AST SpaceMobile is a publicly traded satellite designer and manufacturer headquartered in Midland, Texas, focused on building a space-based cellular broadband network. Their SpaceMobile network aims to connect directly to standard, unmodified smartphones via their constellation of low Earth orbit satellites, like the BlueBird series. AST SpaceMobile partners with mobile network operators like AT&T, Verizon, and Vodafone to expand cellular coverage and provide connectivity in underserved areas, also securing contracts with the U.S. government for secure and reliable connectivity.
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AST SpaceMobile secured a launch contract for its first 2,400 sq. ft. next-generation Block 2 BlueBird satellite with a contractual launch window from December 2024 to March 2025.
As of 2023-12-31, AST SpaceMobile had incurred approximately $299,700,000 of gross capitalized property and equipment costs and had accumulated depreciation and amortization of $61,200,000.
AST SpaceMobile acquired a non-exclusive worldwide license to manufacture one satellite subsystem and replaced the supplier of a second subsystem with a new supplier with whom it completed a new design and now owns the intellectual property.
AST SpaceMobile received a fixed-firm-price contract award with the United States Government through a prime contractor that is expected to produce initial revenue in 2024-01-01.
AST SpaceMobile developed a novel, custom, low-power architecture for the Block 2 BlueBird satellite that aims to enable up to a tenfold improvement in processing bandwidth per satellite, a program developed over four years with the equivalent of an estimated 150 man-years and approximately $45,000,000 of development.
AST SpaceMobile expects its planned ASICs and a 2,400-square-foot BlueBird satellite size to support up to 10,000 MHz of processing bandwidth per satellite in the future.
AST SpaceMobile’s custom ASIC entered the tape-out phase with TSMC and is planned to enable up to 120 Mbps peak data rates on 40 MHz spectrum channels and a processing bandwidth of up to 10,000 MHz per satellite.
AST SpaceMobile operates vertically integrated manufacturing and testing facilities in Midland, Texas that collectively span 185,000 square feet.
The five 700 sq. ft. Block 1 BlueBird satellites are expected to be transported from AST SpaceMobile’s assembly facilities to the launch site between July and August 2024.
AST SpaceMobile ended the first quarter of 2024 with cash, cash equivalents and restricted cash of approximately $210,800,000.
AST SpaceMobile will be able to manufacture in-house or through third parties using its own IP approximately 95% of all satellite subsystems for its next-generation Block 2 BlueBird satellites.
As of 2023-12-31, AST SpaceMobile had cash, cash equivalents and restricted cash of $88,100,000.
AST SpaceMobile has additional liquidity of $51,500,000 in gross proceeds available to draw under its Senior Secured Credit Facility, subject to certain conditions and approvals.
Total operating expenses for AST SpaceMobile for the fourth quarter of 2023 were $60.9 million, including $22,300,000 of depreciation and amortization and stock-based compensation expense.
AST SpaceMobile plans capacity of up to 40 MHz per beam on its commercial satellites to support 120 Mbps peak data rates.
AST SpaceMobile has funding on hand to execute its near-term strategic plan for the launch of five 700 sq. ft. Block 1 BlueBird satellites and one 2,400 sq. ft. Block 2 BlueBird satellite.
AST SpaceMobile achieved 3 Bits/Hertz using its BlueWalker 3 demonstration asset.
AST SpaceMobile estimates approximately $45,000,000 was spent on development of the BlueBird Block 2 ASIC.
Total operating expenses for AST SpaceMobile increased by $69,500,000 to $222,400,000 for the year ended 2023-12-31, compared to $152,900,000 for the year ended 2022-12-31.
AST SpaceMobile launched the BlueWalker 3 technology demonstration satellite in late 2022.