Loading...
•
Jun 30, 2023
AST SpaceMobile Q2 2023 Earnings Report
Confirmed space-based 4G LTE cellular broadband capabilities and completed interim financing package.
Key Takeaways
AST SpaceMobile achieved space-based 4G LTE cellular broadband capabilities to everyday smartphones, reaching speeds above 10 Mbps during BlueWalker 3 testing. They completed a comprehensive financing package providing up to $179 million of cash and liquidity.
Confirmed space-based 4G LTE cellular broadband capabilities to everyday smartphones, reaching speeds above 10 Mbps during BlueWalker 3 testing.
Continued commercial and regulatory progress, with 40+ MOUs and agreements with mobile network operators globally that have ~2.4 billion subscribers.
Block 1 BlueBird program is fully-funded, with manufacturing underway and ramping ahead of the planned launch in Q1 2024 of our first five commercial satellites.
Raised cash and liquidity of up to $179 million, with a comprehensive financing package of non-dilutive debt and equity designed to support strategic investment process.
AST SpaceMobile
AST SpaceMobile
Forward Guidance
AST SpaceMobile is focused on manufacturing BlueBird satellites and plans to offer initial commercial service in 2024.
Positive Outlook
- First five satellites are fully-funded with a planned launch in Q1 2024.
- Targeting to offer initial commercial service in 2024.
- Received multiple indications of interest for strategic investments.
- Strategic investments include both equity-linked and non-dilutive commercial payments.
- Prospective capital raise are intended to fund the manufacturing and launch of additional BlueBird satellites launches beyond our first five commercial satellites.
Challenges Ahead
- Ongoing testing of the BW3 satellite may not be completed due to a variety of factors.
- BW3 testing may indicate adjustments that are needed or modifications that must be made.
- Delays or issues with additional testing, it may become more costly to raise capital
- Ability to finance its research and development activities.
- Commercial partnership acquisition and retention.