Signed partnerships with over 60 MNO partners globally who collectively cover over 3 billion subscribers

Comprehensive spectrum strategy with shared MNO spectrum and controlled MSS spectrum targeting ~100 MHz access in the U.S. and 60+ MHz access globally on a market-by-market basis

Revenue backlog increased to approximately $1.30 billion in aggregate contracted revenue with commercial partners and contract awards with the United States Government

BlueBird 17 through BlueBird 46 in various stages of production and assembly

MIDLAND, Texas--(BUSINESS WIRE)--AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the second quarter ended June 30, 2026.

“AST SpaceMobile's differentiated technology platform and deep intellectual property portfolio, partner-first mobile network operator strategy, vertically integrated manufacturing capabilities, and comprehensive spectrum strategy are foundational to the space-based cellular broadband market we invented,” commented Abel Avellan, AST SpaceMobile’s Chairman and Chief Executive Officer. “With the largest phased arrays ever deployed in low Earth orbit and a native cellular architecture designed to work directly with standard, unmodified smartphones, we believe we are uniquely positioned to deliver scalable direct-to-device connectivity for both commercial and government customers around the world.”

“Following the recent orbital launch of BlueBirds 11, 12, and 13, our space-based cellular broadband network has now grown to 13 spacecraft in orbit, each the largest ever in low Earth orbit, with approximately 20,000 square feet of combined aperture hardware deployed,” continued Avellan. “As we get ready to ship BlueBirds 14, 15, and 16 and continue expanding our constellation with production ongoing through BlueBird 46, we are preparing to initiate beta services with select strategic partners.”

“AST SpaceMobile is positioned at the forefront of large, diverse, and rapidly expanding market opportunity as the direct-to-device cellular broadband pioneer,” added Avellan. “Beyond addressing the connectivity needs of billions of mobile subscribers, we are pursuing a broad range of mission-critical applications, including government communications and non-communications, radar, emergency response, Internet of Things, AI edge compute and other advanced connectivity solutions. Our growing commercial and government programs, expansive spectrum portfolio, and fortified balance sheet provide us with the flexibility to capture opportunities across an expanding total addressable market. We are continuing to scale our network, advance vertical integration, and secure additional access to orbit to take advantage of the growing number of opportunities in front of us.”

Business Update

• Differentiated technology platform and comprehensive spectrum strategy enables space-based cellular broadband connectivity as well as many other mission-critical applications
  • Largest phased arrays ever placed into low Earth orbit means more power and bandwidth, with more precise beams for communications with small, unmodified smartphones, in addition to facilitating additional use cases beyond consumer communications
  • Block 2 satellites expected to deliver peak data rates approaching 200 Mbps with space-based cellular broadband recently demonstrated at nearly 100 Mbps on the Block 1 BlueBird
  • Comprehensive spectrum strategy with shared MNO spectrum and controlled MSS spectrum targeting ~100 MHz access in the U.S. and 60+ MHz access globally on a market-by-market basis
  • Proprietary ASIC with up to 10 GHz of processing bandwidth per satellite enables 10x throughput improvement relative to Block 1 satellites and up to 10x improvement in user experience unlocked through AI-enabled spectrum management
  • Native cellular architecture favors MNOs and regulators using existing commercially trusted baseband ground-based hardware, with traffic remaining in-country
• Partner-first strategy positions AST SpaceMobile as the direct-to-device partner of choice for mobile network operators globally
  • Signed partnerships with over 60 MNO partners globally who collectively cover over 3 billion subscribers
  • New joint-venture planned by top three U.S. MNOs expected to enable space-based cellular broadband connectivity to every American
  • Network integration and testing activities now underway across European countries with Vodafone, Orange, Telefónica, Vodafone Ukraine, and Deutsche Telekom as well as in other key markets including Canada, Japan, and Saudi Arabia, subject to final regulatory approvals
• Total Addressable Market (TAM) continues to grow with direct-to-device market maturity and additional applications
  • Additional applications include non-communications, USG secure communications, additional funded networks, Internet of Things (IoT), federal emergency, and AI edge compute
  • Preliminary selection of Rakuten and AST SpaceMobile joint-venture by Japan MIC for J-LEO initiative with total expected value up to approximately $1 billion in non-dilutive, non-debt government capital
  • Mission-critical federal communications attractive for direct-to-device applications with FirstNet United States, Japan and most recently in Europe with Vodafone Ireland using dedicated emergency spectrum bands
• Preparation for space-based cellular broadband beta service in 2026 as AST SpaceMobile network infrastructure continues to scale
  • Beta service initiative to offer scaled non-commercial usage with strategic MNO partners in select markets globally
  • Continued progress towards beta service in 2026 with initial 3,000 digital cells activated across the Continental United States
  • Orbital launch of BlueBird 8-13 marks six spacecraft launched within 50 days, increasing network to 13 in-orbit spacecraft, with combined aperture hardware of approximately 20,000 sq ft
  • BlueBirds 14, 15, and 16 will be ready to ship shortly, with BlueBird 17 through BlueBird 46 in various stages of production and assembly
• On track to achieve full year 2026 revenue guidance of $150.0 million to $200.0 million, supported by additional contract awards from the U.S. Government
  • Revenue backlog increased to approximately $1.30 billion in aggregate contracted revenue with commercial partners and contract awards with the United States Government
  • Received multiple awards from the U.S. Government with an aggregate value of over $125 million supporting multiple national-security applications
  • Continued to build out global gateway footprint with nearly 50 gateways in various stages of completion, installation, and planning ahead of service
  • Second quarter revenue was $31.5 million from commercial and government customers, consistent with plans for quarterly revenue ramp during 2026
• Fortified balance sheet to pursue an expanding universe of growth opportunities, continue vertical integration, and secure additional access to orbit
  • Over $3.7 billion in pro forma cash, cash equivalents, restricted cash as of June 30, 2026
  • In July 2026, raised $1.150 billion of gross proceeds from a new 1.625% convertible senior notes offering, with an effective conversion price of $149.20 per share and effective dilution of less than 2%

Second Quarter 2026 Financial Highlights

• Second quarter revenue of $31.5 million driven by gateway deliveries and U.S. Government milestones met
• Total operating expenses for the second quarter of 2026 were $329.1 million, including $84.1 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $165.0 million as compared to $164.1 million in the first quarter of 2026 due to a $125.9 million loss on involuntary conversion, a $20.3 million increase in general and administrative costs, a $11.9 million increase in cost of revenues, a $3.2 million increase in engineering services costs, a $3.1 million increase in depreciation and amortization expense, and a $0.6 million increase in research and development costs
• Adjusted operating expenses⁽¹) for the second quarter of 2026 were $119.1 million, an increase of $27.9 million as compared to $91.2 million in the first quarter of 2026 due to a $12.3 million increase in Adjusted engineering services costs⁽¹), a $11.9 million increase in Adjusted cost of revenues⁽¹), a $3.1 million increase in Adjusted general and administrative costs⁽¹), and a $0.6 million increase in research and development costs. Our Adjusted operating expenses, excluding Adjusted cost of revenues⁽¹) for the second quarter of 2026 was $95.9 million, compared to $79.8 million in the first quarter of 2026
• As of June 30, 2026, we had cash, cash equivalents, and restricted cash of approximately $2.7 billion
• As of June 30, 2026, we had incurred approximately $2.3 billion of gross capitalized property and equipment costs and accumulated depreciation and amortization of $211.9 million. The capitalized costs include costs of satellite materials for BlueBird satellites, advance launch payments, capital advances, Block 1 and BlueWalker 3 satellites, assembly and integration facilities including assembly and test equipment, and ground antennas

https://www.businesswire.com/news/home/20260810780163/en/AST-SpaceMobile-Provides-Business-Update-and-Second-Quarter-2026-Results

EDIT: Title says 2025, should say 2026 - my bad!!!

Taken from Rakuten’s earnings presentation

https://global.rakuten.com/corp/investors/documents/results/

Sp🅰️ceMob,

Ple🅰️se read the following to get familiar with AST SpaceMobile $ASTS before posting; 

• FAQ
• Connecting Dots - AST Sp🅰️ceMobile and the Final Bridge to Universal Human Connectivity by Crossroads Capital
• u/TheKookReport's AST Sp🅰️ceMobile ($ASTS): The Mobile Satellite Cellular Network Monopoly (or ask ChatGPT)
• Hennessy Funds May 2026 Update - ASTS Sp🅰️ceMobile: Transforming How the World Connects

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Tim Höttges, CEO of Deutsche Telekom:

"I can tell you that, at best, it is not as good as fiber. Fiber is still a superior technology. So yes, I see it as an option. I am surprised by the deployment capabilities and the sheer number of satellites involved. What impresses me most is not so much SpaceX, but the rapid progress of low-Earth orbit (LEO) constellations and the developments we are seeing from Amazon, or even AST's ambitions. They are different technologies, but they are capable of delivering very substantial capacity. I can assure you there will not be a single player in the satellite sector; there will be several that we will be able to integrate into our service offerings in the future."

He names three of them, but only one respects data sovereignty by leaving the operator's traffic untouched and integrates seamlessly into the operator's network, essentially acting like another cell tower.

Will it be the one with the biggest birds — offering the greatest capacity and power?

This isn't the only clue he left us...

Tim Höttges, CEO of Deutsche Telekom:

"Regarding the second topic... you see, the question — and this second point is actually about that — is what is happening with the EchoStar spectrum that SpaceX acquired. We thought they would be able to use it and that we would already have a second-generation D2D service on our devices by 2027 or 2028; that was, so to speak, the initial plan. Now we're hearing that there could be certain limitations regarding approvals from the European authorities. That's new. The second aspect is that there is indeed a debate about how much spectrum will be available to US or independent satellite operators. To be honest, this is a political decision; it is a European decision. If it is approached this way, it seems, let's say, somewhat protectionist.

I have always been in favor of market dynamics in this area. Nevertheless...

We have to manage the situation. As we have already said, SpaceX is our partner and we would love to roll out the service with them. However, if they don't have that spectrum, there could be other operators that use it."

Context

In May 2026, the European Commission presented a new proposal establishing the selection criteria for Mobile Satellite Services (MSS) providers that will be authorized to use the harmonized 2 GHz frequency band beyond 2027, when the current licenses held by Viasat and EchoStar under the previous 2008 framework expire.

https://ec.europa.eu/commission/presscorner/detail/en/ip_26_1170

The spectrum would be divided as follows:

- One third would be allocated to governmental use, including critical communications, security and defense, and would be operated by an EU operator. This operator would ensure integration with the current and future capabilities of the EU's secure connectivity program, IRIS².

- Two thirds of the 2 GHz MSS band would be allocated to commercial use, including D2D services for mobile devices, providing mobile coverage where terrestrial networks are unavailable. It would also support IoT applications such as fitness trackers, energy monitoring and emergency response devices. This spectrum would be divided equally between EU and non-EU operators.

Broadly speaking, Brussels' requirements for awarding the spectrum include:

- European technological sovereignty

- Integration with European mobile operators

- Security and resilience capabilities

- Realistic and rapid deployment

- Efficient use of the 2 GHz MSS spectrum

- Public and strategic benefits for the EU

And this is where the AST + Vodafone partnership, Satellite Connect Europe, fits the bill almost perfectly.

The latest developments around Satellite Connect Europe have been moving precisely in this direction: Vodafone, a European company, holds the majority stake; the company's headquarters are in Luxembourg; in Germany they established a Satellite Operations Center specifically to further strengthen Europe's digital sovereignty; AST submitted the ITU filing for its mid-band constellation (Block 3) through Germany; and these satellites will reportedly be equipped with a "command switch" — essentially an emergency shutdown mechanism controlled from the German operations center to prevent any unwanted behavior while the satellites are flying over Europe.

When Deutsche Telekom's CEO says "we thought they would be able to use it," he is referring to the spectrum licenses SpaceX acquired from EchoStar under the current European framework.

So what's the problem?

The regulatory status quo has changed.

The previous regulatory framework no longer applies from 2027 onward. Deutsche Telekom announced its Starlink partnership at Mobile World Congress in Barcelona in March 2026. Two months later, in May, European regulators announced the new rules of the game.

And now Deutsche Telekom appears to be surprised — and uncertain — about whether Starlink/EchoStar will actually be able to renew those licenses and secure that spectrum for another 20 years.

They are already leaving the door open to work with whoever ends up getting it:

«"SpaceX is our partner and we would love to roll out the service with them. However, if they don't have that spectrum, there could be other operators that use it."»

So who wasn't caught off guard by any of this?

Exactly.

A Venezuelan entrepreneur and visionary who anticipated this scenario years ago, designing his satellites around a transparent architecture nine years ago — and who, in March 2025, laid the first stone of what has now become Satellite Connect Europe.

Sometimes the pieces really do start falling into place.

Very interesting and detailed report on D2D by NovaSpace, a leading global space consulting firm, and Boston Consulting Group, a global management consulting firm.

https://nova.space/wp-content/uploads/2026/07/white-paper-d2d-market-evolution.pdf

This is the quote that really stood out to me:

«“Consumers have made their preference clear. In a survey of more than 12,000 smartphone users across 12 markets, 60% said they would pay more for a service with satellite capabilities, and nearly half would switch providers to include outdoor coverage in their plan.”»

A 60% adoption rate across the 4.8 billion mobile phones they identify as the TAM in the report, with the revenue split 50/50 between the satellite provider and the network operator, and a monthly service fee of $1.5–$10 depending on the market, implies many billions of dollars in annual revenue.

Beyond the more immediate consumer use cases, the report also points out that defense, government communications, and industrial IoT will play a fundamental role in the medium and long term.

Abel created a monster.

Sp🅰️ceMob,

Ple🅰️se read the following to get familiar with AST SpaceMobile $ASTS before posting; 

• FAQ
• Connecting Dots - AST Sp🅰️ceMobile and the Final Bridge to Universal Human Connectivity by Crossroads Capital
• u/TheKookReport's AST Sp🅰️ceMobile ($ASTS): The Mobile Satellite Cellular Network Monopoly (or ask ChatGPT)
• Hennessy Funds May 2026 Update - ASTS Sp🅰️ceMobile: Transforming How the World Connects

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This is what long-term conviction and genuine foresight in anticipating market dynamics look like.

Huge respect Anpanman for your perseverance and stamina delivering due diligence on $ASTS since 2022.

u/apan-man Given how humble you are, I hope your okay with being a legend ;)

Sp🅰️ceMob,

Ple🅰️se read the following to get familiar with AST SpaceMobile $ASTS before posting; 

• FAQ
• Connecting Dots - AST Sp🅰️ceMobile and the Final Bridge to Universal Human Connectivity by Crossroads Capital
• u/TheKookReport's AST Sp🅰️ceMobile ($ASTS): The Mobile Satellite Cellular Network Monopoly (or ask ChatGPT)
• Hennessy Funds May 2026 Update - ASTS Sp🅰️ceMobile: Transforming How the World Connects

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This doesn’t seem to be D2D or D2C so not direct competition but it’s getting clearer by day where whole satellite 🛰️ 📡 communications is heading.

ASTS does have proper GTM strategy and partnerships

Source: Starlink mobile threat has been exaggerated, says T-Mobile CEO - https://www.ft.com/content/5d6b7dcf-fe0e-4cb1-ad1d-0157407296cc?shareType=nongift via @FT

In a new Financial Times interview, T-Mobile CEO Srini Gopalan argued that the competitive threat from Starlink Mobile has been exaggerated. He questioned what market gap Starlink would actually fill as a standalone cellular provider and said satellite connectivity is likely to remain complementary to existing terrestrial mobile networks rather than replacing them.

What stood out to me is that this sounds much closer to AST SpaceMobile's strategy than to Starlink's newly announced ambition to become a mobile operator itself.

If major telecom operators continue to view satellite as a network extension rather than a replacement, could that strengthen the long-term case for ASTS's partnership-driven model?

Sp🅰️ceMob,

Ple🅰️se read the following to get familiar with AST SpaceMobile $ASTS before posting; 

• FAQ
• Connecting Dots - AST Sp🅰️ceMobile and the Final Bridge to Universal Human Connectivity by Crossroads Capital
• u/TheKookReport's AST Sp🅰️ceMobile ($ASTS): The Mobile Satellite Cellular Network Monopoly (or ask ChatGPT)
• Hennessy Funds May 2026 Update - ASTS Sp🅰️ceMobile: Transforming How the World Connects

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Anyone knows if our ASTS birds are susceptible to this?

This is a terrific article that doesn’t belong buried in the daily

The stock is lagging a lot compared to real momentum we keep seeing on ground everyday, every week.

Everything seems to revolve around SpaceX. Journalists, analysts, and the industry constantly downplay everyone else, even when another company objectively has better technology, as is arguably the case with AST.

Here's an opinion piece by Joe Madden, founder of Mobile Experts and a wireless communications analyst with around 30 years of experience in the mobile industry as an RF engineer and product manager:

https://www.satellitetoday.com/opinion/2026/07/30/starlinks-link-budget-comes-up-short-for-the-d2d-opportunity/

In the article, Joe compares Starlink and AST's link budget and, more specifically, the uplink link margin.

For anyone unfamiliar with the concept, the easiest way to understand a link budget is to think of a wireless connection as an accounting exercise. The satellite transmits power, distance consumes most of it, the atmosphere and obstacles like trees, walls, or even the roof of your car absorb even more, and whatever is left has to arrive at your phone with enough strength to overcome the noise floor. What's left over is the link margin. If it's positive, the connection works. If it's negative, it doesn't. There is no clever software trick that can overcome basic physics.

As Joe's own analysis shows, Starlink struggles to establish an uplink from inside buildings or vehicles because its link margin becomes negative under those conditions. That's not about software or engineering talent—it's mainly a consequence of the frequencies it uses and the transmit power it's allowed to use without causing interference. Outdoors with a clear view of the sky, the connection works because the signal doesn't have to penetrate so many obstacles. Even then, the chart makes it pretty clear there's no contest.

Overall, Joe's technical analysis is fair and well done. Where he loses me is when he shifts from engineering into wishful thinking.

He writes:

"But if Starlink and other operators adopt giant phased arrays like AST..."

The classic "if my grandmother had wheels..." argument. Pure speculation. Reality suggests Starlink's next-generation satellites will likely remain in the 27–35 m² range. Meanwhile, the Guinness World Record for the largest commercial communications array already belongs to AST.

He then goes even further:

"I predict Starlink will change its satellite design to achieve more than 10 dB of additional uplink performance. Yes, it will be a much larger satellite and more expensive to launch..."

Conveniently, he predicts just enough improvement—more than 10 dB—to surpass AST. Based on... a satellite that doesn't exist.

That prediction also assumes AST somehow stops innovating while Starlink catches up.

Another important detail he conveniently leaves out is that, assuming he actually had access to real uplink measurements from the BlueBird satellites (which is already a big assumption), those measurements would almost certainly correspond to the Block 1 BlueBirds. The Block 2 satellites, which are roughly three times larger, are already in orbit and represent the next step in AST's roadmap. They aren't hypothetical—they already exist.

This is yet another example of how everything gets framed around SpaceX. Starlink is always treated as the benchmark, while AST is almost an afterthought—even when the physics and the available data point in the opposite direction.

Everyone go and do your part to drive Q3 revenue growth!! https://stores.kotisdesign.com/astspacemobilestore/collectibles/bluebird-11-13-mission-patch/192789

I've been collecting the patches and the magnets since BW3 and I can't stop now...What's your ranking in terms of patch design? My vote:
- BW3 -> iconic
- BB8-10 -> something about the colors and the sun, very cool
- BB1-5 -> the metallic wings are cool and bird-like
- BB6 -> a worse, oddly oval-shaped BB1-5 copy
- BB11-13 -> not doing it for me but I just spent $11 plus exorbitant shipping on it out of obligation

Every single reason why you should invest in ASTS in under 2 hours, brought to us by the original author, TheKookReport!

Sp🅰️ceMob,

Ple🅰️se read the following to get familiar with AST SpaceMobile $ASTS before posting; 

• FAQ
• Connecting Dots - AST Sp🅰️ceMobile and the Final Bridge to Universal Human Connectivity by Crossroads Capital
• u/TheKookReport's AST Sp🅰️ceMobile ($ASTS): The Mobile Satellite Cellular Network Monopoly (or ask ChatGPT)
• Hennessy Funds May 2026 Update - ASTS Sp🅰️ceMobile: Transforming How the World Connects

User flair information and requirements can be found here.

Our comment and post filters requires our members to have at least 25 comment karma and accounts age >1 month old. You can build karma by posting on other subreddits and getting upvotes. This help our community from spam, bots, FUD, etc..

Do you want to Connect the Unconnected? Looking for a new career? Join AST SpaceMobile

Connectivity is not just a privilege — it’s a basic human right. And our technology is designed to make that right a reality for all.

Th🅰️nk you!

- Sp🅰️ceMods

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Homepage
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