AST SpaceMobile, Inc. (NASDAQ: ASTS) saw its stock price plummet 5.08% in after-hours trading on Monday following the release of its first quarter 2025 financial results, which fell short of analyst expectations.

The space-based cellular broadband network company reported quarterly revenue of $718,000, significantly missing the analyst consensus estimate of $4.2 million. While this represents a 43.60% increase from the $500,000 reported in the same period last year, it fell far short of market expectations. The company's earnings per share (EPS) came in at a loss of $(0.20), wider than the anticipated loss of $(0.18) and a 25% increase in losses compared to the $(0.16) per share reported a year ago.

AST SpaceMobile's financial performance was further marred by high operating expenses, which reached $63.681 million for the quarter. The company also reported a pretax loss of $63.46 million, highlighting the challenges it faces in its pursuit of building a space-based cellular broadband network. Despite these setbacks, AST SpaceMobile's management maintains that they are progressing with their strategy, though investors seem to be expressing concerns about the company's financial trajectory and ability to meet market expectations.