$ASTS AST SpaceMobile reported earnings
Q3 FY2024 results ended September 30th 2024
- Revenue: $1.1M (first reported revenue)
- Net Loss: $303.1M vs $50.7M in Q3 2023
- Net Loss per Share: -$1.10 vs -$0.23 in Q3 2023
- Cash Position: $518.9M
CEO Abel Avellan: "We achieved many significant milestones in the quarter and continue our momentum with several key pieces now in place. With the first five BlueBird satellites successfully unfolded and entering initial operations, our business is progressing according to plan."
Operational Metrics:
- Operating Expenses: $66.6M, +13% YoY
- R&D Costs: $14.7M, +56% YoY
- Engineering Services: $21.8M, +12% YoY
- Depreciation & Amortization: $14.5M vs $19.0M in Q3 2023
Business Highlights:
- First five commercial BlueBird satellites achieved successful initial operations
- Secured launch capacity for up to 60 Block 2 BlueBird satellites
- Achieved initial validation of AST5000 ASIC chip
- Added three new contract awards with U.S. Government
- Received $153.3M from warrant redemption
- Repaid $48.5M of Senior Secured Credit Facility
Financial Position:
- Cash & Restricted Cash: $518.9M
- Total Assets: $821.6M
- Total Liabilities: $318.8M
- Capitalized property and equipment costs: $374.0M
