# AST SpaceMobile (ASTS) Q2 2026 earnings

Results filed 2026-08-10 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/asts/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1780312/000119312526342540/0001193125-26-342540-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

AST SpaceMobile reported second quarter 2026 revenue of $31.5 million, a net loss per share of $(0.77), and revenue backlog of approximately $1.30 billion.

AST SpaceMobile's second quarter revenue was $31.5 million, driven by gateway deliveries and U.S. Government milestones met. Net loss attributable to common stockholders was $(230,909) thousand, or $(0.77) per share. Total operating expenses were $329.1 million, including a $125.9 million loss on involuntary conversion. The network now has 13 spacecraft in orbit, and the company says it is preparing to start beta services with select partners.
Management says it is on track for full year 2026 revenue of $150.0 million to $200.0 million. The company is targeting approximately 45 satellites in orbit in early 2027. The main tension is that spending is far ahead of revenue. Six-month net cash used in operating activities was $(145,212) thousand and purchases of property and equipment were $(859,215) thousand. Satellite shipment timing also depends on factors the company says are often beyond its control. A $1.150 billion convertible notes offering in July added funding.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Total revenues, Q2 2026 | $31.5 million |  | GAAP |
| Net loss attributable to common stockholders, Q2 2026 | $(230,909) |  | GAAP |
| Net loss per share, basic and diluted, Q2 2026 | $(0.77) |  | GAAP |
| Net cash used in operating activities, six months ended June 30, 2026 | (145,212) |  | GAAP |
| Total operating expenses, Q2 2026 | $329.1 million | up $165.0 million from $164.1 million in the first quarter of 2026 | GAAP |
| Adjusted operating expenses, Q2 2026 | $119.1 million | up $27.9 million from $91.2 million in the first quarter of 2026 | non-GAAP |
| Cash, cash equivalents and restricted cash, June 30, 2026 | approximately $2.7 billion |  | GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Revenue backlog (aggregate contracted revenue) | approximately $1.30 billion | increased |
| MNO partners signed | over 60 |  |
| Spacecraft in orbit | 13 | six spacecraft launched within 50 days |
| Gateways in various stages | nearly 50 |  |
| Digital cells activated, Continental U.S. | 3,000 |  |
| New U.S. Government awards | over $125 million |  |
| Pro forma liquidity | Over $3.7 billion |  |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Full year 2026 revenue | full year 2026 | $150.0 million to $200.0 million |
| Satellites in orbit target | early 2027 | approximately 45 satellites |

## Key takeaways

1. **Revenue grew sharply but remains small** Second quarter revenue was $31.5 million versus $1,156 thousand a year earlier in the statement of operations. The company says this is consistent with plans for quarterly revenue ramp during 2026.
2. **A $125.9 million charge widened the loss** Total operating expenses were $329.1 million, including a $125.9 million loss on involuntary conversion. Net loss per share was $(0.77) versus $(0.41) a year earlier.
3. **Full year revenue guidance of $150.0M-$200.0M reiterated** Management says it is on track for full year 2026 revenue of $150.0 million to $200.0 million, supported by additional contract awards from the U.S. Government. First-half revenue was $46,255 thousand.
4. **Balance sheet funds continued satellite buildout** Cash, cash equivalents, and restricted cash were approximately $2.7 billion at June 30, 2026, and over $3.7 billion pro forma. July's $1.150 billion convertible offering carries a 1.625% rate.
5. **Constellation growth targets about 45 satellites** The network has 13 spacecraft in orbit, BlueBirds 14, 15, and 16 are ready to ship shortly, and the company targets approximately 45 satellites in orbit in early 2027. Shipment timing depends on factors the company says are often beyond its control.

## Questions

**What were AST SpaceMobile's Q2 2026 results?** Revenue was $31.5 million, and net loss per share was $(0.77). Net loss attributable to common stockholders was $(230,909) thousand.
**What is AST SpaceMobile's 2026 revenue guidance?** Management expects full year 2026 revenue of $150.0 million to $200.0 million and says it is on track. First-half 2026 revenue was $46,255 thousand.
**Why did operating expenses rise in the quarter?** Total operating expenses were $329.1 million, up $165.0 million from the first quarter. Most of the increase was a $125.9 million loss on involuntary conversion, plus a $20.3 million increase in general and administrative costs.
**How much cash does the company have?** It had approximately $2.7 billion in cash, cash equivalents, and restricted cash at June 30, 2026, and over $3.7 billion pro forma for the July convertible notes offering. That offering raised $1.150 billion of gross proceeds.
**How far along is the satellite network?** There are 13 spacecraft in orbit, and BlueBirds 14, 15, and 16 are ready to ship shortly. The company targets approximately 45 satellites in orbit in early 2027 and is preparing for beta service in 2026.

## Slides and investor documents

- [AST Q2 2026 Earnings Presentation](https://irp.cdn-website.com/bbb776b9/files/uploaded/AST+SpaceMobile+Q2+2026+Business+Update_vF.pdf) (Slide deck)