AST SpaceMobile transitioned to a revenue-generating business in 2025, significantly advancing its operations and securing substantial contracted revenue commitments. The company is scaling its space-based network with an aggressive satellite launch campaign and expects to move towards broader commercial service activation in 2026.
Full year 2025 revenue reached $70.9 million, driven by mobile network operator partners and the U.S. Government.
positiveSecured over $1.2 billion in aggregate contracted revenue commitments from commercial partners.
positiveSuccessfully completed unfolding of BlueBird 6, the largest commercial communications array ever deployed in LEO, expected to exceed 120 Mbps peak data speeds.
positiveRobust balance sheet with over $3.9 billion in cash, cash equivalents, restricted cash and liquidity as of December 31, 2025, pro forma for recent financing.
positiveRaised $1.075 billion in gross proceeds from a new 10-year convertible senior notes offering in February 2026.
positiveTotal operating expenses for Q4 2025 were $126.6 million, an increase of $32.2 million from Q3 2025, driven by higher cost of revenues, engineering services costs, R&D, and depreciation.
attentionAdjusted operating expenses for Q4 2025 were $95.7 million, an increase of $28.0 million from Q3 2025.
attentionNet loss attributable to common stockholders was $341.9 million for FY2025, compared to $300.1 million in FY2024.
negativeNet loss per share (diluted) was $(1.34) for FY2025, compared to $(1.94) in FY2024.
negativeInventory levels increased significantly from $1.06 million in FY2024 to $12.0 million in FY2025.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
For the first time in 2025, AST SpaceMobile became a revenue generating business and it significantly advanced all key aspects of our operations including commercial, government, manufacturing, spectrum rights, IP portfolio, and capital position.
In 2026, we expect to scale our space-based direct-to-device network from initial commercial activation toward the start of broader commercial service.
Product revenue underpinned by delivery of 15 gateways across five continents.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.