Ast Spacemobile Inc Stock Price, News & Analysis

AST SpaceMobile, Inc. (NASDAQ: ASTS) announced a quarterly business update conference call on May 15, 2023, to discuss preliminary financial results for Q1 2023. As of March 31, 2023, the company reported cash and cash equivalents of approximately $185.7 million and expects operating expenses between $43.5 and $45.5 million, which includes depreciation and stock-based compensation. Additionally, capitalized costs related to the BlueWalker 3 satellite stand at approximately $92.5 million, while property and equipment costs are about $66.5 million. The financial figures are preliminary estimates and are subject to finalization. For further details, shareholders can submit questions for the conference call and access the webcast on AST SpaceMobile's Investor Relations website.

AST SpaceMobile, Inc. (NASDAQ: ASTS) announced a groundbreaking achievement in cellular connectivity by successfully completing the first-ever two-way voice calls using its BlueWalker 3 satellite. This milestone allows direct communication with standard mobile phones, aiming to connect the nearly 50% of the global population currently without cellular broadband. The inaugural call was made from Midland, Texas, to Japan over AT&T's spectrum using a Samsung Galaxy S22. This advancement validates AST's patented technology and supports plans to provide global 2G to 5G connectivity.

Notable partners, including Vodafone, Rakuten, and AT&T, were integral to the testing process. With over 2,600 patents, AST SpaceMobile aims to bridge connectivity gaps faced by billions worldwide, preparing to transform mobile communications significantly.