AST SpaceMobile, Inc. (ASTS) financials
NASDAQ · Communication Services · Telecommunications Services · 1,126 employees · CEO Abel Avellan
- Price
- $40.97 -4.88%
- Market cap
- $16.7B
- Enterprise value
- $17.4B
- Last report
- Q2 '26 filed 2026-08-10
- Next report
- 2026-11-09 EPS est. -$0.42
Revenue (TTM)$115M+2,256.9% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-519.5%+4,623.0 pp vs a year agoOperating income -$599M
Net income (TTM)-$619M-75.3% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$1.64B-142.0% vs a year agoCapex $1.49B
Diluted EPS (TTM)-$2.16-14.3% vs a year agoSum of the last 4 quarters
Net cash-$705M-268.8% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $16.7B EV $17.4B
- Revenue
- $115M Trailing 12 months
- Revenue growth
- – Next fiscal year
- Profit margin
- -536.7% Net income / revenue, TTM
- P/E
- -19.0×
- P/S
- 145.1× Price / sales, TTM
- EV / EBITDA
- -25.7× TTM
- Free cash flow
- -$1.64B Trailing 12 months
- Net income
- -$619M Trailing 12 months
- Revenue estimate
- – Next fiscal year
- Earnings
- 2026-11-09 Revenue est. $45.7M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-10): revenue missed by 8.7%, EPS missed by 144.4%Revenue $31.5M vs $34.5M expected (-8.7%); EPS -$0.77 vs -$0.32 (-144.4%).
- Revenue growth accelerating: 2,626.6% year on yearQ2 '26 revenue $31.5M, against an average of 1,488.0% over the four quarters before.
- Operating margin -519.5% (TTM), +4,623.0 pp on a year agoOperating income grew -138.1% while revenue grew 2,256.9%.
- Capex 1,295.2% of revenue (a year ago 11,099.3%)$1.49B invested in the last 4 quarters (+175.0% on a year earlier). Free cash flow -$1.64B.
- Diluted share count up 23.6% in a year299M diluted shares in Q2 '26, 242M a year earlier.
- Net debt $705MCash + short-term investments $2.29B, debt incl. leases $2.99B; a year ago net cash $418M.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $31.5M | $1.16M | +2,626.6% |
| Gross margin | 25.2% | 100.0% | -74.8 pp |
| Operating income | -$298M | -$72.8M | -308.8% |
| Operating margin | -944.1% | -6,297.3% | +5,353.2 pp |
| Net income | -$231M | -$99.4M | -132.3% |
| Diluted EPS | -$0.77 | -$0.41 | -87.8% |
| Operating cash flow | -$97.2M | -$43.5M | -123.5% |
| Capex | $598M | $310M | +92.7% |
| Free cash flow | -$695M | -$354M | -96.5% |
| R&D | $7.77M | $35M | -77.8% |
| Stock-based compensation | $63.5M | $10.5M | +503.0% |
Reported vs consensus
2026-08-10| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $31.5M | $34.5M | -8.7% |
| EPS (as estimated) | -$0.77 | -$0.32 | -144.4% |
From the report of 2026-08-10 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Product | $24.4M | – | 77.5% | – | – | |
| Service | $7.09M | – | 22.5% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- -$145M
- Capex
- -$1.49B
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- $0
- Net debt issued
- $3.18B
- Stock-based compensation
- $148M
- Free cash flow
- -$1.64B
- Returned to shareholders / FCF
- 0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -19.0× | – | – |
| EV / EBITDA | -25.7× | – | – |
| EV / Sales | 151.2× | 325.4× 4 of 5 years | 9.5× – 916.3× |
| Price / FCF | -10.2× | – | – |
| Price / Book | 6.5× | 5.6× | 2.0× – 10.1× |
| FCF yield | -9.8% | -36.8% | -81.5% – -6.1% |
| Return on invested capital | -10.6% | -31.8% | -70.3% – -5.9% |
| Return on equity | -35.1% | -44.8% | -88.5% – -18.6% |
Analysts
Consensus target $82.41 (+101.1%)
range $54.00 – $108.00 · rating Buy
Strong buy0
Buy4
Hold3
Sell1
Strong sell0
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 230 figures AST SpaceMobile, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable and Other Accrued Liabilities, Current | $103M | $42.7M | +141.8% | $69.2M | $12.2M | +467.8% |
| Accounts Payable, Current | $60.6M | $22.7M | +167.0% | $46.8M | $17M | +175.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $79.3M | – | – | $37.7M | $1.4M | +2,594.7% |
| Accrued Liabilities, Current | $26.5M | $8.49M | +212.5% | $12.7M | $296K | +4,202.0% |
| Accrued Professional Fees, Current | $15.5M | $6.65M | +132.6% | $6.44M | $1.76M | +264.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $212M | $145M | +45.8% | $174M | $122M | +42.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $1.53M | $1.11M | +38.3% | $1.35M | -$176K | +867.6% |
| Additional Paid in Capital | $3.15B | $1.5B | +109.6% | $2.67B | $969M | +175.7% |
| Adjustments to Additional Paid in Capital, Warrant Issued | $0 | – | – | $102M | $411M | -75.2% |
| Amortization of Debt Issuance Costs | $2.1M | $400K | +425.0% | $2.73M | $3.73M | -26.9% |
| Amortization of Other Deferred Charges | $2.2M | – | – | $4M | – | – |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | – | 21.8M | 25.7M | -15.4% |
| AssetAcquisitionConsiderationTransferred | – | – | – | $42.9M | – | – |
| AssetAcquisitionConsiderationTransferredTransactionCost | – | – | – | $1.8M | – | – |
| Assets | $5.85B | $1.88B | +211.2% | $5.01B | $955M | +425.3% |
| Assets, Current | $2.49B | $973M | +156.2% | $2.46B | $600M | +309.6% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | $239M | – | – | $186M | – | – |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities | $14.9M2025-12-31 | – | – | $14.9M | – | – |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $59.6M2025-12-31 | – | – | $59.6M | – | – |
| Capitalized Computer Software, Additions | – | – | – | $17.5M | $13.5M | +29.6% |
| Capitalized Computer Software, Amortization | – | – | – | $1.4M | $1.1M | +27.3% |
| Cash and Cash Equivalents, at Carrying Value | $2.29B | $924M | +147.7% | $2.34B | $565M | +313.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.7B | $939M | +187.4% | $2.8B | $568M | +393.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $2.72B | $939M | +189.8% | $2.78B | $568M | +389.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$736M | $64.9M | -1,233.4% | $2.21B | $479M | +361.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$68.9M | -$36.1M | -90.7% | -$119M | -$226M | +47.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$230M | -$98.4M | -134.3% | -$340M | -$300M | -13.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$299M | -$135M | -122.6% | -$459M | -$527M | +12.9% |
| Contract with Customer, Liability | $267M | $43.1M | +519.9% | $227M | $42M | +440.5% |
| Contract with Customer, Liability, Current | $14.8M | – | – | $19.9M | $42M | -52.6% |
| Contract with Customer, Liability, Noncurrent | $252M | – | – | $207M | $0 | – |
| Current Federal Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Current Foreign Tax Expense (Benefit) | – | – | – | $6.45M | $2M | +223.1% |
| Current Income Tax Expense (Benefit) | – | – | – | $6.45M | $2M | +223.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Debt Instrument, Convertible, Conversion Ratio | 8.602026-02-17 | – | – | – | – | – |
| Debt Instrument, Face Amount | $3.02B | $504M | +500.1% | $2.26B | $167M | +1,252.2% |
| Debt Instrument, Interest Rate, Stated Percentage | – | – | – | 4.2%2022-12-31 | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$2.56M | -$669K | -281.9% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$2.56M | -$669K | -281.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Tax Assets, Gross | $623M2025-12-31 | $214M | +191.3% | $623M | $214M | +191.3% |
| Deferred Tax Assets, Net | – | – | – | $1.6M2024-12-31 | $895K | +78.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $4.15M2025-12-31 | $1.6M | +159.8% | $4.15M | $1.6M | +159.8% |
| Deferred Tax Assets, Operating Loss Carryforwards | $126M2025-12-31 | $56M | +124.6% | $126M | $56M | +124.6% |
| Deferred Tax Assets, Other | $14.6M2025-12-31 | $3.83M | +280.7% | $14.6M | $3.83M | +280.7% |
| Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $4.2M2025-12-31 | $1.6M | +162.5% | $4.2M | $1.6M | +162.5% |
| Deferred Tax Assets, Valuation Allowance | $618M2025-12-31 | $212M | +191.5% | $618M | $212M | +191.5% |
| Deferred Tax Liabilities, Gross | $14.9M2025-12-31 | $0 | – | $14.9M | $0 | – |
| Deferred Tax Liabilities, Intangible Assets | $14.9M2025-12-31 | $0 | – | $14.9M | $0 | – |
| Deferred Tax Liabilities, Net | $10.7M2025-12-31 | – | – | $10.7M | – | – |
| Deposit Assets | $15M2025-12-31 | – | – | $15M | – | – |
| Depreciation | $12.7M2025-09-30 | $14.5M | -12.4% | $63.3M2024-12-31 | $54.5M | +16.1% |
| Depreciation, Depletion and Amortization | $20.7M | $11.7M | +76.3% | $51.1M | $63.3M | -19.3% |
| Depreciation, Depletion and Amortization, Nonproduction | $20.7M | $11.7M | +76.3% | $51.1M | $63.3M | -19.3% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | -$1.42M | -$1.18M | -20.3% | -$2.41M | -$260K | -825.8% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | -$96M | – | – |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 0.0% | 0.0% | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | $66.3M | – | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02