AST SpaceMobile (ASTS)
AST SpaceMobile (ASTS) is building a space-based cellular network whose large BlueBird satellites connect directly to ordinary, unmodified smartphones. In ETFpedia it represents the U.S. Space Tech concept as a hybrid play that builds its own satellites upstream and sells space-based mobile connectivity downstream through carrier partners, while still deeply loss-making.
| Ticker | ASTS |
|---|---|
| Exchange | Nasdaq |
| Sector | Satellite Communications · Direct-to-Cell |
| Country | United States |
| Wikidata | Q112659289 |
| Last updated | 2026-06-04 |
Next event:Next earnings · Q2 2026, estimated · Calendar-estimated from prior years; not confirmed by the company. Last report: Q1 2026 on 2026-05-11. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-11)
AST SpaceMobile remains in an early, pre-scale revenue phase. Q1 2026 revenue was $14.7 million, mostly from U.S. government milestones and gateway hardware, against a total net loss of $249.6 million. The company held about $3.0 billion in cash and targets roughly 45 BlueBird satellites in orbit by year-end.
| Revenue | $14.7M+~1,950%YoY · From $0.7M; government milestones and gateway hardware |
|---|---|
| Total net loss | $(249.6)M · Loss to common stockholders $(191.0)M; EPS $(0.66) |
| Cash & equivalents | $3.0B · Total cash, equivalents and restricted cash $3.46B |
| BlueBird satellites in orbit | 6 · BlueWalker 3 and BlueBird operational |
Guidance:Full-year 2026
| Revenue | $150M-$200M |
|---|---|
| BlueBird satellites in orbit | ~45 by year-end |
2026 revenue guidance reaffirmed; supported by a commercial pipeline over $1.2B and government contract wins.
Recent & upcoming events
- · Q1 2026 business update.Revenue $14.7M with a total net loss of $249.6M ($191.0M to common stockholders); held about $3.0B in cash and reaffirmed 2026 revenue guidance of $150M-$200M. (source)
- · Targets ~45 satellites by year-end.With 6 BlueBird-class satellites in orbit, the company set a target of roughly 45 satellites in orbit by year-end 2026 to begin scaling direct-to-cell service. (source)
Revenue, losses, cash, and satellite counts are from the Q1 2026 IR release/8-K. The total net loss of $249.6M differs from the $191.0M loss to common stockholders because of $58.6M allocated to noncontrolling interests.
Figures are as of 2026-06-04 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does AST SpaceMobile do?
AST SpaceMobile is trying to do something no one has done at scale: let a standard, unmodified smartphone connect to the internet directly through a satellite, with no special hardware. Its BlueBird satellites carry very large phased-array antennas designed to act like cell towers in space, filling coverage gaps over oceans, deserts, and rural areas where terrestrial networks do not reach. The company does not sell to consumers directly. Instead it partners with mobile network operators, positioning its constellation as an extension of their existing networks. The business is still in an early, build-out phase: Q1 2026 revenue of $14.7 million came mostly from U.S. government milestones and gateway hardware sales rather than recurring consumer connectivity (AST SpaceMobile Q1 2026).
AST SpaceMobile reaffirmed its 2026 revenue guidance of “$150 million to $200 million,” supported by a commercial pipeline worth over $1.2 billion and recent government contract wins.
Why is AST SpaceMobile a U.S. Space Tech company?
The U.S. Space Tech theme spans companies that build space hardware (upstream) and companies that sell what space enables (downstream). AST SpaceMobile sits on both sides: it designs and builds its own large direct-to-cell satellites, then aims to monetize them through carrier partnerships, so it gives the theme its clearest exposure to the satellite-to-phone market. The whole thesis hinges on deploying enough satellites to provide continuous coverage. As of Q1 2026 the company had 6 BlueBird-class satellites in orbit and set a target of roughly 45 by year-end (AST SpaceMobile Q1 2026).
What did AST SpaceMobile report most recently?
In Q1 2026 (the quarter ended March 31, 2026), AST SpaceMobile reported revenue of $14.7 million, up sharply from $0.7 million a year earlier but still tiny relative to its spending (AST SpaceMobile Q1 2026). The company posted a total net loss of $249.6 million, of which $191.0 million was attributable to common stockholders (EPS of $(0.66)), with the difference allocated to noncontrolling interests. It funds this heavy build-out from a large cash position: about $3.0 billion in cash and equivalents, or $3.46 billion including restricted cash, bolstered by a recent convertible debt raise. The honest read is a pre-scale company spending heavily to deploy a constellation before its connectivity revenue exists at scale.
What is AST SpaceMobile’s guidance?
AST SpaceMobile reaffirmed 2026 revenue guidance of $150 million to $200 million, which it says is supported by a commercial pipeline of over $1.2 billion plus government contract wins, and it targets roughly 45 BlueBird satellites in orbit by year-end (AST SpaceMobile Q1 2026). Both targets depend on launching and operating satellites on schedule, which has been the central execution question for the company since its public debut.
What are the risks for AST SpaceMobile?
- Very large losses against tiny revenue. A $249.6 million quarterly net loss on $14.7 million of revenue means the company is funded by its balance sheet, not its operations, and continued dilution or debt is likely.
- Deployment risk. The thesis requires scaling from 6 to roughly 45 satellites and beyond; launch delays or satellite failures would push out the revenue ramp.
- Cash burn and financing. Heavy capital spending draws down the roughly $3.0 billion cash pile, so the timing of revenue versus financing needs matters.
- Technical and regulatory hurdles. Direct-to-cell from space is unproven at scale and depends on spectrum, regulatory approvals, and carrier partner commitments.
Related securities, concepts & terms
- U.S. Space Techparent
- Planet Labs (PL)sibling
Related indices & ETFs
- Akros U.S. Space Tech Index · AkrosAST SpaceMobile is a representative constituent of the U.S. Space Tech concept index.
Frequently asked questions about AST SpaceMobile
What does AST SpaceMobile do?
AST SpaceMobile is building a space-based cellular broadband network. Its large BlueBird satellites are designed to connect directly to ordinary, unmodified smartphones, so a standard phone can get coverage from space where there is no cell tower. It works through mobile network operators rather than selling to consumers directly, positioning the satellites as an extension of existing carrier networks (AST SpaceMobile Q1 2026).
Why is AST SpaceMobile part of the U.S. Space Tech theme?
It is a hybrid upstream and downstream play. It builds its own large direct-to-cell satellites (upstream) and aims to sell space-based mobile connectivity through carrier partners (downstream), giving the theme exposure to the satellite-to-phone market. It had 6 BlueBird-class satellites in orbit as of Q1 2026 and targets roughly 45 by year-end (AST SpaceMobile Q1 2026).
Is AST SpaceMobile profitable, and how big are its losses?
No. AST SpaceMobile is pre-scale and deeply loss-making as it builds out its satellite network. In Q1 2026 it reported a total net loss of $249.6 million ($191.0 million attributable to common stockholders, EPS $(0.66)) on just $14.7 million of revenue. It funds this from a large cash balance of about $3.0 billion, bolstered by recent convertible debt (AST SpaceMobile Q1 2026).
How many BlueBird satellites does AST SpaceMobile have in orbit?
As of its Q1 2026 update, AST SpaceMobile had 6 BlueBird-class satellites in orbit, including BlueWalker 3 and operational BlueBird units. It targets roughly 45 satellites in orbit by the end of 2026, the fleet size it says it needs to begin scaling continuous direct-to-cell service (AST SpaceMobile Q1 2026).
When does AST SpaceMobile report next earnings?
AST SpaceMobile is expected to report Q2 2026 results in August 2026. That date is calendar-estimated from prior years and not yet confirmed by the company, so check its investor relations page. It last reported Q1 2026 on May 11, 2026, and reaffirmed 2026 revenue guidance of $150 million to $200 million.
Sources & references
- AST SpaceMobile provides business update and first quarter 2026 results (Form 8-K, Exhibit 99.1) · AST SpaceMobile, Inc. / SEC EDGAR, 2026-05-11
- AST SpaceMobile, Inc. · Q1 2026 quarterly report (Form 10-Q filing index) · AST SpaceMobile, Inc. / SEC EDGAR, 2026-05-11
- AST SpaceMobile first quarter 2026 earnings press release (Form 8-K, Exhibit 99.1) · AST SpaceMobile, Inc. / SEC EDGAR, 2026-05-11
- AST SpaceMobile · investor relations and events · AST SpaceMobile, Inc., 2026-06-04