AST SpaceMobile (ASTS) is gearing up to unveil its second-quarter 2024 financial results on August 14th, after the market closes. The company is anticipated to showcase a significant year-over-year improvement in its top line, driven by strong momentum in both government and private sector partnerships.
During the quarter, AST SpaceMobile solidified its position by securing a definitive commercial agreement with AT&T. This partnership will leverage ASTS’ innovative Space-based direct-to-mobile technology to deliver seamless and reliable connectivity to consumers. This will expand coverage into remote, rural, and hard-to-reach locations across the continental United States. Notably, Verizon, another prominent player in the U.S. telecom industry, also entered into an agreement with AST SpaceMobile to utilize its satellite network for delivering seamless connectivity to remote areas of the country.
The company’s commercial communication technologies have also gained traction in the government sector for mission-critical applications. These developments are anticipated to have a positive impact on AST SpaceMobile’s earnings.
Analysts are projecting total revenues of $2 million for the June quarter. In contrast, the company did not generate any revenue in the second quarter of fiscal 2023. The consensus estimate for adjusted earnings per share indicates a loss of 19 cents per share. In the corresponding period last year, the company incurred a loss of 24 cents per share.
While AST SpaceMobile’s partnerships and market penetration are encouraging, it’s important to note that the company is still in the early stages of its commercialization efforts. Investors will be keen to see how the company is progressing in its efforts to deploy its satellite constellation and generate revenue.
