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Investing.com -- AST SpaceMobile Inc on Tuesday reported a wider second-quarter loss and revenue well below Wall Street estimates, as the satellite communications company ramped up spending to build its space-based cellular broadband network.
The company posted a loss of 41 cents per share for the quarter ended June 30, compared with analysts’ expectations for a loss of 21 cents.
Revenue fell to $1.15 million from $15 million a year earlier, missing estimates of $5.56 million.
AST SpaceMobile said it still expects $50 million to $75 million in revenue in the second half of 2025 from government and commercial customers.
It plans to deploy 45 to 60 satellites into orbit by 2026 to support continuous service in the United States, Europe, Japan and other markets, with launches scheduled every one to two months over the next two years.
The Texas-based company ended the quarter with $939.4 million in cash, cash equivalents and restricted cash.
Shares were down 2% in volatile aftermarket trading.