ASTS
AST SpaceMobile
AST SpaceMobile Inc is a satellite designer and manufacturer. The company is building the global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on extensive IP and patent portfolio. AST is on a mission to eliminate the connectivity gaps faced by mobile subscribers and finally bring broadband to the billions who remain unconnected.
Investment Thesis
AST SpaceMobile has created a new industry, Satellite D2C, which provides broadband internet directly to everyday smartphones. Their patented technology allows them to deploy extremely large communication satellites into LEO that operate identically to traditional cell towers. Through partnerships with AT&T, Verizon, Vodafone, Rakuten, and the US Government, they will commercialize their technology through pre packaged data plans, day passes, and wholesaling data for IOT and other non communication use cases.
Bear Case
Launching constellations are costly and most existing satellite constellations in the past have failed and went through bankruptcy (Iridium, Echostar, Dish, etc). In addition there is increasing competition from legacy satellite constellations such as Starlink, Lynk, Globalstar/Apple, Echostar, Viasat and more. The global TAM for D2C services might be less than expected which will make maintaining the constellation uneconomical. ASTS needs 45 satellites for continuous global coverage, and 243 for a completed constellation.
Kook Weekly 4/13
Kook Weekly Spaces 3/30
Kooks Weekly Spaces Mar 24
BB2 (FM1) Design Discussion
Discuss the design changes for BB2 and implications
Premiered 2025-03-23 • Added 2025-03-23March 16 Weekly Spaces
Q4 & 2025 Discussion with Kook
Vodafone European JV Discussion
March 2nd Weekly Spaces
Implication of 43mn SDA award
TheKookReport Feb 8 Weekly Spaces
Convertible Debt Discussion
Initial Thoughts on the Ligado Spectrum Deal
Discussion about ASTS Investment with @pirnhacapital
Discussion about Q3 2024
Risks
Active Risks
There is a risk that ASTS will not be able to manufacture enough satellites to meet their 2025/2026 commercialization timeline
ASTS currently has 2 factories building BB2 satellites. These factories can manufacture 6 sats/month at peak operations. They estimate they will be able to reach the 6 sats/month cadence by end of Q2. They have materials for 53 satellites already sourced and collectedASTS's technology will not scale
There is speculation that the technology performs well with 1 phone at a time but there is a risk it will not scaleThere will not be enough customers to sustain development of the constellation
Currently ASTS has about 700mn subscribers through their partnerships. There is an estimate that 30% of customers will pay for a premium service that provides 100% coverage everywhere.Block 2 Design Flaws
There is a risk that the first block 2 satellites will not unfold and operate correctlyBlock 2 Launch Risk
There is a risk that the block 2 satellites will not be launched successfully into orbitDerisked Items
Starlink will dominate the D2C market
ASTS secured partnerships with AT&T, Verizon, Vodafone, Rakuten, 2Degrees in NZ, and have 45 MOUs with MNOs around the world. There is healthy demand in ASTS's service even with the existence of StarlinkASTS will not have enough money to become cash flow positive
ASTS raised an additional 400M in convertible debt that puts their cash position at 1BFCC will not grant approval for ASTS to begin commercial operations
FCC Currently granted special testing authority (STA) for ASTS satellites.Technology Doesn't Work
https://about.att.com/story/2025/ast-spacemobile-video-call.html
AT&T, Verizon, and Vodafone demonstrated a video call working via the Satellite network.Upcoming Catalysts
Past Catalysts
Related Events
Today, President
scottwisniews
went live on Bloomberg Businessweek to discuss our purpose-built approach to deliver full broadband directly to standard smartphones.
"We depend on connectivity so much, and it's very important that the phone just works, whether it's for convenience, peace of mind, or emergencies. There's only one way to get broadband capabilities from space and that's with a big satellite. And we have the biggest."
With the largest commercial satellites in low Earth orbit, over 50 mobile operator partnerships worldwide, and a comprehensive spectrum strategy that combines our own spectrum and partner spectrum, we are rapidly building a future where everyone, everywhere, has access to strong, reliable broadband connectivity from space.
Watch it here
http://
bloomberg.com/news/videos/20
25-10-02/ast-spacemobile-to-launch-service-with-at-t-verizon-video
…
#ASTSpaceMobile #5G #BroadbandFromSpace #Bloomberg #ConnectingtheUnconnected

Another day, another successful broadband connection from space! Together with our strategic partner
Bell
, we have achieved Canada’s first-ever space-based 4G VoLTE voice call, broadband data connection, and video streaming using everyday smartphones
With rollout planned for 2026, the successful demonstration in New Brunswick brings us closer to delivering reliable, high-speed mobile broadband for Canadians everywhere, even in the hardest-to-reach areas
https://
newswire.ca/news-releases/
bell-and-ast-spacemobile-complete-canada-s-first-successful-space-based-direct-to-cell-volte-voice-call-broadband-data-and-video-streaming-833536761.html
…
#ASTSpaceMobile #DirecttoCell #Bell #ConnectingtheUnconnected

BlueBird 6 has completed final assembly and testing and is ready for flight! On October 12, it will head to India aboard an Antonov large cargo plane
We are officially kicking off our next-gen launch campaign:
• BlueBird 7 is expected to ship to the Cape Canaveral launch site in October
• BlueBirds 8-16 are in various stages of production, with launches planned every 1-2 months on average during 2025 and 2026
• On track to complete 40 phased arrays by early 2026, bringing us to BlueBird 46
• Expecting 45-60 satellites in orbit by year-end 2026
We have partnered with 50+ mobile network operators serving nearly 3 billion subscribers, supported by a flexible spectrum strategy blending our own licensed spectrum with partner spectrum. These BlueBirds will be the largest commercial satellites ever deployed in LEO – each featuring a 2,400 sq ft phased array with true direct-to-cell broadband, capable of up to 10,000 MHz of processing bandwidth and peak speeds of 120 Mbps per cell #5G
#ASTSpaceMobile #BlueBird6 #NextGenBlueBird #BroadbandFromSpace #ConnectingtheUnconnected

$ASTS is building fancy cell towers in space. People never believed you could do that.

BUILDING SATELLITES: County commissioners without discussion approved $193,000 in incentive funding
2025-09-11BUILDING SATELLITES: County commissioners without discussion approved $193,000 in incentive funding for AST SpaceMobile to set up a 30,000-square-foot plant in Homestead to employ 60 workers to build satellites for its space-based cellular broadband network. Work on the plant is to begin in October. The incentives are based on an average salary of $89,583. Capital investment in the leased plant is to be $10.8 million. The Midland, TX, company designs, manufactures and operates satellites and plans to ramp up its manufacture, growing from the present two per month to a target of six a month. AST launches satellites from Cape Canaveral as its “space technology aims to provide uninterrupted coverage across the globe” in its AST SpaceMobile Network, the company says. AST looks to create the “only space-based cellular broadband network.”
https://
miamitodaynews.com/2025/09/10/fyi
-miami-september-11-2025/
…
#MiamiTodayNews #ASTSpaceMobile #SpaceTechnology #SpaceIndustry #CellularNetwork #MiamiToday