AST SpaceMobile, Inc. (ASTS) is a pioneer company making the preliminary and internationally acclaimed cellular broadband network in space to function with the standard mobile device based on its IP and patent platform. The company’s expertise is on a mission to remove the connectivity breaks faced by mobile users.
The price of ASTS stock during the regular trading of March 9, 2022, was $9.78 with a sharp increase of 44.8%. At the last check of the premarket on March 10, 2022, the stock dipped by 9.41%.
ASTS: Events and Happenings
On March 9, 2022, ASTS announced its entry into a multi-launch contract with Space Exploration Technologies Corp. The contract emphasizes the unveiling of the initial BlueBird satellite along with the summer launch of the BlueWalker 3 test satellite.
ASTS: Key Financials
On November 15, 2021, ASTS reported its consolidated financial report for the third fiscal quarter of 2021 ended September 30, 2021. Some of the key features are as follows.
Revenue
Revenue in the third quarter of 2021 was observed to be $2.45 million against $2.09 million in the same quarter in 2020. The company’s revenue gained over the year by $0.36 million. The actual revenue was in-line with the estimations.
EPS
Net income per diluted share attributed to the common stockholders in Q3 2021 was $4.11 million or $0.07 as compared to a net loss of $553 million in the comparable period of 2020. The company experienced a substantial reduction in its net loss over the year. Also, its actual EPS was in-line with the estimations.
On October 12, 2022, ASTS reported that its CEO presented the company at the prestigious Rakuten Optimism 2021 on October 13, 2021.
Conclusion
ASTS stock inclined 18% YTD as the company’s strong strategies dug it out of the economic constraints of the pandemic. The recent premarket stock decline is likely attributed to shedding the gain as a result of yesterday’s announcement of the multi-launch contract by the company.
