AI Takeaway
AST SpaceMobile (ASTS) reported a net loss of $191.0M in Q1 2026, more than quadrupling year-over-year, while the company dramatically expanded its balance sheet to $6.05B in total assets—primarily funded by $1.1B in new financing—as it accelerates its satellite broadband network buildout.
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
Total assets surged 341.8% year-over-year to $6.05B, with cash and equivalents reaching $3.03B (up 246.7% YoY), reflecting aggressive capital raises totaling $1.1B in financing cash flows during Q1 2026 to fund satellite constellation deployment.
Source: Source: 10-Q Balance Sheet & Cash Flow Statement
Net loss deepened to $191.0M in Q1 2026 from $45.7M in Q1 2025, a 317.9% deterioration YoY, as the company continues to invest heavily in its space-based cellular broadband infrastructure ahead of meaningful commercial revenue generation.
Source: Source: 10-Q Income Statement
Long-term debt increased 541.1% YoY to $2.96B, indicating the company is leveraging debt alongside equity financing to fund the capital-intensive deployment of its BlueBird satellite constellation.
Source: Source: 10-Q Balance Sheet
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Upgrade to unlockLong-term debt exploded 541.1% YoY to $2.96B, creating significant future interest and repayment obligations for a company with no meaningful commercial revenue. If the satellite network does not generate sufficient cash flows, ASTS may face refinancing risk or dilutive equity raises.
Source: Source: 10-Q Balance Sheet
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Upgrade to unlockReported EPS of $-0.66 versus the $-0.23 analyst consensus — a -188.5% miss for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Net Income | $-191.01M | $-45.71M | -317.91% |
R&D Expense | $7.13M | $7.13M | -0.08% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $6.05B | $1.37B | +341.80% |
Current Assets | $3.15B | $894.61M | +252.40% |
Total Liabilities | $3.39B | $602.99M | +462.25% |
Current Liabilities | $170.7M | $84.22M | +102.69% |
Cash & Equivalents | $3.03B | $873.78M | +246.72% |
Long-Term Debt | $2.96B | $462.2M | +541.12% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $-48.06M | $-28.55M | -68.35% |
Investing Cash Flow | $-379.26M | $-120.46M | -214.86% |
Financing Cash Flow | $1.11B | $455.87M | +142.47% |
D&A | $17.61M | $10.96M | +60.75% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
ROA | -3.2% | — | — |
Current Ratio | $18.469 | — | — |
ASTS reported a net loss of $191.0M in Q1 2026, more than quadrupling from $45.7M a year ago, as the company accelerates its satellite broadband constellation deployment. The company raised $1.1B in financing during the quarter and ended with $3.03B in cash, but also took on $2.96B in long-term debt to fund its capital-intensive buildout.
As of Q1 2026, ASTS held $3.03B in cash and equivalents, up 246.7% from $873.8M a year earlier, reflecting substantial capital raises. However, the company is burning cash rapidly, with $48.1M in operating outflows and $379.3M in investing outflows in just one quarter.
ASTS's net loss widened 317.9% YoY to $191.0M in Q1 2026, primarily because the company is scaling up its satellite constellation deployment, incurring higher operational and financing costs ahead of commercial revenue. The company remains in a pre-revenue stage, meaning all costs flow directly to losses.
ASTS's long-term debt surged 541.1% year-over-year to $2.96B as of Q1 2026, up from $462.2M a year prior. Total liabilities reached $3.39B, reflecting the company's aggressive use of debt financing alongside equity raises to fund its BlueBird satellite network.
ASTS has a very strong liquidity position with a current ratio of 18.47 and $3.03B in cash, providing a substantial runway for near-term operations. However, the company carries $2.96B in long-term debt, is burning over $400M per quarter in combined operating and investing cash flows, and has yet to generate meaningful commercial revenue, making its long-term financial health contingent on successful satellite deployment and monetization.