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AST SpaceMobileASTS

$18.7B market cap
AST SpaceMobileASTS
Revenue

Revenue: is the business selling more than it used to?

$71M+413% YoYFY 2025

0.00$50M$100M2020202120222023202420252026$115M

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Revenue reached $71M in 2025, compounding +72% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $115M, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Net income

Net income: how much of that revenue becomes profit?

$-342MFY 2025

$-500M$-250M0.0020202021$-31M20222023202420252026$-619M

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

The company lost $342M in 2025, more than the $300M it lost the year before. The losses are widening - check the Health chapter for how long the cash lasts.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Growth rate

How fast is it growing, year by year?

+413.0%revenue growth, FY 2025

0.0%200%400%2021202220232025Revenue growth 413%

Revenue grew +413% in 2025 against a five-year average of +108%.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Free cash flow

Free cash flow: what is left in real cash after everything?

$-1.1BFY 2025

$-1.0B0.002020$-31M202120222023202420252026$-1.6B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

The business consumed $1.1B of cash in 2025 after investment. Growth is being funded from the balance sheet, not from operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Cash conversion

How much of every sales dollar ends up as free cash?

-2000%-1000%0.0%2020-518%20212022202420252026-1421%

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Free cash flow is negative, so no share of revenue is currently converting to spare cash. Every sales dollar is being reinvested or consumed.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Spending intensity

What does staying competitive cost, per dollar of sales?

0.0%1000%2020202120222024202520261295%26%128%

2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year

The biggest claim on each sales dollar is capital spending, at 1501% of revenue (stock compensation 67%, research and development 40%). That share has risen since 2022, so the cost of competing is climbing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Margins

Margins: of every $1 of sales, how much survives each cost layer?

-2000%-1000%0.0%2020202120222024202520260.0%-2.1%-537%

2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year

Net margin stands at -482% in 2025. ASTS doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Returns on capital

What does it earn on the money it uses?

-1000%-500%0.0%2020202120222023202420252026-26%-11%

2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year

ROE of -26% and ROCE of -1% sit close together, so the returns come from the business itself rather than from borrowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Valuation history

What has the market paid for ASTS over time?

162.0xP/S today

0.005.0020232024202520263-year median 3.2xP/B 7.79

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

ASTS doesn't have enough trading history yet to compare today's price against its own past.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Free cash flow yield

What cash return does the business throw off per dollar of market value?

-8.8%FCF yield today

-50%0.0%20232024202520263-year median -13.8%FCF yield -8.8%

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

Every dollar of market value currently buys -8.8% of annual free cash flow, less than its 3-year median of -13.8% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Debt & cash

Could it handle its debt if things went wrong?

0.00$2.0B$4.0B20192020202120222023202420252026$3.0B$4.6B

Debt of $3.0B sits against $2.3B of cash, or 1.2x shareholders' equity. Earnings don't currently cover the interest bill at all.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Shareholders' equity

Is the company's own capital growing?

0.00$1.0B$2.0B20192020202120222023202420252026$2.4B

The company's own capital grew from $214M in 2023 to $2.4B (+1023%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

AST SpaceMobileASTS
Insider flow

Are the people running it buying or selling?

$200M0.00May '25Apr '26May '26Jun '26Aug '26

Insiders bought $619,200 and sold $284M on the open market, a net sale of $283M. A further 35 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

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