AST SpaceMobile Inc. (NASDAQ:ASTS) posted its second-quarter results after Monday’s closing bell, missing analyst estimates on the top and bottom lines. Here’s a look at the details inside the report.
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AST SpaceMobile Q2 Details
AST SpaceMobile reported quarterly losses of 77 cents per share, missing the Street estimate for losses of 28 cents, according to Benzinga Pro data.
Quarterly revenue came in at $31.52 million, below the Street estimate of $34.98 million.
Revenue backlog increased to approximately $1.3 billion in aggregate contracted revenue with commercial partners and contract awards with the U.S. Government
“AST SpaceMobile’s differentiated technology platform and deep intellectual property portfolio, partner-first mobile network operator strategy, vertically integrated manufacturing capabilities, and comprehensive spectrum strategy are foundational to the space-based cellular broadband market we invented,” said Abel Avellan, AST SpaceMobile’s Chairman and CEO.
Looking Ahead
AST SpaceMobile reaffirmed its fiscal revenue outlook of between $150 million and $200 million, versus the $168.88 million estimate.
ASTS Stock Price Activity: According to data from Benzinga Pro, AST SpaceMobile stock was down 1.42% to $67.60 in Monday’s extended trading.
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