AST SpaceMobile Stock Drops After Q1 Earnings Miss

AST SpaceMobile shares rose more than 10 percent during Monday's trading session before dropping sharply in post-market after the company reported first-quarter results that missed Wall Street expectations. The stock, which closed at $82.55 after reaching a high of $84.94 on volume exceeding 33 million shares, fell about 11 percent following the disclosure.

The aerospace company, developing a space-based cellular broadband network to connect standard mobile phones directly to satellites, posted a per-share loss of $0.66 for the first quarter, compared with analyst estimates of a $0.21 to $0.23 loss. Revenue totaled $14.74 million, well below forecasts of $37 million to $39 million. The figures marked an improvement from the prior year's first-quarter revenue of $7.18 million, primarily from government contracts, but highlighted ongoing unprofitability with a negative net margin of 482 percent.

Management reaffirmed full-year 2026 revenue guidance of $150 million to $200 million, in line with consensus around $180 million, and emphasized progress toward deploying 45 to 60 BlueBird satellites by year-end. The company noted FCC approval for its constellation, a 98.9 Mbps speed...