AST SpaceMobile (NASDAQ:ASTS) reported second-quarter 2026 revenue of $31.5 million and reiterated its full-year revenue guidance of $150 million to $200 million, as the company continued to build satellites, deploy mobile-network infrastructure and pursue government applications for its space-based cellular broadband network.
The company said quarterly revenue more than doubled from the first quarter, driven primarily by commercial gateway deliveries and milestone achievements under U.S. government contracts. President Scott Wisniewski said AST delivered against 13 gateways for seven customers across five continents during the quarter.
Satellite deployment and manufacturing plans
Chairman and CEO Abel Avellan said BlueBird 14 through 16 were in final testing and nearing completion, while BlueBird 17 through 46 were in various stages of production and assembly. Johnson said BlueBird 14 through 16 were expected to be ready to ship shortly.
AST SpaceMobile is targeting approximately 45 BlueBird satellites in orbit by early 2027, which management said could enable continuous service across key markets including the U.S., Europe and Japan. The company also said it expects to begin consumer-focused beta capabilities later in 2026, though the timing and structure of any customer rollout will be determined with carrier partners.
The company is aiming for a manufacturing cadence of six fully assembled satellites per month. Avellan said AST currently has more than 500,000 square feet of manufacturing and operations space globally and recently announced plans for an additional 400,000-square-foot facility in Midland, Texas. Once completed, the company expects its global manufacturing and operations footprint to exceed 1 million square feet, including more than 900,000 square feet in the U.S.
Wisniewski said the company has 10 launches booked with two launch providers, excluding Blue Origin, and is targeting an average launch cadence of roughly every month or two. He said AST was not relying on Blue Origin in its current planning assumptions, despite the provider’s progress in addressing a prior launch anomaly.
Johnson reiterated AST’s estimated average capital cost of $21 million to $23 million per satellite for a constellation of more than 90 BlueBird satellites. That estimate includes direct materials, labor and launch costs, excluding certain initial satellites used for validation.
Commercial partners, spectrum and network infrastructure
AST said its mobile network operator ecosystem has grown to more than 60 partners serving more than 3 billion subscribers collectively. Its named partners include AT&T, Verizon, Vodafone, Rakuten, stc Group, Bell Canada and Telus.
Avellan said the company’s network is designed to extend existing terrestrial cellular networks rather than compete with mobile operators. AST is preparing for beta service in selected markets and said it has roughly 50 gateways globally in various stages of completion, installation and planning.
In the U.S., AST said it has deployed more than 3,000 low-band cellular cells and expects to deploy the remaining infrastructure needed to cover roughly 5,600 cellular cells nationwide during 2026.
Management also emphasized its spectrum position. Avellan said AST’s satellite technology can tune approximately 1,150 megahertz of low-band and mid-band spectrum globally, with C-band capability planned for the future. The company said it is working toward about 100 megahertz of spectrum access in the U.S. through a combination of partner-provided spectrum and spectrum it controls.
During the analyst question session, Avellan said the company’s current “Micron” satellite systems are focused on low-band capabilities, while production of mid-band capability is expected to begin later in 2026 for launches beginning early in 2027. He said the company is developing a third-generation ASIC architecture incorporating L-band, mobile satellite service spectrum, mid-band and C-band capabilities, while continuing to use different phased arrays for separate spectrum blocks.
Government backlog and expanded applications
AST reported an approximately $1.3 billion revenue backlog consisting of aggregated contracted revenue, partner agreements and U.S. government contract awards. Wisniewski said government represented a minority of the total backlog, although recent additions were primarily government-related.
The company said it received three U.S. government contract awards with funded near-term value of more than $100 million expected during 2026 and 2027. Wisniewski said AST expects the government opportunity to scale into what he described as a recurring multibillion-dollar annual opportunity beginning in 2027, though the company did not provide further details on the awards.
Management highlighted applications beyond direct-to-device communications, including radar, secure communications, emergency response, Internet of Things services and AI edge computing. Avellan said radar applications in the U.S. use government spectrum and rely on the company’s large phased-array antennas and satellite sensitivity.
AST also discussed a preliminary selection tied to Japan’s low-Earth-orbit satellite infrastructure development project, or J-LEO. The company said the project, subject to government approvals and final agreements with Rakuten, could provide up to approximately $1 billion in non-dilutive, non-debt government capital. Avellan said Japanese-flagged satellites would use the same architecture as the broader constellation and could be deployed globally.
Spending and liquidity
Non-GAAP adjusted operating expenses totaled $119.1 million in the second quarter, up from $91.2 million in the first quarter. Excluding adjusted cost of revenues, expenses were $95.9 million, near the high end of the company’s prior $85 million to $95 million guidance range.
Capital expenditures were approximately $610 million, compared with $257 million in the first quarter, largely reflecting launch-contract payments and satellite materials and labor. For the third quarter, AST forecast adjusted operating expenses excluding cost of revenue of $105 million to $115 million and capital expenditures of $350 million to $425 million.
In July, AST completed a $1.15 billion convertible senior notes offering due in 2034, carrying a 1.625% coupon. Johnson said that, including the offering’s gross proceeds, cash, cash equivalents and restricted cash totaled more than $3.7 billion on a pro forma basis as of June 30.
About AST SpaceMobile (NASDAQ:ASTS)
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.
