AST SpaceMobile Inc. [NASDAQ: ASTS] reported first-quarter 2026 results that came in significantly below analyst forecasts on both the top and bottom lines, but the stock rose more than 4% in aftermarket trading as management reiterated its full-year revenue guidance and outlined continued progress across satellite manufacturing, regulatory approvals, and government contracts.
Revenue for the quarter came in at $14.7 million, well below the consensus estimate of $37.48 million, while the earnings per share loss of $0.66 was materially wider than the forecast loss of $0.21.
Management attributed the shortfalls to the timing of gateway deployments to commercial customers and the milestone schedule of certain US government contracts, rather than any structural deterioration in the business.
The company held its 2026 full-year revenue guidance of $150 million to $200 million, stating that revenue is expected to grow sequentially each quarter through the year as commercial gateway sales and government contract milestones build.
On the operational front, CEO Abel Avellan disclosed that AST SpaceMobile achieved a new peak data speed of 98.9 megabits per second using its in-orbit Block 1 BlueBird satellites, transmitted directly to unmodified off-the-shelf smartphones over international waters without any firmware or software modifications to the devices.
Avellan said Block 2 satellites, including BlueBird 8, 9, and 10, are expected to nearly double that peak data speed once deployed, while the company’s custom ASIC chip, which processes up to 10 gigahertz of bandwidth per satellite compared to 1 gigahertz on FPGA units, will further expand network capacity.
The company disclosed it is in advanced production stages on satellites through BlueBird 33, with phased arrays completed through BlueBird 28, and is targeting a manufacturing rate of six fully assembled satellites per month.
Three additional BlueBird satellites are scheduled to launch aboard a SpaceX Falcon 9 rocket in mid-June from Cape Canaveral, and the company confirmed a target of approximately 45 satellites in orbit by year-end across multiple launch providers.
AST SpaceMobile holds cash and restricted cash of approximately $3.5 billion, with no plans to raise additional convertible debt in 2026, giving it the balance sheet capacity to complete its constellation build-out without near-term financing risk.
Capital expenditures for Q2 2026 are guided to a range of $575 million to $650 million, elevated partly due to the timing shift of launch contract payments from Q1, and adjusted operating expenses excluding cost of revenues are expected to increase to $85 million to $95 million as the company expands headcount and infrastructure.
