AST SpaceMobile Inc

Latest Results (20.11.2025):

AST SpaceMobile Inc — Quarter ended September 30, 2025 (Q3 2025): The company reported a sharp revenue increase for Q3 2025, with revenues of $14,739 versus $1,100 in Q3 2024, but remained loss-making. Net loss attributable to common stockholders for the quarter was $122,874 (basic and diluted loss per share $0.45), improved versus Q3 2024. Cash and cash equivalents rose to $1,204,282 and total assets to $2,550,902. The company’s balance sheet also shows materially higher long‑term debt and larger noncontrolling interest. (All numbers are as reported in the company’s Form 10‑Q; amounts presented in the filing are in thousands.)

Revenue

Q3 2025 revenue was $14,739 compared with $1,100 in Q3 2024. Nine‑month revenue was $16,613 versus $2,500 in the prior year period. The quarter also shows a new cost of revenues line of $5,511 for Q3 2025.

Net loss and EPS

Loss before income tax for Q3 2025 was $163,453. Net loss attributable to common stockholders for the quarter was $122,874 (basic and diluted loss per share $0.45) versus a loss of $171,946 (loss per share $1.10) in Q3 2024. For the nine months ended September 30, 2025 net loss attributable to common stockholders was $267,974 versus $264,226 in the prior year nine‑month period.

Operating expenses

Total operating expenses for Q3 2025 were $94,415 (up from $66,646 in Q3 2024). Major components: engineering services costs $40,836, general and administrative $29,822, cost of revenues $5,511, research and development $5,530, and depreciation & amortization $12,716 for the quarter.

Cash, liquidity and interest

Cash and cash equivalents increased to $1,204,282 (from $564,988 at Dec 31, 2024). Restricted cash was $15,841. Interest income for the quarter was $12,239 while interest expense was $7,545.

Balance sheet and assets

Total assets were $2,550,902 compared with $954,561 at year‑end 2024. Notable increases: property and equipment, net $1,007,844 (from $337,669) and intangible assets, net $213,766 (not present at Dec 31, 2024). Current assets totaled $1,277,003.

Debt, warrant liabilities and contract liabilities

Long‑term debt, net was $697,628 (up from $155,573 at Dec 31, 2024); current portion of long‑term debt $8,947. Warrant liabilities decreased to $4,616 from $41,248 (Q3 2025 recorded a gain on remeasurement of $2,938, while the nine‑month period shows a $65,300 loss on remeasurement). Current contract liabilities were $23,067 and non‑current contract liabilities $43,497.

Noncontrolling interest and equity

Net loss attributable to noncontrolling interest for Q3 2025 was $40,953. Noncontrolling interest on the balance sheet increased to $385,551 (from $190,031 at Dec 31, 2024). Total stockholders’ equity was $1,626,018 and accumulated deficit widened to $757,719.

Shares outstanding and per‑share impact

Weighted‑average shares outstanding (basic and diluted) for Q3 2025 were 272,831,168 (versus 155,644,888 in Q3 2024), which contributed to the lower magnitude of loss per share versus the prior year despite continued net losses.