By Freddy Sebastian

AST SpaceMobile reported a narrower loss in the third quarter as revenue jumped on the heels of two significant contract wins during the latest period.

The Midland, Texas-based company, whose space-based cellular broadband network is directly accessible for smartphones, posted a loss of $122.9 million, or 45 cents a share, compared with a loss of $172 million, or $1.10 a share, a year earlier.

Meanwhile, revenue climbed to $14.7 million for the three months ended Sept. 30, driven by U.S. government contract miletones and gateway deliveries. Analysts expected revenue of $19.9 million.

Last month, AST SpaceMobile inked a deal with Verizon Communications to provide the carrier's customers with space-based broadband connectivity beginning next year. The company also entered into an agreement with stc Group that covered Saudi Arabia and other key regional markets in the Middle East and North Africa, with a 10-year term and $175 million prepayment for future services.

The Verizon contract expands a partnership from May 2024, the company said.

Looking ahead to the second half of the year, AST SpaceMobile said it expects revenue of $50 million to $75 million.

Write to Freddy Sebastian at freddy.sebastian@wsj.com

(END) Dow Jones Newswires

November 10, 2025 16:51 ET (21:51 GMT)

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