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
AST SpaceMobile reported revenue for the first time since 2022, while net loss and operating cash burn remained substantial. The company is building a satellite constellation to provide direct-to-device cellular connectivity from space.
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, 2020 | $6M | n/a |
| 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
AST SpaceMobile is developing a space-based cellular broadband network designed to connect standard mobile phones directly to satellites. The company designs, assembles, integrates, tests, and launches satellites along with related ground infrastructure to enable this service.
Financial performance
Revenue for the year was reported, a change from the prior year when no revenue was recognized. Net loss and cash used in operations remained significant, reflecting the capital-intensive nature of satellite development and deployment.
Material risks
The company faces material risks related to the high capital costs of satellite design, assembly, integration, testing, and launch. It also relies on access to equity and debt markets to fund operations, and any disruption in capital availability could materially affect its ability to continue as a going concern.
Liquidity and capital
As of the end of the reporting period, the company held significant cash and cash equivalents. Subsequent to year-end, it raised additional net proceeds through an at-the-market equity program and the issuance of convertible notes, which management believes will fund operations for the next twelve months.
What to watch
Readers should monitor the company's progress in launching and deploying its Block 2 BB satellites, as the average capital cost per satellite is a key driver of future funding needs.