AST SpaceMobile spent $598m on capex in a quarter against $13.8m of revenue — one satellite was lost to a launch failure, and convertible notes reach $4.1bn with July's issue
Q2 2026 10-Q: revenue $13.8m, net loss $230.9m, stock-based compensation $63.5m (4.6× revenue). First-half capex $859m (double a year earlier), cash $2.7bn at June 30, convertible notes $2.96bn plus $1.15bn issued in July. BB7 was de-orbited in April after the launch vehicle left it in too low an orbit; BB8–10 launched in June and BB11–13 in August. Purchase commitments $775–795m; Ligado spectrum payments of at least $80m a year
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AST SpaceMobile Form 10-Q for Q2 2026: statement of operations, cash-flow statement (capex, financing), Note 1 'Business' (launch history, BB7 de-orbit), debt note (2032 and 2036 convertible notes; subsequent event: 2034 1.625% notes), commitments note (purchase commitments $775–795m), Ligado spectrum agreement note ($80m a year, $550m contingent), MD&A liquidity
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AST SpaceMobile (ASTS), which is building satellites that connect directly to ordinary phones, reported revenue of $13.8m for the second quarter of 2026 and a net loss of $230.9m. The largest number in the 10-Q filed on August 10 is not the loss but capital expenditure — and in the same quarter one satellite was lost.
What happened
AST SpaceMobile (ASTS) is building the BlueBird satellite constellation that connects directly to ordinary phones, with agreements with AT&T, Verizon, Vodafone and others.
Its Q2 2026 quarterly report (10-Q) shows revenue of $13.8m ($7.3m a year earlier) and a net loss of $230.9m ($99.4m a year earlier). Stock-based compensation was $63.5m, 4.6 times revenue.
Capex on the cash-flow statement was $597.6m in Q2 and $859.2m in the first half, double the prior-year first half ($430.6m); the company cites satellite-component procurement, launch-contract prepayments and a $100m spectrum-rights advance. Note 1 gives the launch history: on April 19 BB7 was left in a lower-than-planned orbit during the New Glenn 3 mission and de-orbited; BB8, 9 and 10 launched on June 17 and were deployed in July; BB11, 12 and 13 launched on August 5.
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Cash and restricted cash were about $2.7bn at June 30; Q2 capex was $597.6m and operating cash outflow $97.2m. In July the company issued $1.15bn of convertible notes. It says it can adjust spending and commitments to capital availability. What the funding and burn structure implies is explained in the subscriber section.
How is the BB7 loss accounted for?
The 10-Q says BB7 was de-orbited after the launch vehicle's upper stage left it in too low an orbit. This article could not confirm an impairment amount; the note does not detail launch insurance.
When does revenue grow?
Q2 revenue of $13.8m came from carrier and government contracts. The company plans to expand commercial service with the Block 2 satellites (BB6–13); the 10-Q gives no revenue timing.
Where can I verify these numbers?
On SEC EDGAR: AST SpaceMobile's Q2 2026 Form 10-Q (accession 0001193125-26-342550), the cash-flow statement, Note 1, the debt note and subsequent events, the commitments note, the Ligado note and MD&A liquidity.
How aiSwingX™ wrote this
We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
AST SpaceMobile Form 10-Q for Q2 2026: statement of operations, cash-flow statement (capex, financing), Note 1 'Business' (launch history, BB7 de-orbit), debt note (2032 and 2036 convertible notes; subsequent event: 2034 1.625% notes), commitments note (purchase commitments $775–795m), Ligado spectrum agreement note ($80m a year, $550m contingent), MD&A liquidity · SEC EDGAR · This article is not investment advice. Disclaimer
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