AST SpaceMobile, Inc. (NASDAQ: ASTS) experienced a significant 24-hour plunge of 5.52% on Monday, primarily driven by disappointing first-quarter 2025 financial results that fell short of analyst expectations. The space-based cellular broadband network company's stock price decline reflects investor concerns about its financial performance and growth trajectory.

The company reported quarterly revenue of $718,000, marking a 43.60% increase from the same period last year. However, this figure significantly missed the analyst consensus estimate of $4.2 million by a staggering 82.90%. Additionally, AST SpaceMobile posted a wider loss for the quarter, with earnings per share (EPS) coming in at a loss of $(0.20), compared to the anticipated loss of $(0.18) and a 25% increase in losses from the $(0.16) per share reported a year ago.

Adding to investor concerns, AST SpaceMobile reported high operating expenses of $63.681 million for the quarter and a pretax loss of $63.46 million. These figures highlight the challenges the company faces in its pursuit of building a space-based cellular broadband network while managing costs effectively. Despite the disappointing results, AST SpaceMobile's management maintains that they are progressing with their strategy, though the market reaction suggests investors may require more concrete evidence of the company's progress and path to profitability before regaining confidence in the stock.