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Jun 30, 2022
AST SpaceMobile Q2 2022 Earnings Report
AST SpaceMobile provided a business update for the second quarter ended June 30, 2022.
Key Takeaways
AST SpaceMobile reported its Q2 2022 business update, highlighting the completion of the BlueWalker 3 test satellite assembly and its transportation to Cape Canaveral, FL, with a planned launch window in early to mid-September. The company also reported cash and cash equivalents of $202.4 million and an increase in total operating expenses to $35.4 million.
Completed final assembly, integration, and ground transportation of the BlueWalker 3 test satellite to Cape Canaveral, FL, with an upcoming planned launch window for early to mid-September.
Once BlueWalker 3 is operational, testing is planned with MNOs and equipment providers on all 6 inhabited continents.
Next five satellites are under initial phase of component construction, with launch planned in late 2023.
Executed a definitive agreement to sell its majority ownership stake in NanoAvionika UAB, expecting approximately $27 million in net proceeds.
Forward Guidance
The company is focused on the upcoming launch of BlueWalker 3 and preparing for future production of BlueBird satellites.
Positive Outlook
- BlueWalker 3 test satellite is undergoing final preparations for launch in early to mid-September.
- Testing is planned with MNOs and equipment providers on all 6 inhabited continents
- Commercial agreements in place with suppliers for most components of the next five Block 1 BlueBird satellites and next generation satellites
- Announced a five-year 4G LTE/5G technology agreement with Nokia
- Executed a definitive agreement to sell its majority ownership stake in NanoAvionika UAB
Challenges Ahead
- The actual launch date remains subject to change and is contingent on a number of factors
- Total operating expenses increased by $2.7 million to $35.4 million for the second quarter of 2022
- Loss before income tax expense (7,972 )
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