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AST SpaceMobile (ASTS)

Communication Services · satellite broadband and cellular networks

AST SpaceMobile is building the first global cellular broadband satellite network accessible directly from unmodified smartphones using LEO satellites and terrestrial mobile network partnerships.

What AST SpaceMobile does

AST SpaceMobile is developing the SpaceMobile Service, a global cellular broadband network delivered via a constellation of high-powered LEO satellites equipped with large phased-array antennas, designed to provide direct 4G-LTE and 5G connectivity to standard smartphones outside terrestrial cellular coverage. The company has partnerships with over 50 mobile network operators (MNOs) representing nearly 3 billion subscribers globally, and plans to operate on a revenue-sharing model. Beyond commercial cellular service, the company is also pursuing government applications using its patented satellite technology, including non-communication and communication government use cases.

Themes: ["satellite broadband / connectivity","cellular connectivity from space","LEO satellite constellation","5G/4G-LTE satellite services","mobile network operator partnerships","government satellite applications","spectrum (mid-band, low-band, S-Band ITU)","unmodified smartphone direct access"]

Fundamentals

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Key risks (from latest filing)

["Significant operating losses (net margin -573.67% as of 2026-07-09) with minimal revenue ($14.7M in Q1 2026) against operating expenses of $164M, requiring substantial future funding before network commercialization","Regulatory approval dependencies for spectrum usage, particularly the Ligado mid-band spectrum acquisition requiring FCC/bankruptcy court approval and conditions satisfaction, and international ITU spectrum regulatory compliance","Unproven commercial viability and scale risk: while test satellites (BlueWalker 3, Block 1 BB satellites) have demonstrated proof-of-concept with MNO partners, full-scale constellation deployment, cost-effective operations, and revenue generation from MNO partnerships remain unvalidated"]

See ASTS's biggest risks from its latest 10-Q →

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Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.

Last updated 2026-07-09.

Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.