AST SpaceMobile Q1 2022

In Q1 2022, space cellular operator AST SpaceMobile reported:

• $2.4 million in revenue, compared to $951,000 in the first quarter of last year.
• Operating expenses in the quarter were $32.7 million, compared to $12 million for the same time last year. AST SpaceMobile spent more on engineering services, general and administrative costs, and R&D.
• The company purchased a new facility in Texas during the quarter.
• The company ended the first quarter with cash, cash equivalents, and restricted cash of $255 million and $4.9 million of debt as of March 31, 2022.
• AST SpaceMobile reaffirmed the target launch of its BlueWalker 3 for this summer (August), which is subject to a number of factors, including testing completion.
• AST SpaceMobile is one of the recent wave of space companies that went public via a SPAC merger.