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ASTS Misses Earnings, But Rockets to New Goals
9 Nov
Summary
- AST Spacemobile reported Q3 results missing analyst expectations.
- Company plans nationwide U.S. service activation by late 2026.
- New proprietary 20-ton reusable rocket 'Blacklift' unveiled.
AST Spacemobile (NASDAQ:ASTS) reported third quarter adjusted EPS of -$0.44, missing the consensus estimate of -$0.40, and revenue of $42.3 million, below the anticipated $47.9 million. The company's revenue was primarily driven by gateway deliveries and U.S. government milestones.
Looking ahead, AST Spacemobile aims to activate nationwide intermittent service in the United States and other key markets before the end of 2026. They also introduced Blacklift, a proprietary 20-ton reusable rocket designed for deploying BlueBird satellites into low Earth orbit beginning in late 2028. The company has secured $1.0 billion in non-dilutive funding from the Japan Ministry of Internal Affairs and Communications to support satellite manufacturing and launch.
Shares saw a slight increase of 0.9% in after-hours trading following these announcements. AST Spacemobile reaffirmed its full-year revenue guidance between $150 million and $200 million. As of September 30, 2026, the company held approximately $3.2 billion in cash, cash equivalents, and restricted cash. Total operating expenses for the third quarter were $211.0 million, a decrease from the previous quarter, partly due to a significant one-time loss recorded in the prior period.
