8e130d4fc8c674597f49cc6ecf05b913f3f524e4dcc90c1a584cbccd7019e4bd

AST SpaceMobile's revenues dropped to **$0.00 in Q4 2022** because the company **sold its 51% interest in NanoAvionika UAB on September 6, 2022**, which resulted in the loss of revenue from Nano's customer contracts that previously contributed to its earnings.  **[0000950170-23-011124_asts-20221231.htm:115]** **[0000950170-23-011124_asts-20221231.htm:83]** 

Why did Revenues drop to 0.00 in Q4 2022?

The sharp increase in **Depreciation and Amortization** in **Q2 2023** was driven by the initiation of noncash amortization related to the **BlueWalker 3 satellite**. This change reflects the capitalization of costs associated with the satellite now being operational, which significantly raised the amortization expense compared to previous periods.  **[0000950170-23-042394_asts-20230630.htm:31]** **[ASTS_3310036_3]** 

What drove the sharp increase in Depreciation and Amortization in Q2 2023?

The significantly higher net loss in Q3 2023 was driven by several factors. **Operating expenses** surged due to increased engineering services costs—including higher payroll, employee-related costs, and stock-based compensation—as well as rising general and administrative, research and development, and other expenses. Notably, **depreciation and amortization expenses** escalated dramatically, alongside shifts in **other income (expense)**, which included a gain on the remeasurement of warrant liabilities that partially offset other expenses. These changes combined to amplify the net loss attributable to common stockholders in Q3 2023.  **[0000950170-23-063737_asts-20230930.htm:22]** **[0000950170-23-063726_asts-ex99_1.htm:5]** **[0000950170-23-063737_asts-20230930.htm:3]** 

What factors led to the significantly higher net loss for common stockholders in Q3 2023?

The increase in **Total Operating Expenses** in Q2 2023 was primarily driven by higher **engineering services costs** and **depreciation and amortization**. Specifically, engineering services costs surged by **$10,814 thousand (a 90% increase)** due to higher payroll expenses, increased headcount, milestone-based bonuses, and additional costs related to AIT facilities, prototyping, and travel. Additionally, depreciation and amortization expenses increased by **$12,930 thousand** with the initiation of noncash amortization of the BlueWalker 3 satellite. There was also a smaller increase in **research and development costs** by **$1,776 thousand** and a partial offset from a **$2,854 thousand** decline in general and administrative costs.  **[0000950170-23-042394_asts-20230630.htm:31]** **[ASTS_3310036_3]** 

Why did Total Operating Expenses increase so much in Q2 2023?

537cfe5d3139a06596403b527440560c93b93dc986efa700a76534990a7754af

AST SpaceMobile’s surge in cash and cash equivalents to **$516,389 thousand** in Q3 2024 was primarily driven by two key factors: **public warrant exercises**, which contributed **$153.3 million** in net proceeds, and the **ATM program**, which generated **$144.9 million** in funds, including **$106.9 million** from a newly created facility. These activities considerably strengthened the company's cash position during the quarter.  **[0000950170-24-127096_asts-ex99_1.htm:0]** **[ASTS_3408936_4]** 

What factors led to Cash and cash equivalents surging to 516,389 in Q3 2024?

The dramatic increase in Total Assets in Q3 2024 was driven by several key factors. **Cash and cash equivalents** saw a major jump from **$85,622 thousand** to **$516,389 thousand** due to the redemption of publicly traded warrants and the use of the at-the-market (ATM) facility. Additionally, there was an increase in **property and equipment, net** from **$238,478 thousand** to **$260,068 thousand** driven by capital expenditures related to the BlueBird satellites and investments in facility and production equipment. There was also a slight increase in **other non-current assets** from **$2,311 thousand** to **$3,872 thousand**. These combined factors reflect the company’s strategic investments and capital-raising activities during the period.  **[0000950170-24-127096_asts-ex99_1.htm:4]** **[0000950170-24-127101_asts-20240930.htm:2]** 

What drove the dramatic increase in Total Assets in Q3 2024?

The documents indicate that the current portion of long-term debt increased from **$252,000** at the end of 2023 to **$44,635,000** in Q3 2024. While this is usually due to reclassification of long-term debt that is due within the next year—which can occur as a result of new debt agreements or changes in the terms of existing debt—the documents do not provide a detailed explanation beyond that general rationale.  **[0000950170-24-127096_asts-ex99_1.htm:4]** **[0000950170-24-127101_asts-20240930.htm:2]** 

Why did the Current portion of long-term debt spike to 44,635 in Q3 2024?

29aca0782b40e0dc542d9a17657a0e2c132aec07ab460b606ec5ce99ab11810e

Revenues (USD, thousands)

Cost of sales (USD, thousands)

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Engineering services costs (USD, thousands)

General and administrative costs (USD, thousands)

Research and development costs (USD, thousands)

Depreciation and amortization (USD, thousands)

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Gain (loss) on remeasurement of warrant liabilities (USD, thousands)

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Total other income (expense), net (USD, thousands)

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Net loss before allocation to noncontrolling interest (USD, thousands)

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Net loss attributable to common stockholders (USD, thousands)

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a957d2265dd25cac0a0e3e8a445318220fc57494f5ff2b13c654de565c24d519

Total Revenue (USD, thousands)

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EPS - Diluted (USD)

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Adjustments for Non-Cash Items (USD, thousands)

Stock-Based Compensation (USD, thousands)

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Current Assets (USD, thousands)

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Deferred Tax Liabilities (USD, thousands)

Shareholders' Equity (USD, thousands)

Retained Earnings (USD, thousands)

Common Stock (USD, thousands)

Additional Paid-in Capital (USD, thousands)

a4436fde8a00731437850a6b16d3e8bdaa3ad5802534351162945b5bcaf9913f

NanoAvionika UAB

SpaceMobile Service

- Revenue from performance obligations recognized over time

- Revenue from performance obligations recognized at point-in-time transfer

Performance obligations completed under agreements with prime contractors

Resale of gateway equipment to a mobile network operator

Total Revenue

9b8a19c43f9930c170810b1cca03b4810a8037097fab3301a1486267448142a6

AST SpaceMobile (ASTS)

Financials