Jun 2026 (Q2 FY26) — Aug 10, 2026
AST SpaceMobile Q2 FY26 — Commercial Readiness and Expanding TAM
Read the full callAST SpaceMobile (ASTS) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
AST SpaceMobile earnings: last reported Mon, 10 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 31.5 | +2626.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | -231 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
13 of 24 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Capital expenditures | $575 million to $650 million | Mar 2026 | Our capital expenditure for the second quarter of 2026 was approximately $610 million versus approximately $257 million for the first quarter. This figure was made up primarily of payments made in connection with multiple launch contracts, capitalized direct materials and labor for our BlueBird satellites with the balance relating to facility and production equipment expenditures. This amount for the quarter was just below the midpoint of the guidance of $575 million to $650 million that I provided during our last earnings call | Achieved |
| Inclusion of ASIC chips in launched satellites | mid-2025 to third quarter 2025 | Sep 2024 | Ghosted | |
| Commercial service activation | activation | Dec 2025 | And with a mix of launches, we think we can get to early 2027 for our initial 45 satellites. | Delayed |
11 of AST SpaceMobile, Inc.'s 42 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 39 more targets are in the full ledger.
Claimed
- Revenue more than doubled Q1, reaching $31.5 million in Q2 FY26.
- Revenue backlog increased to approximately $1.3 billion, including government contracts and partner agreements.
- Secured $1.15 billion in convertible debt, bolstering cash, cash equivalents, and restricted cash to over $3.7 billion.
- Received 3 new U.S. government contract awards with funded near-term value exceeding $100 million for 2026-2027.
- Selected for the Rakuten J-LEO project in Japan, with a total expected value of up to $1 billion in non-dilutive government capital.
Qualified
- Adjusted operating expenses, excluding cost of revenues, increased to $95.9 million in Q2 FY26 from $79.8 million in Q1 FY26, near the high end of guidance.
- Capital expenditure for Q2 FY26 was $610 million, up from $257 million in Q1 FY26, primarily due to significant launch payments.
- Revenue for FY26 is expected to be weighted towards the fourth quarter, with inherent quarterly variability.
Price
$41.87 +2.98% · +$1.21
Performance −49.9% 1Y
1Y: $83.49 on 17 Oct 2025 → $41.87. High $133.09 (28 May 2026), low $40.66 (16 Oct 2026).
- Previous close
- $40.66
- 52-week range
- $40.66 – $133.09
- One year
- −49.44%
Overview
- Symbol
- ASTS
- Sector
- Communication Services
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
13 of 24 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Capital expenditures | $575 million to $650 million | Mar 2026 | Our capital expenditure for the second quarter of 2026 was approximately $610 million versus approximately $257 million for the first quarter. This figure was made up primarily of payments made in connection with multiple launch contracts, capitalized direct materials and labor for our BlueBird satellites with the balance relating to facility and production equipment expenditures. This amount for the quarter was just below the midpoint of the guidance of $575 million to $650 million that I provided during our last earnings call | Achieved |
| Inclusion of ASIC chips in launched satellites | mid-2025 to third quarter 2025 | Sep 2024 | Ghosted | |
| Commercial service activation | activation | Dec 2025 | And with a mix of launches, we think we can get to early 2027 for our initial 45 satellites. | Delayed |
Claimed
- Revenue more than doubled Q1, reaching $31.5 million in Q2 FY26.
- Revenue backlog increased to approximately $1.3 billion, including government contracts and partner agreements.
- Secured $1.15 billion in convertible debt, bolstering cash, cash equivalents, and restricted cash to over $3.7 billion.
- Received 3 new U.S. government contract awards with funded near-term value exceeding $100 million for 2026-2027.
- Selected for the Rakuten J-LEO project in Japan, with a total expected value of up to $1 billion in non-dilutive government capital.
Qualified
- Adjusted operating expenses, excluding cost of revenues, increased to $95.9 million in Q2 FY26 from $79.8 million in Q1 FY26, near the high end of guidance.
- Capital expenditure for Q2 FY26 was $610 million, up from $257 million in Q1 FY26, primarily due to significant launch payments.
- Revenue for FY26 is expected to be weighted towards the fourth quarter, with inherent quarterly variability.
The full ledger
Open AST SpaceMobile, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 42 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 11, 2026
AST SpaceMobile Q1 FY26 — scaling manufacturing and launch cadence toward 45-satellite constellation, revenue reiterated
Read the full callDec 2025 (Q4 FY25) — Mar 2, 2026
AST SpaceMobile Q4 FY25 — Revenue Generation and Accelerated Satellite Deployment
Read the full callEvery analysed call
AST SpaceMobile earnings calls (ASTS)
Financials
What the filings say
Net profit, year on year: −132% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1 | 11 | 1 | 1 | 15 | 54 | 15 | 32 |
| Other income | -237 | 7 | -0 | -62 | -84 | -23 | -99 | -1 |
| Profit before tax | -302 | -52 | -63 | -135 | -163 | -95 | -248 | -299 |
| Tax rate | −0.2% | −0.3% | −0.3% | −0.6% | −0.2% | −2.8% | −0.5% | −0.4% |
| Net profit | -172 | -36 | -46 | -99 | -123 | -74 | -191 | -231 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Reserves | -40 | -70 | -102 | -190 | -490 | -832 |
| Total liabilities | 20 | 92 | 79 | 147 | 285 | 2,622 |
| Fixed assets | 37 | 96 | 146 | 238 | 338 | 1,399 |
| Investments | — | 315 | 231 | 70 | 510 | 2,000 |
| Total assets | 100 | 444 | 438 | 361 | 955 | 5,014 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | -23 | -80 | -156 | -149 | -126 | -72 |
| Cash from investing | -30 | -55 | -31 | -119 | -174 | -1,541 |
| Cash from financing | 70 | 417 | 102 | 117 | 780 | 3,827 |
| Net cash flow | 16 | 282 | -85 | -151 | 479 | 2,212 |
| Capital expenditure | -8 | -15 | -57 | -119 | -174 | -1,065 |
| Free cash flow | -31 | -95 | -214 | -268 | -300 | -1,136 |
ASTS revenue by segment
Product shrank from 91% to 78% of revenue over the last two quarters.
| Segment | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|
| Product | 91% | 78% | — |
| Service | 9% | 23% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ASTS operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Employees | 1,200+And now globally, we will soon have a manufacturing footprint with over 400,000 square feet of manufacturing space supported by a great team of over 1,200 global workforce.Source: earnings call transcript | <1,800This effort is supported by our steady expanding manufacturing footprint soon to be over 0.5 million square feet of manufacturing and operations space supported by a global workforce of nearly 1,800 people.Source: earnings call transcript | — | — | — |
| Gateway equipment bookings | $14.9MIn Q2, we delivered gateway equipment bookings of $14.9 million, a sequential increase primarily driven by the accelerated deployment of our global network infrastructure.Source: earnings call transcript | ~$14MWe also replenished the pipeline of Gateway bookings with approximately $14 million in new gateway equipment sales during Q3 and we continue to believe we will book over $10 million of new gateway equipment sales per quarter on average.Source: earnings call transcript | — | — | — |
| Manufacturing and operations space | — | — | 500K sq ft+On the manufacturing front, we have over 0.5 million square feet of manufacturing and operations space globally, as we continue to scale our manufacturing efforts.Source: earnings call transcript | 500K sq ft+We currently have over 500,000 square feet of manufacturing and operations space globally, including our dedicated macro production facility to help accelerate satellite production as we ramp up into our target cadence of 6 fully assembled satellites per month.Source: earnings call transcript | — |
| Patents and patent-pending claims | — | — | ~3,900We're supported by our extensive IP and patent portfolio of approximately 3,900 patents and patent-pending claims we successfully advanced from early-stage R&D to scale deployment of satellites and ground-based gateways.Source: earnings call transcript | 3,900+In particular, we're combining our over 3,900 patents and patent pending claims intellectual property and very large phased arrays with our spectrum access.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
68 filings between Nov 14, 2025 and Sep 28, 2026.
Open market
decisions to buy or sellPurchases
$806.4K
8 purchases by 2 insiders
Sales
$451.61M
14 sales by 7 insiders
29% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 22
- Award — granted as compensation
- 20
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 option exercises.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Mikitani Hiroshi | — | $270.90M | Apr 15, 2026 |
| AMERICAN TOWER CORP /MA/ | — | $159.63M | Dec 9, 2025 |
| Yao Huiwen | — | $12.71M | Sep 16, 2026 |
| Johnson Andrew Martin | — | $5.31M | Jun 11, 2026 |
| Gupta Shanti B. | — | $1.48M | Sep 16, 2026 |
| Torres Julio A. | — | $1.15M | May 13, 2026 |
| Cisneros Adriana | $657.3K | — | Aug 31, 2026 |
| Bernal Maya | — | $442.6K | Dec 5, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 28, 2026 | Thorsen Wayne EVP & Chief Commercial Officer | Award | 200,000 | $0 |
| Sep 16, 2026 | Yao Huiwen Chief Technology Officer | Sale 10b5-1 plan | 40,000 | $2.36M |
| Sep 16, 2026 | Gupta Shanti B. Chief Operating Officer | Sale | 12,000 | $706.7K |
| Aug 31, 2026 | Cisneros Adriana Director | Purchase | 1,384 | $80.0K |
| Aug 31, 2026 | Cisneros Adriana Director | Purchase | 670 | $39.4K |
| Aug 31, 2026 | Cisneros Adriana Director | Purchase | 8,768 | $499.8K |
| Aug 19, 2026 | Yao Huiwen Chief Technology Officer | Option exercised | 40,000 | $2.6K |
| Aug 17, 2026 | Turco Christopher Edward EVP and Chief of Staff | Award | 200,000 | $0 |
| Aug 17, 2026 | Gupta Shanti B. Chief Operating Officer | Award | 75,000 | $0 |
| Aug 17, 2026 | Avellan Abel Antonio Chief Executive Officer | Award | 150,000 | $0 |
| Aug 17, 2026 | Bernal Maya Chief Accounting Officer | Award | 20,000 | $0 |
| Aug 17, 2026 | Johnson Andrew Martin CFO and CLO | Award | 75,000 | $0 |
| Aug 17, 2026 | Wisniewski Scott President | Award | 75,000 | $0 |
| Aug 15, 2026 | Johnson Andrew Martin CFO and CLO | Tax withheld | 9,838 | $698.3K |
| Aug 15, 2026 | Wisniewski Scott President | Tax withheld | 9,838 | $698.3K |
| Aug 15, 2026 | Johnson Andrew Martin CFO and CLO | Tax withheld | 12,297 | $872.8K |
| Aug 15, 2026 | Gupta Shanti B. Chief Operating Officer | Tax withheld | 12,767 | $906.2K |
| Aug 15, 2026 | Bernal Maya Chief Accounting Officer | Tax withheld | 2,919 | $207.2K |
| Aug 15, 2026 | Wisniewski Scott President | Tax withheld | 12,297 | $872.8K |
| Jun 12, 2026 | Cisneros Adriana Director | Award | 2,124 | $0 |
| Jun 12, 2026 | RUBIN RONALD L Director | Award | 2,124 | $0 |
| Jun 12, 2026 | Wibergh Johan Director | Award | 2,124 | $0 |
| Jun 12, 2026 | Torres Julio A. Director | Award | 2,124 | $0 |
| Jun 12, 2026 | SARNOFF RICHARD Director | Award | 2,124 | $0 |
| Jun 11, 2026 | Johnson Andrew Martin CFO and CLO | Sale | 45,809 | $4.30M |
| Jun 6, 2026 | Wibergh Johan Director | Tax withheld | 208 | $19.5K |
| Jun 5, 2026 | Yao Huiwen Chief Technology Officer | Sale 10b5-1 plan | 40,000 | $3.85M |
| May 30, 2026 | Wisniewski Scott President | Tax withheld | 16,395 | $1.86M |
| May 30, 2026 | Johnson Andrew Martin CFO and CLO | Tax withheld | 16,377 | $1.86M |
| May 30, 2026 | Avellan Abel Antonio Chief Executive Officer | Tax withheld | 32,754 | $3.71M |
| May 30, 2026 | Bernal Maya Chief Accounting Officer | Tax withheld | 2,621 | $297.2K |
| May 30, 2026 | Gupta Shanti B. Chief Operating Officer | Tax withheld | 21,275 | $2.41M |
| May 22, 2026 | Yao Huiwen Chief Technology Officer | Award | 30,000 | $0 |
| May 20, 2026 | Johnson Andrew Martin CFO and CLO | Sale | 5,000 | $451.3K |
| May 19, 2026 | Yao Huiwen Chief Technology Officer | Option exercised | 40,000 | $2.6K |
| May 18, 2026 | Gupta Shanti B. Chief Operating Officer | Award | 66,667 | $0 |
| May 18, 2026 | Gupta Shanti B. Chief Operating Officer | Tax withheld | 11,350 | $985.5K |
| May 13, 2026 | Torres Julio A. Director | Sale | 15,000 | $1.15M |
| May 6, 2026 | Johnson Andrew Martin CFO and CLO | Tax withheld | 29,513 | $2.09M |
| Apr 15, 2026 | Mikitani Hiroshi 10% owner | Sale | 1,350,000 | $116.40M |
| Apr 14, 2026 | Mikitani Hiroshi 10% owner | Sale | 1,690,000 | $154.50M |
| Mar 31, 2026 | Wisniewski Scott President | Tax withheld | 15,241 | $1.26M |
| Mar 31, 2026 | Avellan Abel Antonio Chief Executive Officer | Tax withheld | 22,490 | $1.86M |
| Mar 31, 2026 | Johnson Andrew Martin CFO and CLO | Tax withheld | 12,167 | $1.01M |
| Mar 31, 2026 | Gupta Shanti B. Chief Operating Officer | Tax withheld | 8,357 | $692.5K |
| Mar 24, 2026 | Avellan Abel Antonio Chief Executive Officer | Award | 184,375 | $0 |
| Mar 24, 2026 | Gupta Shanti B. Chief Operating Officer | Award | 54,687 | $0 |
| Mar 24, 2026 | Johnson Andrew Martin CFO and CLO | Award | 100,000 | $0 |
| Mar 24, 2026 | Wisniewski Scott President | Award | 123,437 | $0 |
| Mar 23, 2026 | Yao Huiwen Chief Technology Officer | Sale 10b5-1 plan | 40,000 | $3.56M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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