AST SpaceMobile reports larger loss, missed revenue estimates, yet secures key satellite launch deals.

AST SpaceMobile reported a wider third-quarter loss of $171.95 million and missed analyst revenue estimates, causing its stock to drop by nearly 18%. Despite the financial setback, the company secured launch agreements with SpaceX and Blue Origin for its next-generation satellites, aiming to provide space-based mobile broadband services in key markets like the U.S., Europe, and Japan. AST SpaceMobile has $518.9 million in cash and has achieved milestones including the successful deployment of its first five satellites.

November 14, 2024
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