AST SpaceMobile Inc. (NASDAQ:ASTS) is down approximately 15% over the past month and fell over 2% on Tuesday, after a stretch that included second-quarter earnings and concerns over its reliance on third-party launch providers.
- AST SpaceMobile stock is trending lower. Why is ASTS stock trading lower?
Q2 Misses Estimates, Reaffirms FY Revenue Outlook
AST SpaceMobile reported an adjusted loss of 35 cents per share on August 10, missing the consensus estimate of a loss of 28 cents, while revenue of $31.52 million also missed the $34.977 million consensus estimate. Revenue backlog increased to approximately $1.3 billion in aggregate contracted revenue spanning commercial partners and U.S. government contract awards.
The company reaffirmed its fiscal-year revenue outlook of between $150 million and $200 million, versus the $168.87 million consensus estimate.
The SpaceX Launch Concern
Shares fell on August 26 after SpaceX announced structural changes to its launch operations, raising concerns given AST SpaceMobile’s dependence on third-party rockets. In a post on X, SpaceX’s VP of Launch, Kiko Dontchev, confirmed that a mission from Cape Canaveral’s Pad 40 was the last planned Falcon 9 Starlink launch from Florida, saying future Starlink missions from Florida would shift to Starship instead. AST SpaceMobile has relied primarily on Falcon 9 for its BlueBird satellite launches since a Blue Origin New Glenn rocket carrying its BlueBird 7 satellite was destroyed in a launchpad failure in late May.
AST SpaceMobile Shares Tumble Lower
ASTS Price Action: At the time of publication, AST SpaceMobile shares are trading 2.96% lower at $57.35, according to data from Benzinga Pro.
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