AST SpaceMobile Inc (NASDAQ:ASTS) reported fourth-quarter financial results after the market close on Monday. Here’s a rundown of the results.
Q4 Earnings: AST SpaceMobile reported fourth-quarter sales of $1.92 million. The company reported a fourth-quarter adjusted loss of 18 cents per share, missing analyst estimates for a loss of 17 cents per share, according to Benzinga Pro.
AST SpaceMobile highlighted several achievements during the quarter, including new commercial agreements with Vodafone and the U.S. government, operational status for its first five BlueBird satellites and accelerated manufacturing capabilities.
Total operating expenses for the fourth quarter were $60.6 million. The company said it ended the quarter with $567.5 million in cash, cash equivalents and restricted cash.
“2024 was a milestone year for AST SpaceMobile, and we enter 2025 even better positioned to lead the emerging direct-to-device satellite communications industry that we invented,” said Abel Avellan, founder, chairman and CEO of AST SpaceMobile.
“We are laser-focused on building and deploying satellites and expanding our commercial agreements during 2025, moving toward commercial-scale revenues. Our vision has never been clearer, and we believe we have the resources and capabilities to execute our plans.”
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AST SpaceMobile executives will further discuss the quarter on a call with investors and analysts at 5 p.m. ET.
ASTS Price Action: AST SpaceMobile shares were up 0.3% after hours, trading at $25.72 at the time of publication Monday, according to Benzinga Pro.
Photo: courtesy of AST SpaceMobile.
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