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AST SpaceMobile, Inc. (ASTS) perpetual futures
ASTS perpetual futures on 20 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade ASTSUSDT.
AST SpaceMobile operates a satellite-based broadband network that connects directly to standard mobile phones, providing internet access in remote or unserved areas, including oceans and air travel.
$31.71-9.9%NASDAQ open
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Trading data
Perpetual market activity
20/20 live markets
Trading data
Perpetual market activity
Venues
20
Live markets
20/20
24h volume
$15.4MCoverage: 17/20 marketsExchange-reported volume: $23.4M
Open interest
$6.2MCoverage: 16/20 markets
Best liquidity
$1.5M
Ourbit
Tightest spread
+3.2 bps
Ourbit
Highest volume
$5M
Binance
Settlement mix
USDT · 17/20
Perp/spot vol.
0.05x
Spot volume $313.5M
OI / float
+0.07%
Float $8.7B
Spot performance
1D-5.79%
5D+12.97%
1M-26.70%
6M-53.88%
YTD-52.50%
1Y-43.85%
Venue matrix
20 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | ASTS/USDT | Trading | $31.71 | 0.0% APR 0.000% every 8h | +6.3 bps | $628.3K | $5M | $2.1M | USDT | - | |
 Gate.io | Trade | ASTS/USDT | Trading | $31.72 | 0.0% APR 0.000% every 8h | +12.6 bps | $370.1K | $1.9M | $706.2K | USDT | 50x | |
 Bybit | Trade | ASTS/USDT | Trading | $31.74 | 0.0% APR 0.000% every 8h | +12.6 bps | $49.4K | $843.6K | $1.2M | USDT | 25x | |
 OKX | Trade | ASTS/USDT | Trading | $31.73 | +2.5% APR +0.00225% every 8h | +18.9 bps | $103.1K | $500.9K | $481.7K | USDT | 20x | |
 Bitget | Trade | ASTS/USDT | Trading | $31.69 | 0.0% APR 0.000% every 8h | +9.5 bps | $395.1K | $349.8K | $733.7K | USDT | 20x | |
 KuCoin | Trade | ASTS/USDT | Trading | $31.67 | 0.0% APR 0.000% every 8h | +50.5 bps | $10.8K | $263.1K | $258.4K | USDT | 20x | |
 Bitunix | Trade | ASTS/USDT | Trading | $31.73 | +0.1% APR +0.00008% every 8h | +3.2 bps | $1M | $231.4K | $32.9K | USDT | 50x | |
 MEXC | Trade | ASTS/USDT | Trading | $31.69 | 0.0% APR 0.000% every 8h | +22.0 bps | $152.7K | $130.4K | $464.5K | USDT | 100x | |
 GRVT | Trade | ASTS/USDT | Trading | $31.73 | +1.5% APR +0.00140% every 8h | +37.9 bps | $70.8K | $104.6K | $841.3 | USDT | - | |
 BloFin | Trade | ASTS/USDT | Trading | $31.74 | -1.4% APR -0.00124% every 8h | +9.5 bps | $597.7K | $36.2K | $50.8K | USDT | 20x | |
 Aster | Trade | ASTSUSDT | Trading | $31.74 | 0.0% APR 0.000% every 8h | +28.4 bps | $93.1K | $11.9K | $12K | USDT | - | |
 Extended | Trade | ASTS/USD | Trading | $31.68 | 0.0% APR 0.000% every 1h | +10.7 bps | - | $4K | $5.6K | USD | 10x | |
 Crypto.com Exchange | Trade | ASTS/USD | Trading | $31.68 | +46.6% APR +0.00531% every 1h | +15.8 bps | $6.2K | $3.2K | $865.5 | USD | 50x | |
 HTX | Trade | ASTS/USDT | Trading | $31.74 | 0.0% APR 0.000% every 8h | +113.4 bps | $1.3K | $1.8K | $5.4K | USDT | - | |
 Vest | Trade | ASTS/USDC | Trading | $31.63 | +5.0% APR +0.00057% every 1h | +28.5 bps | - | - | - | USDC | 10x | |
 XT.com | Trade | ASTS/USDT | Trading | $31.73 | 0.0% APR 0.000% every 8h | +3.2 bps | $13.4K | $3.3M | - | USDT | 20x | |
 BingX | Trade | ASTS-USDT | Trading | $31.74 | +0.8% APR +0.00070% every 8h | +12.7 bps | $777.5K15 min | $1.8M | - | USDT | - | |
 LBank | Trade | ASTS/USDT | Trading | $31.73 | 0.0% APR 0.000% every 8h | +15.8 bps | $594.2K | $906.7K | - | USDT | 50x | |
 Deepcoin | Trade | ASTS/USDT | Trading | $31.75 | +18.9% APR +0.017% every 8h | +3.2 bps | $410.8K | $5.3M⚠ | $14.4K | USDT | 25x | |
 Ourbit | Trade | ASTS/USDT | Trading | $31.71 | 0.0% APR 0.000% every 8h | +3.2 bps | $1.5M | $2.6M⚠ | $117.9K | USDT | 100x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| ASTSBbStocks | $31.46 | -0.80% | $1.8M | $1.3M | BNB Smart Chain (BEP20) |
| ASTSonOndo GM | $34.62 | +9.17% | $252k | $2.4M | Solana · Ethereum · BNB Smart Chain (BEP20) |
| rASTSTokenized | $32.19 | +1.50% | $34k | $872k | Arbitrum |
| ASTSxxStocks | $34.62 | +9.18% | $12k | $790k | Solana · Ethereum · Ink · Arbitrum |
| ASTSRobinhood | – | – | – | $25k | Robinhood Chain |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 17 of 20 venues absorb $10k · Typical cost: +10.8 bps – +38.2 bps
Cheapest execution: Binance · +8.3 bps
Too thin: KuCoin, Crypto.com Exchange
No fresh book data: Extended
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
ASTSTightest spread
ASTSHighest volume
ASTSFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-03-01
Revenue est. $75M · Updated 43m ago
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
NASDAQ
Extended-hours reference
Bid31.66
Ask33.8
Volume5,316,495
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-2.36$165.2M+133%5
FY 2027-1.42$567.5M+244%8
FY 2028-0.16$1.6B+185%5
FY 20291.82$2.8B+71%1
FY 20303.65$3.7B+32%1
Q1 2027-0.43$78.4M-2
Source: FMP · Consensus
Company events
62027-03-26EarningsActual - / Estimate -0.419-
2027-03-01EarningsActual - / Estimate -0.36-
2026-11-09Earnings · After market closeActual -0.44 / Estimate -0.404Miss
2026-08-10Earnings · After market closeActual -0.77 / Estimate -0.315Miss
2026-05-11EarningsActual -0.66 / Estimate -0.255Miss
2026-03-02EarningsActual -0.26 / Estimate -0.18Miss
Peer comparison
Similar listed perpsRevenue mix
Latest annualProductProduct$44.4M
ServiceProduct$26.5M
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $74.84 |
| 12-month target range (low – high) | $43 – $106 |
| Ratings in the provider's consensus | 8 |
Price targets as of 2026-11-13
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 1 | 4 | 6 | 1 | 1 |
| Oct 2026 | 1 | 4 | 7 | 1 | 1 |
| Sep 2026 | 1 | 4 | 7 | 1 | 1 |
| Aug 2026 | 1 | 3 | 7 | 1 | 1 |
| Jul 2026 | 1 | 3 | 7 | 1 | 2 |
| Jun 2026 | 0 | 2 | 7 | 0 | 2 |
| May 2026 | 0 | 3 | 7 | 0 | 2 |
| Apr 2026 | 0 | 3 | 5 | 0 | 2 |
| Mar 2026 | 0 | 3 | 5 | 0 | 2 |
| Feb 2026 | 0 | 3 | 5 | 0 | 2 |
| Jan 2026 | 0 | 4 | 5 | 0 | 2 |
| Dec 2025 | 0 | 4 | 5 | 0 | 1 |
Ownership
Institutional · 2025-Q4Free float91.3%273.6M shares
Shares outstanding299.8M shares
Institutional58.8%625 investors
Investor count change+162
Reference market activity
ASTS-PERPDay range (Nov 12)$34.46$36.46
52 week$27.58$133.86
Spot volume9.9M
Average volume-
Price performance
111D-5.8%
5D+13.0%
1M-26.7%
3M-51.8%
6M-53.9%
YTD-52.5%
1Y-43.8%
3Y+762.5%
5Y+175.6%
10Y+253.1%
MAX+253.1%
Insider activity
FY2026 Q4Acquisitions0 transactions0 shares
Dispositions1 transactions3,935 shares
Purchases0Ratio 0
Sales0
Insider transactions
25DateReporting persontransactionssharesPriceFilings
AST SpaceMobile officer Bernal Maya reported 3,935 Class A shares withheld for taxes at $40.66 each, leaving 128,514 shares owned.
AST SpaceMobile officer Thorsen Wayne received an award of 200,000 Class A common shares (code A, no purchase) on 2026-09-28, bringing holdings to 200,000 shares after.
AST SpaceMobile officer Wayne Thorsen filed a Form 3 on 2026-10-01, reporting no shares acquired or held in an initial statement of beneficial ownership.
AST SpaceMobile officer Yao Huiwen sold 40,000 Class A shares at $58.93 on Sept 16, 2026, leaving 34,750 shares owned.
AST SpaceMobile COO Shanti B. Gupta sold 12,000 Class A common shares at $58.89 on Sep 16, 2026, leaving 462,980 shares held.
Director Cisneros Adriana reported buying 10,822 Class A common shares in three open-market transactions on August 31, 2026, at prices between $57 and $58.87.
AST SpaceMobile officer Christopher Edward Turco received an award of 200,000 shares of Class A Common Stock on 2026-08-17 at $0.00, an A-Award grant of compensation, not an open-market purchase. He held 200,500 shares afterward.
On 2026-08-19, CTO Yao Huiwen exercised options to acquire 40,000 Class A common shares at $0.0641 each, converting the same number of AST LLC incentive equity options.
Insider Abel Antonio Avellan, CEO and director of AST SpaceMobile, received an award of 150,000 Class A Common Stock shares (price $0.00) on 2026-08-17, now holding 78,692,209 shares.
Officer Bernal Maya received an award of 20,000 Class A common shares of AST SpaceMobile at no cost.
CFO and CLO Andrew Johnson received a grant of 75,000 Class A common shares of AST SpaceMobile, now holding 556,484 shares.
Shanti B. Gupta, COO of AST SpaceMobile, received an award of 75,000 Class A Common Stock shares at no cost.
President Scott Wisniewski received an award of 75,000 Class A shares of AST SpaceMobile on August 17, 2026, at no cost, increasing his holdings to 782,443 shares.
On August 17, 2026, a 200,000-share Class A Common Stock award was granted to an officer; post-transaction ownership totaled 200,500 shares.
On August 15, 2026, COO Shanti B. Gupta disposed of 12,767 shares of Class A Common Stock in a tax withholding transaction at $70.98 per share, leaving 399,980 shares owned.
On 2026-08-15, CFO and CLO Andrew Johnson disposed of 22,135 Class A common shares in two tax-withholding transactions at $70.98 each, reducing his holdings to 481,484 shares.
On 2026-08-15, Bernal Maya, Chief Accounting Officer of AST SpaceMobile, disposed of 2,919 Class A common shares in a tax withholding transaction (code F) at $70.98 per share, and now directly owns 112,449 shares.
On 2026-08-15, President Scott Wisniewski of AST SpaceMobile had 22,135 shares of Class A Common Stock withheld to cover tax obligations, leaving him with 707,443 shares.
This Form 3 filing discloses Christopher Edward Turco's initial beneficial ownership of 500 shares of AST SpaceMobile Class A Common Stock, with no shares acquired in the reported transaction.
In an amended Form 4/A, AST SpaceMobile President Scott Wisniewski had 16,395 Class A shares withheld to cover taxes at $113.41 per share on 2026-05-30, leaving 729,578 shares owned afterward.
Filings
61 · Latest SEC filings2026-10-194Insider transaction report (Form 4)
AST SpaceMobile officer Bernal Maya reported 3,935 Class A shares withheld for taxes at $40.66 each, leaving 128,514 shares owned.
2026-10-014Insider transaction report (Form 4)
AST SpaceMobile officer Thorsen Wayne received an award of 200,000 Class A common shares (code A, no purchase) on 2026-09-28, bringing holdings to 200,000 shares after.
2026-10-013Initial insider ownership statement (Form 3)
AST SpaceMobile officer Wayne Thorsen filed a Form 3 on 2026-10-01, reporting no shares acquired or held in an initial statement of beneficial ownership.
2026-09-174Insider transaction report (Form 4)
AST SpaceMobile officer Yao Huiwen sold 40,000 Class A shares at $58.93 on Sept 16, 2026, leaving 34,750 shares owned.
2026-09-174Insider transaction report (Form 4)
AST SpaceMobile COO Shanti B. Gupta sold 12,000 Class A common shares at $58.89 on Sep 16, 2026, leaving 462,980 shares held.
2026-09-014Insider transaction report (Form 4)
Director Cisneros Adriana reported buying 10,822 Class A common shares in three open-market transactions on August 31, 2026, at prices between $57 and $58.87.
2026-08-244/AInsider transaction report (Form 4)
AST SpaceMobile officer Christopher Edward Turco received an award of 200,000 shares of Class A Common Stock on 2026-08-17 at $0.00, an A-Award grant of compensation, not an open-market purchase. He held 200,500 shares afterward.
2026-08-194Insider transaction report (Form 4)
On August 17, 2026, a 200,000-share Class A Common Stock award was granted to an officer; post-transaction ownership totaled 200,500 shares.
2026-08-194Insider transaction report (Form 4)
Insider Abel Antonio Avellan, CEO and director of AST SpaceMobile, received an award of 150,000 Class A Common Stock shares (price $0.00) on 2026-08-17, now holding 78,692,209 shares.
2026-08-194Insider transaction report (Form 4)
Officer Bernal Maya received an award of 20,000 Class A common shares of AST SpaceMobile at no cost.
2026-08-194Insider transaction report (Form 4)
President Scott Wisniewski received an award of 75,000 Class A shares of AST SpaceMobile on August 17, 2026, at no cost, increasing his holdings to 782,443 shares.
2026-08-194Insider transaction report (Form 4)
On 2026-08-19, CTO Yao Huiwen exercised options to acquire 40,000 Class A common shares at $0.0641 each, converting the same number of AST LLC incentive equity options.
2026-08-194Insider transaction report (Form 4)
CFO and CLO Andrew Johnson received a grant of 75,000 Class A common shares of AST SpaceMobile, now holding 556,484 shares.
2026-08-194Insider transaction report (Form 4)
Shanti B. Gupta, COO of AST SpaceMobile, received an award of 75,000 Class A Common Stock shares at no cost.
2026-08-184Insider transaction report (Form 4)
On 2026-08-15, Bernal Maya, Chief Accounting Officer of AST SpaceMobile, disposed of 2,919 Class A common shares in a tax withholding transaction (code F) at $70.98 per share, and now directly owns 112,449 shares.
2026-08-184Insider transaction report (Form 4)
On August 15, 2026, COO Shanti B. Gupta disposed of 12,767 shares of Class A Common Stock in a tax withholding transaction at $70.98 per share, leaving 399,980 shares owned.
2026-08-184Insider transaction report (Form 4)
On 2026-08-15, CFO and CLO Andrew Johnson disposed of 22,135 Class A common shares in two tax-withholding transactions at $70.98 each, reducing his holdings to 481,484 shares.
2026-08-184Insider transaction report (Form 4)
On 2026-08-15, President Scott Wisniewski of AST SpaceMobile had 22,135 shares of Class A Common Stock withheld to cover tax obligations, leaving him with 707,443 shares.
2026-07-243Initial insider ownership statement (Form 3)
This Form 3 filing discloses Christopher Edward Turco's initial beneficial ownership of 500 shares of AST SpaceMobile Class A Common Stock, with no shares acquired in the reported transaction.
2026-07-024/AInsider transaction report (Form 4)
In an amended Form 4/A, AST SpaceMobile President Scott Wisniewski had 16,395 Class A shares withheld to cover taxes at $113.41 per share on 2026-05-30, leaving 729,578 shares owned afterward.
2026-06-234Insider transaction report (Form 4)
AST SpaceMobile CEO Abel Avellan reported acquiring a forward contract covering 2,500,000 shares that obligates him to sell those shares, with 2,500,000 shares now held under this contract.
2026-06-164Insider transaction report (Form 4)
Director Richard Sarnoff was awarded 2,124 shares of AST SpaceMobile Class A common stock (compensation grant, not an open-market purchase), bringing his total holdings to 80,363 shares.
2026-06-164Insider transaction report (Form 4)
Director Adriana Cisneros was awarded 2,124 shares of Class A common stock on 2026-06-12, bringing her total ownership to 786,201 shares.
2026-06-164Insider transaction report (Form 4)
Director Ronald L. Rubin was awarded 2,124 shares of Class A Common Stock on 2026-06-12, bringing his total ownership to 73,363 shares.
2026-06-164Insider transaction report (Form 4)
Director Johan Wibergh received a grant of 2,124 Class A shares of AST SpaceMobile on 2026-06-12, bringing his holdings to 7,527 shares. This was a compensation award, not an open-market purchase.
2026-06-164Insider transaction report (Form 4)
Director Julio A. Torres was awarded 2,124 Class A shares on 2026-06-12 as compensation, bringing his total holdings to 45,363 shares.
2026-06-124Insider transaction report (Form 4)
Andrew Martin Johnson (CFO & CLO) sold 45,809 Class A shares at $93.81 on 2026-06-11, leaving 503,619 shares owned afterward.
2026-06-094Insider transaction report (Form 4)
AST SpaceMobile director Johan Wibergh had 208 Class A shares withheld to cover taxes on 2026-06-06 at $93.60/share, leaving 28,793 shares owned afterward.
2026-06-084Insider transaction report (Form 4)
AST SpaceMobile CTO Yao Huiwen sold 40,000 Class A shares on 2026-06-05 at $96.37 per share, leaving 34,750 shares owned afterward.
2026-06-024Insider transaction report (Form 4)
AST SpaceMobile COO Shanti Gupta had 21,275 Class A shares withheld to cover taxes at $113.41 on 5/30/2026, leaving 412,747 shares owned. This was a tax-withholding transaction, not an open-market trade.
2026-06-024Insider transaction report (Form 4)
AST SpaceMobile CEO Abel Avellan had 32,754 Class A shares withheld to cover taxes at $113.41 per share, leaving 78,542,209 shares owned.
2026-06-024Insider transaction report (Form 4)
AST SpaceMobile's Chief Accounting Officer Bernal Maya had 2,621 Class A shares withheld to cover taxes at $113.41 on May 30, 2026, leaving 115,368 shares owned.
2026-06-024Insider transaction report (Form 4)
AST SpaceMobile President Scott Wisniewski had 16,377 Class A shares withheld to cover taxes on 2026-05-30 at $113.41 per share, leaving 729,596 shares owned afterward.
2026-06-024Insider transaction report (Form 4)
AST SpaceMobile CFO/CLO Andrew Martin Johnson had 16,377 Class A shares withheld to cover taxes at $113.41 on 2026-05-30, leaving 549,428 shares owned.
2026-05-274Insider transaction report (Form 4)
AST SpaceMobile President Scott Wisniewski sold 25,904 Class A shares at $126.64, leaving 745,973 shares owned afterward.
2026-05-264Insider transaction report (Form 4)
AST SpaceMobile CTO Yao Huiwen was granted 30,000 Class A shares (an award, not a purchase) on 2026-05-22, bringing his ownership to 74,750 shares.
2026-05-214Insider transaction report (Form 4)
AST SpaceMobile CFO/CLO Andrew Martin Johnson sold 5,000 Class A shares at $90.25 on 2026-05-20, leaving 565,805 shares owned afterward.
2026-05-204Insider transaction report (Form 4)
AST SpaceMobile COO Shanti B. Gupta was awarded 66,667 Class A shares as compensation. Separately, 11,350 shares were withheld to cover taxes at $86.83 each, leaving 434,022 shares owned afterward.
2026-05-204Insider transaction report (Form 4)
CTO Yao Huiwen exercised options to convert 40,000 AST LLC Incentive Equity Options into 40,000 Class A common shares at a $0.0641 strike price, leaving 44,750 common shares owned afterward.
2026-05-144Insider transaction report (Form 4)
Director Julio A. Torres sold 15,000 shares of AST SpaceMobile Class A common stock at $76.34 on 2026-05-13, leaving 43,239 shares owned afterward.
2026-05-074Insider transaction report (Form 4)
CFO/CLO Andrew Martin Johnson had 29,513 shares of Class A common stock withheld to cover taxes at $70.68 per share, leaving 570,805 shares owned afterward.
Transcripts
Earnings callsFY2026 Q12026-05-11
Earnings calls
AI summary
positiveAST SpaceMobile executed on commercialization priorities in Q1 2026, achieving $14.7 million in revenue from government contracts and commercial gateway deliveries. The company demonstrated 98.9 Mbps peak download speeds on unmodified smartphones and secured contracts with new MNO partners including TELUS and Axiom Telecom. With $3.5 billion in cash and Bluebirds 11-33 in advanced assembly stages, AST remains on track to deploy approximately 45 satellites by year-end and reach $150-200 million in 2026 revenue.
Key takeaways
- Achieved 98.9 Mbps peak download speeds on international waters using Block 1 satellites, expecting to nearly double this with BB8, BB9, BB10 launches
- Secured $1.2 billion in contracted revenue commitments from commercial partners including AT&T, Verizon, Vodafone, Rakuten, STC, Bell Canada and Telus
- Targeting approximately 45 Bluebird satellites in orbit by end of 2026 with multi-provider launch strategy featuring SpaceX, Blue Origin and others
- Expanded ecosystem to nearly 60 global MNO partners covering over 3 billion subscribers across 16+ countries targeting 2.9 billion population coverage
- Received FCC authorization for commercial Bluebird constellation operation in U.S. on premium low-band spectrum in coordination with Verizon, AT&T and FirstNet
Financial highlights
- Q1 2026 reported revenue of $14.7 million, driven by government contract milestones and commercial gateway deliveries
- Non-GAAP adjusted operating expenses of $91.2 million in Q1 versus $95.7 million in Q4 2025
- Capital expenditures of $257 million in Q1 2026 versus $407 million in Q4 2025, below $350-425 million guidance due to launch payment timing shifts
- Cash, cash equivalents and restricted cash of approximately $3.5 billion as of March 31, 2026, inclusive of February convertible notes offering at 2.25% coupon with $116.30 effective strike price
Guidance
- Reiterating 2026 full-year revenue guidance of $150-200 million, supported by existing contracted pipeline with upside from new government awards
- Q2 2026 adjusted operating expenses (excluding cost of revenues) estimated at $85-95 million and capital expenditures estimated at $575-650 million, reflecting launch payment timing
- Expecting 2027 revenue opportunity approaching $1 billion driven by scaled constellation deployment for cellular broadband service and accelerated U.S. government use cases
- Average capital cost per Block II Bluebird satellite estimated at $21-23 million for constellation of over 90 satellites, excluding initial validation satellites
Q&A themes
- Bluebird 7 loss assessed and recovery plan optimistic for Blue Origin; multi-launch provider strategy insulates against single-provider risk
- Stacking capability mature at 3 satellites per Falcon 9, planning 4-stack on next New Glenn with ramp to 8-stack; Vulcan/ULA integration underway as backup capacity
- AI edge computing and AI spectrum management features targeting integration into next-generation Bluebird satellites by year-end to dynamically allocate resources across 1,100 MHz tunable spectrum range
- Government noncommunications capabilities use existing satellite hardware without requiring mid-band spectrum; development spans years with customers using capabilities today
Risks
- Bluebird 7 launch anomaly with Blue Origin demonstrates execution risk; reliance on multiple launch providers provides mitigation but timeline impact possible
- Revenue recognition subject to contingencies including successful Block II Bluebird launch/deployment, contractual milestone achievements, gateway equipment sales timing and service activation with MNOs
- Manufacturing cost estimates subject to fluctuation based on dynamic geopolitical factors; quarterly revenue variability significant due to milestone timing and customer activity scheduling
FY2025 Q42026-03-02
Earnings calls
AI summary
positiveAST SpaceMobile achieved $70.9M revenue in 2025 (top end of guidance) and secured over $1.2B in contracted minimum committed revenue from MNO partners including Verizon and stc Group. The company successfully launched its largest-ever BlueBird 6 satellite (2,400 sq ft) and expects to deploy 45-60 satellites in 2026 with commercial service activation in the second half of the year. With $3.9B in pro forma cash and a fortified balance sheet, management projects 2026 revenue of $150-200M and sees a potential $1B+ annual revenue opportunity in 2027.
Key takeaways
- Achieved $70.9M revenue in 2025 from gateway deliveries and government contracts; now revenue-generating with over $1.2B contracted backlog
- Successfully deployed BlueBird 6 satellite (3.5x larger than previous Block 1, 10x capacity); BlueBird 7 ready for March 2026 launch on New Glenn vehicle
- Manufacturing capacity reached 6 satellites/month in 2025 with 29 Block 2 satellites in production; targeting 40 satellite assembly completion in H1 2026
- Signed definitive agreements with Verizon and stc Group ($175M prepayment) plus partnerships with Orange, Telefonica, CK Hutchison, Taiwan Mobile, and Vodafone
- Targeting 45-60 satellites in orbit by end of 2026 with commercial service activation in second half; launches planned every 1-2 months on multiple vehicles including New Glenn
Financial highlights
- 2025 revenue: $70.9M (at top end of $50-75M guidance); Q4 2025 revenue: $54.3M from gateway sales and government milestones
- 2026 guidance: Revenue of $150-200M, with approximately half of commercial pipeline already booked or contracted
- Pro forma cash position: $3.9B (including February 2026 convertible notes offering); raised $2.2B net from two convertible offerings in Oct 2025 and Feb 2026
- Q4 2025 capex: $407M; Q1 2026 guidance: $350-425M capex and $70-80M adjusted operating expenses (excluding cost of revenues)
Guidance
- 2026 revenue expected to at least double versus 2025 (targeting $150-200M); revenue projected to grow meaningfully with gateway deliveries, government milestones, and initial commercial service revenue in H2 2026
- Planning 45-60 total satellite launches in 2026 with 45 in orbit and 60 ready to ship; launches every 1-2 months starting March 2026
- 2027 revenue goal: Approaching $1B in annual revenue from both commercial and government services, subject to achievement of commercial and government service objectives
- Expect New Glenn launches with previously flown first stages reused every 30 days or less; 12 additional contracted launches across multiple vehicles; constellation deployment of approximately 90-100+ Block 2 BlueBird satellites
Q&A themes
- BlueBlrd 6 and 7 deployment learnings will accelerate future satellite production; stacking capability (3, 4, 6, or 8 satellites per launch) enables meet 2026 cadence targets
- Mid-band constellation launch planned by end of 2026 using L and S-band spectrum combined with IMT spectrum; will support data rates exceeding 120 Mbps current Block 1 capability
- Additional commercial opportunities identified in radar, power generation, spectrum multiplier via AI, geolocation, and on-orbit compute; February convertible raise provides flexibility for spectrum acceleration, AI monetization, and government space investments
- Initial commercial service launch will offer variable data rates based on allocated spectrum (3-4 bits/hertz); peak rates scale with more spectrum allocation and future mid-band integration
Risks
- Revenue plan contingent on successful launch and deployment of Block 2 satellites, contractual milestone achievements, gateway equipment sales, and commercial service activation with MNO partners
- Capital expenditures and operating expenses subject to timing delays and fluctuations from geopolitical factors impacting satellite production costs; quarterly revenue variability likely due to milestone timing and customer activities
- Commercial service launch and government contract awards remain subject to regulatory approvals, launch vehicle availability, and partner readiness
FY2025 Q32025-11-10
Earnings calls
AI summary
positiveAST SpaceMobile achieved significant commercial momentum in Q3 2025 by signing definitive agreements with Verizon and Saudi Telecom Group (STC), bringing total contracted revenue commitments to over $1 billion from 50+ MNO partners covering nearly 3 billion subscribers. The company strengthened its balance sheet to $3.2 billion in cash and liquidity, enabling funding for a 100+ satellite constellation, while maintaining manufacturing pace of six satellites per month with first launches expected in December 2025. Revenue ramp began with $14.7 million recognized in Q3, driven by gateway equipment sales and U.S. Government milestones.
Key takeaways
- Secured definitive commercial agreements with Verizon (U.S.) and Saudi Telecom Group (Middle East/North Africa) plus $175 million prepayment from STC by end of 2025
- Disclosed $1 billion+ in aggregate contracted revenue commitments from commercial partners, demonstrating validation of business model and market opportunity
- Manufacturing on schedule: 40 satellites by early 2026 at six-per-month cadence; five launches planned by end of Q1 2026 to reach 45-60 satellites by end of 2026
- Fully funded for 100+ satellite constellation with $3.2 billion pro forma cash and liquidity; completed third convertible note offering ($1.6 billion net proceeds at 2% coupon, 10-year term)
- Q3 revenue grew to $14.7 million; reiterating H2 2025 revenue guidance of $50-75 million with continued growth expected in Q4
Financial highlights
- Q3 2025 revenue: $14.7 million (versus $2 million in Q2), primarily from gateway equipment sales and U.S. Government milestone achievements
- H2 2025 revenue guidance: $50-75 million (reaffirmed)
- Q3 non-GAAP adjusted operating expenses: $67.7 million (versus $51.7 million in Q2); Q4 2025 guidance: mid-$60 million range excluding cost of goods sold
- Q3 capital expenditures: $259 million (versus $323 million in prior quarter); Q4 2025 guidance: $275-325 million; estimated constellation cost per satellite: $21-23 million
Guidance
- H2 2025 revenue: $50-75 million (reaffirmed); Q4 revenue driven by gateway equipment sales, U.S. Government milestones, and initial commercial service revenue
- Five orbital launches planned by end of Q1 2026 with 45-60 satellites launched by end of 2026; manufacturing cadence of six satellites per month exiting 2025
- Service activation: fixed network locations already begun; nationwide intermittent service expected early 2026 with continued scaling; continuous service anticipated later in 2026 with Verizon and AT&T
- Q4 2025 adjusted operating expenses: mid-$60 million range; CapEx range: $275-325 million; cost per satellite remains $21-23 million
Q&A themes
- Block 2 FPGA satellites deliver 10 GHz processing capacity (10x improvement over current BlueWalker 3 at 1 GHz); AST-5000 ASIC chip with AI spectrum management engine multiplies effective capacity and efficiency across 10 GHz bandwidth
- Definitive agreements with Verizon and STC part of rolling strategy to deepen relationships with top 50+ MNO partners; prepayments fund near-term services while commitments extend medium to long-term (5-10 years); strategy unchanged despite capital markets access
- EU satellite constellation for SATCO joint venture with Vodafone is incremental to 45-60 satellite plan; MOUs signed in 21 of 27 EU member states; company well-positioned for potential opportunities like Iris Squared but not commenting on new contracts
- Manufacturing focus remains domestic (Texas-based, 1,800 employees); global operations through local MNO partnerships using 3GPP spectrum in devices; incremental spectrum costs minimal due to software-defined network design tuning across low/mid-band frequencies
Risks
- Revenue ramp contingent on successful launch and deployment of Block 2 satellites, gateway equipment sales to MNO partners, and service activation milestones; no assurance all objectives will be achieved
- Launch timeline compressed with delays earlier in year; confidence in five launches by Q1 2026 and 45-60 satellites by end of 2026 stated but execution risks remain on manufacturing and launch vehicle availability
- CapEx and OpEx subject to fluctuation based on dynamic geopolitical factors affecting launch costs and spectrum acquisition; timing of commercial revenue and government contract awards uncertain pending FCC approvals and final contract negotiations
FY2025 Q22025-08-11
Earnings calls
AI summary
positiveAST SpaceMobile reported strong operational progress in Q2 2025, with eight Block 2 BlueBird satellites assembled, plans for 45-60 satellites to enable continuous U.S. service by end-2025, and 90 satellites for global coverage. The company raised approximately $1.5 billion in pro forma liquidity and acquired 60 MHz of global S-Band spectrum rights. Revenue guidance of $50-75 million for H2 2025 reflects expectations from gateway equipment sales, government contracts, and commercial service activation.
Key takeaways
- Eight Block 2 BlueBird satellites assembled with plans to ship FM1 in August; targeting six satellites per month production cadence with 40 satellite equivalents completed by early 2026
- Pro forma cash position of $1.5 billion provides full funding through 45-60 satellite constellation; 25 satellites expected to enable positive operational cash flow
- Acquired global S-Band spectrum priority rights (60 MHz) complementing L-Band spectrum strategy to offer full broadband experience across multiple spectrum bands worldwide
- Eight U.S. government contracts awarded with demonstrated tactical NTN connectivity; government revenue expected to ramp significantly in coming quarters with program-of-record opportunities cited as north of $100 million
- Targeting nationwide intermittent service in U.S. by end-2025, followed by UK, Japan, and Canada in Q1 2026; over 50 MNO partners with 3 billion subscribers globally
Financial highlights
- Q2 2025 non-GAAP adjusted operating expenses of $51.7 million versus $44.9 million in Q1 2025; adjusted to $46.5 million excluding transaction expenses
- Q2 2025 capital expenditures of $323 million (versus $124 million in Q1) comprising $298 million in capitalized satellite materials and launch payments; guidance for Q3 CapEx of $225-300 million
- Cost per Block 2 BlueBird satellite estimated at $21-23 million including materials and launch costs, consistent with prior guidance
- Gateway equipment bookings of $14.9 million in Q2 2025 with quarterly bookings of approximately $10 million expected in H2 2025; revenue recognition tied to installation and milestones
Guidance
- H2 2025 revenue opportunity of $50-75 million from gateway equipment sales, government contract milestones, and commercial service activation
- Five orbital launches expected by end of Q1 2026 with launches every 45-60 days on average; 45-60 satellites planned for continuous coverage in key markets by end-2026
- Q3 2025 adjusted operating expenses estimated at approximately $50 million (excluding transaction expenses) as company onboards employees and augments R&D for mid-band development
- 25 BlueBird satellites expected to enable positive operational cash flow generation to support remaining constellation buildup
Q&A themes
- Revenue share remains 50-50 with MNO partners bringing spectrum and customers; company brings network infrastructure; spectrum acquisition enhances but does not alter fundamental partnership economics
- Ligado L-Band transaction closing path includes FCC approval expected in 2026; nonrecourse SPV financing in place with bridge financing being arranged; initial filings expected in coming months
- Government applications span both communications and non-communications use cases already in use on operational satellites; multiple branches of U.S. Armed Forces testing current constellation with incremental opportunities and larger budget allocations
- FM1 launch not on critical path for subsequent launches; other satellites expected within weeks; company not conditioning launches on FM1 testing results
Risks
- Revenue achievement contingent on successful launch and deployment of Block 2 satellites, government contractual milestone achievements, gateway equipment sales, and commercial service activation with no assurances provided
- Ligado transaction dependent on FCC approval timing (expected 2026 event); funding arrangement relies on bridge financing pending regulatory clearance and deferred usage payments will become ongoing operating costs
- Capital expenditure guidance subject to dynamic geopolitical factors impacting costs; cost per satellite estimates may fluctuate based on tariff environment and supply chain volatility
FY2025 Q12025-05-12
Earnings calls
FY2024 Q42025-03-04
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.Company data
Company intelligence
Updated: Nov 13, 2026, 01:33 PM UTC
Company data
Company intelligence
Company profile
- Sector
- Communication Services
- Industry
- Telecommunications Services
- Chief executive
- Abel Avellan
- Employees
- 1,126
- IPO date
- Nov 1, 2019
- Country
- US
- Exchange
- NASDAQ Global Select
Altman Z-scorei3.9
Piotroski scorei3/9
Overall ratingiD+
Owner earningsi-$46.19M-$0.15 per share
ESG risk ratingiBIndustry rank: 55/92
Rating factors
- Return on equityi
- 1/5
- Return on assetsi
- 1/5
- Debt to equityi
- 1/5
- Price to earningsi
- 1/5
- Price to booki
- 1/5
Company press releases
ASTS Investors Have Opportunity to Lead AST SpaceMobile, Inc. Securities Fraud Lawsuit with SBS LawGlobeNewsWireROSEN, TRUSTED INVESTOR COUNSEL, Encourages AST SpaceMobile, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - ASTSNewsfile CorpASTS Investors with Losses in Excess of $100K Have Opportunity to Lead AST SpaceMobile, Inc. Securities Fraud LawsuitPRNewsWireBronstein, Gewirtz & Grossman LLC Urges AST SpaceMobile, Inc. Investors to Act: Class Action Filed Alleging Investor HarmPRNewsWireASTS INVESTOR ALERT: AST SpaceMobile, Inc. Investors With Substantial Losses May Seek to Lead Class Action Lawsuit, Robbins Geller Rudman & Dowd LLP AnnouncesPRNewsWireINVESTOR ALERT: AST SpaceMobile, Inc. (NASDAQ: ASTS) Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit and Should Contact Kessler Topaz Meltzer & Check, LLPPRNewsWire
Market cap history
$14.10B-51.6%Aug 2026 – Nov 2026
Latest: $14.10B · 2026-11-12High: $29.13B · 2026-08-13Low: $14.10B · 2026-11-12
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.02% | 9M |
| ANNPX | 0.27% | 4.8M |
| VB | 0.1% | 3.3M |
| VO | 0.08% | 3.1M |
| VXF | 0.18% | 3M |
| VUG | 0.03% | 2.2M |
| JEDG.L | 7.06% | 2M |
| VBK | 0.24% | 1.9M |
| ACV | 0.67% | 1.8M |
| IWP | 0.42% | 1.4M |
| NIW | 0.7% | 1.3M |
| FSMAX | 0.19% | 1.3M |
Analyst track record
How the analysts covering ASTS have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 69 | 150 |
| Analysts | 14 | 15 |
| Buy / hold / sell | 26 / 33 / 10 | 86 / 52 / 12 |
| Upgrades / downgrades / initiations | 5 / 5 / 3 | 5 / 9 / 10 |
| Price targets hit / missed | 0 / 57 (0%) | 22 / 110 (17%) |
| Avg. return after a rating (TipRanks) | -51.9% | -9.3% |
| Best / worst call | -16.3% / -75.2% | +366.2% / -75.2% |
After buy calls on this stock: median 21-day move +2.2% vs S&P 500 +0.9% (n = 81)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Andres CoelloScotiabank97% hit rate on this stock · 30 targets measuredBuytarget $55.70Nov 9, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 10, 2026 | Chris SchoellUBSNov 10, 2026 | HoldReiterated | $43.00↗ | article ↗ |
| Nov 10, 2026 | Mike CrawfordB. Riley SecuritiesNov 10, 2026 | HoldMaintained | $48.00↗ | article ↗ |
| Nov 9, 2026 | Michael FunkBank of America SecuritiesNov 9, 2026 | HoldReiterated | $45.00↗ | article ↗ |
| Nov 9, 2026 | Andres CoelloScotiabankNov 9, 2026 | BuyMaintained | $55.70↗ | article ↗ |
| Nov 8, 2026 | Colin CanfieldCantor FitzgeraldNov 8, 2026 | BuyMaintained | $90.00↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 69 ratings
Frequently asked questions
Where can I trade ASTS perpetual futures?
AST SpaceMobile, Inc. (ASTS) perpetual futures trade on 20 crypto venues, including Deepcoin, Binance, XT.com. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade ASTS around the clock?
Yes. Unlike the underlying stock, ASTS perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on ASTS perpetuals?
Right now the ASTS perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to 0.0% across 20 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the ASTS perp price compare to the AST SpaceMobile, Inc. stock?
The venue-median ASTS perp mark is $31.7 versus a reference stock price of $31.7, a basis of +0.1%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.
What is a ASTS perpetual future?
A ASTS perpetual is a derivative that tracks the price of AST SpaceMobile, Inc. with no expiry date. It lets you take long or short exposure to AST SpaceMobile, Inc. on crypto venues, around the clock.
What is ASTSUSDT perpetual?
ASTSUSDT is the symbol most crypto exchanges use for the AST SpaceMobile, Inc. perpetual settled in USDT (Tether). It tracks the ASTS share price through an index, trades 24/7 with leverage and never expires.
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