AST SpaceMobile Q2 2022

In Q1 2022, space cellular operator AST SpaceMobile reported:

• $7.3 million in revenue in the quarter, compared to $2.8 million in the same time period last year.
• Operating expenses increased by $2.7 million to $35.4 million for the second quarter of 2022. The company spent more on general and administrative costs,  research and development costs, and engineering services.
• The company ended the second quarter with cash and cash equivalents of $202.4 million and $4.9 million in long-term debt.
• Completed final assembly, integration, and ground transportation of the BlueWalker 3 test satellite to Cape Canaveral, FL, with an upcoming planned launch window for early to mid-September.
• AST SpaceMobile is selling its majority ownership stake in NanoAvionika UAB (NanoAvionics). Norwegian company Kongsberg Defence & Aerospace is acquiring the smallsat manufacturer. AST SpaceMobile expects to receive approximately $27 million in net proceeds at closing.