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Sep 30, 2023
AST SpaceMobile Q3 2023 Earnings Report
AST SpaceMobile reported its business update for Q3 2023.
Key Takeaways
AST SpaceMobile reported the first-ever space-based 5G cellular broadband connection and is on track to launch its first five commercial satellites in Q1 2024. Total operating expenses for the third quarter of 2023 were $59.0 million and cash, cash equivalents, and restricted cash of $135.7 million.
Demonstrated space-based 5G cellular broadband capabilities.
First five commercial satellites expected to be launched in Q1 2024.
Total and Adjusted Operating Expenses Expected to Decrease by $10 Million to $15 Million Per Quarter Beginning Q1 2024.
IP Portfolio Has Grown to More than 3,100 Patent and Patent Pending Claims Worldwide.
Forward Guidance
AST SpaceMobile expects total and adjusted operating expenses to decrease by $10 million to $15 million per quarter beginning Q1 2024. The expected reduction is driven by completion of Block 1 design and development, substantial completion of the ASIC design, and partial completion of Block 2 design, with no material change in headcount.
Historical Earnings Impact
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