AST SpaceMobile (NASDAQ: ASTS) reported second-quarter 2026 revenue of $31.5 million, driven by gateway deliveries and U.S. Government contract milestones, according to a company press release. The company said it remains on track to meet full-year 2026 revenue guidance of $150 million to $200 million.

Total operating expenses for the quarter were $329.1 million, up from $164.1 million in the first quarter of 2026. The increase was driven largely by a $125.9 million loss on involuntary conversion, along with higher general and administrative, engineering services, and depreciation costs. Net loss attributable to common stockholders was $230.9 million, or $0.77 per share, compared with a loss of $99.4 million, or $0.41 per share, in the second quarter of 2025.

The company reported cash, cash equivalents, and restricted cash of approximately $2.7 billion as of June 30, 2026. In July 2026, AST SpaceMobile raised $1.15 billion in gross proceeds from a new 1.625% convertible senior notes offering at an effective conversion price of $149.20 per share. On a pro forma basis, including that offering, the company cited over $3.7 billion in liquidity.

Revenue backlog grew to approximately $1.30 billion in aggregate contracted revenue from commercial partners and U.S. Government contract awards. The company said it received multiple U.S. Government awards with a combined value exceeding $125 million for national-security applications.

On the operational side, AST SpaceMobile said its constellation now includes 13 in-orbit BlueBird satellites following the launch of BlueBirds 11, 12, and 13, with approximately 20,000 square feet of combined aperture hardware deployed. BlueBirds 14, 15, and 16 are ready to ship, while BlueBirds 17 through 46 are in various stages of production and assembly. The company said it has activated an initial 3,000 digital cells across the continental United States and plans to begin beta service with select partners in 2026.

The company reported partnerships with over 60 mobile network operators covering more than 3 billion subscribers. Network integration and testing are underway in several European countries with carriers including Vodafone, Orange, Telefónica, and Deutsche Telekom, as well as in Canada, Japan, and Saudi Arabia, subject to regulatory approvals.