ASTS

MKT CAP:$31B

AST SpaceMobile, Inc.

Market Cap

$31B

Technology·Communication Equipment·🇺🇸 United States·NASDAQ

Technology·Communication·🇺🇸·NASDAQ

Stock Price

$76.75-$6.72 (-8.05%)

Apr 24, 2026

Company Details

AST SpaceMobile, Inc. operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea,...

CEO

Abel Avellan

IPO Date

Nov 1, 2019

Website

ast-science.com

Key Metrics TTM

Revenue

$18M

+49.1% YoY

Net Income

-$238M

EPS (Diluted)

-$1.52

Free Cash Flow

-$458M

Revenue / Share

$0.07

Gross Margin

58.4%

Operating Margin

-1308.0%

Net Margin

-1320.2%

FCF Margin

-2537.3%

P/S

1698.9x

P/E

—

Earnings Reports

Q4 2025

May 11, 2026

PENDING

Q3 2025

Nov 10, 2025

$15MEPS -$0.45

Q2 2024

Aug 14, 2024

$900.0KEPS -$0.51

Q4 2023

Apr 1, 2024

$0EPS -$0.35

Q1 2022

May 16, 2022

$2MEPS -$0.21

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 19	$0	$0	-$1.1K
Q3 19	$0	-$94.6K	-$94.6K
Q4 19	$661.0K	$617.0K	-$3M
Q2 20	$402.0K	-$370.0K	-$6M
Q4 20	$3M	$2M	-$8M
Q2 21	$3M	$2M	-$23M
Q4 21	$6M	$3M	-$28M
Q1 22	$2M	$408.0K	-$32M
Q4 23	$0	$0	-$61M
Q2 24	$900.0K	$900.0K	-$63M
Q3 25	$15M	$9M	-$80M

Valuation

Quarter	P/S	P/E
Q2 19	—	—
Q3 19	—	—
Q4 19	—	—
Q2 20	373.9x	—
Q4 20	149.2x	—
Q2 21	111.0x	—
Q4 21	47.9x	—
Q1 22	53.7x	—
Q4 23	71.8x	—
Q2 24	241.5x	—
Q3 25	1006.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 19	$87.8K	$87.8K
Q4 19	-$3M	-$5M
Q2 20	-$9M	-$18M
Q4 20	-$10M	-$19M
Q2 21	-$38M	-$56M
Q4 21	-$21M	-$36M
Q1 22	-$48M	-$69M
Q4 23	-$25M	-$47M
Q2 24	-$16M	-$38M
Q3 25	-$64M	-$303M

Capital Expenditures

Quarter	CapEx
Q3 19	$0
Q4 19	$2M
Q2 20	$9M
Q4 20	$10M
Q2 21	$19M
Q4 21	$14M
Q1 22	$22M
Q4 23	$22M
Q2 24	$22M
Q3 25	$238M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	—	+976935.7%
Q2 21	—	+27598.9%
Q4 21	+841.0%	+852.6%
Q1 22	+495.5%	+445.4%
Q4 23	-100.0%	+470.1%
Q2 24	-67.5%	+143.8%
Q3 25	+137.0%	+179.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 19	$0	—
Q4 19	$22.0K	3.3%
Q2 20	$0	0.0%
Q4 20	$0	0.0%
Q2 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q4 23	$3M	—
Q2 24	$9M	986.0%
Q3 25	$14M	94.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 19	—	—	—	$1.1K
Q4 19	$2M	$2M	—	—
Q2 20	$3M	$3M	—	—
Q4 20	$6M	$5M	—	—
Q2 21	$15M	$9M	—	—
Q4 21	$19M	$11M	$1M	—
Q1 22	$20M	$12M	—	—
Q4 23	$31M	$6M	$4M	—
Q2 24	$26M	$18M	—	—
Q3 25	$46M	$30M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$254M	$0	$254M
Q2 22	$202M	$0	$202M
Q3 22	$199M	$0	$199M
Q4 22	$239M	$0	$239M
Q1 23	$185M	$0	$185M
Q2 23	$191M	$0	$191M
Q3 23	$136M	$0	$136M
Q4 23	$86M	$0	$86M
Q1 24	$210M	$0	$210M
Q2 24	$285M	$0	$285M
Q3 24	$516M	$0	$516M
Q4 24	$565M	$0	$565M
Q1 25	$874M	$0	$874M
Q2 25	$924M	$0	$924M
Q3 25	$1.2B	$0	$1.2B
Q4 25	$2.3B	$0	$2.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 19	29M	—	—
Q3 19	29M	0.0%	—
Q4 19	29M	0.0%	—
Q2 20	29M	0.0%	—
Q4 20	29M	0.0%	0.0%
Q2 21	52M	+79.9%	+79.9%
Q4 21	52M	+0.0%	+79.9%
Q1 22	52M	+0.1%	+80.0%
Q4 23	90M	+73.9%	+213.1%
Q2 24	141M	+56.9%	+172.9%
Q3 25	273M	+93.2%	+427.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 19	—	—
Q3 19	—	—
Q4 19	$220.3K	3
Q2 20	$134.0K	3
Q4 20	$900.7K	3
Q2 21	$924.3K	3
Q4 21	$16.1K	386
Q1 22	$6.2K	386
Q4 23	$0	489
Q2 24	$1.8K	489
Q3 25	$25.5K	578

Revenue / Employee