AS
AST SpaceMobile
ConvictionModerate
Pre-revenue capex-heavy infrastructure build; wholesale revenue-share with mobile network operators (50/50 split of incremental ARPU) plus US government/defense contracts, not a direct-to-consumer subscription.
Revenuefact
$70.9M FY2025$14.7M Q1 FY26 (fact, Mar-2026 qtrRev growthfact
+1,510% FY25 vs $4.4M FY24Q1 FY26 $14.7M vs ~$37M consensus = big miss (factGross margin
Not meaningfully reported — revenue is milestone/contract-drivennot a recurring-margin product yet (estimate: n/m pre-commercialOp marginfact
Deeply negative — Q1 FY26 opex $164.1M on $14.7M revenueoperating margin roughly -1,000%Capex intensity
Extreme — Q1 FY26 operating+investing cash use >$427M vs $14.7M revenue~29x); ~$1.45-1.6B est. annual burn 2026 (estimateMarket cap
~$25-28B25-26 Jun 2026; sources range $25.4B CNBC to $28.4B at 22 Jun) — factPrice · 1-year trend
real · weekly$73+61% 1yUSD
52-week range
$37 – $133
52w lowas of 2026-07-10 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityModerate
Space / launch economics
Full context
position · longWeak
Space / launch economics
Full context
book · long
Space / launch economics
Full context
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2025-03-03. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’21
$12M
FY’22
$14M+11%
FY’23
$14M0%
FY’24
$14M0%
Margins & balance sheet — FY’24
Net margin-2170.6%
Net cash$58M
The read
Where our coverage leans
Coverage leans bullish
Sign in to read the bull & bear take — Pro unlocks the full dossier.
Members only
Full financial intelligence for AST SpaceMobile
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence