Shares of AST SpaceMobile, Inc. (ASTS) plunged 5.02% during intraday trading on Monday, as investors turned cautious ahead of the company’s second-quarter earnings release and ultimately reacted to disappointing top-line results.

The decline came after the company reported Q2 revenue of $31.52 million, falling short of the IBES consensus estimate of $35 million. The earnings report, released shortly after the market close, also showed a net loss per share of $0.77, further weighing on investor sentiment during the session.

Despite the miss, management reaffirmed its full-year 2026 revenue guidance of $150 million to $200 million, though the weaker-than-expected quarterly performance drove the sharp intraday sell-off.