Two space infrastructure companies are attracting serious investor attention in 2026, each pursuing radically different but equally ambitious visions for the future of space commerce.
AST SpaceMobile (ASTS) is building a direct-to-cellular broadband network capable of delivering calls, texts, data, and live video streaming directly to standard mobile phones.
The company’s Block 2 BlueBird satellites carry the largest commercial phased-array antennas ever deployed in low Earth orbit, measuring up to 2,400 square feet per unit.
AST SpaceMobile booked $70.9 million in revenues in 2025, a figure that looks modest but sets the stage for dramatic growth in the year ahead.
The company projects 2026 revenues in the range of $150 million to $200 million, more than doubling its prior-year results if it hits the midpoint of that guidance.
Its existing backlog already covers roughly half of its full-year revenue target, giving investors some confidence that the guidance is grounded in real contracted business.
However, AST SpaceMobile posted $191 million in net losses during the first quarter alone, a sharp reminder that the company remains firmly in its cash-burning start-up phase.
The company does maintain substantial cash reserves on its balance sheet, which analysts say should carry it through the early stages before it reaches profitability.
Intuitive Machines (LUNR) operates in a completely different corner of the space economy, having become the only commercial company to successfully land a spacecraft on the Moon.
The Houston-based firm is actively constructing the communications and logistics infrastructure intended to underpin a growing lunar economy over the coming decade.
Intuitive Machines recently closed its acquisition of spacecraft manufacturer Lanteris Space Systems, a deal that dramatically reshaped its financial profile almost overnight.
The Lanteris acquisition drove record quarterly revenue of $186.7 million in the first quarter of 2026, nearly three times higher than the company had previously reported in any single quarter.
Intuitive Machines also announced it is acquiring Goonhilly Earth Station as part of its strategy to build a permanent deep-space communications network with global reach.
The company’s backlog stood at $1.055 billion heading into the first quarter and has since grown to $1.1 billion, reflecting an increase of $852 million from the end of last year.
Both companies represent high-risk, high-reward bets on the long-term commercialization of space, but they differ sharply in their revenue scale, business models, and paths to profitability.
