Ast Spacemobile Inc Financials
This page shows Ast Spacemobile Inc (ASTS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Ast Spacemobile Inc's revenue surged 413.0% year-over-year to $70.9M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Ast Spacemobile Inc carries a low D/E ratio of 0.92, meaning only $0.92 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 16.35, Ast Spacemobile Inc holds $16.35 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Ast Spacemobile Inc generated -$71.5M in operating cash flow, capex of $1.1B consumed most of it, leaving -$1.1B in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Ast Spacemobile Inc generates a -14.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -44.9% the prior year.
Ast Spacemobile Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ast Spacemobile Inc generates $0.21 in operating cash flow (-$71.5M OCF vs -$341.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Ast Spacemobile Inc generated $70.9M in revenue in fiscal year 2025. This represents an increase of 413.0% from the prior year.
Ast Spacemobile Inc reported -$341.9M in net income in fiscal year 2025. This represents a decrease of 13.9% from the prior year.
Cash & Balance Sheet
Ast Spacemobile Inc generated -$1.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 278.4% from the prior year.
Ast Spacemobile Inc held $2.3B in cash against $2.2B in long-term debt as of fiscal year 2025.
Margins & Returns
Ast Spacemobile Inc's net profit margin was -482.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1688.4 percentage points from the prior year.
Ast Spacemobile Inc's ROE was -14.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 30.6 percentage points from the prior year.
Capital Allocation
Ast Spacemobile Inc invested $28.1M in research and development in fiscal year 2025. This represents a decrease of 2.3% from the prior year.
Ast Spacemobile Inc invested $1.1B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 511.5% from the prior year.
ASTS Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $54.3M+268.4% | $14.7M+1175.0% | $1.2M+61.0% | $718K-93.7% | $11.3M+929.5% | $1.1M+22.2% | $900K+80.0% | $500K |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $9.1M+63.8% | $5.5M-13.5% | $6.4M-10.4% | $7.1M+33.6% | $5.3M-63.7% | $14.7M+230.1% | $4.5M+4.8% | $4.3M |
| SG&A Expenses | $26.2M-12.0% | $29.8M+9.5% | $27.2M+48.2% | $18.4M+15.7% | $15.9M+2.2% | $15.6M-12.8% | $17.8M+45.2% | $12.3M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $15.7M+175.4% | $5.7M0.0% | $5.7M+21.3% | $4.7M+17.5% | $4.0M-25.9% | $5.4M+10.2% | $4.9M+11.4% | $4.4M |
| Income Tax | $2.6M+598.9% | $374K-49.6% | $742K+341.7% | $168K+7.0% | $157K-75.7% | $646K+179.7% | $231K-21.4% | $294K |
| Net Income | -$74.0M+39.8% | -$122.9M-23.6% | -$99.4M-117.5% | -$45.7M-27.5% | -$35.9M+79.1% | -$171.9M-137.0% | -$72.5M-267.7% | -$19.7M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ASTS Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.0B+96.6% | $2.6B+35.6% | $1.9B+37.4% | $1.4B+43.5% | $954.6M+16.2% | $821.6M+41.8% | $579.6M+15.5% | $501.7M |
| Current Assets | $2.5B+92.5% | $1.3B+31.2% | $973.2M+8.8% | $894.6M+49.0% | $600.2M+10.0% | $545.6M+73.1% | $315.2M+31.6% | $239.5M |
| Cash & Equivalents | $2.3B+93.9% | $1.2B+30.4% | $923.6M+5.7% | $873.8M+54.7% | $565.0M+9.4% | $516.4M+81.1% | $285.1M+35.8% | $210.0M |
| Inventory | $12.0M+10.3% | $10.9M | N/A | N/A | $1.1M | N/A | N/A | N/A |
| Accounts Receivable | $37.7M+228.3% | $11.5M | N/A | N/A | $1.4M | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.6B+183.5% | $924.9M+27.8% | $723.6M+20.0% | $603.0M+111.3% | $285.4M-10.5% | $318.8M-5.6% | $337.8M+56.5% | $215.9M |
| Current Liabilities | $150.3M+12.6% | $133.6M+12.9% | $118.3M+40.5% | $84.2M+10.9% | $75.9M-19.3% | $94.1M+90.5% | $49.4M+54.9% | $31.9M |
| Long-Term Debt | $2.2B+216.4% | $697.6M+44.6% | $482.5M+4.4% | $462.2M+197.1% | $155.6M-0.4% | $156.3M-21.7% | $199.5M+24.1% | $160.8M |
| Total Equity | $2.4B+47.1% | $1.6B+40.4% | $1.2B+51.0% | $766.7M+14.6% | $669.1M+33.1% | $502.8M+107.9% | $241.9M-15.4% | $285.8M |
| Retained Earnings | -$831.7M-9.8% | -$757.7M-19.4% | -$634.8M-18.6% | -$535.5M-9.3% | -$489.7M-7.9% | -$453.9M-61.0% | -$281.9M-34.6% | -$209.4M |
ASTS Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $65.0M+200.8% | -$64.5M-48.3% | -$43.5M-52.3% | -$28.5M-0.4% | -$28.4M+14.9% | -$33.4M-107.0% | -$16.2M+66.4% | -$48.1M |
| Capital Expenditures | $395.7M+66.0% | $238.4M-23.1% | $310.2M+157.5% | $120.5M+46.8% | $82.0M+170.5% | $30.3M+36.6% | $22.2M-43.9% | $39.6M |
| Free Cash Flow | -$330.7M-9.2% | -$302.9M+14.4% | -$353.6M-137.3% | -$149.0M-34.9% | -$110.5M-73.3% | -$63.8M-66.2% | -$38.4M+56.3% | -$87.7M |
| Investing Cash Flow | -$844.1M-216.9% | -$266.4M+14.1% | -$310.2M-157.5% | -$120.5M-46.8% | -$82.0M-170.5% | -$30.3M-36.6% | -$22.2M+43.9% | -$39.6M |
| Financing Cash Flow | $2.3B+282.8% | $611.4M+45.7% | $419.8M-7.9% | $455.9M+185.7% | $159.5M-45.9% | $294.7M+159.5% | $113.6M-46.5% | $212.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ASTS Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -136.2%+697.5pp | -833.7%+7764.4pp | -8598.1%-2232.4pp | -6365.7%-6049.1pp | -316.6%+15314.8pp | -15631.5%-7570.3pp | -8061.1%-4115.1pp | -3946.0% |
| Return on Equity | -3.1%+4.5pp | -7.6%+1.0pp | -8.6%-2.6pp | -6.0%-0.6pp | -5.4%+28.8pp | -34.2%-4.2pp | -30.0%-23.1pp | -6.9% |
| Return on Assets | -1.5%+3.3pp | -4.8%+0.5pp | -5.3%-1.9pp | -3.3%+0.4pp | -3.8%+17.2pp | -20.9%-8.4pp | -12.5%-8.6pp | -3.9% |
| Current Ratio | 16.35+6.8 | 9.56+1.3 | 8.23-2.4 | 10.62+2.7 | 7.90+2.1 | 5.80-0.6 | 6.38-1.1 | 7.51 |
| Debt-to-Equity | 0.92+0.5 | 0.43+0.0 | 0.42-0.2 | 0.60+0.4 | 0.23-0.1 | 0.31-0.5 | 0.82+0.3 | 0.56 |
| FCF Margin | -609.0%+1446.0pp | -2055.0%+28537.0pp | -30592.0%-9839.7pp | -20752.4%-19776.9pp | -975.5%+4820.3pp | -5795.8%-1534.3pp | -4261.6%+13276.4pp | -17538.0% |
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Frequently Asked Questions
What is Ast Spacemobile Inc's annual revenue?
Ast Spacemobile Inc (ASTS) reported $70.9M in total revenue for fiscal year 2025. This represents a 413.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ast Spacemobile Inc's revenue growing?
Ast Spacemobile Inc (ASTS) revenue grew by 413% year-over-year, from $13.8M to $70.9M in fiscal year 2025.
Is Ast Spacemobile Inc profitable?
No, Ast Spacemobile Inc (ASTS) reported a net income of -$341.9M in fiscal year 2025, with a net profit margin of -482.2%.
How much debt does Ast Spacemobile Inc have?
As of fiscal year 2025, Ast Spacemobile Inc (ASTS) had $2.3B in cash and equivalents against $2.2B in long-term debt.
What is Ast Spacemobile Inc's net profit margin?
Ast Spacemobile Inc (ASTS) had a net profit margin of -482.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ast Spacemobile Inc's return on equity (ROE)?
Ast Spacemobile Inc (ASTS) has a return on equity of -14.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ast Spacemobile Inc's free cash flow?
Ast Spacemobile Inc (ASTS) generated -$1.1B in free cash flow during fiscal year 2025. This represents a -278.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ast Spacemobile Inc's operating cash flow?
Ast Spacemobile Inc (ASTS) generated -$71.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ast Spacemobile Inc's total assets?
Ast Spacemobile Inc (ASTS) had $5.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ast Spacemobile Inc's capital expenditures?
Ast Spacemobile Inc (ASTS) invested $1.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ast Spacemobile Inc spend on research and development?
Ast Spacemobile Inc (ASTS) invested $28.1M in research and development during fiscal year 2025.
What is Ast Spacemobile Inc's current ratio?
Ast Spacemobile Inc (ASTS) had a current ratio of 16.35 as of fiscal year 2025, which is generally considered healthy.
What is Ast Spacemobile Inc's debt-to-equity ratio?
Ast Spacemobile Inc (ASTS) had a debt-to-equity ratio of 0.92 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ast Spacemobile Inc's return on assets (ROA)?
Ast Spacemobile Inc (ASTS) had a return on assets of -6.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ast Spacemobile Inc's cash runway?
Based on fiscal year 2025 data, Ast Spacemobile Inc (ASTS) had $2.3B in cash against an annual operating cash burn of $71.5M. This gives an estimated cash runway of approximately 392 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Ast Spacemobile Inc's Piotroski F-Score?
Ast Spacemobile Inc (ASTS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ast Spacemobile Inc's earnings high quality?
Ast Spacemobile Inc (ASTS) has an earnings quality ratio of 0.21x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ast Spacemobile Inc?
Ast Spacemobile Inc (ASTS) scores 57 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.