Quarterly Report (10-Q)

AST SpaceMobile successfully completed two-way voice calls and achieved 4G/5G download speeds exceeding 10 Mbps to standard smartphones using its BlueWalker 3 test satellite during the first nine months of 2023, validating core technology capabilities. The company spent $124 million in operating cash during the period while securing $63.5 million in debt financing and raising approximately $63.5 million in equity through a public offering and at-the-market program, bringing total debt to $71.8 million as of September 30, 2023. Net loss attributable to common stockholders reached $55.6 million for the nine months ended September 30, 2023, compared to $23.4 million in the prior year period, reflecting significantly higher depreciation expense of $34.9 million following the capitalization of the test satellite and accelerated investment in satellite construction and ground infrastructure.