AST SpaceMobile (ASTS) Earnings Set Phone Service From Space Before Year End
AST SpaceMobile expects to switch on initial, intermittent nationwide phone service from space in the United States and other key markets before the end of 2026. It reported third quarter revenue of $42.3 million and about $3.2 billion in cash on November 9, 2026.
The short answer. AST SpaceMobile builds very large satellites that connect straight to ordinary smartphones. Service will start on and off, not around the clock, with partners in five countries. The company plans about 45 satellites in orbit by mid 2027 and over 100 launched across 2027 and 2028. It also plans its own rocket, Blacklift, from late 2028. Below are the service plan, the satellite count, the results and the cash.
AST SpaceMobile third quarter 2026 at a glance
On this page
Every company reporting the same week, with its date and time, is in StockTitan's Earnings Calendar for the Week of November 9, 2026.
When phone service from space starts
AST SpaceMobile expects initial, intermittent nationwide coverage in key markets by the end of 2026. Intermittent means the signal comes and goes as satellites pass overhead, because there are not yet enough of them for constant coverage.
The first step goes to strategic partners in five countries: the United States, Canada, Japan, Saudi Arabia and the United Kingdom.
The service works through mobile network operators, the phone carriers people already pay. AST SpaceMobile says it expects to work with all major operators in the United States and Europe.
Its wider group of partners covers over 60 operators with over 3 billion subscribers, the company says.
With AT&T, it tested a handover between a ground network and a space network for the first time. That means a phone call or data session moved from a cell tower to a satellite beam, or back, without a break.
The company is aiming for about 100 MHz of spectrum in the United States, the radio frequencies its satellites use. That comes from spectrum its partners share and spectrum it controls. Brazil also granted it approval for commercial service.
How many satellites are up and coming
The company had 13 spacecraft in orbit as of its August 10 update. It now targets about 45 BlueBird satellites in orbit by mid 2027.
BlueBirds 11, 12 and 13 unfolded their antennas and are working in orbit.
The next satellites are lined up like this:
- BlueBirds 14, 15 and 16 reached Cape Canaveral in September 2026. They are waiting for SpaceX to confirm a launch date.
- BlueBirds 17, 18 and 19 are expected to ship by the end of November 2026, for a Blue Origin launch expected early in the first quarter of 2027.
- BlueBirds 20 to 25 ship in December and January, for launches expected in the first quarter of 2027.
Those six launches use a United States priority rating called DPAS. It gives a program for both government and commercial use first claim on suppliers.
Launch agreements now cover over 100 BlueBird satellites, expected to go up across 2027 and 2028. SpaceX, Blue Origin and others are among the launch providers.
On the factory side, the company is building satellites through BlueBird 51 in two Texas factories running full shifts. It expects to reach six satellites a month in December 2026.
From BlueBird 34, each satellite carries the company's own ASIC, a custom chip. The plan had put it in from BlueBird 50. The company says the chip gives 10 times the processing bandwidth of the first BlueBirds now in orbit.
Blacklift, a rocket of its own
AST SpaceMobile is building Blacklift, a reusable rocket that can lift 20 tons. The company plans to start carrying BlueBird satellites to low Earth orbit with it in late 2028.
Each Blacklift launch can carry up to five BlueBird satellites. The rocket uses the Miranda and Vira engines. The company says that engine design has over a decade of development and has flown before.
Chief Executive Abel Avellan said the rocket "is intended to provide greater control over launch availability, deployment schedules, and attractive ownership economics."
The release's list of risks names the proposed deals with Firefly Aerospace and the engine technology it licenses. It says the company may not build its own rockets on time, or at all.
Revenue and the 2026 goal
Revenue rose to $42.3 million in the third quarter. The company says it remains on target for its revenue goal for all of 2026.
Revenue was $31.5 million in the second quarter and $14.7 million a year earlier. The 2026 goal is $150 million to $200 million.
The sales came mostly from gateway deliveries and United States government milestones. A gateway is the ground station that links the satellites to a carrier's network.
Products brought in $20.6 million and services $21.8 million.
The company sees upside to its 2026 goal from recent contracts. One is a U.S. Space Force contract for sensing from space, with about $100 million in revenue. It now has 16 United States government awards.
Cash, spending and debt
AST SpaceMobile held about $3.2 billion in cash at the end of September. Its long term debt grew to $4.08 billion over the first nine months of 2026.
The cash figure counts cash, cash equivalents and restricted cash on September 30, 2026. Long term debt was $2.21 billion at the end of 2025.
Total operating expenses were $211.0 million in the quarter. That includes $77.4 million of depreciation, amortization and stock pay, which use no cash in the quarter.
The company's adjusted operating expenses, which leave those out, were $133.6 million, up from $119.1 million in the second quarter.
The net loss for shareholders was $132.4 million, or $0.44 a share. A year earlier it was $122.9 million, or $0.45 a share.
Over the first nine months of 2026, operations used $314.5 million of cash. The company spent $1.15 billion on property and equipment, mostly satellites, launches and factories.
It expects more money that does not create new shares. That includes about $1.0 billion from the Japanese government program below, and a pipeline of about $1.2 billion of U.S. quasi-government financing for 2027.
The Rakuten AST joint venture in Japan
Rakuten and AST SpaceMobile agreed on November 6, 2026, Japan time, to set up Rakuten AST. It will run a satellite network that connects phones directly across Japan.
Rakuten Group holds 51% of the voting rights and an AST SpaceMobile subsidiary holds 49%. AST SpaceMobile supplies the satellites.
Japan's Ministry of Internal Affairs and Communications picked the project for its J-LEO program. Rakuten AST expects up to 148 billion yen, about $1 billion, over about three years.
The network uses mid band spectrum and aims to start operating in Japan by the end of March 2029. Separately, Rakuten Mobile plans commercial testing of its satellite to phone service within 2026.
Frequently asked questions
When will AST SpaceMobile service start?
The company expects initial, intermittent nationwide coverage in the United States and other key markets by the end of 2026. The first markets are the United States, Canada, Japan, Saudi Arabia and the United Kingdom.
What was AST SpaceMobile's revenue in Q3 2026?
Revenue was $42.3 million, up from $31.5 million in the second quarter and $14.7 million in the third quarter of 2025.
How many BlueBird satellites are in orbit?
The company reported 13 spacecraft in orbit as of August 10, 2026. It targets about 45 BlueBird satellites in orbit by mid 2027.
How much cash does AST SpaceMobile have?
About $3.2 billion in cash, cash equivalents and restricted cash on September 30, 2026. Long term debt was $4.08 billion.
What is Blacklift?
Blacklift is AST SpaceMobile's own reusable rocket, able to lift 20 tons and carry up to five BlueBird satellites per launch. The company plans its first satellite launches on it in late 2028.
What is Rakuten AST?
It is a joint venture of Rakuten, with 51% of the voting rights, and AST SpaceMobile, with 49%. It will run a satellite to phone network in Japan with up to 148 billion yen, about $1 billion, of government support.
Sources
- AST SpaceMobile Provides Business Update and Third Quarter 2026 Results, StockTitan
- AST SpaceMobile third quarter 2026 business update, Business Wire
- Rakuten and AST SpaceMobile Establish Rakuten AST Joint Venture, StockTitan
- Rakuten AST joint venture release, Business Wire
- AST SpaceMobile Provides Business Update and Second Quarter 2026 Results, StockTitan
The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.