AST SpaceMobile, Inc.
investors.ast-science.comWhat Do They Do?
Sells satellite gateway equipment and software to mobile network operators, performs testing and development work for the U.S. government, and is building space-based cellular broadband for mobile subscribers.
10-K for FY2025, filed Mar 2, 2026The SpaceMobile Service has not been launched and therefore has not yet generated any revenue. We have recognized revenue from completion…View ↗
We also intend to leverage our patented technology, including the large phased array and high power capability of our BlueBird (“BB”)…View ↗
We are building the first and only global Cellular Broadband network in space to be accessible directly by everyday smartphones…View ↗
How Do They Make Money?
Mobile network operators buy gateway equipment and software, with sales counted when equipment is delivered and software activated. U.S. government testing and development work is invoiced at fixed-price milestones when completed and accepted.
10-K for FY2025, filed Mar 2, 2026
-
10-K for FY2025, filed Mar 2, 2026
FY2025 revenue by product or service ↗
$70.9M
-
10-K for FY2025, filed Mar 2, 2026
$70.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2025, filed Mar 2, 2026 |
63% |
Product, FY2025
$44.4M Sources
|
Sold outright |
|
Service
Sold outright
10-K for FY2025, filed Mar 2, 2026 |
37% |
Service, FY2025
$26.5M Sources
|
Sold outright |
Who Are Their Customers?
Mobile network operators buy gateway equipment and are expected to sell SpaceMobile coverage to their subscribers; U.S. government work is contracted directly or through prime contractors.
10-K for FY2025, filed Mar 2, 2026We have developed relationships with companies, such as Vodafone, Rakuten, AT&T, Verizon, Google, American Tower, STC, Bell Canada and…View ↗
The SpaceMobile Service is being designed to offer Cellular Broadband under our business model with MNOs. We expect the MNOs will market…View ↗
The SpaceMobile Service has not been launched and therefore has not yet generated any revenue. We have recognized revenue from completion…View ↗
Do Revenues Turn Into Profits?
No. It lost $341.9M in FY2025.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
−$230.9MView ↗
- ▲ +132% (Loss)
- vs −$99.4M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
-
Aug 10, 2026
Maintains full-year revenue guidance of $150.0 million to $200.0 million
Sources
8-K, filed Aug 10, 2026
On track to achieve full year 2026 revenue guidance of $150.0 million to $200.0 million, supported by additional contract awards from the…View ↗
Growing. Revenue grew 5.7x in 4 years, from $12.4M in FY2021 to $70.9M in FY2025, about 55% a year.
Revenue-sharing model
The earlier report described selling SpaceMobile services to mobile operators wholesale; the latest describes seeking revenue-sharing agreements with them.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 2, 2026Focus on Providing Wholesale Services to Mobile Network Operators. In addition to seeking complementary relationships with MNOs, we will…View ↗
Focus on Providing Services to Mobile Network Operators. In addition to seeking complementary relationships with MNOs, we will also seek to…View ↗
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