Key Highlights

  • Total revenues were USD 42.3 million, compared with USD 14.7 million.
  • Net loss attributable to common stockholders was USD 132.4 million.
  • Products Revenue was USD 20.6 million and services revenue was USD 21.8 million.
  • Engineering services costs rose USD 55.0 million to USD 95.8 million.

AST SpaceMobile, Inc. (NASDAQ:ASTS) reported third quarter 2026 total revenues of USD 42.3 million, compared with USD 14.7 million a year earlier. Reported EPS was negative USD 0.44, compared with estimates of EPS of negative USD 0.42 and revenue of USD 45.73 million.

Net loss before allocation to noncontrolling interest was USD 171.8 million, compared with USD 163.8 million. The net loss attributable to common stockholders was USD 132.4 million, compared with USD 122.9 million, and the net loss attributable to noncontrolling interest was USD 39.4 million, compared with USD 41.0 million.

Revenue and Cost of Revenue

Products revenues of USD 20.6 million, compared with USD 7.7 million, were primarily from sales of gateway equipment and software to mobile network operators. Services revenues of USD 21.8 million, compared with USD 7.0 million, were primarily from the completion of performance obligations under agreements with the U.S. government.

Cost of revenues for products increased USD 16.9 million to USD 22.5 million. Cost of revenues for services was USD 2.9 million, attributable to labor costs and sales commissions.

Operating Costs and Other Items

Total engineering services costs increased USD 55.0 million to USD 95.8 million. General and administrative costs increased USD 25.9 million, or 87%, to USD 55.7 million, with a USD 21.1 million increase in Payroll and employee-related costs from higher headcount and stock-based compensation. Research and Development costs increased USD 3.6 million, or 64%, to USD 9.1 million. Depreciation and amortization increased USD 12.4 million, or 97%, to USD 25.1 million.

Interest expense increased USD 22.8 million to USD 30.3 million, and interest income increased USD 17.9 million to USD 30.1 million. Other expense, net was USD 6.7 million, compared with USD 91.4 million a year earlier, when the figure included an USD 84.3 million induced conversion expense tied to July 2025 repurchases of the 2032 4.25% Convertible Notes. An income tax benefit of USD 3.8 million was recorded.

The company began depreciating the BB6, BB8, BB9 and BB10 satellites on September 1, 2026 over approximately 84 months, and the Block 1 BB satellites over approximately 60 months from October 29, 2024. The BB7 satellite was written off as a loss on involuntary conversion, net of related insurance recoveries. The noncontrolling interest in AST LLC was approximately 22.9% at September 30, 2026, compared with 23.9% at December 31, 2025.

For the nine months ended September 30, 2026, total revenues were USD 88.6 million, compared with USD 16.6 million. Products revenues were USD 58.4 million and services revenues were USD 30.2 million. Engineering services costs increased USD 170.8 million to USD 267.2 million, general and administrative costs increased USD 87.8 million to USD 163.3 million, research and development costs increased USD 4.9 million, or 26%, to USD 24.0 million, and depreciation and amortization increased USD 28.0 million, or 79%, to USD 63.4 million. Net loss attributable to common stockholders was USD 554.3 million, compared with USD 268.0 million.

Network and Spectrum Background

The company is building a space-based cellular broadband network designed to be accessible directly by standard smartphones. It launched five Block 1 BB satellites on September 12, 2024. Under agreements with Ligado Networks, subject to conditions including regulatory approval, it has long-term access to up to 45 MHz of lower mid-band satellite spectrum in the U.S. and Canada, and an Acquisition completed on September 25, 2025 adds S-Band priority rights for up to 60 MHz of mid-band spectrum globally.

The intellectual property portfolio consists of approximately 3,500 Patent and patent-pending claims worldwide, of which approximately 2,100 have been granted or allowed. The global footprint is approximately 505,000 square feet.

Satellite Costs, Spectrum Approvals and Interest

AST SpaceMobile's quarter showed total revenues of USD 42.3 million and a net loss attributable to common stockholders of USD 132.4 million. The filing attaches regulatory approvals to the Ligado spectrum usage agreements and discloses the satellite depreciation schedule, product and services revenue, engineering services costs and interest expense and income.