AST SpaceMobile Beats Q4 Earnings Estimates on Healthy Demand Trend

Zacks

03-04

AST SpaceMobile, Inc. ASTS reported modest fourth-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate but revenues missing the same.

Find the latest earnings estimates and surprises on Earnings Calendar.

During the quarter, the company announced the successful deployment of its initial set of five commercial satellites, BlueBirds. Utilizing large phased array antennas, AST SpaceMobile's technology is backed by more than 3,450 patents and patent-pending claims. By connecting directly to standard smartphones at broadband speeds, these advanced phased arrays eliminate the need for special equipment.

Bottom Line

Net loss in the reported quarter was $35.9 million or a loss of 18 cents per share compared with a net loss of $31.9 million or a loss of 35 cents per share in the year-ago quarter. The company reported a non-GAAP net loss of 12 cents per share, beating the Zacks Consensus Estimate by 2 cents.

For 2024, net loss was $300.1 million or a loss of $1.94 per share compared with a net loss of $87.6 million or a loss of 1.07 cents per share in 2023.

AST SpaceMobile, Inc. Price, Consensus and EPS Surprise

AST SpaceMobile, Inc. price-consensus-eps-surprise-chart | AST SpaceMobile, Inc. Quote

Quarterly revenues were $1.92 million, which missed the consensus estimate of $3 million.

For 2024, AST SpaceMobile generated $4.42 million in revenues.

Other Details

In the December quarter, total operating expenses were $60.6 million compared with $60.9 million in the year-ago quarter. Adjusted operating expenses for the fourth quarter of 2024 were $40.8 million, up from $38.6 million in the year-earlier quarter.

Cash Flow & Liquidity

In 2024, the company utilized $126.1 million of cash for operating activities compared with a cash utilization of $148.9 million in the year-ago period. As of Dec. 31, 2024, it had $ 565 million in cash and cash equivalents and long-term debt of $155.6 million compared with respective tallies of $85.6 million and $59.3 million a year ago.

ASTS’ Zacks Rank

AST SpaceMobile currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Methode Electronics MEI is scheduled to release third-quarter fiscal 2025 earnings on March 5. The Zacks Consensus Estimate for earnings is pegged at a loss of 17 cents per share, indicating growth of 48.48% from the year-ago figure.

MongoDB MDB is scheduled to release fourth-quarter fiscal 2025 earnings on March 5. The Zacks Consensus Estimate for earnings is pegged at 64 cents per share, indicating decline of 25.58% from the year-ago figure.

Yext YEXT is scheduled to release fourth-quarter fiscal 2025 earnings on March 5. The Zacks Consensus Estimate for earnings is pegged at 14 cents per share, indicating decline of 40% from the year-ago figure.

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This article originally published on Zacks Investment Research (zacks.com).

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