AST SpaceMobile Targets 45 Satellites in Orbit by Mid-2027 as Third-Quarter Revenue Jumps

Key Facts

AST SpaceMobile said it is targeting about 45 BlueBird satellites in orbit by mid-2027, as part of a plan to deploy more than 100 satellites during 2027 and 2028. The company announced the target on its third-quarter earnings call, as quarterly revenue rose to $42.321 million from $14.739 million a year earlier. Management said revenue growth came from the timing of deploying commercial gateways for customers and completing milestones under U.S. government contracts. The announcement puts the network buildout schedule alongside revenue growth, while the company continues to work on launching the satellites needed to expand coverage. Shares closed at $36.89 in the Nov. 9 session, up 14.1%, then gained 1.27% after hours to $37.36, according to Investing.com.

The company linked continuous service to the number of satellites it can operate in orbit. It said about 45 to 60 satellites could enable continuous coverage in the United States, Europe, Japan and other key markets, while it estimates about 90 satellites would be needed for additional global markets. That estimate puts the mid-2027 target of 45 satellites at the start of the range the company identified for continuous service in key markets. By contrast, it said its launch agreements cover the deployment of more than 100 satellites during 2027 and 2028. Reaching those numbers remains tied to the schedule for manufacturing and launching satellites, rather than the announcement of the target alone.

Quarterly revenue rose from the same period a year earlier, which the company attributed to the timing of commercial gateway deliveries and the completion of milestones under some government contracts. Results showed a net loss attributable to common shareholders of $132.380 million, compared with a loss of $122.874 million a year earlier. Adjusted operating expenses also reached $133.6 million, up $14.5 million from the second quarter. The company said $11 million of the quarterly increase was related to higher adjusted engineering services costs. These items present a mixed picture for the quarter: higher year-over-year revenue alongside a net loss and greater adjusted operating expenses.

AST kept its fiscal 2026 revenue forecast at $150 million to $200 million, saying fourth-quarter revenue opportunities would determine where the result falls within that range, with the possibility of exceeding it. As of September 30, cash, cash equivalents and restricted cash totaled about $3.2 billion. The company also reported about $1.3 billion in remaining performance obligations as of that date and expects to recognize about 10.1% of them as revenue during the following twelve months. Existing obligations provide an indication of future contracted revenue, while the pace of recognition depends on contract execution and timing. The 2026 forecast remains tied to fourth-quarter opportunities, according to management.

The company announced a contract with the U.S. Space Force for an advanced space-based sensing program, with revenue of nearly $100 million, and said it had received 16 U.S. government awards by that time. It also said the J-LEO project agreement with Japan’s Ministry of Internal Affairs and Communications and Rakuten includes about $1.0 billion in non-dilutive funding to manufacture and launch satellites. The company also reported an additional funding pipeline of about $1.2 billion under development from U.S. quasi-governmental sources for 2027 through several agencies. It described this amount as a funding pipeline under development, not confirmed funding. These contracts and agreements expand funding sources and revenue tied to government programs and partnerships, alongside its commercial activity.

On execution, the company said BlueBird satellites 14, 15 and 16 are awaiting confirmation of a launch date from SpaceX. It expects to ship satellites 17, 18 and 19 during November 2026 ahead of a launch it expects in early first-quarter 2027. It is also targeting a manufacturing rate of 6 ASIC satellites per month in December 2026. These steps build the launch and production sequence underpinning its plan to reach 45 satellites in orbit by mid-2027. Management said it is targeting activation of intermittent service nationwide in the United States and other key markets before the end of 2026, with continuous service still dependent on a larger number of operating satellites.