Ast Spacemobile (ASTS) financial statements
Ast Spacemobile reported revenue of $71M in fiscal 2025, up 64.1% a year over 5 years.
Net income was -$342M.
Free cash flow was -$1.1B.
The diluted share count rose 2877% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ast Spacemobile's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $6M | $12M | $14M | $0 | $4M | $71M |
| Cost of revenue | $3M | $8M | $7M | $0 | — | — |
| Gross profit | $3M | $5M | $7M | $0 | — | — |
| Research and development | $1M | $23M | $46M | $47M | $29M | $28M |
| Selling, general and admin | $12M | $36M | $48M | $42M | $62M | $102M |
| Operating income | -$1M | — | — | — | — | — |
| Interest expense | — | — | $200,000 | $4M | $19M | $32M |
| Pre-tax income | -$24M | -$73M | -$102M | -$221M | -$525M | -$457M |
| Income tax | $131,000 | $331,000 | $617,000 | $2M | $1M | $4M |
| Net income | -$52M | -$31M | -$32M | -$88M | -$300M | -$342M |
| EPS (diluted) | -$6.13 | -$0.37 | — | — | — | — |
| Diluted shares | 9M | 52M | — | 82M | 155M | 256M |
| Gross margin | 49.3% | 39.0% | 51.4% | — | — | — |
| Operating margin | -18.8% | — | — | — | — | — |
| Net margin | -870.8% | -246.3% | -228.9% | — | -6792.3% | -482.2% |
Balance sheet
Fiscal years, from Ast Spacemobile's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $43M | $636M | $469M | $155M | $1.1B | $4.3B |
| Receivables | $2M | $2M | $0 | — | $1M | $38M |
| Inventory | $3M | $1M | $0 | — | $1M | $12M |
| Total current assets | $51M | $336M | $268M | $107M | $600M | $2.5B |
| Property, plant and equipment | $37M | $96M | $146M | $238M | $338M | $1.4B |
| Goodwill | $4M | $4M | $0 | — | — | — |
| Total assets | $100M | $444M | $438M | $361M | $955M | $5.0B |
| Total current liabilities | $13M | $21M | $28M | $46M | $76M | $150M |
| Long-term debt | — | $5M | $5M | $59M | $156M | $2.2B |
| Total liabilities | $20M | $92M | $79M | $147M | $285M | $2.6B |
| Shareholders' equity | $5M | $352M | $360M | $214M | $669M | $2.4B |
| Net debt | -$43M | -$317M | -$234M | -$26M | -$406M | -$116M |
Cash flow
Fiscal years, from Ast Spacemobile's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$23M | -$80M | -$156M | -$149M | -$126M | -$72M |
| Capital spending | $8M | $15M | $57M | $119M | $174M | $1.1B |
| Free cash flow | -$31M | -$95M | -$214M | -$268M | -$300M | -$1.1B |
| Stock-based compensation | $283,000 | $4M | $9M | $13M | $32M | $47M |
| Net borrowing | -$2M | $49,000 | $230,000 | $63M | $96M | $2.6B |
| Free cash flow margin | -518.4% | -767.2% | -1546.1% | — | -6796.5% | -1602.2% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ASTS.
Open ASTS in InvestinglyQuestions
What was Ast Spacemobile's revenue in 2025?
$71M in fiscal 2025, from its 10-K filing.
How much free cash flow does Ast Spacemobile generate?
-$1.1B in fiscal 2025 (operating cash flow minus capital spending).
From Ast Spacemobile's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.