AST SpaceMobile Inc (NASDAQ: ASTS) reported a wider-than-expected adjusted loss and revenue below analyst estimates for the second quarter ended June 30, 2026.
The company posted an adjusted loss of $0.77 per share, compared with analyst estimates ranging from a loss of about $0.26 to $0.32 per share.
Revenue climbed to $31.5 million from approximately $15.8 million in the first quarter, but still fell short of analyst expectations of roughly $35 million.
AST SpaceMobile attributed its second-quarter revenue to gateway deliveries and milestones achieved under US government programs.
Total operating expenses surged to $329.1 million in the quarter, up $165 million from $164.1 million in the first quarter, driven partly by a $125.9 million loss on involuntary conversion.
Higher general and administrative costs, cost of revenues, engineering services costs, depreciation and amortization, and research and development expenses also contributed to the sharp increase in total operating costs.
Adjusted operating expenses rose to $119.1 million from $91.2 million in the prior quarter, with adjusted operating expenses excluding cost of revenues reaching $95.9 million versus $79.8 million previously.
Despite the quarterly miss, AST SpaceMobile reaffirmed its full-year 2026 revenue guidance of $150 million to $200 million, signaling continued confidence in its growth trajectory.
The company reported partnerships with more than 60 mobile network operators globally, with those carriers collectively serving more than 3 billion subscribers worldwide.
Its revenue backlog has grown to approximately $1.30 billion in aggregate contracted revenue, combining commitments from commercial partners and contract awards with the US government.
AST SpaceMobile now has 13 spacecraft in orbit following the recent launch of BlueBirds 11, 12, and 13, with BlueBirds 14, 15, and 16 being prepared for shipment and production continuing through BlueBird 46.
The company said it is preparing to initiate beta services with select strategic partners as it continues expanding its satellite constellation.
Shares of ASTS traded up 1.5% following the earnings release, suggesting investors remained cautiously optimistic about the company’s longer-term outlook.
