NEW YORK, May 12, 2026, 04:28 EDT
AST SpaceMobile posted a bigger first-quarter loss than expected, with revenue also missing Wall Street forecasts late Monday. The company held onto its 2026 revenue guidance and said the upcoming launch of its next three BlueBird satellites aboard a Falcon 9 is still set for mid-June. It’s working to transition its space-based cellular network from pilot projects and initial contracts into ongoing commercial service.
That’s a pressing issue now because AST has moved past the stage of just showcasing its tech. With its recent U.S. approval for Supplemental Coverage from Space—a regulatory green light that lets satellites address gaps where ground-based mobile networks fall short—the company is pushing ahead to link up regular smartphones, no custom gear required.
AST pulled in $14.7 million in revenue for the first quarter. Still, the company is sticking to its 2026 target of $150 million to $200 million, saying about 50% of that target is already covered by contracted backlog with mobile partners and the U.S. government.
Total revenue increased from $718,000 a year ago, according to the filing, while operating expenses jumped to $164.1 million versus $63.7 million last year. Net loss attributable to common stockholders came in at $191.0 million, or 66 cents per share, compared with $45.7 million, or 20 cents per share, a year prior.
AST wrapped up March holding roughly $3.46 billion in cash, cash equivalents and restricted cash—enough to support its expensive launch and production plans. According to the filing, the company burned through $48.1 million on operating activities and $379.3 million on investing activities in the quarter.
Chairman and CEO Abel Avellan said the company is “accelerating manufacturing” and highlighted advances on the regulatory front, as well as in commercial deals and government programs. According to AST, BlueBird 8, 9, and 10 are scheduled to launch in mid-June. BlueBird 11 through 33, meanwhile, are deep into production and assembly. Business Wire
The company reported it hit a peak data speed of 98.9 megabits per second using an in-orbit Block 1 satellite, connecting directly to an unmodified smartphone above international waters. The goal: about 45 BlueBird satellites up by 2026, supported by close to 60 mobile network operator partners—together, those partners reach over 3 billion subscribers.
Regulation is set to provide a short-term lift for revenue. In its latest quarterly filing, AST disclosed it secured key regulatory approvals for SpaceMobile Service on April 22. That triggered a $45 million commercial prepayment from Verizon, as stipulated in their earlier agreement.
President Scott Wisniewski, speaking on the earnings call, emphasized AST’s “launch-vehicle agnostic” stance following the BlueBird 7 issue, pointing to contracts in place with SpaceX, Blue Origin, plus others. Analysts also heard from Avellan that hitting the 45-satellite mark triggers the commissioning phase — a 45-day window dedicated to testing and connecting satellites with mobile carriers. The aim: cut that timeline down over time. The Motley Fool
Still, the plan isn’t without significant execution risk. According to AST, BlueBird 7 ended up in a lower-than-intended orbit after Blue Origin’s New Glenn 3 launch and was ultimately de-orbited; insurance claims have been filed, but payments aren’t in yet. The company’s filing points out that satellite testing, rocket readiness, launch window availability, logistics, regulatory issues, and partner agreements—all factors shaping launch timing—are often beyond AST’s direct control.
Competition isn’t standing still. T-Mobile just rolled out a business internet offering that uses its 5G network alongside Starlink backup. In April, Amazon struck a $11.57 billion agreement to acquire Globalstar, a move aimed at bolstering its satellite push against SpaceX’s Starlink.
AST faces a straightforward, if unforgiving, hurdle: stick to the launch timeline, get the satellites running, and prove partner or government markers can bridge the distance from a $14.7 million quarter to its bigger annual goal. The new cash grants breathing room—schedule risk stays on the table.
