AST SpaceMobile reported Q2 2026 revenue of $31.5 million on August 10, more than double the prior quarter but below analyst expectations, as the satellite communications company maintained its full-year guidance despite missing near-term targets.
The company’s Q2 revenue fell short of the $33.9 million to $34.5 million consensus estimate, while its per-share loss of -$0.77 missed the expected loss of -$0.32 to -$0.28. The net loss widened to $230.9 million for the quarter.
Despite the quarterly miss, AST reaffirmed its 2026 full-year revenue guidance of $150 million to $200 million, slightly below the $155.7 million consensus forecast. The company attributed Q2 revenue to milestones on U.S. government contracts and commercial gateway deliveries, signaling that its core business model—providing direct-to-device satellite broadband to standard mobile phones—continues to advance even as near-term results lag expectations.
The company’s revenue backlog expanded to approximately $1.3 billion in aggregated contracted revenue from commercial partners and U.S. government contract awards. This backlog—more than 41 times the quarterly revenue recognized—underscores the gap between signed commitments and current cash generation, a dynamic common among pre-commercial space businesses ramping production capacity.
AST SpaceMobile is targeting approximately 45 to 60 satellites in orbit by the end of 2026, supported by manufacturing capacity to produce up to six satellites per month. The company holds more than $3.7 billion in cash and equivalents, providing substantial runway for its satellite deployment and network buildout.
The earnings miss follows a pattern: AST reported a Q1 2026 revenue of $14.7 million, also below the $37.48 million forecast, yet reaffirmed the same full-year guidance. When Rocket Lab, a comparable space company, reported Q2 2026 results on the same day, it posted record quarterly revenue of $234 million and a backlog of $2.36 billion, highlighting the variance in revenue ramp timing across the sector. AST’s slower near-term revenue recognition reflects its earlier stage of commercial deployment, with service revenue not expected until late 2026 or early 2027.
The company noted that the initial commercial direct-to-device service launch has been deferred to early 2027, a delay announced in July. This timeline shift, combined with the sequential revenue ramp visible in Q1 and Q2 results, suggests AST is managing production and service milestones against a more extended deployment curve than originally projected.
Sources
- Wall Street Journal — AST SpaceMobile’s Q2 2026 revenue guidance and analyst consensus expectations
- Yahoo Finance — Q2 2026 revenue of $31.5 million, government and commercial revenue drivers, and earnings call details
- Newsquawk — Q2 EPS and revenue figures, full-year 2026 guidance
- MarketBeat — Q2 2026 EPS miss and consensus comparison
- Investing.com — Revenue backlog of $1.3 billion and Q2 2026 earnings call transcript
- Rocket Lab investor relations and Yahoo Finance — Rocket Lab Q2 2026 record revenue of $234 million and backlog comparison
