AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were trading lower Wednesday but have since rebounded after the company reported second-quarter financial results and issued revenue guidance for the second half of fiscal year 2025.
What To Know: AST reported a loss of 41 cents per share, missing the consensus estimate of a 21 cent-loss. In addition, the company reported sales of $1.15 million, missing the consensus estimate of $7.51 million.
The company reiterated its plan to deploy 45 to 60 satellites by 2026 to provide continuous service in the U.S., Europe, Japan and other markets. AST expects nationwide intermittent service in the U.S. by the end of 2025, with launches scheduled every one to two months through 2026.
It maintained expectations for $50 million to $75 million in second-half 2025 revenue from government and commercial customers. The company ended the quarter with $939.4 million in cash, cash equivalents and restricted cash, and said pro forma liquidity exceeds $1.5 billion following recent financing transactions.
"Our technology and expanded spectrum access position us to deliver a true broadband experience directly from space to everyday smartphones," Abel Avellan, Founder, Chairman and CEO of AST.
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ASTS Price Action: At the time of writing, AST SpaceMobile shares are trading 11.72% higher at $51.30, according to data from Benzinga Pro.
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