Quarterly Report (10-Q)

AST SpaceMobile completed a business combination with New Providence Acquisition Corp on April 6, 2021, raising $456.4 million in net proceeds and becoming a publicly traded company on Nasdaq under ticker ASTS. For the nine months ended September 30, 2021, the company reported $6.2 million in revenues and a net loss of $60.5 million before noncontrolling interests, reflecting heavy investment in engineering services ($18.8 million), general and administrative costs ($24.0 million), and research and development ($15.5 million) as it advances development of its BlueWalker 3 test satellite and designs its commercial satellite constellation. The company ended the quarter with $360.4 million in cash and $76.1 million in warrant liabilities, positioning itself to fund ongoing satellite manufacturing and testing operations while pursuing its mission to provide global cellular broadband connectivity through space-based services.