Reported revenue of $70.9 million for the full year 2025, driven by mobile network operator partners and the U.S. Government
Secured over $1.2 billion in aggregate contracted revenue commitments from partners
Successfully completed unfolding of BlueBird 6, the largest commercial communications array ever deployed in low Earth orbit, expected to greatly exceed 120 Mbps peak data speeds
Continued orbital launch campaign with encapsulation of BlueBird 7 at Cape Canaveral in February and expected launch during March, with additional launches expected every one to two months on average to reach goal of 45 to 60 satellites in orbit by end of 2026
MIDLAND, Texas--(BUSINESS WIRE)--March 02, 2026--
AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the fourth quarter and full year ended December 31, 2025.
"For the first time in 2025, AST SpaceMobile became a revenue generating business and it significantly advanced all key aspects of our operations including commercial, government, manufacturing, spectrum rights, IP portfolio, and capital position," commented Abel Avellan, AST SpaceMobile's Chairman and Chief Executive Officer. "In 2026, we expect to scale our space-based direct-to-device network from initial commercial activation toward the start of broader commercial service."
Business Update
-- Reported revenue of $70.9 million for the full year 2025, driven by
mobile network operator partners and the U.S. Government
-- Product revenue underpinned by delivery of 15 gateways across
five continents
-- Service revenue across multiple contracts and use cases under
development with the U.S. Government
-- Revenue expected to grow during 2026 ahead of commercial service
activation, supported by backlog of mobile network operator
partner revenue and U.S. Government contract milestones
-- Continued orbital launch campaign with encapsulation of BlueBird 7 at
Cape Canaveral in February and expected launch during March, with
additional launches expected every one to two months on average to reach
goal of 45 to 60 satellites in orbit by end of 2026
-- Successfully completed unfolding of BlueBird 6, the largest
commercial communications array antenna ever deployed in LEO,
expected to greatly exceed the 120 Mbps peak data speeds
-- BlueBird 8 to BlueBird 29 are in various stages of production
and expect to complete assembly of 40 satellites equivalent of
microns by first half of 2026
-- Acquired fourth site in Midland, Texas for dedicated micron
production, increasing total manufacturing square footage soon to
be over 500,000 globally
-- Continued to grow partner ecosystem through multiple agreements as
SpaceMobile network commercialization efforts advance ahead of scaled
commercial and government activation
-- Secured over $1.2 billion of aggregate contracted revenue
commitments from commercial partners
-- Received $175.0 million commercial prepayment from stc Group as
part of 10-year, regional definitive commercial agreement
-- Expanded commercial partnerships globally with Orange,
Telefonica, CK Hutchison, Taiwan Mobile, Sunrise, and progressed
initiatives with Vodafone
-- Awarded $30.0 million prime contract award by the Space
Development Agency for HALO Europa Track 2 commercial solutions
program as demand for differentiated on-orbit capabilities and
tactical use cases grows
-- Awarded prime contract position on U.S. Missile Defense Agency
SHIELD Program
-- Robust balance sheet with over $3.9 billion in cash, cash equivalents,
restricted cash and liquidity, pro forma for the convertible notes
offering and availability under the ATM facility (as of December 31,
2025)
-- In February 2026, raised $1.075 billion of gross proceeds from a
new 10-year convertible senior notes offering, with a 2.250%
coupon and effective conversion price of $116.30 per share of
Class A common stock
-- In February 2026, efficiently managed capital structure and
financial assets, equitizing $250.0 million of the 2.375%
convertible senior notes due 2032 and $46.5 million of the 4.250%
convertible senior notes due 2032
Fourth Quarter and Full Year 2025 Financial Highlights
-- Fourth quarter revenue of $54.3 million and full year revenue of $70.9
million, driven by gateway deliveries and U.S. Government milestones met
-- Total operating expenses for the fourth quarter of 2025 were $126.6
million, including $30.9 million of depreciation and amortization and
stock-based compensation expense. This represents an increase of $32.2
million as compared to $94.4 million in the third quarter of 2025 due to
a $23.9 million increase in cost of revenues mainly attributable to
increased volume of gateway deliveries, a $5.4 million increase in
engineering services costs, a $3.5 million increase in research and
development costs, and a $3.0 million increase in depreciation and
amortization expense, partially offset by a $3.6 million decrease in
general and administrative costs
-- Adjusted operating expenses(1) for the fourth quarter of 2025 were
$95.7 million, an increase of $28.0 million as compared to $67.7 million
in the third quarter of 2025 due to a $23.4 million increase in Adjusted
cost of revenues(1), a $3.0 million increase in Adjusted engineering
services costs(1), a $3.5 million increase in research and development
costs, partially offset by a $1.9 million decrease in Adjusted general
and administrative costs(1). Our Adjusted operating expenses(1) for the
fourth quarter of 2025 excluding Adjusted cost of revenues(1), was $66.8
million, compared to $62.2 million in the third quarter of 2025
-- As of December 31, 2025, we had cash, cash equivalents, and restricted
cash of $2.8 billion
-- As of December 31, 2025, we had incurred approximately $1.6 billion of
gross capitalized property and equipment costs and accumulated
depreciation and amortization of $173.7 million. The capitalized costs
include costs of satellite materials for BlueBird satellites, advance
launch payments, capital advances, Block 1 and BlueWalker 3 satellites,
assembly and integration facilities including assembly and test equipment,
and ground antennas
(1) See "Non-GAAP Financial Measures" below for additional information. See
reconciliation of Adjusted operating expenses to Total operating
expenses, Adjusted cost of revenues to Cost of revenues, Adjusted
engineering services costs to Engineering services costs and Adjusted
general and administrative costs to General and administrative costs in
the tables accompanying this press release.
Non-GAAP Financial Measures
We refer to certain non-GAAP financial measures in this press release, including Adjusted operating expenses, Adjusted cost of revenues, Adjusted engineering services costs and Adjusted general and administrative costs. We believe these non-GAAP financial measures are useful measures across time in evaluating our operating performance as we use these measures to manage the business, including in preparing our annual operating budget and financial projections. These non-GAAP financial measures have no standardized meaning prescribed by U.S. GAAP, and therefore have limits in their usefulness to investors. Because of the non-standardized definitions, these measures may not be comparable to the calculation of similar measures of other companies and are presented solely to provide investors with useful information to more fully understand how management assesses performance. These measures are not, and should not be viewed as, a substitute for their most directly comparable GAAP measures. Reconciliation of non-GAAP financial measures and the most directly comparable GAAP financial measures are included in the tables accompanying this press release.
Conference Call Information
AST SpaceMobile will hold a quarterly business update conference call at 5:00 p.m. (Eastern Time) on Monday, March 2, 2026. The call will be accessible via a live webcast on the Events page of AST SpaceMobile's Investor Relations website at https://ast-science.com/investors/. An archive of the webcast will be available shortly after the call.
About AST SpaceMobile
AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission.
Forward-Looking Statements
This communication contains "forward-looking statements" that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "would," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile's control and are difficult to predict.
Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile's strategies and future financial performance, including AST's future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile's ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile's responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company's filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile's Form 10-K to be filed with the SEC on March 2, 2026.
AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K to be filed with the SEC on March 2, 2026. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Fourth Quarter and Fiscal Year 2025 Financial Results
AST SPACEMOBILE, INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share data)
As of December 31,
----------------------
2025 2024
---------- ---------
ASSETS
Current assets:
Cash and cash equivalents $2,335,683 $ 564,988
Restricted cash 877 2,546
Accounts receivable, net (includes
related party accounts receivable of
$2,091 and $0 at December 31, 2025 and
2024, respectively) 37,726 1,400
Inventory 12,007 1,062
Prepaid expenses 11,955 7,887
Other current assets 60,264 22,363
--------- --------
Total current assets 2,458,512 600,246
Non-current assets:
Restricted cash 443,400 -
Property and equipment, net 1,398,761 337,669
Intangible assets, net 245,093 -
Operating lease right-of-use assets,
net 19,420 14,014
Other non-current assets (includes
related party loan receivable of
$18,187 and $0 at December 31, 2025
and 2024, respectively) 449,201 2,632
--------- --------
TOTAL ASSETS $5,014,387 $ 954,561
========= ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 46,763 $ 17,004
Accrued expenses and other current
liabilities 69,246 12,195
Current contract liabilities 19,887 41,968
Current operating lease liabilities 2,449 1,856
Current portion of long-term debt 11,999 2,919
--------- --------
Total current liabilities 150,344 75,942
Non-current liabilities:
Warrant liabilities 7,471 41,248
Non-current operating lease liabilities 17,479 12,652
Non-current contract liabilities 207,093 -
Long-term debt, net 2,207,583 155,573
Other non-current liabilities 32,092 -
--------- --------
Total liabilities 2,622,062 285,415
Commitments and contingencies
Stockholders' Equity:
Class A Common Stock, $.0001 par value,
800,000,000 shares authorized,
285,449,911 and 208,173,198 shares
issued and outstanding as of December
31, 2025 and 2024, respectively 27 20
Class B Common Stock, $.0001 par value,
200,000,000 shares authorized,
11,227,292 shares issued and
outstanding as of December 31, 2025
and 2024, respectively 4 4
Class C Common Stock, $.0001 par value,
125,000,000 shares authorized,
78,163,078 shares issued and
outstanding as of December 31, 2025
and 2024, respectively 8 8
Additional paid-in capital 2,671,770 969,004
Accumulated other comprehensive income
(loss) 1,351 (176)
Accumulated deficit (831,685) (489,745)
Noncontrolling interest 550,850 190,031
--------- --------
Total stockholders' equity 2,392,325 669,146
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $5,014,387 $ 954,561
========= ========
AST SPACEMOBILE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except share and per share data)
Year Ended December 31,
2025 2024 2023
------------ ------------ -----------
Revenues:
Products revenues (includes
related party revenues of
$2,091, $0 and $0 for the
years ended December 31,
2025, 2024 and 2023
respectively) $ 44,389 $ 500 $ -
Services revenues 26,529 3,918 -
----------- ----------- ----------
Total revenues 70,918 4,418 -
Operating expenses:
Cost of revenues (exclusive
of items shown separately
below)
Cost of revenues -
products (includes
related party cost of
revenues of $1,329, $0
and $0 for the years
ended December 31, 2025,
2024 and 2023,
respectively) 33,032 - -
Cost of revenues -
services 2,184 - -
Engineering services costs 142,510 93,491 78,811
General and administrative
costs 101,679 61,566 41,601
Research and development
costs 28,115 28,783 47,486
Depreciation and
amortization 51,111 63,340 54,469
----------- ----------- ----------
Total operating expenses 358,631 247,180 222,367
Other (expense) income:
(Loss) gain on remeasurement
of warrant liabilities (68,154) (268,627) 8,986
Interest expense (36,071) (18,681) (4,511)
Interest income (includes
related party interest
income of $564, $0 and $0
for the years ended
December 31, 2025, 2024 and
2023, respectively) 49,233 14,164 7,186
Other (expense) income, net (114,408) 1,867 (10,290)
Loss on extinguishment of
debt - (10,963) -
----------- ----------- ----------
Total other (expense)
income, net (169,400) (282,240) 1,371
Loss before income tax expense (457,113) (525,002) (220,996)
Income tax expense (3,898) (1,328) (1,681)
----------- ----------- ----------
Net loss before allocation to
noncontrolling interest (461,011) (526,330) (222,677)
Net loss attributable to
noncontrolling interest (119,071) (226,247) (135,116)
----------- ----------- ----------
Net loss attributable to
common stockholders $ (341,940) $ (300,083) $ (87,561)
=========== =========== ==========
Net loss per share
attributable to holders of
Class A Common Stock
Basic and diluted $ (1.34) $ (1.94) $ (1.07)
Weighted-average number of
shares
Basic and diluted 255,982,592 154,501,344 81,824,122
AST SPACEMOBILE, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Dollars in thousands)
Year Ended December 31,
2025 2024 2023
--------- --------- ---------
Net loss before
allocation to
noncontrolling
interest $(461,011) $(526,330) $(222,677)
Other comprehensive
income (loss)
Foreign currency
translation
adjustments 2,049 (586) (6)
-------- -------- --------
Total other
comprehensive income
(loss) 2,049 (586) (6)
-------- -------- --------
Total comprehensive loss
before allocation to
noncontrolling
interest (458,962) (526,916) (222,683)
Comprehensive loss
attributable to
noncontrolling
interest (118,549) (226,430) (135,120)
-------- -------- --------
Comprehensive loss
attributable to common
stockholders $(340,413) $(300,486) $ (87,563)
======== ======== ========
AST SPACEMOBILE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(Dollars in thousands, except share and per share data)
For the Three Months Ended December 31,
2025 2024 2023
------------ ------------ -----------
Revenues:
Products revenues (includes
related party revenues of
$2,091, $0 and $0 for the
three months ended December
31, 2025, 2024 and 2023
respectively) $ 36,218 $ 500 $ -
Services revenues 18,087 1,418 -
----------- ----------- ----------
Total revenues 54,305 1,918 -
Operating expenses:
Cost of revenues (exclusive
of items shown separately
below)
Cost of revenues -
products (includes
related party cost of
revenues of $1,329, $0
and $0 for the three
months ended December 31,
2025, 2024 and 2023,
respectively) 27,229 - -
Cost of revenues - services 2,184 - -
Engineering services costs 46,164 30,945 19,992
General and administrative
costs 26,231 15,889 10,528
Research and development
costs 9,057 5,348 10,766
Depreciation and
amortization 15,717 8,460 19,592
----------- ----------- ----------
Total operating expenses 126,582 60,642 60,878
Other (expense) income:
(Loss) gain on remeasurement
of warrant liabilities (2,854) 16,212 (12,468)
Interest expense (18,133) (3,949) (3,024)
Interest income (includes
related party interest
income of $564, $0 and $0
for the three months ended
December 31, 2025, 2024 and
2023, respectively) 20,781 5,277 1,389
Other (expense) income, net (22,556) 206 (55)
Loss on extinguishment of
debt - (10,963) -
----------- ----------- ----------
Total other (expense)
income, net (22,762) 6,783 (14,158)
Loss before income tax expense (95,039) (51,941) (75,036)
Income tax expense (2,614) (156) (2,088)
----------- ----------- ----------
Net loss before allocation to
noncontrolling interest (97,653) (52,097) (77,124)
Net loss attributable to
noncontrolling interest (23,687) (16,239) (45,198)
----------- ----------- ----------
Net loss attributable to
common stockholders $ (73,966) $ (35,858) $ (31,926)
=========== =========== ==========
Net loss per share
attributable to holders of
Class A Common Stock
Basic and diluted $ (0.26) $ (0.18) $ (0.35)
Weighted-average number of
shares
Basic and diluted 284,150,650 199,219,379 90,008,459
AST SPACEMOBILE, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)
(Dollars in thousands)
For the Three Months Ended December 31,
2025 2024 2023
------------ ------------- ----------
Net loss before
allocation to
noncontrolling
interest $ (97,653) $ (51,941) $ (77,124)
Other
comprehensive
income
Foreign currency
translation
adjustments 166 190 520
-------- --------- ---------
Total other
comprehensive
income 166 190 520
-------- --------- ---------
Total comprehensive
loss before
allocation to
noncontrolling
interest (97,487) (51,751) (76,604)
Comprehensive
loss
attributable to
noncontrolling
interest (23,698) (16,486) (44,894)
-------- --------- ---------
Comprehensive loss
attributable to
common
stockholders $ (73,789) $ (35,265) $ (31,710)
======== ========= =========
AST SPACEMOBILE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
Years Ended December 31,
2025 2024 2023
----------- --------- ---------
Cash flows from
operating activities:
Net loss before
allocation to
noncontrolling
interest $ (461,011) $(526,330) $(222,677)
Adjustments to
reconcile net loss
before noncontrolling
interest to cash used
in operating
activities:
Depreciation and
amortization 51,111 63,340 54,469
Amortization of debt
issuance costs 2,728 3,734 1,155
Amortization of debt
commitment fee 4,033 - -
Write off of
unamortized debt
issuance costs - 5,483 -
Loss on
disposal/sale of
property and
equipment 4,605 2,221 110
Induced conversion
expense on
convertible notes 99,681 - -
Loss (gain) on
remeasurement of
warrant
liabilities 68,154 268,627 (8,986)
Stock-based
compensation 47,490 32,039 13,289
Non-cash interest
expense 1,361 2,959 -
Non-cash interest
income (564) - -
Loss from equity
method investment 1,205 - -
Changes in operating
assets and
liabilities:
Accounts receivable (36,326) 380 (1,780)
Prepaid expenses and
other current
assets (27,622) (13,334) 13,862
Inventory (10,945) (1,062) -
Accounts payable and
accrued expenses 32,251 (6,257) (149)
Contract liabilities 161,516 41,968 -
Other assets and
liabilities (9,184) 89 1,765
---------- -------- --------
Net cash used in
operating activities (71,517) (126,143) (148,942)
Cash flows from
investing activities:
Purchase of property
and equipment (1,064,741) (174,127) (118,807)
Capital advances to
Ligado (420,000) - -
Purchase of spectrum
intangibles (56,397) - -
---------- -------- --------
Net cash used in
investing activities (1,541,138) (174,127) (118,807)
Cash flows from
financing activities:
Proceeds from debt 2,611,523 145,000 63,500
Repayments of debt (5,120) (48,752) (242)
Payment for debt
issuance costs (11,588) (9,435) (9,653)
Proceeds from issuance
of common stock 1,295,894 551,947 64,639
Payments for third
party equity issuance
costs (24,320) (12,151) (872)
Proceeds from warrant
exercises - 153,618 -
Issuance of equity
under employee stock
plan 11,808 4,941 225
Employee taxes paid
for stock-based
compensation awards (23,018) (5,201) (865)
Purchase of capped
call transactions (98,578) - -
Proceeds from capped
call sales 74,522 - -
Payments for debt
commitment fee (11,000) - -
Proceeds from share
issuances to
repurchase 2032 4.25%
Convertible Notes 1,010,887 - -
Payments for
repurchase of 2032
4.25% Convertible
Notes (1,003,522) - -
---------- -------- --------
Net cash provided by
financing activities 3,827,488 779,967 116,732
Effect of exchange rate
changes on cash, cash
equivalents and
restricted cash (2,407) (260) (142)
Net increase (decrease)
in cash, cash
equivalents and
restricted cash 2,212,426 479,437 (151,159)
Cash, cash equivalents
and restricted cash
beginning of period 567,534 88,097 239,256
---------- -------- --------
Cash, cash equivalents
and restricted cash end
of period $ 2,779,960 $ 567,534 $ 88,097
========== ======== ========
Supplemental disclosure
of cash flow
information:
Non-cash activities:
Right-of-use assets
obtained in exchange
for operating lease
liabilities $ 7,231 $ 2,238 $ 6,739
Non-cash investing and
financing activities:
Purchases of property
and equipment in
accounts payable and
accrued expenses $ 56,708 $ 9,309 $ 18,409
PIK interest paid
through issuance of
PIK notes 497 2,959 -
Deferred asset
acquisition costs
paid by issuance of
penny warrants 121,156 - -
Spectrum intangibles
acquisition costs
accrued or paid by
issuance of shares 67,540 - -
2034 Convertible Notes
settled by issuance
of Class A Common
Stock 139,620 - -
Settlement of warrant
liabilities by
issuing shares 101,930 257,337 -
Acquisition of equity
investment in and
loan receivable from
SatCo by contributing
exclusive
distribution rights 23,497 - -
Cash paid during the
fiscal year for:
Interest $ 7,855 $ 11,988 $ 3,243
Income taxes, net 6,798 1,669 492
AST SPACEMOBILE, INC. RECONCILIATION OF GAAP REPORTED TO NON-GAAP
ADJUSTED MEASURES (UNAUDITED) (Dollars in thousands)
For the Three Months Ended December 31, 2025
---------------------------------------------
Stock-Based
Compensation
GAAP Reported Expense Adjusted
------------- ------------------ ---------
Cost of revenues
(exclusive of
items shown
below) $ 29,413 $ (459) 28,954
Engineering
services costs 46,164 (10,428) 35,736
General and
administrative
costs 26,231 (4,265) 21,966
Research and
development
costs 9,057 - 9,057
Depreciation and
amortization 15,717 - 15,717
--- -------- ---- ------------ --------
Total
operating
expenses $ 126,582 $ (15,152) $ 111,430
Less:
Depreciation
and
amortization (15,717)
--------
Adjusted
operating
expenses $ 95,713
========
For the Three Months Ended September 30, 2025
---------------------------------------------
Stock-Based
Compensation
GAAP Reported Expense Adjusted
------------- ----------------- ----------
Cost of revenues
(exclusive of
items shown
below) $ 5,511 $ - $ 5,511
Engineering
services costs 40,836 (8,047) 32,789
General and
administrative
costs 29,822 (5,940) 23,882
Research and
development
costs 5,530 - 5,530
Depreciation and
amortization 12,716 - 12,716
--- -------- --- ------------ ---------
Total
operating
expenses $ 94,415 $ (13,987) $ 80,428
Less:
Depreciation
and
amortization (12,716)
---------
Adjusted
operating
expenses $ 67,712
=========
Adjusted operating expenses, Adjusted cost of revenues, Adjusted engineering services costs, and Adjusted general and administrative costs are alternative financial measures used by management to evaluate our operating performance as a supplement to our most directly comparable U.S. GAAP financial measure. We define Adjusted operating expense as Total operating expenses adjusted to exclude amounts of stock-based compensation expense and depreciation and amortization expense. We define Adjusted cost of revenues, Adjusted engineering services costs, and Adjusted general and administrative costs, as cost of revenues, engineering services costs, and general and administrative costs, respectively, adjusted to exclude stock-based compensation expenses.
We believe Adjusted operating expenses, Adjusted cost of revenues, Adjusted engineering services costs, and Adjusted general and administrative costs are useful measures across time in evaluating our operating performance as we use these measures to manage the business, including in preparing our annual operating budget and financial projections. Adjusted operating expenses, Adjusted cost of revenues, Adjusted engineering services costs, and Adjusted general and administrative costs are non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP, and therefore have limits in their usefulness to investors. Because of the non-standardized definitions, these measures may not be comparable to the calculation of similar measures of other companies and are presented solely to provide investors with useful information to more fully understand how management assesses performance. These measures are not, and should not be viewed as, a substitute for their most directly comparable GAAP measure of Total operating expenses, Cost of revenues, Engineering services costs, and General and administrative costs.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260302364918/en/
CONTACT: Investor Contact:
Scott Wisniewski
investors@ast-science.com
Media Contact:
Allison
Eva Murphy Ryan
917-547-7289
ASTSpaceMobile@allisonpr.com
(END) Dow Jones Newswires
March 02, 2026 16:32 ET (21:32 GMT)