AST SpaceMobile’s (NASDAQ: ASTS) Q2 results left a lot to be desired, falling short of consensus estimates by wide margins. However, the business is still in the early phases of its revenue ramp and on track for an explosive share price increase. The report details highlight the growing network, an accelerated launch schedule, and a deal pipeline that promises to drive significant revenue improvements as soon as the current quarter and growth over the long term.
The critical detail from the Q2 results is the timing of payments and contract awards. While the expectation was high for a better result, the $1.16 million in net revenue is a drop in the bucket of what is to come, and the back-half guidance was affirmed.
