# 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

![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](https://aiswingx.com/static/covers/asts-2026q2_cover.jpg?v=1790026404)

**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**

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.

- 종목: ASTS (AST SpaceMobile)
- 분기: 2026Q2 · 10-Q
- 작성: 2026-09-21 21:33 UTC
- 원문: https://aiswingx.com/p/asts-2026q2

## 숫자 하나
Q2 capex $597.6m (first half $859.2m; prior-year first half $430.6m). Q2 revenue $13.8m vs net loss $230.9m vs stock-based compensation $63.5m. Cash and restricted cash $2.7bn at June 30; non-current convertible notes $2,963m; $1,150m of 1.625% notes due 2034 issued July 20. Purchase commitments $775–795m. Ligado L-band: at least $80m a year plus a $550m contingent payment.

## 비유 하나
(구독자 전용)

## 출처 하나
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

## 다음 분기에 볼 것
(구독자 전용)

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## 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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(End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing)

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## FAQ

**Q. How much cash is left and how fast is it going?**

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.

**Q. 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.

**Q. 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.

**Q. 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.