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This Week's Bonus News
AST SpaceMobile Plummets on Galactic Q1 Miss: Can Vertical Integration Save the SpaceX Rival?Author: Jessica Mitacek. Publication Date: 5/12/2026. 
Key Points
- AST SpaceMobile reported Q1 2026 EPS of negative 66 cents and revenue of $14.74 million, missing analyst expectations by wide margins.
- Despite the earnings miss, AST SpaceMobile holds approximately $3.5 billion in cash and plans to expand its BlueBird satellite fleet to 100 units.
- Analysts assign ASTS a consensus Reduce rating with an average price target of $82.51, while institutional investors have injected nearly $3 billion over the past year.
- Special Report: Trump Issues Emergency Order That Supports Elon Musk's Next Venture
When an aerospace upstart’s next-generation BlueBird satellites rank among the largest commercial communication arrays ever deployed in low Earth orbit (LEO), expectations for that company can be astronomical. So when space-based cellular broadband network provider AST SpaceMobile (NASDAQ: ASTS) reported Q1 2026 results on Monday, May 11, investors were understandably deflated by a bearish double miss.
In the lead-up to the earnings call, which was held after the bell, ASTS gained nearly 6%. But after announcing sharp misses on both earnings and revenue, the stock sold off in after-hours trading, with the market’s palpable disappointment sending shares down more than 13%. Here’s what investors need to know about the SpaceX rival going forward. AST SpaceMobile’s Q1 Disappointment Brings Investors Back Down to EarthDespite the company’s promising backdrop, the space-based cellular provider posted Q1 earnings per share (EPS) of negative 66 cents versus analyst expectations of negative 23 cents. The EPS miss was AST SpaceMobile’s fifth in as many quarters. Quarterly revenue also disappointed, with $14.74 million missing the consensus estimate of $39.01 million by a wide margin. That miss stood out even more when compared with the company’s Q4 2025 revenue of $54.31 million against expectations for $39.53 million. Fortunately, the Q1 report wasn’t without its bright spots. AST SpaceMobile reported a healthy balance sheet with approximately $3.5 billion in cash, cash equivalents, and restricted cash as of March 31. The company is still in the early stages of generating revenue, but it should be able to continue scaling thanks to more than half a million square feet of manufacturing and operations space around the globe. BlueBirds 8, 9, and 10 are expected to be delivered within a month, and AST SpaceMobile is in the process of assembling BlueBird 33. Ultimately, the firm plans to have 100 BlueBird satellites in its fleet. In his earnings call comments, CEO Abel Avellan highlighted the company’s 95% vertically integrated manufacturing strategy, noting that it provides a long-term advantage as the manufacturing team has ramped up significantly over the past several quarters. AST SpaceMobile’s Volatility Should Be ExpectedAST SpaceMobile has faced its fair share of setbacks this year. Launch delays and Blue Origin deployment mishaps have fueled heightened volatility in the share price. As a result, ASTS now carries a beta of 2.60, meaning it is more than two and a half times as volatile as the broad market. But with high betas come high-risk, high-reward opportunities. Shortly after the BlueBird 7 LEO failure in late April, the stock bounced back within a week on news that the U.S. Federal Communications Commission granted AST SpaceMobile commercial authority to deliver direct-to-device, or D2D, cellular broadband connectivity from outer space nationwide in the United States. That catalyst followed another in late February that helped push shares of ASTS higher. At that time, the Midland, Texas-based firm—which has secured strategic partnerships with Verizon Communications (NYSE: VZ), AT&T (NYSE: T), Vodafone (NASDAQ: VOD), real estate investment trust American Tower (NYSE: AMT), Google, and a handful of other tech and communication services companies—announced its first-ever premier government contract. According to a company press release, AST SpaceMobile entered into an agreement with the United States Space Development Agency for the Europa Track 2 Commercial Solutions program as part of “the Hybrid Acquisition for proliferated Low-Earth Orbit (HALO) program,” which carries a total contract value of approximately $30 million. So selloffs are nothing new to shareholders, many of whom have endured the highs and lows of owning ASTS. Over the past year, while posting a gain of nearly 204%, the stock has seen trough-to-peak gains as high as 315% while enduring at least 15 double-digit pullbacks. After a Big Earnings Miss, ASTS Receives a Mixed OutlookThe silver lining is that the company’s revenue is expected to continue growing, which should bring earnings close to breakeven over the next year. Based on a trailing 12-month EPS of negative $1.32, AST SpaceMobile’s earnings are expected to improve from negative 99 cents to negative one cent over the next four quarters. Nonetheless, analysts are now understandably conservative in their expectations. The stock’s average 12-month price target is $82.51, indicating potential upside of more than 15%. Meanwhile, AST SpaceMobile has a consensus Reduce rating based on the 10 analysts who currently cover it. Short interest of nearly 18%—or nearly 54 million shares of the 382 million shares outstanding—remains a short-term concern. However, long term, the smart money appears to remain bullish on ASTS. Over the past 12 months, institutional buyers have injected nearly $3 billion into the stock, while outflows have totaled less than $500 million.
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