AST SpaceMobile (NASDAQ:ASTS) Announces Quarterly Earnings Results, Misses Estimates By $0.45 EPS

AST SpaceMobile (NASDAQ:ASTS) announced its quarterly earnings results on Monday. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.45), FiscalAI reports. AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 23.32%. The company had revenue of $31.52 million during the quarter, compared to analyst estimates of $34.53 million. During the same period in the previous year, the firm posted ($0.41) earnings per share.

Here are the key takeaways from AST SpaceMobile’s conference call:

• Q2 revenue more than doubled sequentially to $31.5 million, driven by commercial gateway deliveries and U.S. government milestones. Management reiterated full-year 2026 revenue guidance of $150 million–$200 million, with revenue expected to increase each quarter and be weighted toward Q4.
• The company reported approximately $1.3 billion in revenue backlog and more than $3.7 billion of pro forma cash, equivalents, and restricted cash. It also announced three U.S. government contract awards with more than $100 million of funded value expected in 2026–2027 and said government revenue could become a recurring multibillion-dollar annual opportunity beginning in 2027.
• Commercial deployment continued to advance, with more than 60 mobile network operator partners representing over 3 billion subscribers, approximately 50 gateways in various stages across 20 markets, and a target of roughly 45 BlueBird satellites in orbit by early 2027. Management is targeting consumer beta availability later in 2026 and commercial service with approximately 45 satellites.
• AST SpaceMobile received a preliminary selection for Japan’s J-LEO project, which could provide up to approximately $1 billion in non-dilutive, non-debt government capital, while expanding opportunities in radar, secure government communications, emergency response, IoT, and AI edge computing.
• Growth requires substantial spending: Q2 adjusted operating expenses excluding cost of revenues rose to $95.9 million, capital expenditures reached approximately $610 million, and Q3 adjusted operating expenses are expected to increase to $105 million–$115 million. The 2026 revenue plan remains dependent on successful satellite launches, gateway deliveries, and contract milestones.

AST SpaceMobile Price Performance

ASTS traded up $1.43 on Wednesday, hitting $73.06. 4,582,073 shares of the company’s stock were exchanged, compared to its average volume of 18,019,398. AST SpaceMobile has a fifty-two week low of $36.08 and a fifty-two week high of $133.86. The stock has a market cap of $28.36 billion, a price-to-earnings ratio of -34.06 and a beta of 2.75. The firm has a 50-day moving average price of $74.29 and a 200-day moving average price of $85.47. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11.

Analyst Ratings Changes

ASTS has been the topic of a number of analyst reports. Roth Capital restated a “buy” rating and set a $108.00 target price on shares of AST SpaceMobile in a research report on Tuesday, May 12th. B. Riley Financial upgraded AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Friday, July 17th. New Street Research set a $106.00 price objective on AST SpaceMobile in a report on Friday, May 29th. Piper Sandler cut their price objective on AST SpaceMobile from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $85.98.

Trending Headlines about AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: AST SpaceMobile said direct-to-cell service in the U.K. with Vodafone is “imminent” and that carrier partners want the service deployed quickly. The potential commercial rollout strengthens the near-term revenue case. ASTS Stock Rises Overnight: AST SpaceMobile Clears The Runway For Imminent UK Direct-To-Cell Service With Vodafone
• Positive Sentiment: The company is targeting approximately 45 BlueBird satellites in orbit by early 2027, supporting the planned beta rollout, broader spectrum coverage and government applications. SpaceX has launched six AST SpaceMobile satellites this year, bringing the in-orbit total to 13. ASTS Q2 Earnings Call Puts Beta Rollout and Government Growth in Focus
• Positive Sentiment: AST SpaceMobile reaffirmed its 2026 revenue outlook of $150 million to $200 million. Its backlog was reported at roughly $1.2 billion to $1.3 billion, including government opportunities and more than 60 mobile-network-operator partnerships, providing investors with visibility into future growth.
• Positive Sentiment: Cantor Fitzgerald raised its ASTS price target to $90 from $80 while maintaining an overweight rating. Piper Sandler retained an overweight rating despite trimming its target to $98 from $100, signaling continued analyst confidence in the long-term opportunity.
• Neutral Sentiment: SpaceX’s continued launches reduce execution risk for AST SpaceMobile’s constellation buildout, but the company remains dependent on a rapid launch schedule and successful satellite production to reach commercial scale. SpaceX Is Helping AST SpaceMobile Chase Its $1 Billion Revenue Goal
• Negative Sentiment: Second-quarter results missed expectations: revenue was $31.5 million versus approximately $34.5 million expected, while the loss of $0.77 per share was substantially wider than consensus. Higher spending and ongoing cash burn remain key risks as AST SpaceMobile funds network expansion.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 45,809 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the transaction, the chief financial officer directly owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total value of $3,854,800.00. Following the completion of the sale, the chief technology officer owned 34,750 shares of the company’s stock, valued at $3,348,857.50. This trade represents a 53.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 90,809 shares of company stock worth $8,603,392 over the last 90 days. 20.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd purchased a new stake in AST SpaceMobile in the third quarter valued at $29,000. Binnacle Investments Inc purchased a new stake in AST SpaceMobile in the second quarter valued at $33,000. BOKF NA acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $38,000. Finally, Chapman Financial Group LLC purchased a new position in shares of AST SpaceMobile during the 2nd quarter worth $38,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.