AST SpaceMobile Q2 Misses, SpaceX Lockup Looms; Shares Slide
ASTS sits 87% above its 52-week low of $36.08.
Summary
AST SpaceMobile reported Q2 revenue of $31.5M, missing the $35.18M consensus, with an adjusted loss of $0.77 per share versus the expected $0.26 loss. The company maintained its full-year 2026 revenue guidance of $150M-$200M, and Cantor raised its price target to $90 from $80, maintaining an Overweight rating. This follows the 8-K filed yesterday detailing the Q2 results and $1.30B backlog. The earnings miss is weighing on ASTS shares, down 2.8% premarket, while SpaceX faces pressure from the upcoming Aug 20 lockup expiration releasing ~320M shares. The dual headwinds of a fundamental miss and technical supply overhang are driving the selloff.
Updates
· Benzinga — Adjusted loss per share was $0.35, wider than the $0.28 expected. BlueBirds 14-16 are ready to ship, with production ongoing through BlueBird 46.
At the time of this announcement, ASTS was trading at $67.58 on NASDAQ in the Technology sector, with a market capitalization of approximately $26.7B. The 52-week trading range was $36.08 to $133.86. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.