Financial Performance - Revenues for the three months ended March 31, 2023 were $0, a decrease of 100% compared to $2,394,000 in the same period of 2022[145]. - Total operating expenses increased by $11,714,000, or 36%, to $44,454,000 for the three months ended March 31, 2023 compared to $32,740,000 in the same period of 2022[145]. - Research and development costs rose by $8,100,000, or 98%, to $16,381,000 for the three months ended March 31, 2023 compared to $8,281,000 in the same period of 2022[150]. - Net loss attributable to common stockholders was $16,318,000 for the three months ended March 31, 2023, an increase of 52% from a net loss of $10,721,000 in the same period of 2022[145]. - Total other income (expense), net was ($8,144,000) for the three months ended March 31, 2023, compared to income of $15,000 in the same period of 2022[152]. - Net loss attributable to noncontrolling interest was $28,898,000 for the three months ended March 31, 2023, compared to $27,182,000 in the same period of 2022[154]. Cash Flow and Capital Requirements - Cash and cash equivalents on hand as of March 31, 2023 were $185.7 million, including $0.7 million of restricted cash[155]. - Cash used in operating activities decreased to $37.7 million for Q1 2023 from $47.5 million in Q1 2022, a reduction of $9.8 million[167]. - Cash used in investing activities was $15.4 million in Q1 2023, down from $21.6 million in Q1 2022, reflecting a $6.2 million decrease[168]. - Cash provided by financing activities was $36 thousand in Q1 2023, compared to $130 thousand in Q1 2022, indicating a decrease in financing[170]. - The company believes existing cash and cash equivalents will be sufficient to meet anticipated cash requirements for the next 12 months[172]. - Future capital requirements will depend on various factors, including supply chain relationships and technological developments[172]. - The company may need to finance cash needs through equity offerings or debt financings, which could dilute stockholder ownership[173]. - The estimated capital expenditure required for the design, assembly, and launch of the first 5 Block 1 BB satellites is between $100 million and $110 million[156]. - Approximately $550 million to $650 million is needed to fund operating and capital expenditures necessary to design, assemble, and launch 20 Block 2 BB satellites[157]. Satellite Development and Launch Plans - The company has incurred approximately $92.5 million in capitalized costs related to the assembly, testing, and deployment of the BW3 test satellite as of March 31, 2023[125]. - The company plans to launch five Block 1 BB satellites in the first quarter of 2024, with a Launch Services Agreement already in place with SpaceX[126]. - The company aims to achieve substantial service in targeted geographical areas with the launch and operation of 25 BB satellites and plans to expand to approximately 95 BB satellites for long-term goals[130]. - The next generation of BB satellites (Block 2) is expected to launch in 2024 and will feature the AST5000 ASIC chip for improved performance[128]. - The company is actively hiring for assembly, integration, and testing roles to support the production of BB satellites[133]. - The company is developing a phased satellite deployment plan to minimize capital requirements and generate cash flows from operations sooner[129]. Economic and Operational Considerations - The company continues to monitor the impact of macroeconomic conditions, including inflation and supply chain challenges, on its operations[134]. - Inflation has not significantly impacted the company's financial condition to date, but future effects remain uncertain[171]. - The company did not have any off-balance sheet arrangements as of March 31, 2023[176]. - The company is classified as a smaller reporting company and is not required to provide extensive market risk disclosures[178]. - The company recognized an estimated liability of $10.0 million as of March 31, 2023, due to unmet KPIs under the Rakuten Agreement[165].

AST SpaceMobile, Inc. (NASDAQ:ASTS) Q4 2022 Results Conference Call March 31, 2023 8:00 AM ET Company Participants Scott Wisniewski - Chief Strategy Officer Abel Avellan - Chairman, CEO Sean Wallace - CFO Conference Call Participants Mike Crawford - B. Riley Chris Quilty - Quilty Analytics Mathieu Robiliard - Barclays Bryan Kraft - Deutsche Bank Landon Park - Morgan Stanley Operator Good day, and thank you for standing by. Welcome to the AST SpaceMobile Fourth Quarter 2022 Business Update Call. Please be ad ...

Financial Performance - Total revenues increased by $1.4 million, or 11%, to $13.8 million for the year ended December 31, 2022, compared to $12.4 million in 2021[263]. - Total cost of sales decreased by $0.8 million, or 11%, to $6.7 million for the year ended December 31, 2022, compared to $7.6 million in 2021[264]. - Engineering services costs increased by $24.6 million, or 83%, to $54.2 million for the year ended December 31, 2022, compared to $29.6 million in 2021[265]. - General and administrative costs increased by $12.7 million, or 36%, to $48.3 million for the year ended December 31, 2022, compared to $35.6 million in 2021[266]. - Research and development costs increased by $22.2 million, or 95%, to $45.6 million for the year ended December 31, 2022, compared to $23.4 million in 2021[267]. - Total depreciation and amortization expense increased by $1.8 million, or 62%, to $4.7 million for the year ended December 31, 2022, compared to $2.9 million in 2021[268]. - Gain on remeasurement of warrant liabilities was $19.1 million for the year ended December 31, 2022, compared to $15.8 million in 2021[268]. - Total other income (expense), net was $24.2 million for the year ended December 31, 2022, compared to $(2.0) million in 2021[268]. - Net loss attributable to common stockholders was $(31.6) million for the year ended December 31, 2022, compared to $(30.6) million in 2021, representing a 4% increase[261]. Cash Flow and Financing - As of December 31, 2022, the company had $239.3 million in cash and cash equivalents, which includes $0.7 million of restricted cash[272]. - Cash used in operating activities increased to $156.5 million for the year ended December 31, 2022, from $80.1 million in 2021, primarily due to higher operating expenses[288]. - Cash used in investing activities decreased to $31.4 million in 2022 from $54.8 million in 2021, mainly due to proceeds from the Nano Share Sale[289]. - Cash provided by financing activities was $102.3 million in 2022, down from $416.9 million in 2021, reflecting proceeds from equity offerings[290]. - A public offering on December 2, 2022, raised $68.6 million, net of underwriting commissions and transaction costs[280]. - The company expects to issue a $10.0 million promissory note to Rakuten if KPIs are not met by June 2023[285]. - The company had cash, cash equivalents, and restricted cash of $239.3 million as of December 31, 2022, down from $324.5 million in 2021[293]. - The company plans to finance cash needs through a combination of equity offerings and debt financings, which may dilute existing stockholder interests[295]. Operational Developments - The company has incurred approximately $92.1 million and $92.3 million in capitalized costs related to the assembly, testing, and deployment of the BlueWalker 3 test satellite as of December 31, 2022, and March 31, 2023, respectively[232]. - The company plans to launch five Block 1 BB satellites in the first quarter of 2024, with a Launch Services Agreement already in place with SpaceX[234]. - The company aims to achieve substantial service in targeted geographical areas with the launch and operation of 25 BB satellites and approximately 95 BB satellites for long-term business goals[238]. - The company is expanding its research and development efforts, including a new center in India to support global engineering operations[240]. - The company is developing the next generation of BB satellites, Block 2 BB satellites, which will feature the AST5000 ASIC chip for improved performance[236]. - The company is industrializing its assembly, integration, and testing processes for the production of BB satellites and hiring necessary personnel[241]. - The company is prioritizing coverage in commercially attractive MNO markets to minimize capital required for initiating and operating commercial service[237]. - The company is closely monitoring the impact of macroeconomic conditions, including inflation and supply chain challenges, on its operations and financial condition[245]. Asset and Impairment Assessment - The company assesses goodwill for impairment at least annually, with a qualitative assessment followed by a quantitative test if necessary[300]. - A quantitative impairment test compares the fair value of a reporting unit to its carrying amount, recognizing an impairment loss if the carrying amount exceeds fair value[300]. - Long-lived asset impairment is assessed when events indicate that the carrying value may not be recoverable, considering factors like significant underperformance and negative industry trends[301]. - As of December 31, 2022, the company had no off-balance sheet arrangements[302]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[302]. Contractual Commitments - Contractual commitments with third parties totaled $49.5 million as of December 31, 2022, related to R&D programs and satellite components[276].

AST SpaceMobile, Inc. (NASDAQ:ASTS) Q3 2022 Results Conference Call November 14, 2022 5:00 PM ET Company Participants Scott Wisniewski - CSO Abel Avellan - Chairman, CEO Sean Wallace - CFO Conference Call Participants Bryan Kraft - Deutsche Bank Caleb Henry - Quilty Analytics Griffin Boss - B. Riley Operator Good day, and thank you for standing by. Welcome to the AST SpaceMobile Third Quarter 2022 Business Update Call. Please be advised that today's conference is being recorded. I would now like to hand the ...

AST SpaceMobile, Inc. (NASDAQ:ASTS) Q2 2022 Results Conference Call August 15, 2022 5:00 PM ET Company Participants Scott Wisniewski - Chief Strategy Officer Abel Avellan - Chairman and CEO Sean Wallace - CFO Conference Call Participants Griffin Boss - B. Riley Bryan Kraft - Deutsche Bank Caleb Henry - Quilty Analytics Landon Park - Morgan Stanley Operator Good day and thank you for standing by. Welcome to the AST SpaceMobile Second Quarter 2022 Business Update Call. Please be advised that today’s conferenc ...

AST SpaceMobile, Inc. (NASDAQ:ASTS) Q1 2022 Earnings Conference Call May 16, 2022 5:00 PM ET Company Participants Scott Wisniewski - Chief Strategy Officer Abel Avellan - Chairman and Chief Executive Officer Sean Wallace - Chief Financial Officer Conference Call Participants Bryan Kraft - Deutsche Bank Chris Quilty - Quilty Analytics Andres Coello - Scotiabank Landon Park - Morgan Stanley Griffin Boss - B. Riley Securities Operator Good day and thank you for standing by. Welcome to the AST SpaceMobile First ...

AST SpaceMobile, Inc. (NASDAQ:ASTS) Q4 2021 Earnings Conference Call March 31, 2022 5:00 PM ET Company Participants Scott Wisniewski – Chief Strategy Officer Abel Avellan – Chairman and Chief Executive Officer Tom Severson – Chief Financial Officer Conference Call Participants Bryan Kraft – Deutsche Bank Griffin Boss – B. Riley Securities Operator Good day, and thank you for standing by. Welcome to the AST SpaceMobile Fourth Quarter 2021 Business Update Call. At this time, all participants are in a listen-o ...