Quarterly Report (10-Q)

AST SpaceMobile reported net losses of $94.8 million for the first half of 2023, driven by $102.5 million in operating expenses including $39.3 million in engineering services and $15.8 million in depreciation as the BlueWalker 3 test satellite was placed into service after successfully completing two-way voice calls and achieving 4G download speeds exceeding 10 Mbps in April and June 2023. The company raised $63.6 million in net proceeds through a public stock offering and at-the-market program during the period, bringing cash to $190.8 million as of June 30, 2023, while simultaneously entering into $100 million and $15 million senior secured credit facilities in August 2023 to fund continued satellite development and operations.