AST SpaceMobile is engaged in developing the first-ever global cellular broadband network in space that will connect directly to standard, unmodified mobile devices. Founded to address coverage gaps that billions of people face globally, the company has pioneered technology that will enable mobile connectivity from space.

In the first quarter of 2025, AST SpaceMobile’s financial performance indicates an upward trajectory. For Q1 2025, the company reported total operating expenses of $63.7 million, a rise from $60.6 million in Q4 2024. Adjusted operating expenses for the same quarter were $44.9 million, compared to $40.8 million in the prior quarter. The rise in adjusted operating expenses includes increased research and development costs that went up by $1.8 million, general and administrative costs rising by $1.7 million, and an increase of $600,000 in adjusted engineering services costs.

For the quarter, AST SpaceMobile recorded gateway equipment bookings amounting to $13.6 million while expecting approximately $10 million in average bookings per quarter throughout 2025. The company anticipates generating revenues in the range of $50 million to $75 million in the second half of 2025. This revenue forecast is underpinned by anticipated government and commercial contracts, including an ongoing $43 million contract with the U.S. Space Development Agency and a newly announced agreement with the Defense Innovation Unit for up to $20 million.

As of March 31, 2025, AST SpaceMobile’s cash position stood at $874.5 million, a significant increase from $567.5 million at the end of the previous quarter. The company’s capital expenditures for Q1 2025 were approximately $124 million, up from $86 million in the prior quarter, primarily fueled by satellite manufacturing and launch contract payments. The firm is on track to achieve a satellite manufacturing cadence of six Block 2 BlueBird satellites per month by Q4 2025, targeting over 60 satellite launches over the upcoming 6 to 9 months.

AST SpaceMobile has also been proactive in advancing its regulatory efforts, having received Special Temporary Authority from the FCC to operate on public safety’s Band 14 spectrum. Furthermore, the company is working to establish continual regulatory authorizations for its proposed services in the U.S. and Europe. Overall, the ambitions set forth in this quarter reflect a commitment to improving connectivity while addressing potential gaps in broadband availability across various markets.