AST SpaceMobile Revenue Reaches $42.321 Million, Missing Third-Quarter Estimates
Key Facts
AST SpaceMobile reported third-quarter results on November 9, posting revenue of $42.321 million, below analysts’ estimates of $47.94 million. The company said revenue came from deliveries of ground gateway equipment and the completion of contractual milestones with the U.S. government. The net loss attributable to common shareholders was $132.380 million, or $0.44 per share, compared with an earlier forecast for a loss of $0.40 per share. Revenue was higher than the $14.739 million reported in the same quarter a year earlier. The company held a business update call at 5:00 p.m. Eastern time on the day it announced results.
The results showed quarterly revenue rising from $14.739 million in the third quarter of the prior year to $42.321 million in the third quarter of 2026. Revenue nevertheless fell short of analysts’ estimate of $47.94 million, while the loss per share was $0.44 against an expected loss of $0.40. Reuters had reported before the results that the company recorded about $46.2 million in the first half of 2026. At the time, management’s full-year revenue guidance ranged from $150 million to $200 million. Figures published later show the company recorded $42.321 million in the third quarter, while its annual revenue target remained in place.
Total operating expenses were $211.0 million in the third quarter, compared with $329.1 million in the second quarter. The company attributed the decline mainly to the $125.9 million induced conversion loss recorded in the prior quarter. The reduction in expenses between the quarters therefore does not, by itself, reflect a comparable change in underlying operating performance. Cash, cash equivalents and restricted cash totaled about $3.2 billion as of September 30, 2026. The company said it remained on track to generate revenue of $150 million to $200 million during the fiscal year, with recent contract signings potentially allowing it to exceed that range.
Execution of the satellite program remains a key focus alongside the financial figures, after Reuters reported before the results that the company would miss its previous target of placing 45 satellites in orbit by year-end and that slower launches had pushed commercial service dates to 2027. In its update issued on results day, the company said it was targeting intermittent coverage across the United States and other key markets before the end of 2026. It said BlueBird satellites 14 through 16 were shipped to Cape Canaveral in September, pending confirmation of a launch date from SpaceX. It also expected to ship satellites 17 through 19 by the end of November, with launches planned for early in the first quarter of 2027. The company is targeting about 45 BlueBird satellites in orbit by mid-2027 and expects to deploy more than 100 satellites during 2027 and 2028 under launch agreements.
In another step to expand its business, Rakuten and AST announced on November 9 the formation of a joint venture called Rakuten AST to develop direct satellite communications in Japan. Rakuten said the project expects to receive government funding of up to 1,480 billion yen over about 3 years. That funding is tied to the Japanese project plan, while the company did not provide a projected revenue figure for it in the reported information. On commercial partnerships, the chief executive said the operator ecosystem could exceed 60 mobile network operators representing more than 3 billion subscribers. The stated annual revenue target remains $150 million to $200 million, with the company saying recent contract signings could allow it to exceed it.
Ahead of the results, AST SpaceMobile shares closed at $32.33 on November 6, a level from an earlier session that does not reflect the stock’s movement after the figures were released. Also on November 6, the company announced plans to build its Blacklift rocket to launch BlueBird satellites, targeting the start of launches on it in late 2028. This is part of the company’s announced plans to expand its satellite deployment options, while the intermittent coverage date it announced remains nearer, before the end of 2026. The company now places its target of reaching about 45 satellites in orbit at mid-2027. Execution indicators in the coming months remain tied to satellite shipments and confirmation of launch dates.