$ASTS Earnings call transcript Q4, 2025, 1/n

Operator: Good day. Thank you for standing by. Welcome to AST SpaceMobile’s fourth quarter 2025 business update. Please be advised that today’s call is being recorded. I’ll now turn the conference over to Maxwell Colbert, Investor Relations Manager of AST SpaceMobile. Thank you. You may begin.

Maxwell Colbert, Investor Relations Manager, AST SpaceMobile: Thank you. Good afternoon, everyone. Today I’m also joined by Chairman and CEO, Abel Avellan, President Scott Wisniewski, and CFO and Chief Legal Officer, Andrew Johnson. Let me refer you to slide 2 of the presentation, which contains our safe harbor disclaimer. During today’s call, we may make certain forward-looking statements. These statements are based on current expectations and assumptions and as a result are subject to risks and uncertainties. Many factors could cause actual events to differ materially from the forward-looking statements on this call. For more information about these risks and uncertainties, please refer to the Risk Factors section of AST SpaceMobile’s annual report on Form 10-K for the year ended December 31, 2025, with the Securities and Exchange Commission and other documents filed by AST SpaceMobile with the SEC from time to time.

After our initial remarks, we will be starting our Q&A section with questions submitted in advance by our shareholders. For those of you who may be new to our company and mission, there are nearly 6 billion mobile phones in use today around the world, but many of us still experience gaps in coverage as we live, work, and travel. There are billions of people without cellular broadband and who remain unconnected to the global economy. The markets we are pursuing at AST SpaceMobile are massive, and the problem we are solving is important and touches nearly all of us. In this backdrop, AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with everyday unmodified mobile devices, supported by our extensive IP and patent portfolio.

It is now my pleasure to pass this over to Chairman and CEO, Abel Avellan, who will go through our activities since our last public update. $ASTS Earnings call transcript Q4, 2025, 2/n

Abel Avellan, Chairman and CEO, AST SpaceMobile: Thank you, Scott. For the first time in 2025, AST SpaceMobile became a revenue-generating business as we significantly advanced all key aspects of our operations, including commercial, government, manufacturing, spectrum rights, IP portfolio, and capital position. The combination of these efforts resulted in the successful launch and unfolding of our next-generation BlueBird satellite, BlueBird 6, the largest ever commercial communication array deployed in low Earth orbit to enable the first and only global space cellular broadband network for government and commercial customers. On the financial front, during 2025, we raised over $3.5 billion in capital and reported revenue of over $70 million for the full year and signed over $1 billion of minimum committed revenue. Operationally, we plan to ramp our satellite manufacturing efforts and launch cadence this year while we’re rapidly accelerating our government and commercial businesses.

We enter 2026 with a strong momentum and clear vision as we lead the space-based cellular broadband industry, a market that we invented. 2026 will be the year we scale our space-based Direct-to-Device constellation from initial commercial activation to start of commercial service with mobile network operator partners in key markets like United States, Europe, Japan, Saudi Arabia, and other key strategic markets like the U.S. government. In just over one year since the orbital launch of our first five Block 1 BlueBird satellites, we developed our Block 2 BlueBird program, which is roughly 3.5 times larger and 10 times the capacity of BlueBird 1 to 5, breaking our previous record on both size and capabilities. Scale, test, launch, and successfully unfolded BlueBird 6, our next-generation satellite of approximately 2,400 sq ft.