Ast Spacemobile Inc Financials
Ast Spacemobile Inc (ASTS) reported $115.3M in revenue over the twelve months to Jun 30, 2026, up 706.3% from the prior twelve months. This page shows its 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).
AST SpaceMobile's dominant mechanic is an externally financed asset buildout that is scaling far faster than reported revenue.
Between FY2024 and FY2025, operating cash burn improved from-$126M to-$72M , which means the income statement alone overstates how much cash routine operations consumed. But capital spending climbed to$1.06B and was covered by financing inflows of$3.83B , so the business behaved more like a construction phase funded from outside than a self-funding operating model.
Short-term liquidity looks unusually strong: cash of
Revenue reached
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ast Spacemobile Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Ast Spacemobile Inc, and counted as zero in the overall score.
Ast Spacemobile Inc passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Ast Spacemobile Inc reported a net loss of $341.9M while operations used $71.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Ast Spacemobile Inc recorded an outflow of $1.1B in free cash flow in fiscal year 2025, representing a cash shortfall 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.
Not reported for fiscal year 2025.
Margins & Returns
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
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.
Not reported for fiscal year 2025.
ASTS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.5M+113.9% | $14.7M-72.9% | $54.3M+268.4% | $14.7M+1175.0% | $1.2M+61.0% | $718K-93.7% | $11.3M+929.5% | $1.1M |
| R&D Expenses | $7.8M+9.0% | $7.1M-21.3% | $9.1M+63.8% | $5.5M-13.5% | $6.4M-10.4% | $7.1M+33.6% | $5.3M-63.7% | $14.7M |
| SG&A Expenses | $63.9M+46.4% | $43.7M+66.4% | $26.2M-12.0% | $29.8M+9.5% | $27.2M+48.2% | $18.4M+15.7% | $15.9M+2.2% | $15.6M |
| Interest Expense | $23.6M+8.8% | $21.7M+38.2% | $15.7M+175.4% | $5.7M0.0% | $5.7M+21.3% | $4.7M+17.5% | $4.0M-25.9% | $5.4M |
| Income Tax | $1.1M-4.8% | $1.2M-55.3% | $2.6M+598.9% | $374K-49.6% | $742K+341.7% | $168K+7.0% | $157K-75.7% | $646K |
| Net Income | -$230.9M-20.9% | -$191.0M-158.2% | -$74.0M+39.8% | -$122.9M-23.6% | -$99.4M-117.5% | -$45.7M-27.5% | -$35.9M+79.1% | -$171.9M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Operating Income, EPS (Diluted).
ASTS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.9B-3.2% | $6.1B+20.7% | $5.0B+96.6% | $2.6B+35.6% | $1.9B+37.4% | $1.4B+43.5% | $954.6M+16.2% | $821.6M |
| Current Assets | $2.5B-20.9% | $3.2B+28.2% | $2.5B+92.5% | $1.3B+31.2% | $973.2M+8.8% | $894.6M+49.0% | $600.2M+10.0% | $545.6M |
| Cash & Equivalents | $2.3B-24.5% | $3.0B+29.7% | $2.3B+93.9% | $1.2B+30.4% | $923.6M+5.7% | $873.8M+54.7% | $565.0M+9.4% | $516.4M |
| Inventory | $28.4M+69.6% | $16.8M+39.6% | $12.0M+10.3% | $10.9M | N/A | N/A | $1.1M | N/A |
| Accounts Receivable | $79.3M+188.8% | $27.5M-27.2% | $37.7M+228.3% | $11.5M | N/A | N/A | $1.4M | N/A |
| Total Liabilities | $3.5B+2.0% | $3.4B+29.3% | $2.6B+183.5% | $924.9M+27.8% | $723.6M+20.0% | $603.0M+111.3% | $285.4M-10.5% | $318.8M |
| Current Liabilities | $191.0M+11.9% | $170.7M+13.5% | $150.3M+12.6% | $133.6M+12.9% | $118.3M+40.5% | $84.2M+10.9% | $75.9M-19.3% | $94.1M |
| Long-Term Debt | $3.0B0.0% | $3.0B+34.2% | $2.2B+216.4% | $697.6M+44.6% | $482.5M+4.4% | $462.2M+197.1% | $155.6M-0.4% | $156.3M |
| Total Equity | $2.4B-9.9% | $2.7B+11.2% | $2.4B+47.1% | $1.6B+40.4% | $1.2B+51.0% | $766.7M+14.6% | $669.1M+33.1% | $502.8M |
| Retained Earnings | -$1.3B-22.6% | -$1.0B-23.0% | -$831.7M-9.8% | -$757.7M-19.4% | -$634.8M-18.6% | -$535.5M-9.3% | -$489.7M-7.9% | -$453.9M |
Not reported in any period shown, so not listed: Goodwill.
ASTS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$97.2M-102.2% | -$48.1M-174.0% | $65.0M+200.8% | -$64.5M-48.3% | -$43.5M-52.3% | -$28.5M-0.4% | -$28.4M+14.9% | -$33.4M |
| Capital Expenditures | $597.6M+128.4% | $261.6M-33.9% | $395.7M+66.0% | $238.4M-23.1% | $310.2M+157.5% | $120.5M+46.8% | $82.0M+170.5% | $30.3M |
| Free Cash Flow | -$694.8M-124.4% | -$309.7M+6.4% | -$330.7M-9.2% | -$302.9M+14.4% | -$353.6M-137.3% | -$149.0M-34.9% | -$110.5M-73.3% | -$63.8M |
| Investing Cash Flow | -$600.5M-58.3% | -$379.3M+55.1% | -$844.1M-216.9% | -$266.4M+14.1% | -$310.2M-157.5% | -$120.5M-46.8% | -$82.0M-170.5% | -$30.3M |
| Financing Cash Flow | -$37.0M-103.3% | $1.1B-52.8% | $2.3B+282.8% | $611.4M+45.7% | $419.8M-7.9% | $455.9M+185.7% | $159.5M-45.9% | $294.7M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ASTS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -732.6% | -1296.3% | -136.2% | -833.7% | -8598.1% | -6365.7% | -316.6% | -15631.5% |
| Return on Equity | -9.6%-2.4pp | -7.2%-4.1pp | -3.1%+4.5pp | -7.6%+1.0pp | -8.6%-2.6pp | -6.0%-0.6pp | -5.4%+28.8pp | -34.2% |
| Return on Assets | -3.9%-0.8pp | -3.2%-1.7pp | -1.5%+3.3pp | -4.8%+0.5pp | -5.3%-1.9pp | -3.3%+0.4pp | -3.8%+17.2pp | -20.9% |
| Current Ratio | 13.05-5.4x | 18.47+2.1x | 16.35+6.8x | 9.56+1.3x | 8.23-2.4x | 10.62+2.7x | 7.90+2.1x | 5.80 |
| Debt-to-Equity | 1.24+0.1x | 1.11+0.2x | 0.92+0.5x | 0.430.0x | 0.42-0.2x | 0.60+0.4x | 0.23-0.1x | 0.31 |
| FCF Margin | -2204.2% | -2101.5% | -609.0% | -2055.0% | -30592.0% | -20752.4% | -975.5% | -5795.8% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin, FCF Margin.
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Where Ast Spacemobile Inc Ranks
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 413.0% 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.
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 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) recorded an outflow of $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) recorded an outflow of $71.5M in operating cash flow during fiscal year 2025, representing cash used by 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 Piotroski F-Score?
Ast Spacemobile Inc (ASTS) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $341.9M while operations used $71.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 65 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.