AST SpaceMobile Revenue Reaches $42.321 Million, Missing Expectations
Key Facts
AST SpaceMobile recorded revenue of $42.321 million in the three months ended September 30, 2026, compared with $14.739 million in the same period a year earlier, but fell short of analysts’ consensus of $47.94 million. The company attributed revenue to deliveries of communications gateways and the fulfillment of contracted ground stations for the U.S. government, according to its results filing with the U.S. Securities and Exchange Commission. Adjusted loss per share was $0.44, exceeding analysts’ forecast for a loss of $0.40, according to Investing.com. The company said product revenue came from sales of gateway equipment and related software to mobile network operators. SpaceMobile service revenue is recognized over the contract term, beginning when the network is made available to operators. The results highlight the company’s shift toward fulfilling existing deliveries and contracts, while recognition of service revenue remains tied to network availability.
Revenue comprised $20.571 million from products and $21.750 million from services, compared with $7.746 million and $6.993 million, respectively, a year earlier. Net loss before allocation to the noncontrolling interest was $171.810 million, compared with $163.827 million in the third quarter of 2025. Loss per share narrowed from $0.45 a year earlier to $0.44 in the latest quarter, according to the company’s statement. Total operating expenses were $211.026 million, including $77.4 million in depreciation and amortization and stock-based compensation. The figures show revenue growth alongside an increase in net loss and operating expenses. The company did not detail in the available figures how much service revenue would contribute once the network is operational.
AST kept its fiscal 2026 revenue outlook at a range of $150 million to $200 million and said there is room to raise guidance based on recently signed contracts. Cash, cash equivalents and restricted cash totaled about $3.2 billion as of September 30, 2026, according to the results statement. The company ties its future revenue path to communications gateway deliveries and completion of contracted ground stations, as well as network availability, when SpaceMobile service revenue recognition begins over the contract term. In its statement, it said its commercial ecosystem includes more than 60 mobile network operators representing more than 3 billion subscribers. Chief Executive Abel Avellan added that the company expects to work with major operators in the United States and Europe. The reported liquidity indicates available financing capacity as the company continues its satellite program and commercial expansion.
On expansion in Japan, Rakuten and AST announced on November 9 the establishment of Rakuten AST to develop a Japanese satellite constellation, and Rakuten said the project could receive support of up to 148 billion yen, or about $1 billion, over about three years. The project aims to begin local operations by the end of March 2029 using commercially available phones without specialized equipment. The agreement to establish the project was reached on November 6, according to Rakuten. The potential funding would support development of Japanese infrastructure, while the targeted start of operations comes more than two years after the project was announced. The companies said the planned service would operate through commercial phones, according to Rakuten’s statement.
AST SpaceMobile shares closed at $36.89 in the November 9 session, then rose 1.27% to $37.36 in extended trading after the results announcement, according to Investing.com. The company’s plan included activating intermittent coverage in the United States and other key markets before the end of 2026. It also aims to reach a production rate of six satellites equipped with ASIC chips per month in December 2026. The company plans to launch satellites through SpaceX, Blue Origin and other providers, targeting more than 100 BlueBird satellites launched in total during 2027 and 2028. Announced milestones include targeting about 45 satellites in orbit by mid-2027 and developing a reusable 20-ton Blacklift rocket to begin launching BlueBird satellites in late 2028. Rakuten AST is targeting local network operations in Japan by the end of March 2029.