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AST SpaceMobile (ASTS) Financials

AST SpaceMobile logo
$58.39 -4.32 (-6.89%)
As of 01:41 PM Eastern
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Annual Income Statements for AST SpaceMobile

Annual Income Statements for AST SpaceMobile

This table shows AST SpaceMobile's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
-24 -31 -32 -88 -300 -342
Consolidated Net Income / (Loss)
-24 -73 -103 -223 -526 -461
Net Income / (Loss) Continuing Operations
-24 -73 -103 -223 -526 -461
Total Pre-Tax Income
-24 -73 -102 -221 -525 -457
Total Operating Income
-24 -87 -146 -222 -243 -288
Total Gross Profit
2.94 4.84 14 0.00 4.42 36
Total Revenue
5.97 12 14 0.00 4.42 71
Operating Revenue
5.97 12 14 0.00 4.42 71
Total Cost of Revenue
3.03 7.56 0.00 0.00 0.00 35
Operating Cost of Revenue
3.03 7.56 - 0.00 0.00 35
Total Operating Expenses
27 92 160 222 247 323
Selling, General & Admin Expense
25 65 103 120 155 244
Research & Development Expense
1.01 23 46 47 29 28
Depreciation Expense
0.89 2.91 4.71 54 63 51
Total Other Income / (Expense), net
0.08 14 43 1.37 -282 -169
Interest Expense
- - 0.22 4.51 30 36
Interest & Investment Income
0.08 -1.95 24 -3.10 16 -65
Other Income / (Expense), net
0.00 16 19 8.99 -269 -68
Income Tax Expense
0.13 0.33 0.62 1.68 1.33 3.90
Net Income / (Loss) Attributable to Noncontrolling Interest
-0.34 -43 -71 -135 -226 -119
Basic Earnings per Share
$0.00 ($0.37) ($0.58) ($1.07) ($1.94) ($1.34)
Weighted Average Basic Shares Outstanding
0.00 51.73M 54.44M 81.82M 154.50M 255.98M
Diluted Earnings per Share
$0.00 ($0.37) ($0.58) ($1.07) ($1.94) ($1.34)
Weighted Average Diluted Shares Outstanding
0.00 51.73M 54.44M 81.82M 154.50M 255.98M
Weighted Average Basic & Diluted Shares Outstanding
0.00 51.73M 200.08M 138.13M 316.49M 382.02M

Quarterly Income Statements for AST SpaceMobile

This table shows AST SpaceMobile's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders
-32 -20 -73 -172 -36 -46 -99 -123 -74 -191 -231
Consolidated Net Income / (Loss)
-77 -40 -131 -303 -52 -64 -136 -164 -98 -250 -300
Net Income / (Loss) Continuing Operations
-77 -40 -131 -303 -52 -64 -136 -164 -98 -250 -300
Total Pre-Tax Income
-75 -40 -131 -302 -52 -63 -135 -163 -95 -248 -299
Total Operating Income
-61 -56 -63 -66 -59 -63 -73 -80 -72 -149 -298
Total Gross Profit
- 0.50 0.90 1.10 1.92 0.72 1.16 15 19 3.09 7.95
Total Revenue
- 0.50 0.90 1.10 1.92 0.72 1.16 15 54 15 32
Operating Revenue
- 0.50 0.90 1.10 1.92 0.72 1.16 15 54 15 32
Total Cost of Revenue
- 0.00 0.00 0.00 - 0.00 0.00 0.00 35 12 24
Operating Cost of Revenue
- - - 0.00 - 0.00 0.00 - - 12 24
Total Operating Expenses
61 56 64 67 61 64 74 94 91 152 306
Selling, General & Admin Expense
31 32 39 37 47 46 56 71 72 128 151
Research & Development Expense
11 4.26 4.46 15 5.34 7.14 6.39 5.53 9.06 7.13 7.77
Depreciation Expense
20 20 20 15 8.46 11 12 13 16 18 21
Other Special Charges / (Income)
- - - - - - 0.00 - - - 126
Total Other Income / (Expense), net
-14 16 -68 -237 6.78 -0.50 -62 -84 -23 -99 -1.23
Interest Expense
8.82 4.51 4.94 5.40 24 4.74 5.66 7.55 18 24 26
Interest & Investment Income
7.13 2.29 2.95 5.42 14 7.45 8.33 -79 -1.78 -74 25
Other Income / (Expense), net
-12 18 -66 -237 16 -3.21 -65 2.94 -2.85 -1.17 0.00
Income Tax Expense
2.09 0.29 0.23 0.65 0.16 0.17 0.74 0.37 2.61 1.17 1.11
Net Income / (Loss) Attributable to Noncontrolling Interest
-45 -20 -59 -131 -16 -18 -37 -41 -24 -59 -69
Basic Earnings per Share
($0.37) ($0.16) ($0.51) ($1.10) ($0.17) ($0.20) ($0.41) ($0.45) ($0.28) ($0.66) ($0.77)
Weighted Average Basic Shares Outstanding
81.82M 121.45M 141.19M 155.64M 154.50M 223.97M 241.99M 272.83M 255.98M 290.69M 299.06M
Diluted Earnings per Share
($0.37) ($0.16) ($0.51) ($1.10) ($0.17) ($0.20) ($0.41) ($0.45) ($0.28) ($0.66) ($0.77)
Weighted Average Diluted Shares Outstanding
81.82M 121.45M 141.19M 155.64M 154.50M 223.97M 241.99M 272.83M 255.98M 290.69M 299.06M
Weighted Average Basic & Diluted Shares Outstanding
138.13M 257.53M 269.39M 289.73M 316.49M 328.19M 358.52M 367.02M 382.02M 388.12M 389.17M

Annual Cash Flow Statements for AST SpaceMobile

This table details how cash moves in and out of AST SpaceMobile's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
9.10 282 -85 -151 479 2,212
Net Cash From Operating Activities
-23 -80 -156 -149 -126 -72
Net Cash From Continuing Operating Activities
-30 -80 -157 -149 -126 -72
Net Income / (Loss) Continuing Operations
-24 -73 -103 -223 -526 -461
Consolidated Net Income / (Loss)
-24 -73 -103 -223 -526 -461
Depreciation Expense
0.67 2.91 4.71 54 63 51
Amortization Expense
0.22 - 0.00 1.16 3.73 6.76
Non-Cash Adjustments To Reconcile Net Income
0.06 -11 -34 4.41 311 222
Changes in Operating Assets and Liabilities, net
-6.54 1.71 -24 14 22 110
Net Cash From Investing Activities
-30 -55 -31 -119 -174 -1,541
Net Cash From Continuing Investing Activities
-30 -55 -31 -119 -174 -1,541
Purchase of Property, Plant & Equipment
-8.12 -15 -57 -119 -174 -1,065
Acquisitions
-0.02 - - 0.00 0.00 -56
Divestitures
- 0.00 26 0.00 0.00 0.00
Other Investing Activities, net
-22 -40 - 0.00 0.00 -420
Net Cash From Financing Activities
70 417 102 117 780 3,827
Net Cash From Continuing Financing Activities
70 417 102 117 780 3,827
Repayment of Debt
-2.53 - 0.00 -9.90 -58 -20
Repurchase of Common Equity
-7.75 - -2.75 -0.87 -12 -24
Issuance of Debt
0.10 0.05 0.23 64 145 2,612
Issuance of Common Equity
- 0.00 105 65 557 1,308
Other Financing Activities, net
0.00 417 0.01 -0.87 148 -47
Effect of Exchange Rate Changes
-0.17 -0.29 0.20 -0.14 -0.26 -2.41
Cash Interest Paid
0.03 0.01 0.22 3.24 12 7.86
Cash Income Taxes Paid
0.13 0.19 0.68 0.49 1.67 6.80

Quarterly Cash Flow Statements for AST SpaceMobile

This table details how cash moves in and out of AST SpaceMobile's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents
-48 124 75 231 49 307 65 281 1,560 679 -736
Net Cash From Operating Activities
-25 -48 -16 -33 -28 -29 -43 -64 65 -48 -97
Net Cash From Continuing Operating Activities
-25 -48 -16 -33 -28 -29 -43 -64 65 -48 -97
Net Income / (Loss) Continuing Operations
-77 -40 -131 -303 -52 -64 -136 -164 -98 -250 -300
Consolidated Net Income / (Loss)
-77 -40 -131 -303 -52 -64 -136 -164 -98 -250 -300
Depreciation Expense
20 20 20 15 8.46 11 12 13 16 18 21
Amortization Expense
0.78 0.90 1.00 1.15 0.69 0.31 0.41 2.32 3.72 4.25 4.39
Non-Cash Adjustments To Reconcile Net Income
15 -13 80 244 1.04 12 75 97 38 152 192
Changes in Operating Assets and Liabilities, net
17 -16 14 10 13 12 4.80 -12 105 27 -14
Net Cash From Investing Activities
-22 -40 -22 -30 -82 -120 -310 -266 -844 -379 -600
Net Cash From Continuing Investing Activities
-22 -40 -22 -30 -82 -120 -310 -266 -844 -379 -600
Purchase of Property, Plant & Equipment
-22 -40 -22 -30 -82 -120 -310 -238 -396 -262 -598
Acquisitions
- - - - - 0.00 - - -28 -18 -24
Other Investing Activities, net
- - - - - 0.00 - - - -100 22
Net Cash From Financing Activities
-0.64 212 114 295 160 456 420 611 2,340 1,105 -37
Net Cash From Continuing Financing Activities
-0.64 212 114 295 160 456 420 611 2,340 1,102 -34
Repayment of Debt
-0.06 -5.22 -0.06 -4.34 -49 -6.47 -0.98 -5.38 -7.52 -21 1.35
Issuance of Common Equity
-0.36 108 82 152 215 60 410 115 723 83 6.92
Other Financing Activities, net
-0.87 -0.31 -0.93 151 -1.57 -46 -4.65 -67 70 -20 -42
Cash Interest Paid
2.17 2.21 2.22 2.27 5.29 3.89 -3.07 3.40 3.64 11 13
Cash Income Taxes Paid
-0.02 0.71 0.19 0.23 0.53 0.70 0.62 0.34 5.14 1.02 1.09

Annual Balance Sheets for AST SpaceMobile

This table presents AST SpaceMobile's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets
232 100 444 438 361 955 5,014
Total Current Assets
0.62 51 336 268 107 600 2,459
Cash & Equivalents
0.49 43 322 239 86 565 2,336
Restricted Cash
- 0.00 2.75 0.67 2.48 2.55 0.88
Accounts Receivable
- 2.08 2.17 - - 1.40 38
Inventories, net
- 2.59 1.41 - - 1.06 12
Prepaid Expenses
0.13 1.25 2.83 4.10 4.59 7.89 12
Other Current Assets
- 2.23 4.85 25 14 22 60
Plant, Property, & Equipment, net
0.00 37 96 146 238 338 1,399
Total Noncurrent Assets
231 12 12 24 16 17 1,157
Goodwill
- 3.91 3.64 - - 0.00 245
Other Noncurrent Operating Assets
- 7.21 8.55 24 16 17 912
Total Liabilities & Shareholders' Equity
232 100 444 438 361 955 5,014
Total Liabilities
24 20 92 79 147 285 2,622
Total Current Liabilities
0.27 13 21 28 46 76 150
Short-Term Debt
- - - 0.24 0.25 2.92 12
Accounts Payable
0.24 4.99 6.64 14 21 17 47
Accrued Expenses
- 4.22 7.47 13 24 12 69
Current Deferred Revenue
- 3.40 6.64 - - 42 20
Other Current Liabilities
- 0.50 0.63 0.72 1.47 1.86 2.45
Total Noncurrent Liabilities
8.05 6.54 71 51 101 209 2,472
Long-Term Debt
- 0.00 5.00 4.76 59 156 2,208
Noncurrent Deferred Revenue
- - - - - 0.00 207
Other Noncurrent Operating Liabilities
8.05 6.54 66 46 42 54 57
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
5.00 80 352 360 214 669 2,392
Total Preferred & Common Equity
5.00 77 100 134 99 479 1,841
Total Common Equity
5.00 77 100 134 99 479 1,841
Common Stock
7.88 118 171 235 288 969 2,672
Retained Earnings
-2.88 -40 -70 -102 -190 -490 -832
Accumulated Other Comprehensive Income / (Loss)
- -0.17 -0.43 0.23 0.23 -0.18 1.35
Noncontrolling Interest
- 2.49 252 226 115 190 551

Quarterly Balance Sheets for AST SpaceMobile

This table presents AST SpaceMobile's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets
401 408 402 502 580 822 1,370 1,881 2,551 6,051 5,855
Total Current Assets
227 222 163 240 315 546 895 973 1,277 3,153 2,494
Cash & Equivalents
185 191 133 210 285 516 874 924 1,204 3,030 2,288
Restricted Cash
0.65 0.64 2.42 2.47 2.48 2.50 0.68 16 16 0.87 6.18
Accounts Receivable
- - - - - - - - 11 27 79
Inventories, net
- - - - - - - - 11 17 28
Prepaid Expenses
3.23 7.13 6.26 5.03 7.36 7.07 6.13 10 9.27 11 17
Other Current Assets
38 23 21 22 20 20 14 24 25 67 75
Plant, Property, & Equipment, net
159 172 224 245 248 260 451 762 1,008 1,638 2,069
Total Noncurrent Assets
15 15 15 17 16 16 24 147 266 1,260 1,292
Goodwill
- 0.00 0.00 - - - - - 214 268 299
Other Noncurrent Operating Assets
15 15 15 17 16 16 24 147 52 993 993
Total Liabilities & Shareholders' Equity
401 408 402 502 580 822 1,370 1,881 2,551 6,051 5,855
Total Liabilities
84 73 115 216 338 319 603 724 925 3,390 3,457
Total Current Liabilities
36 31 27 32 49 94 84 118 134 171 191
Short-Term Debt
- - - 0.26 0.26 45 3.70 7.62 8.95 8.24 8.49
Accounts Payable
11 5.11 7.81 15 12 8.96 11 23 51 61 61
Accrued Expenses
23 24 18 16 14 16 26 43 49 73 103
Current Deferred Revenue
0.00 0.00 0.00 - - - - - 23 26 15
Other Current Liabilities
0.95 1.31 1.38 1.51 23 24 44 45 2.14 3.04 3.75
Total Noncurrent Liabilities
48 42 88 184 288 225 519 605 791 3,220 3,266
Long-Term Debt
4.70 4.63 59 161 200 156 462 483 698 2,963 2,963
Noncurrent Deferred Revenue
- - - - - - - - 43 207 252
Other Noncurrent Operating Liabilities
44 37 29 23 89 69 57 123 50 49 51
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
317 336 287 286 242 503 767 1,158 1,626 2,661 2,398
Total Preferred & Common Equity
119 146 128 165 145 309 569 867 1,240 2,079 1,894
Total Common Equity
119 146 128 165 145 309 569 867 1,240 2,079 1,894
Common Stock
237 283 286 374 427 762 1,104 1,501 1,997 3,101 3,146
Retained Earnings
-118 -137 -158 -209 -282 -454 -535 -635 -758 -1,023 -1,254
Accumulated Other Comprehensive Income / (Loss)
0.18 0.16 0.01 0.12 0.05 0.35 0.10 1.11 1.17 1.11 1.53
Noncontrolling Interest
198 190 159 121 97 194 198 290 386 581 504

Annual Metrics And Ratios for AST SpaceMobile

This table displays calculated financial ratios and metrics derived from AST SpaceMobile's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding
- - - - - 367,019,330.00
DEI Adjusted Shares Outstanding
- - - - - 367,019,330.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - -0.93
Growth Metrics
- - - - - -
Profitability Metrics
- - - - - -
Net Operating Profit after Tax (NOPAT)
-17 -61 -102 -156 -170 -201
Return On Investment Capital (ROIC_SIMPLE)
- - -27.97% -57.00% -20.53% -4.37%
Earnings before Interest and Taxes (EBIT)
-24 -71 -127 -213 -511 -356
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-23 -68 -122 -158 -444 -298
Valuation Ratios
- - - - - -
Leverage & Solvency
- - - - - -
Liquidity Ratios
- - - - - -
Cash Flow Metrics
- - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -56 -195 -215 -245 -2,217
Efficiency Ratios
- - - - - -
Capital & Investment Metrics
- - - - - -
Invested Capital
37 32 126 185 260 2,275
Increase / (Decrease) in Invested Capital
0.00 -4.78 93 59 75 2,015
Book Value per Share
$2.70 $0.55 $0.72 $0.45 $1.65 $5.02
Tangible Book Value per Share
$2.54 $0.53 $0.72 $0.45 $1.65 $4.35
Total Capital
80 357 365 273 828 4,612
Total Debt
0.00 5.00 5.00 60 158 2,220
Total Long-Term Debt
0.00 5.00 4.76 59 156 2,208
Net Debt
-43 -320 -234 -29 -409 -117
Capital Expenditures (CapEx)
8.12 15 57 119 174 1,065
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-4.96 -10 1.50 -27 -40 -16
Debt-free Net Working Capital (DFNWC)
38 314 241 61 527 2,320
Net Working Capital (NWC)
38 314 241 61 524 2,308
Net Nonoperating Expense (NNE)
7.36 13 1.08 67 356 260
Net Nonoperating Obligations (NNO)
-43 -320 -234 -29 -409 -117
Total Depreciation and Amortization (D&A)
0.89 2.91 4.71 56 67 58
Earnings Adjustments
- - - - - -
Adjusted Basic Earnings per Share
$0.00 ($0.37) ($0.58) ($1.07) ($1.94) ($1.34)
Adjusted Weighted Average Basic Shares Outstanding
0.00 181.58M 54.44M 81.82M 154.50M 255.98M
Adjusted Diluted Earnings per Share
$0.00 ($0.37) ($0.58) ($1.07) ($1.94) ($1.34)
Adjusted Weighted Average Diluted Shares Outstanding
0.00 181.58M 54.44M 81.82M 154.50M 255.98M
Adjusted Basic & Diluted Earnings per Share
$0.00 ($0.37) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 51.73M 200.08M 138.13M 316.49M 382.02M
Normalized Net Operating Profit after Tax (NOPAT)
-17 -61 -102 -156 -170 -201
Debt Service Ratios
- - - - - -
Payout Ratios
- - - - - -

Quarterly Metrics And Ratios for AST SpaceMobile

This table displays calculated financial ratios and metrics derived from AST SpaceMobile's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding
- - - - - - - - 367,019,330.00 382,015,228.00 388,124,572.00
DEI Adjusted Shares Outstanding
- - - - - - - - 367,019,330.00 382,015,228.00 388,124,572.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - -0.20 -0.50 -0.59
Growth Metrics
- - - - - - - - - - -
Revenue Growth
0.00% 0.00% 0.00% 0.00% 0.00% 43.60% 28.44% 1,239.91% - 1,952.23% 2,626.64%
EBITDA Growth
-121.53% 53.32% -187.46% -793.89% 37.02% -233.93% -16.67% 78.48% - -134.46% -116.81%
EBIT Growth
-191.45% -0.89% -150.28% -487.48% 42.04% -77.46% -6.73% 74.63% - -127.58% -115.90%
NOPAT Growth
-42.87% -24.85% -8.48% -11.16% 3.54% -13.45% -15.56% -21.56% - -137.30% -308.78%
Net Income Growth
-207.39% 11.97% -164.88% -497.23% 32.45% -59.85% -3.47% 45.95% - -292.25% -120.69%
EPS Growth
-184.62% 30.43% -112.50% -378.26% 54.05% -25.00% 19.61% 59.09% - -230.00% -87.80%
Operating Cash Flow Growth
28.94% -27.53% 67.86% 7.28% -14.21% 40.68% -169.18% -92.83% - -68.35% -123.46%
Free Cash Flow Firm Growth
17.04% -35.59% 36.08% -480.09% -13.95% -22.05% -1,131.34% -4,661.92% - -1,300.30% -325.35%
Invested Capital Growth
47.30% 72.51% 3.40% 0.00% 40.62% 52.72% 359.75% 501.98% - 626.55% 334.02%
Revenue Q/Q Growth
0.00% 0.00% 80.00% 22.22% 74.36% -62.57% 61.00% 1,175.00% - -72.87% 113.91%
EBITDA Q/Q Growth
-65.12% 0.00% -555.32% -166.16% 88.37% -64.55% -128.95% 50.91% - -131.14% -111.71%
EBIT Q/Q Growth
-42.46% 0.00% -246.33% -134.22% 85.94% -55.65% -108.30% 44.32% - -100.43% -97.61%
NOPAT Q/Q Growth
-3.24% 0.00% -13.50% -4.05% 10.41% -7.22% -15.62% -9.45% - -106.72% -99.17%
Net Income Q/Q Growth
-51.97% 0.00% -229.99% -130.74% 82.81% -22.14% -113.59% -20.55% - -155.58% -20.17%
EPS Q/Q Growth
-60.87% 0.00% -218.75% -115.69% 84.55% -17.65% -105.00% -9.76% - -135.71% -16.67%
Operating Cash Flow Q/Q Growth
30.93% 0.00% 66.44% -106.97% 14.92% -0.37% -52.31% -48.26% - -173.97% -102.16%
Free Cash Flow Firm Q/Q Growth
-268.08% 0.00% 64.22% -369.23% 49.61% -44.27% -260.96% -62.46% - -13.68% -9.64%
Invested Capital Q/Q Growth
0.00% 0.00% -34.28% 19.92% 40.75% 37.68% 97.84% 57.02% - 14.35% 18.19%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 20.94% 25.23%
EBITDA Margin
0.00% -3,288.20% -11,971.22% -26,069.82% -1,739.57% -7,646.52% -10,873.44% -418.64% - -873.60% -864.61%
Operating Margin
0.00% -11,100.00% -6,999.22% -5,958.73% -3,061.68% -8,769.22% -6,297.32% -540.58% - -1,013.99% -944.09%
EBIT Margin
0.00% -7,457.20% -14,348.11% -27,496.18% -2,216.48% -9,215.74% -11,922.92% -520.65% - -1,021.96% -944.09%
Profit (Net Income) Margin
0.00% -7,960.80% -14,594.44% -27,552.73% -2,716.16% -8,861.84% -11,756.31% -1,111.52% - -1,693.80% -951.52%
Tax Burden Percent
102.78% 100.74% 100.18% 100.21% 100.30% 100.26% 100.55% 100.23% - 100.47% 100.37%
Interest Burden Percent
102.30% 105.96% 101.54% 99.99% 122.17% 95.91% 98.06% 213.00% - 164.96% 100.41%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Invested Capital (ROIC)
0.00% -20.98% -45.25% -112.85% -42.55% -96.04% -50.00% -10.81% - -40.73% -40.28%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% -20.16% 18.30% 48.91% -37.53% -87.54% -18.36% 15.18% - 21.30% -120.56%
Return on Net Nonoperating Assets (RNNOA)
0.00% 7.77% -8.70% -30.93% 18.61% 38.25% 7.05% -5.93% - -2.90% -7.74%
Return on Equity (ROE)
-77.67% -13.21% -53.95% -143.78% -23.94% -57.79% -42.95% -16.74% - -43.64% -48.02%
Cash Return on Invested Capital (CROIC)
-138.50% -141.43% -113.41% -385.54% -110.13% -100.84% -170.74% -172.61% - -169.30% -147.26%
Operating Return on Assets (OROA)
0.00% -8.26% -40.66% -83.66% -14.89% -45.66% -47.40% -5.72% - -23.39% -28.14%
Return on Assets (ROA)
0.00% -8.82% -41.36% -83.83% -18.24% -43.91% -46.74% -12.21% - -38.77% -28.36%
Return on Common Equity (ROCE)
-31.50% -6.20% -27.22% -88.34% -15.68% -40.25% -31.08% -12.18% - -33.71% -37.29%
Return on Equity Simple (ROE_SIMPLE)
0.00% -132.05% -205.89% -178.48% 0.00% -96.76% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)
-43 -39 -44 -46 -41 -44 -51 -56 -51 -105 -208
NOPAT Margin
0.00% -7,770.00% -4,899.46% -4,171.11% -2,143.18% -6,138.45% -4,408.12% -378.41% - -709.80% -660.86%
Net Nonoperating Expense Percent (NNEP)
-26.26% -0.82% -63.55% -161.76% -5.02% -8.50% -31.64% -25.99% - -62.03% 80.28%
Return On Investment Capital (ROIC_SIMPLE)
-15.61% - - - -4.97% -3.58% -3.09% -2.39% -1.10% -1.86% -3.88%
Cost of Revenue to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 79.06% 74.77%
SG&A Expenses to Revenue
0.00% 6,359.60% 4,337.89% 3,398.09% 2,442.08% 6,349.30% 4,830.45% 479.39% - 867.01% 479.65%
R&D to Revenue
0.00% 851.40% 495.56% 1,338.55% 278.52% 993.73% 553.03% 37.52% - 48.38% 24.64%
Operating Expenses to Revenue
0.00% 11,200.00% 7,099.22% 6,058.73% 3,161.68% 8,869.22% 6,397.32% 640.58% - 1,034.94% 969.32%
Earnings before Interest and Taxes (EBIT)
-73 -37 -129 -302 -43 -66 -138 -77 -75 -151 -298
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-53 -16 -108 -287 -33 -55 -126 -62 -56 -129 -273
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
13.26 3.84 20.59 22.80 12.76 12.66 17.68 14.19 - 15.22 18.21
Price to Tangible Book Value (P/TBV)
13.26 3.84 20.59 22.80 12.76 12.66 17.68 17.14 - 17.47 21.62
Price to Revenue (P/Rev)
0.00 1,262.52 2,135.67 2,817.87 1,383.75 1,552.42 3,134.98 949.55 - 372.73 299.12
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
7.56 2.99 19.46 37.45 22.66 19.51 21.42 15.70 - 12.37 11.60
Enterprise Value to Revenue (EV/Rev)
0.00 1,402.43 2,142.01 2,768.22 1,334.18 1,507.02 3,102.50 942.64 - 378.88 309.37
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.28 0.56 0.83 0.40 0.24 0.61 0.42 0.43 - 1.12 1.24
Long-Term Debt to Equity
0.28 0.56 0.83 0.31 0.23 0.60 0.42 0.43 - 1.11 1.24
Financial Leverage
-0.46 -0.39 -0.48 -0.63 -0.50 -0.44 -0.38 -0.39 - -0.14 0.06
Leverage Ratio
1.39 1.50 1.71 1.63 1.49 1.78 1.76 1.58 - 2.17 2.18
Compound Leverage Factor
1.43 1.59 1.74 1.63 1.82 1.71 1.72 3.37 - 3.57 2.18
Debt to Total Capital
21.79% 36.04% 45.24% 28.55% 19.15% 37.80% 29.74% 30.29% - 52.76% 55.35%
Short-Term Debt to Total Capital
0.09% 0.06% 0.06% 6.34% 0.35% 0.30% 0.46% 0.38% - 0.15% 0.16%
Long-Term Debt to Total Capital
21.70% 35.99% 45.18% 22.20% 18.80% 37.50% 29.28% 29.91% - 52.61% 55.19%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Noncontrolling Interests to Total Capital
41.96% 27.14% 21.88% 27.55% 22.96% 16.07% 17.62% 16.53% - 10.32% 9.38%
Common Equity to Total Capital
36.25% 36.81% 32.88% 43.90% 57.89% 46.13% 52.63% 53.18% - 36.92% 35.27%
Debt to EBITDA
-0.38 -1.16 -0.95 -0.43 -0.36 -0.97 -0.98 -2.56 - -7.99 -5.73
Net Debt to EBITDA
0.18 0.37 0.42 0.69 0.92 0.85 0.90 1.86 - 0.16 -1.31
Long-Term Debt to EBITDA
-0.38 -1.16 -0.95 -0.34 -0.35 -0.96 -0.96 -2.53 - -7.97 -5.71
Debt to NOPAT
-0.38 -0.99 -1.20 -1.17 -0.93 -2.66 -2.69 -3.68 - -11.35 -7.09
Net Debt to NOPAT
0.18 0.31 0.53 1.85 2.41 2.33 2.47 2.68 - 0.23 -1.62
Long-Term Debt to NOPAT
-0.38 -0.98 -1.20 -0.91 -0.92 -2.64 -2.65 -3.64 - -11.31 -7.07
Altman Z-Score
4.14 1.42 4.45 11.93 12.65 7.17 12.55 11.45 - 5.89 6.01
Noncontrolling Interest Sharing Ratio
59.45% 53.02% 49.55% 38.56% 34.51% 30.35% 27.65% 27.22% - 22.74% 22.33%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
2.31 7.51 6.38 5.80 7.90 10.62 8.23 9.56 - 18.47 13.05
Quick Ratio
1.85 6.59 5.77 5.49 7.44 10.38 7.81 9.10 - 17.91 12.39
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-102 -137 -49 -231 -116 -168 -605 -983 -2,066 -2,348 -2,575
Operating Cash Flow to CapEx
-111.44% -121.62% -72.75% -110.24% -34.67% -23.70% -14.02% -27.04% - -18.37% -16.26%
Free Cash Flow to Firm to Interest Expense
-11.56 -61.84 -21.97 -166.44 -4.88 -35.41 -107.01 -130.34 - -96.73 -98.74
Operating Cash Flow to Interest Expense
-2.82 -21.66 -7.22 -24.12 -1.20 -6.03 -7.69 -8.54 - -1.98 -3.73
Operating Cash Flow Less CapEx to Interest Expense
-5.35 -39.46 -17.14 -46.00 -4.64 -31.46 -62.51 -40.14 - -12.75 -26.64
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.01 - 0.02 0.03
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Fixed Asset Turnover
0.00 0.00 0.01 0.01 0.02 0.01 0.01 0.03 - 0.08 0.08
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 1.31 1.69
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 278.93 215.89
Cash Conversion Cycle (CCC)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -278.93 -215.89
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
185 234 154 185 260 358 709 1,112 2,275 2,602 3,075
Invested Capital Turnover
0.00 0.00 0.01 0.03 0.02 0.02 0.01 0.03 - 0.06 0.06
Increase / (Decrease) in Invested Capital
59 99 5.07 185 75 124 554 928 2,015 2,244 2,367
Enterprise Value (EV)
1,399 701 2,999 6,921 5,894 6,987 15,177 17,468 - 32,180 35,670
Market Capitalization
1,313 631 2,990 7,045 6,113 7,197 15,336 17,596 - 31,658 34,489
Book Value per Share
$0.45 $0.76 $0.56 $1.15 $1.65 $1.80 $2.64 $4.55 $5.02 $5.44 $4.88
Tangible Book Value per Share
$0.45 $0.76 $0.56 $1.15 $1.65 $1.80 $2.64 $3.76 $4.35 $4.74 $4.11
Total Capital
273 447 442 704 828 1,233 1,648 2,333 4,612 5,632 5,369
Total Debt
60 161 200 201 158 466 490 707 2,220 2,972 2,972
Total Long-Term Debt
59 161 200 156 156 462 483 698 2,208 2,963 2,963
Net Debt
-29 -51 -88 -318 -409 -409 -449 -514 -117 -59 677
Capital Expenditures (CapEx)
22 40 22 30 82 120 310 238 396 262 598
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-27 -4.56 -22 -23 -40 -60 -77 -68 -16 -40 17
Debt-free Net Working Capital (DFNWC)
61 208 266 496 527 814 863 1,152 2,320 2,990 2,311
Net Working Capital (NWC)
61 208 266 452 524 810 855 1,143 2,308 2,982 2,303
Net Nonoperating Expense (NNE)
35 0.95 87 257 11 20 85 108 47 145 92
Net Nonoperating Obligations (NNO)
-29 -51 -88 -318 -409 -409 -449 -514 -117 -59 677
Total Depreciation and Amortization (D&A)
20 21 21 16 9.15 11 12 15 19 22 25
Debt-free, Cash-free Net Working Capital to Revenue
0.00% -911.40% -1,538.07% -908.36% -912.43% -1,302.24% -1,571.46% -365.59% - -47.48% 14.43%
Debt-free Net Working Capital to Revenue
0.00% 41,576.60% 19,002.43% 19,847.08% 11,933.52% 17,560.09% 17,631.32% 6,218.63% - 3,520.50% 2,004.42%
Net Working Capital to Revenue
0.00% 41,525.60% 18,984.00% 18,061.68% 11,867.45% 17,480.31% 17,475.63% 6,170.35% - 3,510.80% 1,997.05%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.37) ($0.16) ($0.51) ($1.10) ($0.17) ($0.20) ($0.41) ($0.45) ($0.28) ($0.66) ($0.77)
Adjusted Weighted Average Basic Shares Outstanding
81.82M 121.45M 141.19M 155.64M 154.50M 223.97M 241.99M 272.83M 255.98M 290.69M 299.06M
Adjusted Diluted Earnings per Share
($0.37) ($0.16) ($0.51) ($1.10) ($0.17) ($0.20) ($0.41) ($0.45) ($0.28) ($0.66) ($0.77)
Adjusted Weighted Average Diluted Shares Outstanding
81.82M 121.45M 141.19M 155.64M 154.50M 223.97M 241.99M 272.83M 255.98M 290.69M 299.06M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
138.13M 257.53M 269.39M 289.73M 316.49M 328.19M 358.52M 367.02M 382.02M 388.12M 389.17M
Normalized Net Operating Profit after Tax (NOPAT)
-43 -39 -44 -46 -41 -44 -51 -56 -51 -105 -120
Normalized NOPAT Margin
0.00% -7,770.00% -4,899.46% -4,171.11% -2,143.18% -6,138.45% -4,408.12% -378.41% - -709.80% -381.24%
Pre Tax Income Margin
0.00% -7,902.00% -14,568.78% -27,494.00% -2,707.98% -8,838.44% -11,692.13% -1,108.98% - -1,685.86% -947.99%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
-8.31 -16.78 -57.70 -218.22 -1.79 -13.97 -24.36 -10.17 - -6.20 -11.41
NOPAT to Interest Expense
-4.83 -17.48 -19.70 -33.10 -1.73 -9.31 -9.01 -7.39 - -4.31 -7.99
EBIT Less CapEx to Interest Expense
-10.85 -34.59 -67.62 -240.10 -5.23 -39.41 -79.19 -41.77 - -16.98 -34.33
NOPAT Less CapEx to Interest Expense
-7.36 -35.29 -29.62 -54.98 -5.17 -34.74 -63.84 -38.99 - -15.08 -30.91
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Augmented Payout Ratio
-0.39% 0.00% 0.00% 0.00% -2.31% -2.41% -3.47% -3.98% - -3.60% -1.84%

Financials Breakdown Chart

Key Financial Trends

AST SpaceMobile’s financial profile shows rapid commercialization, but the company remains heavily dependent on external financing. Revenue has increased from essentially zero in 2023 and early 2024 to $31.5 million in Q2 2026. However, operating costs, capital spending and debt obligations have also expanded substantially, leaving ASTS with continued losses and negative operating cash flow.

  • Revenue is beginning to scale. Quarterly revenue rose from $1.2 million in Q2 2025 to $31.5 million in Q2 2026, while Q4 2025 revenue reached $54.3 million. This suggests the business is moving beyond its earlier pre-commercial stage, although quarterly revenue remains volatile.
  • Gross profit has emerged. Q2 2026 gross profit was $8.0 million, producing a gross margin of approximately 25%. ASTS reported little or no cost of revenue in several earlier periods, so the latest results provide a more meaningful view of its developing operating economics.
  • The company has built a large asset base. Total assets increased to $5.85 billion at June 30, 2026, from $1.88 billion a year earlier. Net property, plant and equipment climbed to $2.07 billion, reflecting significant investment in the company’s satellite and network infrastructure.
  • Liquidity remains substantial in absolute terms. ASTS held $2.29 billion in cash and equivalents at the end of Q2 2026. Current assets of $2.49 billion compared with current liabilities of $191.0 million, indicating strong short-term balance-sheet coverage.
  • Noncash expenses are contributing meaningfully to reported losses. Q2 2026 included $191.7 million of noncash adjustments and $20.7 million of depreciation. This means reported earnings substantially overstate the company’s near-term cash burn, although these adjustments do not eliminate the need for future funding.
  • Revenue growth is uneven. Revenue increased sequentially from $14.7 million in Q1 2026 to $31.5 million in Q2, but it was below the $54.3 million reported in Q4 2025. Investors should expect quarterly results to remain lumpy while the company develops its commercial service base.
  • Reported figures include restatements and calculated periods. Several 2024 and 2025 income-statement and cash-flow figures were identified as restated or calculated. Comparisons across periods should therefore be interpreted cautiously, particularly when assessing growth rates and changes in other income.
  • ASTS remains deeply unprofitable. Q2 2026 net loss was $299.9 million, or $0.77 per basic and diluted share, compared with a $249.6 million loss in Q1 2026 and a $135.9 million loss in Q2 2025. A $125.9 million special charge was a major contributor to the latest operating loss, but recurring operating expenses also remain high.
  • Operating cash flow is consistently negative. ASTS used $97.2 million of cash in operating activities during Q2 2026, following outflows of $48.1 million in Q1 2026 and $64.5 million in Q4 2025. The company has not yet demonstrated that revenue can fund ongoing operations.
  • Capital spending and leverage have surged. Q2 2026 capital expenditures totaled $597.6 million, driving total investing cash outflow to $600.5 million. Long-term debt reached $2.96 billion, up from $482.5 million in Q2 2024, while Q2 cash fell by $740.8 million sequentially. ASTS also continues to issue equity, increasing dilution risk as it funds its expansion.

Overall, ASTS has made clear progress in revenue generation and infrastructure development, but its investment case still depends on successfully converting that infrastructure into sustained, high-margin revenue. For investors, the most important metrics to monitor are recurring revenue growth, gross-margin improvement, operating cash burn, capital-expenditure requirements and whether future funding comes from internally generated cash, additional debt or new share issuance.

09/18/26 01:33 PM ETAI Generated. May Contain Errors.

AST SpaceMobile Financials - Frequently Asked Questions

According to the most recent income statement we have on file, AST SpaceMobile's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

AST SpaceMobile's net income appears to be on an upward trend, with a most recent value of -$461.01 million in 2025, rising from -$24.41 million in 2020. The previous period was -$526.33 million in 2024. Check out AST SpaceMobile's forecast to explore projected trends and price targets.

AST SpaceMobile's total operating income in 2025 was -$287.71 million, based on the following breakdown:
  • Total Gross Profit: $35.70 million
  • Total Operating Expenses: $323.42 million

Over the last 5 years, AST SpaceMobile's total revenue changed from $5.97 million in 2020 to $70.92 million in 2025, a change of 1,088.5%.

AST SpaceMobile's total liabilities were at $2.62 billion at the end of 2025, a 818.7% increase from 2024, and a 10,698.6% increase since 2019.

In the past 6 years, AST SpaceMobile's cash and equivalents has ranged from $493.13 thousand in 2019 to $2.34 billion in 2025, and is currently $2.34 billion as of their latest financial filing in 2025.

Over the last 5 years, AST SpaceMobile's book value per share changed from 2.70 in 2020 to 5.02 in 2025, a change of 86.1%.



Financial statements for NASDAQ:ASTS last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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