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Investing.com -- AST SpaceMobile, Inc. (NASDAQ:ASTS) reported better-than-expected first quarter earnings on Thursday, sending its shares up 3.8% as the company unveiled plans for multiple satellite launches in the coming months.
The space-based cellular broadband network provider posted a Q1 adjusted loss of $0.20 per share, beating analyst estimates of a $0.26 loss. However, revenue fell short at $7.18 million compared to expectations of $10.94 million.
AST SpaceMobile announced a multi-provider satellite orbital launch plan with five contracted launches scheduled over the next six to nine months. The company expects to conduct orbital launches every one to two months on average during 2025 and 2026.
"We are at an inflection point for the company," said Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. "We have ramped up manufacturing capacity and are now able to announce our plans to support five scheduled orbital launches over the next six to nine months."
The company anticipates shipping its first Block 2 BlueBird satellite in Q2 2025, with an orbital launch scheduled for July 2025. AST SpaceMobile aims to reach a manufacturing cadence of six satellites per month during 2025.
Management expects second half 2025 revenue opportunities of $50.0 million to $75.0 million as the company advances its network commercialization efforts. AST SpaceMobile also signed a new contract with the Defense Innovation Unit for up to $20.0 million in revenue to support government communications.
As of March 31, 2025, the company reported $874.5 million in cash, cash equivalents, and restricted cash. Total (EPA:TTEF) operating expenses for Q1 were $63.7 million, up from $60.6 million in Q4 2024.
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