Revenue growth remains lumpy and milestone-dependent, with 2026Q1 revenue of $14.7 million accompanied by a negative 10.1% operating margin.
| Sales/Revenue | 84.94M | 70.92M | 4.42M | 0 | 13.82M | 12.4M | 5.97M | 1.41M | 356K |
| Revenue Growth % | 1732.08% | 1505.21% | - | -100% | 11.45% | 107.89% | 321.99% | 297.19% | - |
| Cost of Goods Sold | 107.87M | 33.03M | 0 | 0 | 6.71M | 7.56M | 3.02M | 954K | 163K |
| COGS % of Revenue | - | 46.58% | - | - | 48.56% | 60.97% | 50.7% | 67.47% | 45.79% |
| Gross Profit | -22.93M | 37.89M | 4.42M | 0 | 7.11M | 4.84M | 2.94M | 460K | 193K |
| Gross Margin % | -27% | 53.42% | 100% | - | 51.44% | 39.03% | 49.3% | 32.53% | 54.21% |
| Gross Profit Growth % | - | 757.54% | - | -100% | 46.86% | 64.58% | 539.57% | 138.34% | - |
| Operating Expenses | 351.23M | 325.6M | 247.18M | 222.37M | 152.88M | 88.67M | 26.41M | 11.35M | 4.77M |
| OpEx % of Revenue | - | 459.12% | 5594.84% | - | 1105.79% | 714.83% | 442.63% | 802.55% | 1340.17% |
| Selling, General & Admin | 126.95M | 101.68M | 61.57M | 41.6M | 48.33M | 35.64M | 12.32M | 5.4M | 2.46M |
| SG&A % of Revenue | - | 143.38% | 1393.53% | - | 349.6% | 287.27% | 206.47% | 382.18% | 691.29% |
| Research & Development | 97.54M | 28.11M | 122.27M | 126.3M | 99.83M | 53.04M | 14.09M | 5.94M | 2.28M |
| R&D % of Revenue | - | 39.64% | 2767.63% | - | 722.11% | 427.56% | 236.17% | 420.37% | 640.17% |
| Other Operating Expenses | 3M | 195.81M | 63.34M | 54.47M | 4.71M | 0 | 0 | 0 | 0 |
| Operating Income | -374.16M | -287.71M | -242.76M | -222.37M | -145.76M | -83.83M | -23.47M | -10.89M | -4.58M |
| Operating Margin % | -440.53% | -405.7% | -5494.84% | - | -1054.35% | -675.8% | -393.33% | -770.01% | -1286.24% |
| Operating Income Growth % | - | -18.52% | -9.17% | -52.55% | -73.87% | -257.19% | -115.56% | -137.78% | - |
| EBITDA | -316.7M | -236.6M | -179.42M | -167.9M | -141.05M | -80.92M | -22.58M | -10.7M | -4.55M |
| EBITDA Margin % | -372.88% | -333.63% | -4061.16% | - | -1020.27% | -652.32% | -378.46% | -756.72% | -1277.25% |
| EBITDA Growth % | -69.27% | -31.87% | -6.86% | -19.03% | -74.31% | -258.32% | -111.06% | -135.32% | - |
| D&A (Non-Cash Add-back) | 57.46M | 51.11M | 63.34M | 54.47M | 4.71M | 2.91M | 887K | 188K | 32K |
| EBIT | -527.21M | -421.04M | -506.32M | -216.49M | -102.28M | -86.75M | -24.36M | -11.06M | -4.58M |
| Net Interest Income | 35.57M | -36.07M | -4.52M | 2.67M | 2.63M | 0 | 61K | 713.61K | 0 |
| Interest Income | 75.71M | 0 | 14.16M | 7.19M | 2.85M | 0 | 71K | 1.2M | 4K |
| Interest Expense | 40.13M | 36.07M | 18.68M | 4.51M | 216K | 0 | 10K | 484.02K | 0 |
| Other Income/Expense | -267.9M | -169.4M | -282.24M | 1.37M | 43.27M | 10.9M | -804K | -209K | 5K |
| Pretax Income | -642.07M | -457.11M | -525M | -221M | -102.5M | -72.93M | -24.27M | -11.1M | -4.57M |
| Pretax Margin % | -755.95% | -644.57% | -11883.25% | - | -741.38% | -587.91% | -406.8% | -784.79% | -1284.83% |
| Income Tax | 4.9M | 3.9M | 1.33M | 1.68M | 617K | 331K | 131K | 44K | 15K |
| Effective Tax Rate % | -0.76% | -0.85% | -0.25% | -0.76% | -0.6% | -0.45% | -0.54% | -0.4% | -0.33% |
| Net Income | -487.25M | -341.94M | -300.08M | -87.56M | -31.64M | -30.55M | -24.06M | -10.88M | -4.44M |
| Net Margin % | -573.67% | -482.16% | -6792.28% | - | -228.86% | -246.3% | -403.23% | -769.8% | -1246.63% |
| Net Income Growth % | -49.43% | -13.95% | -242.71% | -176.74% | -3.56% | -26.98% | -121.05% | -145.27% | - |
| Net Income (Continuing) | -646.96M | -461.01M | -526.33M | -222.68M | -103.11M | -73.26M | -24.41M | -11.14M | -4.59M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 581.45M | 550.85M | 190.03M | 114.57M | 226.29M | 251.69M | 2.49M | 2.61M | 2.93M |
| EPS (Diluted) | -1.68 | -1.34 | -1.94 | -1.07 | -0.58 | -0.37 | -0.47 | -0.10 | -0.00 |
| EPS Growth % | 9.55% | 30.93% | -81.31% | -84.48% | -56.76% | 21.28% | -370% | - | - |
| EPS (Basic) | - | -1.34 | -1.94 | -1.07 | -0.58 | -0.37 | -0.47 | -0.10 | -0.00 |
| Diluted Shares Outstanding | 290.69M | 255.98M | 154.5M | 81.82M | 54.44M | 51.73M | 51.73M | 28.75M | 25.95B |
| Basic Shares Outstanding | 290.69M | 255.98M | 154.5M | 81.82M | 54.44M | 51.73M | 51.73M | 28.75M | 25.95B |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Satellite deployment and launch
According to recent financial filings, ASTS reported revenue of $14.7 million in 2026Q1, reflecting a 19.5% year-over-year growth rate that remains heavily dependent on non-recurring engineering contracts rather than consistent, scalable subscription-based service fees typical of a mature telecommunications provider or established satellite network operator.
The revenue trajectory appears highly volatile, driven by milestone-based payments rather than organic subscriber growth. Investors should monitor whether the company can successfully transition from these project-based inflows to a recurring revenue model as the constellation reaches operational density.
As reported in quarterly statements, the company experienced significant gross margin fluctuations, swinging from 100% in periods of minimal activity to a negative 68.1% in 2025Q4, illustrating the extreme sensitivity of profitability to the timing of satellite fabrication and launch-related cost recognition.
The current margin profile is characteristic of a pre-commercial infrastructure entity where high fixed costs dominate the income statement. Until the constellation achieves sufficient scale, gross margins will likely remain erratic and unrepresentative of the long-term unit economics of the direct-to-device service.
Based on the provided income statement data, SG&A expenses surged to $43.7 million in 2026Q1, representing a substantial increase from previous quarters and highlighting the rising operational overhead required to support the company's transition toward a full-scale commercial satellite network deployment and global operations.
The significant rise in SG&A, coupled with persistent R&D spending, suggests that the company is aggressively scaling its organizational infrastructure. This expense discipline warrants close scrutiny, as the current burn rate necessitates efficient capital allocation to avoid premature dilution before commercial service reaches critical mass.
Analysis of recent SEC filings reveals that stock-based compensation reached $55.4 million in 2026Q1, a figure that significantly exceeds the company's quarterly revenue and complicates the assessment of true operational performance by inflating non-cash expenses relative to the underlying business's current cash-generating capabilities.
The heavy reliance on equity-based incentives suggests a strategy to preserve cash, yet it creates a disconnect between reported net losses and the actual economic cost of talent acquisition. Investors should adjust for these non-cash charges to better understand the underlying cash burn trajectory.
Quick answers to the most common questions about buying ASTS stock.
For fiscal year 2025, AST SpaceMobile, Inc. (ASTS) reported total revenue of $70.9M. This represents a 19820.8% increase compared to $0.4M in 2018.
AST SpaceMobile, Inc. (ASTS) reported a net loss of $341.9M for the fiscal year ending 2025.
AST SpaceMobile, Inc. (ASTS) reported an operating income of $-287.7M, resulting in an operating profit margin of -405.7%. This margin reflects the operational efficiency of the business before interest and taxes.
AST SpaceMobile, Inc. (ASTS) generated $37.9M in gross profit for the year, representing a gross profit margin of 53.4%. This demonstrates the company's core pricing power and production efficiency.