AST SpaceMobile (ASTS) 10-K Summaries & Annual Filing History
Review AST SpaceMobile, Inc. (ASTS) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2024 · FY2024 10-K
The company designs, assembles, and launches satellites and ground infrastructure. In the reported year, revenue returned to a prior level after a year with no revenue, while net loss and operating cash outflow remained substantial.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$13.8M
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
-$300.1M
Net income reported for the year.
Operating cash flow
-$126.1M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $12.4M | +107.9% |
| Dec 31, 2022 | $13.8M | +11.4% |
| Dec 31, 2023 | $0 | -100.0% |
| Dec 31, 2024 | $13.8M | n/a |
Business overview
The company is engaged in the design, assembly, integration, testing, and launch of satellites and related ground infrastructure, as described in its management discussion. The business is capital intensive, with significant direct materials and launch costs for its satellite constellations.
Financial performance
Revenue for the year was comparable to the level seen two years earlier, following a period with no revenue. Net loss was large, and operating cash flow was negative, reflecting ongoing investment in satellite development.
Material risks
The company faces material risks related to the high capital requirements for satellite design and launch, as the costs for its Block 2 BB satellites are estimated at a significant range per satellite. Any cost overruns or delays could impact liquidity.
Liquidity and capital
The company ended the year with substantial cash on hand and raised additional funds after the period. It believes these resources are sufficient to meet planned expenditures for the next twelve months, though satellite construction remains a major use of capital.
What to watch
Investors should monitor the progress and cost of the Block 2 BB satellite constellation development, as it is a key capital project.