvals from other regulatory authorities outside the United States.
  • Close the proposed transaction with Ligado.
Legal Proceedings
  • Two stockholders filed putative class action complaints in the Delaware Court of Chancery against the Company, certain current and former directors and officers of the Company and its predecessor entity and manager, New Providence Acquisition Corp. and New Providence Management LLC, and Abel Avellan, alleging claims of breach of fiduciary duties, aiding and abetting such breaches, and unjust enrichment, relating to the Company's de-SPAC merger.
  • On February 11, 2025, the plaintiffs filed a notice voluntarily dismissing the complaints without prejudice, and on April 22, 2025, the Delaware Court of Chancery issued an order dismissing the complaints without prejudice.
Key Dates
  • September 10, 2022: Launched Blue Walker 3 (BW3) test satellite.
  • November 14, 2022: Completed deployment of the communication phased array antenna of the BW3 test satellite in orbit.
  • September 12, 2024: Launched five first generation commercial BB satellites (Block 1 BB satellites).
  • October 2024: Completed the deployment of the communication phased array antennas and Q/V antennas in orbit and performed a series of monitoring tests and activities to confirm the successful initial operations of the Block 1 BB satellites.
  • January 27, 2025: Issued $460.0 million aggregate principal amount of convertible senior notes due 2032.
  • January 2025: Successfully made the first video call from space with Vodafone using standard unmodified 4G/5G smartphones.
  • February 2025: Completed the voice and video call tests on standard unmodified smartphones with AT&T and Verizon in the U.S. and also completed the tests for non-communication applications for the U.S. government.
  • March 22, 2025: Entered into definitive agreements with Ligado for usage rights for mid-band spectrum and issued 4,714,226 Penny Warrants.
  • April 2025: Successfully conducted a two-way broadband video call with Rakuten Mobile using unmodified smartphones on the SpaceMobile network.
  • April 25, 2025: Entered a new contract with the DIU through a prime contractor with total expected revenue of up to approximately $20.0 million for SpaceMobile capabilities with multiple U.S. government agencies in support of government communications over land, sea, and air.
  • July 2025: Scheduled launch of the first next-generation Block 2 BB satellite (FM 1).
Keywords
SpaceMobile, Satellites, Broadband, Spectrum, 5G, ASTS, LEO, MNO, Convertible Notes, Financial Results
ASTS 
Ast Spacemobile, INC 
NASDAQ
Sector: TBD
 
Filings with Classifications
Capital raise
13 May 2025 8:37 AM
8-K Filing
  • AST SpaceMobile has entered into an Equity Distribution Agreement to sell up to $500 million of its Class A common stock.
  • The shares will be sold through an at-the-market offering program.
  • The company intends to use the proceeds for general corporate purposes.
Worse than expected
12 May 2025 4:52 PM
Quarterly Report
  • The net loss attributable to common stockholders increased significantly compared to the same period last year.
  • Engineering services costs, general and administrative costs, and research and development costs all increased compared to the same period last year.
Capital raise
12 May 2025 4:52 PM
Quarterly Report
  • The company issued $460.0 million aggregate principal amount of convertible senior notes due 2032.
  • The company entered into an Equity Distribution Agreement to sell shares of Class A Common Stock having an aggregate sale price of up to $400.0 million through an at the market offering program.
  • The company plans to raise additional capital through the issuance of equity, equity-linked or debt securities (secured or unsecured), secured or unsecured loans or other debt facilities, and credit from government or financial institutions or commercial partners.
Better than expected
12 May 2025 4:35 PM
Quarterly Report
  • The company is ahead of schedule with satellite manufacturing and launch plans.
  • The company has secured contracts with the U.S. Space Development Agency and the Defense Innovation Unit.
  • The company has secured initial clearances for quasi-governmental funding with EXIM and IFC for over $500.0 million in potential new non-dilutive capital.
Capital raise
3 March 2025 9:31 PM
Annual Report
  • The company intends to seek to raise additional capital to fund the design, assembly and launch of its constellation and operation of the commercial services through the issuance of equity, equity-linked or debt securities (secured or unsecured), secured or unsecured loans or other debt facilities, and credit from government or financial institutions or commercial partners, including through its existing 2024 ATM Equity Program.
Delay expected
3 March 2025 9:31 PM
Annual Report
  • The timing of shipment of the first Block 2 BB satellite is contingent on a number of factors including satisfactory and timely completion of the assembly and testing of the Block 2 BB satellite, regulatory approvals for the launch, readiness of the launch vehicle, logistics and other factors, many of which are beyond our control.
Worse than expected
3 March 2025 9:31 PM
Annual Report
  • The company reported a net loss of $300.1 million, significantly worse than the previous year.
Capital raise
10 February 2025 11:37 PM
Beneficial Ownership Disclosure
  • The document details a Convertible Security Investment Agreement dated January 16, 2024, where AT&T Investments purchased a subordinated convertible note from AST SpaceMobile, Inc. for a principal amount of $35.0 million. This note served as a capital raise for AST SpaceMobile.
Capital raise
27 January 2025 4:05 PM
Debt Offering Announcement
  • AST SpaceMobile completed a private offering of $460 million aggregate principal amount of 4.25% Convertible Senior Notes due 2032.
  • The offering included the exercise in full of the initial purchasers option to purchase up to an additional $60 million principal amount of the Notes.
Worse than expected
27 January 2025 6:02 AM
Ownership Disclosure Amendment
  • The document indicates a dilution of ownership for existing shareholders due to the conversion of convertible notes, which is generally viewed negatively by the market.
Capital raise
22 January 2025 4:10 PM
Current Report
  • AST SpaceMobile is proposing a private offering of $400.0 million aggregate principal amount of convertible senior notes due 2032.
  • The company also intends to grant the initial purchasers of the notes in the offering an option to purchase up to an additional $60.0 million aggregate principal amount of notes.
  • The company currently has approximately $66.0 million of availability remaining under its equity distribution agreement dated September 5, 2024 entered into with the agents named therein (the 2024 ATM equity program).
  • The Company may seek to enter into a new equity ATM program in the future.
Capital raise
7 January 2025 8:01 AM
Strategic Collaboration Announcement
  • AST SpaceMobile has secured a $550 million institutional financing commitment in the form of a non-recourse senior-secured delayed-draw term loan facility.
  • The facility will be used to support payment obligations related to the AST Transaction.
Capital raise
6 January 2025 8:15 AM
Strategic Agreement Announcement
  • AST SpaceMobile has received a $550 million institutional financing commitment to finance a planned wholly owned special-purpose vehicle (SPV).
  • This financing is in the form of a non-recourse senior-secured delayed-draw term loan facility.
Capital raise
14 November 2024 4:25 PM
Quarterly Report
  • The company established a new equity distribution agreement on September 5, 2024, allowing for the sale of up to $400 million of Class A common stock.
  • The company plans to raise additional capital through the issuance of equity, equity-linked or debt securities, secured or unsecured loans or other debt facilities, and credit from government or financial institutions or commercial partners.
Worse than expected
14 November 2024 4:25 PM
Quarterly Report
  • The company's net loss attributable to common stockholders was significantly higher than the same period last year.
  • The company incurred a substantial loss from the remeasurement of warrant liabilities.
Capital raise
14 November 2024 4:24 PM
Quarterly Report
  • The company received $153.3 million in net proceeds from the redemption of publicly traded warrants.
  • They are prioritizing raising strategic capital through non-dilutive approaches, including commercial prepayments and commitments from MNO partners.
  • They have filed a formal application with the Export-Import Bank of the United States (EXIM) for debt financing.
Capital raise
5 September 2024 9:35 AM
Equity Offering Announcement
  • AST SpaceMobile has entered into an Equity Distribution Agreement to sell up to $400 million of its Class A common stock through an at-the-market offering program.
  • The company will sell shares through various sales agents over a period of up to three years.
  • The offering is intended to provide the company with additional capital for general corporate purposes.
Delay expected
4 September 2024 6:24 PM
Business Update
  • The exact timing of the orbital launch is subject to change based on various factors, including launch readiness and weather conditions.
Capital raise
14 August 2024 4:35 PM
Quarterly Report
  • The company estimates needing to raise approximately $275.0 million to $325.0 million to fund operating expenses and capital expenditures necessary to design, assemble and launch 20 Block 2 BB satellites and operate a constellation of 25 BB satellites.
  • The company plans to raise additional capital through the issuance of equity, equity-linked or debt securities (secured or unsecured), secured or unsecured loans or other debt facilities, and credit from government or financial institutions or commercial partners.
Worse than expected
14 August 2024 4:35 PM
Quarterly Report
  • The company's net loss of $72.6 million for the three months ended June 30, 2024, and $92.3 million for the six months ended June 30, 2024, is significantly higher than the previous year, indicating worse than expected financial performance.
  • The company's loss on remeasurement of warrant liabilities of $66.1 million for the three months ended June 30, 2024, and $47.9 million for the six months ended June 30, 2024, is a significant negative impact on the company's financial results.
Capital raise
14 August 2024 4:34 PM
Quarterly Report
  • Verizon has made a $100 million strategic investment, including $65 million in commercial prepayments and $35 million in convertible notes.
  • The company has additional liquidity of $51.5 million available to draw under the Senior Secured Credit Facility, subject to certain conditions and approvals.
Capital raise
30 July 2024 5:00 PM
Definitive Proxy Statement
  • The document mentions raising over $600.0 million of capital in the form of equity, convertible notes, and non-dilutive prepayments.
  • Vodafone agreed to purchase our subordinated convertible notes for an aggregate principal amount of $25.0 million.
Capital raise
29 May 2024 7:40 AM
Capital Raise Announcement
  • The company issued a $35 million subordinated convertible note to Verizon Ventures.
  • This is part of a larger $100 million investment and prepayment commitment from Verizon.
Capital raise
15 May 2024 4:19 PM
Quarterly Report
  • The company raised $110 million through convertible notes and $107.7 million from a common stock offering.
  • The company estimates it will need to raise approximately $350.0 million to $400.0 million to fund operating expenses and capital expenditures necessary to design, assemble and launch 20 Block 2 BB satellites and operate a constellation of 25 BB satellites.
  • The company plans to raise additional capital through the issuance of equity, equity-linked or debt securities, secured or unsecured loans or other debt facilities, and credit from government or financial institutions or commercial partners, including through its existing ATM Equity Program.
Worse than expected
15 May 2024 4:19 PM
Quarterly Report
  • The company's net loss increased compared to the same period last year, indicating that the company is not yet on a path to profitability.
Delay expected
1 April 2024 4:31 PM
Annual Results and Business Update
  • Production of five 700 sq. ft. Block 1 BlueBird satellites was impacted by two suppliers, leading to delays in integration and testing.
Worse than expected
1 April 2024 4:31 PM
Annual Results and Business Update
  • The company reported a net loss of $87.561 million for the year ended December 31, 2023, which is worse than the $31.640 million loss in 2022.
  • Total operating expenses increased significantly from $152.9 million in 2022 to $222.4 million in 2023.
Capital raise
1 April 2024 4:31 PM
Annual Results and Business Update
  • The company is progressing non-dilutive quasi-governmental funding sources, with non-binding letters of interest from three institutions.
  • AST SpaceMobile has additional liquidity of $51.5 million in gross proceeds available to draw under the Senior Secured Credit Facility, subject to certain conditions and approvals.
Worse than expected
1 April 2024 4:16 PM
Annual Results
  • The company reported a net loss attributable to common stockholders of $87.6 million for the year ended December 31, 2023, which is worse than the $31.6 million loss reported for the year ended December 31, 2022.
  • The company has not generated any revenues from its SpaceMobile Service to date.
Capital raise
1 April 2024 4:16 PM
Annual Results
  • The company anticipates needing to raise an additional $350 million to $400 million to fund operations and capital expenditures for 20 Block 2 BB satellites and operate a constellation of 25 BB satellites.
  • The company plans to raise additional capital through the issuance of equity, equity-linked or debt securities, secured loan facilities, or through obtaining credit from government or financial institutions or commercial partners, including through our existing Equity Line of Credit and the ATM Equity Program.
Delay expected
1 April 2024 4:16 PM
Annual Results
  • The completion of five Block 1 BB satellites has been delayed as compared to the target completion timeline due to a delay in the commencement of integration and testing of five Block 1 BB satellites.
  • The failure by suppliers of two key subsystems to meet their contractual delivery timelines contributed to this delay.
Capital raise
29 January 2024 4:10 PM
Current Report
  • The company closed an offering of 32,258,064 shares of Class A common stock.
  • The underwriters exercised an option to purchase an additional 4,838,709 shares.
  • The total net proceeds from the additional share offering were $14.1 million before expenses.
Capital raise
23 January 2024 4:10 PM
Capital Raise Announcement
  • The company closed a share offering of 32,258,064 shares, raising $94 million before expenses.
  • Underwriters have a 30-day option to purchase an additional 4,838,709 shares, potentially raising another $14.1 million before expenses.
Worse than expected
18 January 2024 4:36 PM
Strategic Investment and Capital Raise Announcement
  • The company's cash and cash equivalents decreased significantly from $239.3 million in 2022 to approximately $88.1 million in 2023.
  • Total operating expenses increased from $152.9 million in 2022 to between $216.8 million and $222.5 million in 2023.
  • The launch of the first five commercial BlueBird satellites has been delayed from the first quarter to the second quarter of 2024.
Delay expected
18 January 2024 4:36 PM
Strategic Investment and Capital Raise Announcement
  • The dedicated orbital launch for five Block 1 BB satellites, initially scheduled for late in the first quarter of 2024, is now expected to occur in the second quarter of 2024.
Capital raise
18 January 2024 4:36 PM
Strategic Investment and Capital Raise Announcement
  • The company plans to raise up to $306.5 million in gross proceeds through a combination of strategic investments, a credit facility draw, and a stock offering.
  • The company is launching a registered offering of $100 million in Class A common stock.
  • The company plans to seek a waiver to draw up to an additional $51.5 million under its senior-secured credit facility.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.