STOCK RESEARCH · NASDAQ: ASTS · USD · CLASS A
Satellite-to-phone connectivity, an expanding constellation and a capital-intensive business still proving its commercial model. Read the financial evidence and the execution risks together.
Price: 24 September US close. Financials: quarter ended 30 June 2026, filed 10 August. This page is manually reviewed, not a live market feed. All dollar amounts are USD.
Historical observations describe how the stock traded; they do not predict returns or indicate when to buy. The incomplete 25 September session is excluded.
| Metric | Value | Definition |
|---|---|---|
| One-session return | +1.80% | 24 Sep close / 23 Sep close − 1 |
| Five-session return | -2.63% | 24 Sep close / 17 Sep close − 1 |
| 20-session return | +1.97% | 24 Sep close / 26 Aug close − 1 |
| 20-session average close | US$60.77 | Simple mean of 27 Aug–24 Sep closes |
| 20-session average volume | 9.62m shares/day | Mean daily share volume; not order-book liquidity |
| 20-session realized volatility | 77.9% | Annualized sample standard deviation of daily simple returns × √252 |
Market source: Stock Analysis / S&P Global Market Intelligence · checked 25 Sep 2026
Prices are the source’s split-adjusted closes, not total returns. Twenty daily returns need 21 closing prices. Annualized volatility extrapolates a short historical window; it is not a forecast or a maximum-loss estimate. Slippage, currency conversion, fees, taxes and dividends are excluded.
The June-quarter filing describes gateway products and government work, with no recognized SpaceMobile Service revenue. These are unaudited quarterly figures, not a September balance sheet.
| Measure | Amount | Period / basis |
|---|---|---|
| Total revenue | 31.520 | Q2 2026 |
| Consolidated net loss | -299.919 | Q2 2026 · before noncontrolling interests |
| Cash & equivalents | 2288.253 | 30 June 2026 |
| Restricted cash | 434.581 | 30 Jun · calculated: current + noncurrent |
| Operating cash flow | -145.212 | H1 2026 · cash used |
| Property & equipment cash payments | -859.215 | H1 2026 · cash used |
| Debt principal | 3022.152 | 30 Jun · before July financing |
Our calculation: H1 operating outflow plus property/equipment payments = US$1,004.427m. This narrow cash-use measure excludes separate spectrum/Ligado payments and insurance receipts. It is not reported free cash flow or a reliable straight-line cash-runway forecast.
The July financing, including the exercised option, added US$1.15bn of 1.625% convertible notes due 2034. Disclosed net proceeds of US$1.1312bn less US$111.4m for capped calls imply US$1.0198bn before later spending. Do not add this to June cash and call the result today’s cash.
Our read: this remains an execution-sensitive, early-commercialization stock. Current revenue alone cannot demonstrate the economics of a mature constellation; a revenue multiple is not a fair-value conclusion.
At 6 August: 299.789m Class A shares; approximately 389.167m economic-share equivalents including exchangeable AST LLC units. The latter is calculated, not diluted EPS shares, and excludes potential note/award dilution. Non-economic Class B/C voting shares must not be counted again on top of their underlying units.
Share-count source: 10-Q cover and Note 9
We do not publish a live market cap, enterprise value, analyst consensus, target price or P/E here. A defensible valuation needs refreshed economic shares, dilution terms, debt and usable cash on compatible dates, plus explicit operating assumptions.
Editorial monitoring framework, not a forecast. Company plans are not completed milestones.
Management’s August update reported the August 5 launch of BB11–13, while BB14–16 were preparing for shipment and BB17–46 were in production. Track successful deployment and service readiness separately from manufacturing or launch counts.
Look for verified partner service launches, coverage, usage and recognized service revenue. A mobile operator’s subscriber base is not AST’s paying subscriber count. Hardware deliveries and government milestones can make quarterly revenue uneven.
Management cited about US$1.30bn in contracted commercial revenue and government awards and FY2026 revenue guidance of US$150m–US$200m on August 10. Backlog is not current cash or recognized revenue; guidance is not a result.
Watch usable cash, capital spending, new debt, conversion terms and the economic ownership denominator together. More financing can support deployment while also increasing obligations or reducing existing holders’ share of future value.
Company update: 10 August 2026 · management statements and guidance
Risk source: FY2025 Form 10-K · competition and risk factors
Checked 25 September 2026. The latest financial filing verified was Q2 2026; no later issuer operating update was verified in this review. Recheck the issuer’s results and filings before relying on this snapshot.
Reported figures come from the cited SEC filings. Price returns, moving average, volume average, volatility, restricted-cash sum and cash-use totals are our calculations. Qualitative monitoring points are editorial interpretation, not company promises.
No live quote feed, verified consensus estimates, ownership/short-interest dataset, options model, full valuation model or personal suitability assessment. This is a source-backed starting point, not a complete investment decision.
Educational information, not a recommendation to buy or sell, or personalized financial, legal or tax advice. You can lose money. Confirm eligibility, rules and prices directly before acting.