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AST SpaceMobile, Inc. (ASTS) Stock: Price, Forecast & Analyst Target

AST SpaceMobile, Inc. (ASTS) — MoonshotScore 17/100 (Weak band), calculated Oct 4, 2026. Price $58.45 (+2.47%), as of the Oct 2, 2026 trading session; market cap $23.8B. Expected results Nov 9, 2026.

Educational signal · not a buy or sell recommendation · How to read this

Market value / cash and short-term investments: 10.40× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Nov 9, 2026

$58.45 +$1.41 (+2.47%) Market Cap $23.8B

AST SpaceMobile, Inc. · ASTS · NASDAQ · Communication Services · Telecommunications Services

Research dated 2026-09-12: AST SpaceMobile is building satellite cellular broadband that connects directly with standard mobile phones across places terrestrial coverage does not reach. The case depends on whether a capital-intensive deployment can become a durable service business before cash consumption and financing obligations overtake commercial progress.

Price as of Oct 2, 2026

Key Statistics

17 of 100

MoonshotScore v2 · AST SpaceMobile (ASTS)

Weak
Business Quality Poor (9)
Financial Safety Strained (33)
Valuation Bubble (17)
Growth Durability Fading (28)
Momentum Slipping (25)
Why this rating? Method, drivers & history

Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.

  • Business Quality — Is this a genuinely good business?
  • Financial Safety — Could this blow up on me?
  • Valuation — Am I paying a fair price?
  • Growth Durability — Is the growth real and likely to last?
  • Momentum — Is the market already moving on this?
The ten-second read ·

Bottom-tier quality, a strained balance sheet and weak growth, and it’s expensive on top — broad distress, a capital-preservation call, not a value entry. Business Quality: Poor; Financial Safety: Strained; Valuation: Bubble; Growth Durability: Fading; Momentum: Slipping.

  • quarterly revenue $32M (Q2 FY2026, quarter ended Jun 2026)
  • EPS beat 0 of 8
  • Altman Z 3.90 · Piotroski F 3

Holding back: weak fundamentals, balance-sheet strain, a rich price, soft growth, weak price trend

What has the MoonshotScore done over time?

MoonshotScore snapshots recorded for ASTS (29 recorded, newest six shown)
RecordedScoreBand
17Weak
17Weak
17Weak
17Weak
17Weak
17Weak

The score was 17 in the stored Oct 3, 2026 snapshot and remains 17 in the current publication computed Oct 4, 2026 (0); the largest pillar moves were Growth Durability +3 and Momentum -2; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged.

Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.

Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →

Price & valuation

As of
MeasureValue
Latest provided price$58.45
Change on the day+2.47%
52-week range$49.31–$133.86
Market capitalisation$23.8B
Price / earnings (trailing)-402.85
Shares traded on the day15.07M
Beta (volatility vs the S&P 500)2.73

Price & events

Weekly closing price with reported quarters marked Weekly closing price from Sep 5, 2025 to Oct 2, 2026: low $39, high $116, latest $58. 4 reported quarters marked, 0 above and 4 below the recorded estimate. 1 other dated event marked. $116 $39 high $116 Nov 10, 2025 · Earnings results · reported below the recorded estimate · close $691Mar 2, 2026 · Earnings results · reported below the recorded estimate · close $792May 11, 2026 · Earnings results · reported below the recorded estimate · close $753Aug 10, 2026 · Earnings call · management outlook · no recorded estimate to compare · close $724Aug 10, 2026 · Earnings results · reported below the recorded estimate · close $725 Sep 5, 2025 Oct 2, 2026 · $58 $42Sep 5, 2025$45Sep 19, 2025$68Oct 3, 2025$83Oct 17, 2025$80Oct 31, 2025$61Nov 14, 2025$56Nov 28, 2025$77Dec 12, 2025$72Dec 26, 2025$98Jan 9, 2026$114Jan 23, 2026$102Feb 6, 2026$80Feb 20, 2026$89Mar 6, 2026$90Mar 20, 2026$93Apr 2, 2026$86Apr 17, 2026$71May 1, 2026$84May 15, 2026$113May 29, 2026$82Jun 12, 2026$71Jun 26, 2026$73Jul 10, 2026$56Jul 24, 2026$72Aug 7, 2026$69Aug 21, 2026$62Sep 4, 2026$59Sep 18, 2026$58Oct 2, 2026

Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.

Events behind the price

  • · Earnings results · below the recorded estimate
  • · Earnings results · below the recorded estimate
  • · Earnings results · below the recorded estimate
  • · Earnings call · management outlook
  • · Earnings results · below the recorded estimate

Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.

Upcoming events

As of

  1. Next results dueProvider estimate

Management outlook

  • Consistent with average quarterly CapEx spend during the first half of 2026, we expect our capital expenditures in Q3 of 2026 to be in the range of approximately $350 million to $425 million primarily driven by the timing of launch payments, which, as I previously explained and evidenced by the first half of this year do vary from quarter-to-quarter.

    Andrew Johnson · Statement from

  • As we reiterated in our Q1 2026 earnings call, we expect to generate full year 2026 revenue in the range of $150 million to $200 million.

    Andrew Johnson · Statement from

Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.

Read management statements

Council Score · weighted blend of 2 available disciplines

Council score for AST SpaceMobile (ASTS): Bearish Lean

27/100 · F

Some lenses disagree with the MoonshotScore. Compare their readings below; each uses a different method.

5-Factor Breakdown

Growth Durability Weak
Momentum Weak
Business Quality Negative
Financial Safety Weak
Valuation Negative

Legends Council

4 lenses, 4 current

AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built

Griffin-style lens (simulated) Ken Griffin Favorable read
Englander-style lens (simulated) Izzy Englander Unfavorable read
Klarman-style lens (simulated) Seth Klarman Unfavorable read
Moon AI lens (model) Unfavorable read

Read on: Oct 4, 2026

Munger's Mindset

Balance Sheet & Valuation · historical

Financial Health Neutral
Margin of Safety Fairly Valued
Profit Margin Weak
Revenue Growth Strong
Debt/Equity Negative
ROE Negative
Gross Margin Neutral

Read on: Sep 9, 2026 · older than the 27 hours refresh window; not a current reading

How to read these bars and different assessments

Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.

Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.

One of these lenses reads this company more favourably than the MoonshotScore does: Griffin-style lens. Each lens is a separate scoring function over its own inputs, so a disagreement is a difference of method rather than a correction — the page's answer stays the MoonshotScore above.

On Sep 9, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.

Readings on this page are from Oct 5, 2026, except a card that shows its own read date.

Watch the ASTS film — every key number, told as a short cinematic story

~2 min · open the film

1 · What is it?

What is AST SpaceMobile (ASTS), and what does it report?

Short answer · as of

AST SpaceMobile is not merely a satellite operator selling spacecraft capacity. SpaceMobile is designed to deliver cellular access directly to ordinary phones across remote land, oceans and air travel, while current reported revenue is still weighted toward products rather than services.

Research dated 2026-09-12.

AST SpaceMobile is not merely a satellite operator selling spacecraft capacity. SpaceMobile is designed to deliver cellular access directly to ordinary phones across remote land, oceans and air travel, while current reported revenue is still weighted toward products rather than services.

The financial statements therefore measure an infrastructure build and early commercialization phase more than a mature connectivity subscription base. Management identifies gateway sales and government contracts as the main near-term commercial contributors, helping explain why reported revenue can arrive unevenly even as the intended end service is mobile broadband.

Sources (as of 2026-09-12): Sector / industry (provider taxonomy); Business description; Revenue by segment; Annual revenue and net result (USD millions); Quarterly income statement (USD thousands); Management outlook — dated call excerpts

2 · Latest results

What do the latest results show for AST SpaceMobile (ASTS)?

Short answer · as of

The most recent reported quarter, Q2 FY2026, carried revenue of $32M.

Research dated 2026-09-12.

Revenue recovered from the preceding period and gross profit remained positive, but revenue still missed expectations. Operating and net losses widened, selling and administrative expense rose sharply, operating cash outflow deepened and capital spending accelerated.

Management says revenue should continue rising sequentially, with greater weight later in the reporting cycle and contributions from gateway sales and government contracts. That outlook describes the expected mechanism; the reported record still shows volatile revenue, repeated estimate misses and losses expanding faster than the latest revenue recovery.

Sources (as of 2026-09-12): Quarterly income statement (USD thousands); Operating cash flow by quarter (USD millions); Reported versus estimated, last 8 quarters; Management outlook — dated call excerpts

Where is operating spending going?

Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.

Latest quarter · revenue
$31.52M Jun 30, 2026
Latest quarter · R&D
$7.77M Jun 30, 2026
Latest quarter · SG&A
$63.90M Jun 30, 2026
Latest quarter · FMP standardized operating result
−$297.58M Jun 30, 2026
Where is operating spending going? — FMP standardized evidence
Period endRevenueR&DSG&AFMP standardized operating result
Jun 30, 2026$31.52M$7.77M$63.90M−$297.58M
Mar 31, 2026$14.73M$7.13M$43.66M−$149.41M
Dec 31, 2025$54.30M$9.06M$26.23M−$72.28M
Sep 30, 2025$14.74M$46.37M$29.82M−$79.68M

USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.

Did results meet expectations?

Reported earnings and revenue alongside the estimates recorded by the provider.

Latest report · revenue
$31.52M Aug 10, 2026
Latest report · revenue estimate
$34.53M Aug 10, 2026
Latest report · revenue vs estimate
Below estimate Aug 10, 2026
Latest report · EPS vs estimate
Below estimate Aug 10, 2026
Did results meet expectations? — reported evidence
Report dateRevenue · reportedRevenue · estimateEPS · reportedEPS · estimate
Aug 10, 2026$31.52M$34.53M−$0.7700−$0.3150
May 11, 2026$14.73M$39.01M−$0.6600−$0.2550
Mar 2, 2026$54.30M$41.77M−$0.2600−$0.1800
Nov 10, 2025$14.74M$22.04M−$0.4500−$0.3882

Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.

Quarterly income statement — 4 quarters
Revenue, net income and earnings per share by quarter
PeriodRevenueNet incomeEPS
Q2 FY2026$32M-$231M-$0.77 (diluted)
Q1 FY2026$15M-$191M-$0.66 (diluted)
Q4 FY2025$54M-$74M-$0.28 (diluted)
Q3 FY2025$15M-$123M-$0.45 (diluted)
3 · Financial strengths and risks

What are the financial strengths and risks for AST SpaceMobile (ASTS)?

Short answer

Cash and short-term investments were $2.29B at the Jun 30, 2026 balance-sheet date. Operating cash flow was −$97.15M for the quarter ended Jun 30, 2026, meaning operations used cash. These figures do not establish a cash runway.

Research dated 2026-09-12.

Liquidity is substantial relative to near-term obligations, but cash and short-term investments remain below total debt and the company is in a net debt position. The cash balance also declined sharply in the latest period as operating use and satellite-related capital spending absorbed funds.

The modeled runway provides meaningful deployment time, yet it is finite at the current spending pace. The specific financial risk is a prolonged gap between heavy network investment and dependable service revenue: product deliveries and government contracts may support revenue during construction, but they do not yet demonstrate that recurring connectivity economics can carry the cost base. A favorable distress screen does not cancel the weak quality screen or deeply negative profitability measures.

Sources (as of 2026-09-12): Cash, investments and debt; Cash and investment components; Cash and short-term investments over time (USD millions); Cash runway cross-check (ours); Cash against market value; Trailing twelve-month ratio set; Distress and quality screens; Operating cash flow by quarter (USD millions); Revenue by segment

Data-derived red flags

  • Negative return on equity (-32.3%) — the business is not currently generating profit on shareholder capital.
  • Inconsistent delivery — missed Wall Street EPS estimates in 8 of the last 8 reported quarters.
  • Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.

How much cash does the business generate or use?

Quarterly operating cash flow shows cash generated or used by operations.

Latest quarter · operating cash flow
−$97.15M Jun 30, 2026
Previous quarter · operating cash flow
−$48.06M Mar 31, 2026
How much cash does the business generate or use? — reported evidence
Period endOperating cash flowCapital expenditure (reported)
Jun 30, 2026−$97.15M−$597.62M
Mar 31, 2026−$48.06M−$261.60M
Dec 31, 2025$64.97M−$395.70M
Sep 30, 2025−$64.46M−$238.42M

Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.

USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.

4 · What to check next?

What should you watch next at AST SpaceMobile (ASTS)?

Short answer · as of

The next earnings report is expected on Nov 9, 2026.

Research dated 2026-09-12.

Watch whether reported revenue rises sequentially as management expects and whether gateway sales and government contracts produce enough late-cycle growth to meet the stated outlook. The important confirmation would be revenue growth accompanied by durable gross profit rather than another period in which operating losses widen despite higher sales.

Cash conversion matters just as much as the top line. Capital spending, operating cash use and the cash balance will show whether deployment is progressing within the existing liquidity cushion, while performance against the next revenue expectation will test whether commercial timing is becoming more predictable.

Sources (as of 2026-09-12): Management outlook — dated call excerpts; Next earnings report; Reported versus estimated, last 8 quarters; Quarterly income statement (USD thousands); Operating cash flow by quarter (USD millions); Cash and short-term investments over time (USD millions); Cash runway cross-check (ours)

What management is planning

Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.

  1. Consistent with average quarterly CapEx spend during the first half of 2026, we expect our capital expenditures in Q3 of 2026 to be in the range of approximately $350 million to $425 million primarily driven by the timing of launch payments, which, as I previously explained and evidenced by the first half of this year do vary from quarter-to-quarter.

    Andrew Johnson ·

  2. As we reiterated in our Q1 2026 earnings call, we expect to generate full year 2026 revenue in the range of $150 million to $200 million.

    Andrew Johnson ·

  3. As I've previously noted, we expect revenue to build sequentially each quarter during 2026 with contributions from both commercial revenues, primarily gateway sales revenue and U.S. government contracts.

    Andrew Johnson ·

  4. As a way to be helpful and for the avoidance of doubt, we expect revenue in each quarter to continue to grow sequentially but will likely be weighted towards the fourth quarter.

    Andrew Johnson ·

5 · Peer comparison

How does AST SpaceMobile compare with its peers?

Short answer

AST SpaceMobile's score ranks 13th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.

Research dated 2026-09-12.

AST SpaceMobile differs from terrestrial telecommunications businesses because its coverage layer is space-based and designed to reach standard mobile phones where conventional networks are unavailable. The customer experience is cellular access on an existing type of device, while the economic burden currently resembles a satellite infrastructure build.

Its reporting also differs from that of a mature connectivity provider. Product revenue remains larger than service revenue, management points to gateway sales and government contracts as current growth sources, and margins and cash flow still reflect deployment rather than a scaled access network.

Sources (as of 2026-09-12): Sector / industry (provider taxonomy); Business description; Revenue by segment; Management outlook — dated call excerpts; Annual revenue and net result (USD millions); Trailing twelve-month ratio set; Operating cash flow by quarter (USD millions)

Peer set — price, market value and MoonshotScore
CompanyPriceMarket valueScore
Telkom Indonesia Persero Tbk PT ADR (TLK) Same industry, near in market value$12.55 Oct 2, 2026$12.4B78 5-pillar Oct 4, 2026
Chunghwa Telecom Co., Ltd. (CHT) Same industry, near in market value$46.16 Oct 2, 2026$35.8B77 5-pillar Oct 4, 2026
Telefônica Brasil S.A. (VIV) Same industry, near in market value$11.54 Oct 2, 2026$18.5B72 5-pillar Oct 4, 2026
CDW Corporation (CDW) Named competitor$133.29 Oct 2, 2026$17.0B63 5-pillar Oct 4, 2026
Rogers Communications Inc. (RCI) Same industry, near in market value$30.83 Oct 2, 2026$16.7B62 5-pillar Oct 4, 2026
BCE Inc. (BCE) Same industry, near in market value$19.73 Oct 2, 2026$18.4B61 5-pillar Oct 4, 2026
STMicroelectronics N.V. (STM) Named competitor$57.26 Oct 2, 2026$51.1B60 5-pillar Oct 4, 2026
ON Semiconductor Corporation (ON) Named competitor$84.89 Oct 2, 2026$33.0B58 5-pillar Oct 4, 2026
Millicom International Cellular S.A. (TIGO) Same industry, near in market value$88.32 Oct 2, 2026$14.8B58 5-pillar Oct 4, 2026
SK Telecom Co., Ltd. (SKM) Same industry, near in market value$36.79 Oct 2, 2026$14.1B58 5-pillar Oct 4, 2026
Charter Communications, Inc. (CHTR) Same industry, near in market value$109.29 Oct 2, 2026$14.7B48 5-pillar Oct 4, 2026
Coherent, Inc. (COHR) Named competitor$337.04 Oct 2, 2026$65.9B46 5-pillar Oct 4, 2026
AST SpaceMobile (ASTS) — this page$58.45$23.8B17

Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.

Screen more Communication Services stocks

The records behind this page

Analyst targets & estimates

What analysts have on file

Price target, low to high
$65.00 – $108.00
Consensus target
$91.25
Median target
$92.50

Consensus record · Captured .

Measured against a quoted price of $58.45 (as of Oct 2, 2026).

Insider activity

Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Sep 28, 2026

Transactions
45
Identified insiders
14
Purchases
3
Sales
8
Other transactions
34

Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.

Who holds the shares?

Institutional ownership reported through 13F filings.

Institutional ownership
59.9% Period end Jun 30, 2026
Previous quarter · ownership
64.2% Prior to period end Jun 30, 2026
Reporting holders
856 Period end Jun 30, 2026
Previous quarter · holders
772 Prior to period end Jun 30, 2026
Who holds the shares? — reported evidence
Holders in provider snapshotShares
Susquehanna International Group, Llp15,708,100
Rakuten Group, INC.15,510,078
Blackrock, INC.15,273,481
Vanguard Portfolio Management LLC13,330,558
Vanguard Capital Management LLC12,515,363

Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.

What has been published about AST SpaceMobile (ASTS)?

Read these with our analysis →

What Investors Ask About AST SpaceMobile (ASTS) — Communication Services

Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 2 questions are answered from this page's own dated data, not from the research.

Does SpaceMobile require a specialized satellite handset?

SpaceMobile is designed to connect directly with standard mobile phones. That device compatibility is central to the service proposition for places beyond terrestrial mobile coverage.

Sources (as of 2026-09-12): Business description

Why is AST SpaceMobile revenue so uneven?

Current revenue remains influenced by product deliveries, especially gateway sales, and government contracts, while service revenue is still the smaller reported category. That mix can produce irregular recognition across reporting periods.

Sources (as of 2026-09-12): Revenue by segment; Quarterly income statement (USD thousands); Management outlook — dated call excerpts; Reported versus estimated, last 8 quarters

Can AST SpaceMobile fund its satellite buildout from operations?

Operations are consuming cash while capital spending remains heavy, so internal cash generation is not currently funding the buildout. Existing liquidity provides room, but debt exceeds cash and the modeled runway remains finite.

Sources (as of 2026-09-12): Operating cash flow by quarter (USD millions); Cash, investments and debt; Cash and short-term investments over time (USD millions); Cash runway cross-check (ours); Cash against market value

What would validate the SpaceMobile commercial ramp?

Sequential revenue growth from gateway sales and government contracts would support management's near-term account. Stronger evidence would pair that growth with sustained gross profit, narrower operating losses and less pressure on cash.

Sources (as of 2026-09-12): Management outlook — dated call excerpts; Quarterly income statement (USD thousands); Operating cash flow by quarter (USD millions); Reported versus estimated, last 8 quarters; Next earnings report

What is the ASTS stock price today?

The last price recorded on this page for AST SpaceMobile, Inc. (ASTS) is $58.45, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.

What is the ASTS price target?

The analyst consensus price target for AST SpaceMobile, Inc. (ASTS) is $91.25 (range $65.00 to $108.00, median $92.50), per FMP data captured Oct 4, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.

Sources (as of 2026-09-12): Business description; Revenue by segment; Operating cash flow by quarter (USD millions); Cash, investments and debt; Cash runway cross-check (ours)

Sources — records for every figure on this page (84 figures)

The 84 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.

"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.

OFFICIAL — 2 facts from SEC filings and earnings calls

OFFICIAL facts used on this page
Fact IDFactValue as shownAs ofTierSource
prod.outlookManagement outlook — call excerptsAndrew Johnson (Aug 10, 2026): Consistent with average quarterly CapEx spend during the first half of 2026, we expect our capital expenditures in Q3 of 2026 to be in the range of approximately $350 million to $425 million primarily driven by the timing of launch payments, which, as I previously explained and evidenced by the first half of this year do vary from quarter-to-quarter. Andrew Johnson (Aug 10, 2026): As we reiterated in our Q1 2026 earnings call, we expect to generate full year 2026 revenue in the range of $150 million to $200 million. Andrew Johnson (Aug 10, 2026): As I've previously noted, we expect revenue to build sequentially each quarter during 2026 with contributions from both commercial revenues, primarily gateway sales revenue and U.S. government contracts. Andrew Johnson (Aug 10, 2026): As a way to be helpful and for the avoidance of doubt, we expect revenue in each quarter to continue to grow sequentially but will likely be weighted towards the fourth quarter.OFFICIALCompany earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording.
id.hqSEC filing business addressMidland Intl. AIR & Space Port, 2901 Enterprise Lane, Midland, TX, 79706OFFICIALSEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "Midland Intl. Air & Space Port, Midland, TX, 79706, US".

FMP — 74 facts from Financial Modeling Prep endpoint families

FMP facts used on this page
Fact IDFactValue as shownAs ofTierSource
earn.nextNext earnings dateNov 9, 2026FMPFinancial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it.
px.lastLatest provided price$58.45FMPFinancial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T20:54:50.359Z.
px.changeChange on the day+2.47%FMPFinancial Modeling Prep (FMP) · quote
px.mcapMarket capitalisation$23.8BFMPFinancial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:01.000Z. Captured from FMP at 2026-10-04T20:54:49.376Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares.
px.change_absChange on the day, in dollars+$1.41FMPFinancial Modeling Prep (FMP) · quote
fin.q_revenueRevenue, Q2 FY2026$32MFMPFinancial Modeling Prep (FMP) · income statement (quarterly)
px.range5252-week range$49.31–$133.86FMPFinancial Modeling Prep (FMP) quote
px.pePrice / earnings (trailing)-402.85FMPFinancial Modeling Prep (FMP) · quote
px.volumeShares traded on the day15.07MFMPFinancial Modeling Prep (FMP) · quote
px.betaBeta2.73FMPFinancial Modeling Prep (FMP) company profile
id.ceoChief executiveAbel AvellanFMPFinancial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it.
id.employeesEmployees1,126FMPFinancial Modeling Prep (FMP) employee count, from the company's filing
fin.annualRevenue and net result by fiscal year5 fiscal years, FY2021 through FY2025: FY2021 revenue $12.41M, net result −$30.55M; FY2022 revenue $13.83M, net result −$31.64M; FY2023 revenue $0.00, net result −$87.56M; FY2024 revenue $4.42M, net result −$300.08M; FY2025 revenue $70.92M, net result −$341.94MFMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
fin.rev_mixReported revenue segmentsProduct $44.39M · Service $26.53MFMPFinancial Modeling Prep (FMP) revenue segmentation, from the company's 10-K
fin.gross_marginGross margin (trailing twelve months)-14.0%FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.q_table.depth.2026-06-30.revenue_kRevenue — period end 2026-06-30$31.52MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.rd_kR&D — period end 2026-06-30$7.77MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.sga_kSG&A — period end 2026-06-30$63.90MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.operating_result_kFMP standardized operating result — period end 2026-06-30−$297.58MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.revenue_kRevenue — period end 2026-03-31$14.73MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.rd_kR&D — period end 2026-03-31$7.13MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.sga_kSG&A — period end 2026-03-31$43.66MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.operating_result_kFMP standardized operating result — period end 2026-03-31−$149.41MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.revenue_kRevenue — period end 2025-12-31$54.30MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.rd_kR&D — period end 2025-12-31$9.06MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.sga_kSG&A — period end 2025-12-31$26.23MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.operating_result_kFMP standardized operating result — period end 2025-12-31−$72.28MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.revenue_kRevenue — period end 2025-09-30$14.74MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.rd_kR&D — period end 2025-09-30$46.37MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.sga_kSG&A — period end 2025-09-30$29.82MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.operating_result_kFMP standardized operating result — period end 2025-09-30−$79.68MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
earn.history.depth.2026-08-10.revenue_actualRevenue · reported — report date 2026-08-10$31.52MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-10.revenue_estimatedRevenue · estimate — report date 2026-08-10$34.53MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-10.eps_actualEPS · reported — report date 2026-08-10−$0.7700Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-10.eps_estimatedEPS · estimate — report date 2026-08-10−$0.3150Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-11.revenue_actualRevenue · reported — report date 2026-05-11$14.73MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-11.revenue_estimatedRevenue · estimate — report date 2026-05-11$39.01MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-11.eps_actualEPS · reported — report date 2026-05-11−$0.6600Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-11.eps_estimatedEPS · estimate — report date 2026-05-11−$0.2550Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-03-02.revenue_actualRevenue · reported — report date 2026-03-02$54.30MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-03-02.revenue_estimatedRevenue · estimate — report date 2026-03-02$41.77MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-03-02.eps_actualEPS · reported — report date 2026-03-02−$0.2600Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-03-02.eps_estimatedEPS · estimate — report date 2026-03-02−$0.1800Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-10.revenue_actualRevenue · reported — report date 2025-11-10$14.74MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-10.revenue_estimatedRevenue · estimate — report date 2025-11-10$22.04MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-10.eps_actualEPS · reported — report date 2025-11-10−$0.4500Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-10.eps_estimatedEPS · estimate — report date 2025-11-10−$0.3882Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
fin.q_tableQuarterly income statement4 quarters through Q2 FY2026FMPFinancial Modeling Prep (FMP) · income statement (quarterly), as filed
fin.cash_investmentsCash and short-term investments$2.29BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review.
fin.opcf_latestLatest-quarter operating cash flow−$97.15MFMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate.
fin.long_term_investmentsLong-term investments (classification unverified)$0.00FMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.total_debtTotal debt$2.99BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.price_to_bookPrice to book value9.23×FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.opcf.depth.2026-06-30.operating_cash_flow_mOperating cash flow — period end 2026-06-30−$97.15MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.operating_cash_flow_mOperating cash flow — period end 2026-03-31−$48.06MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-06-30.capex_mCapital expenditure (reported) — period end 2026-06-30−$597.62MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.capex_mCapital expenditure (reported) — period end 2026-03-31−$261.60MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.operating_cash_flow_mOperating cash flow — period end 2025-12-31$64.97MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.capex_mCapital expenditure (reported) — period end 2025-12-31−$395.70MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.operating_cash_flow_mOperating cash flow — period end 2025-09-30−$64.46MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.capex_mCapital expenditure (reported) — period end 2025-09-30−$238.42MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
earn.pt_rangeAnalyst price target, low to high$65.00 – $108.00FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
earn.pt_consensusConsensus analyst price target$91.25FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
earn.pt_medianMedian analyst price target$92.50FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
own.insidersInsider transactions via FMP45 transactions · 3 purchases, 8 sales, 34 other transactions · 14 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Sep 28, 2026FMPFinancial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
own.institutions.depth.ownership_pctInstitutional ownership59.9%FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026
own.institutions.depth.ownership_pct_previous_quarterPrevious quarter · ownership64.2%FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026
own.institutions.depth.holdersReporting holders856FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026
own.institutions.depth.holders_previous_quarterPrevious quarter · holders772FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026
own.top_holders.depth.holder_0.sharesSusquehanna International Group, Llp — shares in provider snapshot15,708,100FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_1.sharesRakuten Group, INC. — shares in provider snapshot15,510,078FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_2.sharesBlackrock, INC. — shares in provider snapshot15,273,481FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_3.sharesVanguard Portfolio Management LLC — shares in provider snapshot13,330,558FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_4.sharesVanguard Capital Management LLC — shares in provider snapshot12,515,363FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.

UNRECORDED — 3 facts from stored observations whose source was not recorded

UNRECORDED facts used on this page
Fact IDFactValue as shownAs ofTierSource
earn.historyReported versus estimated, recent quartersEPS beat 0 of 8UNRECORDEDStored earnings-history observation — Captured 2026-09-21 · Expired observation
fin.scoresDistress and quality screensAltman Z 3.90 · Piotroski F 3UNRECORDEDStored financial-scores observation — Captured 2026-10-04
fin.ratiosReturn and yield ratios (trailing twelve months)ROE -32.3% · ROA -8.1% · current ratio 18.47 · earnings yield -1.8% · free-cash-flow yield -3.5%—UNRECORDEDStored key metrics — Date unknown

COMPUTED — 3 facts from our arithmetic, formula restated

COMPUTED facts used on this page
Fact IDFactValue as shownAs ofTierSource
fin.mcap_to_cashMarket value per dollar of cash and short-term investments10.40×—COMPUTEDComputed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $2.29B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio.
earn.history.depth.2026-08-10.revenue_actual.comparisonLatest report · revenue vs estimateBelow estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($31.52M) with the recorded estimate ($34.53M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.
earn.history.depth.2026-08-10.eps_actual.comparisonLatest report · EPS vs estimateBelow estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS (−$0.7700) with the recorded estimate (−$0.3150) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.

OURS — 2 facts from Stock Expert AI's own score and rank

OURS facts used on this page
Fact IDFactValue as shownAs ofTierSource
ours.moonshotMoonshotScore v217 of 100 · Weak · pillars 9 / 33 / 17 / 28 / 25OURSStock Expert AI MoonshotScore v2 engine
ours.moonshot_changeMoonshotScore movement17 (stored snapshot Oct 3, 2026) → 17 (current publication computed Oct 4, 2026) (0)OURSStock Expert AI current score publication and immutable score snapshots

Fact-family notes

  1. Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs: fin.q_table.depth.2026-06-30.revenue_k, fin.q_table.depth.2026-06-30.rd_k, fin.q_table.depth.2026-06-30.sga_k, fin.q_table.depth.2026-06-30.operating_result_k, fin.q_table.depth.2026-03-31.revenue_k, fin.q_table.depth.2026-03-31.rd_k, fin.q_table.depth.2026-03-31.sga_k, fin.q_table.depth.2026-03-31.operating_result_k, fin.q_table.depth.2025-12-31.revenue_k, fin.q_table.depth.2025-12-31.rd_k, fin.q_table.depth.2025-12-31.sga_k, fin.q_table.depth.2025-12-31.operating_result_k, fin.q_table.depth.2025-09-30.revenue_k, fin.q_table.depth.2025-09-30.rd_k, fin.q_table.depth.2025-09-30.sga_k, fin.q_table.depth.2025-09-30.operating_result_k.
  2. Earnings-history note. Source series as of 2026-08-10. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs: earn.history.depth.2026-08-10.revenue_actual, earn.history.depth.2026-08-10.revenue_estimated, earn.history.depth.2026-08-10.revenue_actual.comparison, earn.history.depth.2026-08-10.eps_actual.comparison, earn.history.depth.2026-08-10.eps_actual, earn.history.depth.2026-08-10.eps_estimated, earn.history.depth.2026-05-11.revenue_actual, earn.history.depth.2026-05-11.revenue_estimated, earn.history.depth.2026-05-11.eps_actual, earn.history.depth.2026-05-11.eps_estimated, earn.history.depth.2026-03-02.revenue_actual, earn.history.depth.2026-03-02.revenue_estimated, earn.history.depth.2026-03-02.eps_actual, earn.history.depth.2026-03-02.eps_estimated, earn.history.depth.2025-11-10.revenue_actual, earn.history.depth.2025-11-10.revenue_estimated, earn.history.depth.2025-11-10.eps_actual, earn.history.depth.2025-11-10.eps_estimated.
  3. Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs: fin.opcf.depth.2026-06-30.operating_cash_flow_m, fin.opcf.depth.2026-03-31.operating_cash_flow_m, fin.opcf.depth.2026-06-30.capex_m, fin.opcf.depth.2026-03-31.capex_m, fin.opcf.depth.2025-12-31.operating_cash_flow_m, fin.opcf.depth.2025-12-31.capex_m, fin.opcf.depth.2025-09-30.operating_cash_flow_m, fin.opcf.depth.2025-09-30.capex_m.
Published
Research standards
Methodology · Editorial policy · Corrections

Sources used for research written 2026-09-12

Historical evidence preserved with this analysis. Current figures are listed separately above.

EvidenceCaptured valueSource dateSource typeSource
Business description
AST SpaceMobile, Inc. establishes and operates a satellite-based cellular broadband network designed to connect directly with standard mobile phones. Through its SpaceMobile service, it delivers mobile internet access to individuals in remote or unserved locations that lack traditional terrestrial mobile coverage, whether on land, across oceans, or during air travel. The company is situated in Midland, Texas.
2026-09-12FMPFinancial Modeling Prep (FMP) company profile
Revenue by segment
Product: $44.39M; Service: $26.53M
2025-12-31FMPFinancial Modeling Prep (FMP) revenue segmentation, from the company's 10-K
Operating cash flow by quarter (USD millions)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — Capital expenditure: -$597.62M, Operating cash flow: -$97.15M
  • Quarter ended 2026-03-31 — Capital expenditure: -$261.60M, Operating cash flow: -$48.06M
  • Quarter ended 2025-12-31 — Capital expenditure: -$395.70M, Operating cash flow: $64.97M
  • Quarter ended 2025-09-30 — Capital expenditure: -$238.42M, Operating cash flow: -$64.46M
  • Quarter ended 2025-06-30 — Capital expenditure: -$310.17M, Operating cash flow: -$43.48M
  • Quarter ended 2025-03-31 — Capital expenditure: -$120.46M, Operating cash flow: -$28.55M
  • Quarter ended 2024-12-31 — Capital expenditure: -$82.03M, Operating cash flow: -$28.44M
  • Quarter ended 2024-09-30 — Capital expenditure: -$30.32M, Operating cash flow: -$33.43M
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements
Cash, investments and debt
Total debt: $2.99B; Liquidity basis: cash and short-term investments; Total liabilities: $3.46B; Cash and short-term investments: $2.29B; Cash and investments: $2.29B; Long-term investments: $0; Long-term investments classification: unclassified

Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.

2026-06-30FMPFinancial Modeling Prep (FMP), from the company's balance sheet
Cash runway cross-check (ours)
Years: 2; Method: cash and short-term investments of $2288.3M at 2026-06-30 divided by the annualized rate at which operations and capital spending used cash ($1157.5M per year); Reaches: 2028-06; Cash basis: cash and short-term investments; Cash: $2.29B; Annualized cash use: $1.16B

Rate taken from operating cash flow less capital expenditure over the 8 most recent reported quarters, annualized.; Measured from operations, not from the change in the cash balance — a company that raised money during the window would otherwise appear to be burning less than it is.; Assumes that rate continues unchanged: it ignores announced cost reductions, financing already arranged and any change in spending.; Assumes the reported cash and short-term investments are realizable for funding operations; restrictions and timing of access are not established by these provider fields. Long-term investments are excluded.; It is a cross-check, not a forecast, and the company's own statement about its runway outranks it.

2026-06-30COMPUTEDComputed from reported cash flow; assumptions stated
Sector / industry (provider taxonomy)
Communication Services / Telecommunications Services

The company's SEC filings classify it under SIC 4899 — Communications Services, NEC.

2026-09-12FMPFinancial Modeling Prep (FMP) company profile
Annual revenue and net result (USD millions)
Captured record · 5 entries
  • FY2025 — R&D: $28.12M, Revenue: $70.92M, Period end: 2025-12-31, Net result: -$341.94M
  • FY2024 — R&D: $122.27M, Revenue: $4.42M, Period end: 2024-12-31, Net result: -$300.08M
  • FY2023 — R&D: $126.30M, Revenue: $0, Period end: 2023-12-31, Net result: -$87.56M
  • FY2022 — R&D: $99.83M, Revenue: $13.83M, Period end: 2022-12-31, Net result: -$31.64M
  • FY2021 — R&D: $53.04M, Revenue: $12.41M, Period end: 2021-12-31, Net result: -$30.55M
2025-12-31FMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
Quarterly income statement (USD thousands)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — EPS: -$0.77 per share, R&D: $7.77M, SG&A: $63.90M, EPS basic: -$0.77 per share, EPS basis: diluted, Revenue: $31.52M, EPS diluted: -$0.77 per share, Net result: -$230.91M, Gross profit: $7.95M, Operating result: -$297.58M
  • Quarter ended 2026-03-31 — EPS: -$0.66 per share, R&D: $7.13M, SG&A: $43.66M, EPS basic: -$0.66 per share, EPS basis: diluted, Revenue: $14.73M, EPS diluted: -$0.66 per share, Net result: -$191.01M, Gross profit: $3.67M, Operating result: -$149.41M
  • Quarter ended 2025-12-31 — EPS: -$0.28 per share, R&D: $9.06M, SG&A: $26.23M, EPS basic: -$0.28 per share, EPS basis: diluted, Revenue: $54.30M, EPS diluted: -$0.28 per share, Net result: -$73.97M, Gross profit: -$36.99M, Operating result: -$72.28M
  • Quarter ended 2025-09-30 — EPS: -$0.45 per share, R&D: $46.37M, SG&A: $29.82M, EPS basic: -$0.45 per share, EPS basis: diluted, Revenue: $14.74M, EPS diluted: -$0.45 per share, Net result: -$122.87M, Gross profit: $9.23M, Operating result: -$79.68M
  • Quarter ended 2025-06-30 — EPS: -$0.41 per share, R&D: $34.99M, SG&A: $27.24M, EPS basic: -$0.41 per share, EPS basis: diluted, Revenue: $1.16M, EPS diluted: -$0.41 per share, Net result: -$99.39M, Gross profit: $1.16M, Operating result: -$72.80M
  • Quarter ended 2025-03-31 — EPS: -$0.2 per share, R&D: $7.13M, SG&A: $18.38M, EPS basic: -$0.2 per share, EPS basis: diluted, Revenue: $718,000, EPS diluted: -$0.2 per share, Net result: -$45.71M, Gross profit: -$26.49M, Operating result: -$62.96M
  • Quarter ended 2024-12-31 — EPS: -$0.18 per share, R&D: $36.29M, SG&A: $15.89M, EPS basic: -$0.18 per share, EPS basis: diluted, Revenue: $1.92M, EPS diluted: -$0.18 per share, Net result: -$35.86M, Gross profit: $1.92M, Operating result: -$50.26M
  • Quarter ended 2024-09-30 — EPS: -$1.1 per share, R&D: $36.55M, SG&A: $15.55M, EPS basic: -$1.1 per share, EPS basis: diluted, Revenue: $1.10M, EPS diluted: -$1.1 per share, Net result: -$171.95M, Gross profit: $1.10M, Operating result: -$65.55M
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements
Management outlook — dated call excerpts
Captured record · 4 entries
  • Call of 2026-08-10 — Quote: Consistent with average quarterly CapEx spend during the first half of 2026, we expect our capital expenditures in Q3 of 2026 to be in the range of approximately $350 million to $425 million primarily driven by the timing of launch payments, which, as I previously explained and evidenced by the first half of this year do vary from quarter-to-quarter., Speaker: Andrew Johnson
  • Call of 2026-08-10 — Quote: As we reiterated in our Q1 2026 earnings call, we expect to generate full year 2026 revenue in the range of $150 million to $200 million., Speaker: Andrew Johnson
  • Call of 2026-08-10 — Quote: As I've previously noted, we expect revenue to build sequentially each quarter during 2026 with contributions from both commercial revenues, primarily gateway sales revenue and U.S. government contracts., Speaker: Andrew Johnson
  • Call of 2026-08-10 — Quote: As a way to be helpful and for the avoidance of doubt, we expect revenue in each quarter to continue to grow sequentially but will likely be weighted towards the fourth quarter., Speaker: Andrew Johnson

Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording.

2026-08-10OFFICIALCompany earnings call, transcript via Financial Modeling Prep (FMP)
Reported versus estimated, last 8 quarters
Captured record · 8 entries
  • Reported 2026-08-10 — EPS actual: -$0.77 per share, EPS estimated: -$0.315 per share, Revenue actual: $31.52M, Revenue estimated: $34.53M
  • Reported 2026-05-11 — EPS actual: -$0.66 per share, EPS estimated: -$0.255 per share, Revenue actual: $14.73M, Revenue estimated: $39.01M
  • Reported 2026-03-02 — EPS actual: -$0.26 per share, EPS estimated: -$0.18 per share, Revenue actual: $54.30M, Revenue estimated: $41.77M
  • Reported 2025-11-10 — EPS actual: -$0.45 per share, EPS estimated: -$0.38824 per share, Revenue actual: $14.74M, Revenue estimated: $22.04M
  • Reported 2025-08-11 — EPS actual: -$0.41 per share, EPS estimated: -$0.19167 per share, Revenue actual: $1.16M, Revenue estimated: $6.68M
  • Reported 2025-05-12 — EPS actual: -$0.2 per share, EPS estimated: -$0.19395 per share, Revenue actual: $718,000, Revenue estimated: $4.04M
  • Reported 2025-03-03 — EPS actual: -$0.18 per share, EPS estimated: -$0.14 per share, Revenue actual: $1.92M, Revenue estimated: $2.38M
  • Reported 2024-11-14 — EPS actual: -$1.1 per share, EPS estimated: -$0.20256 per share, Revenue actual: $1.10M, Revenue estimated: $1.80M
2026-08-10FMPFinancial Modeling Prep (FMP) earnings
Cash and investment components
Total basis: cash short and long-term investments; Total: $2.29B; Cash and short-term investments: $2.29B; Long-term investments: $0; Long-term investments classification: unclassified

Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures.

2026-06-30COMPUTEDComputed from the balance sheet
Cash and short-term investments over time (USD millions)
Captured record · 8 entries
  • 2026-06-30 — Amount: $2.29B, Cash basis: cash and short-term investments
  • 2026-03-31 — Amount: $3.03B, Cash basis: cash and short-term investments
  • 2025-12-31 — Amount: $2.34B, Cash basis: cash and short-term investments
  • 2025-09-30 — Amount: $1.20B, Cash basis: cash and short-term investments
  • 2025-06-30 — Amount: $923.60M, Cash basis: cash and short-term investments
  • 2025-03-31 — Amount: $873.80M, Cash basis: cash and short-term investments
  • 2024-12-31 — Amount: $565.00M, Cash basis: cash and short-term investments
  • 2024-09-30 — Amount: $516.40M, Cash basis: cash and short-term investments
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's quarterly balance sheets
Cash against market value
As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$705.50M; Total debt: $2.99B; Cash and investments: $2.29B

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them.

2026-06-30COMPUTEDComputed from the balance sheet and the latest market capitalization
Trailing twelve-month ratio set
Quick ratio: 12.9; Current ratio: 13.05; Debt to equity: 1.58; Net margin: -536.7%; Gross margin: -14%; Operating margin: -519.5%; Return on assets: -10.6%; Return on equity: -35.1%

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero.

2026-09-12FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm
Distress and quality screens
Altman Z-score: 4; Piotroski F-score: 3

Altman Z below 1.8 is the conventional distress zone. The screen is built for manufacturers and industrials; for banks, insurers and property companies it is not a meaningful reading.

2026-09-12FMPFinancial Modeling Prep (FMP) financial scores
Next earnings report
Date: 2026-11-09; EPS estimate: -$0.40416 per share; Revenue estimate: $47.94M

The date is our provider's estimate until the company confirms it.

2026-09-12FMPFinancial Modeling Prep (FMP) earnings calendar
Data Sources & Methodology
Figures come from Financial Modeling Prep (FMP). If FMP has no figure for a ticker, a price or fundamental may come from a Yahoo Finance fallback, or a price from an Alpaca fallback. SEC EDGAR is used only for filing links and company identity details (legal name, address), never for figures. AI analysis by Stock Expert AI proprietary algorithms. Technical indicators via industry-standard calculations. Last updated: .
Data Provenance
Sources: Financial Modeling Prep (FMP) — Primary · Yahoo Finance — Fallback · Alpaca — Tertiary
Last fetched:
Cache TTL: Quote 5min · Profile 7d · Financials 7d · Insider 48h
How we use AI: Numbers are pulled directly from FMP & Yahoo Finance — our AI writes the analysis, it never edits the figures.
Data provided as-is for educational purposes. Not financial advice. Methodology

Data provided for informational purposes only.