Quarterly Report (10-Q)

AST SpaceMobile raised $145 million through convertible notes issued to AT&T, Google, Vodafone, and Verizon in the first half of 2024, while also completing a $107.7 million public stock offering, bringing total cash to $285 million as of June 30. The company recognized $1.4 million in revenue from government contract work and recorded $21.8 million in contract liabilities from advance payments for its SpaceMobile Service and gateway equipment, though commercial service has not yet launched. Operating losses widened significantly to $171.2 million for the six months ended June 30, 2024 compared to $94.8 million in the prior year period, driven by $40.3 million in depreciation expense on satellite and equipment assets, along with $47.9 million in losses from remeasurement of warrant liabilities due to stock price volatility.