Press release
AST SpaceMobile Provides Business Update and Fourth Quarter and Full Year 2023 Results
MIDLAND, Texas--(BUSINESS WIRE)-- AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular
About this update from Ast Spacemobile, Inc.
[{"type":"text","content":" MIDLAND, Texas--(BUSINESS WIRE)--\nAST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update for the three months and fiscal year ended December 31, 2023.\n\n\n“It has been a busy and exciting start to 2024 for AST SpaceMobile, with new partners joining our mission, manufacturing ramping, and commercialization approaching,” said Abel Avellan, Chairman and CEO of AST SpaceMobile. “With a clear vision and a strong foundation, AST SpaceMobile is well-positioned to lead the charge in bridging the digital divide.”\n\n\nBusiness Update\n\n\n\nKey Investments and Commercial Agreements With AT&T, Google, Vodafone and the United States Government\n\n\nMilestone strategic financing is a vote of confidence in AST’s tech and business model\n\n\n\nFixed-firm-price contract award announced with the United States Government through a prime contractor, expected to produce initial revenue in Q1 2024\n\n\n\nNecessary funding on-hand to execute near-term strategic plan for the launch of five 700 sq. ft. Block 1 BlueBird satellites and first next generation 2,400 sq. ft. Block 2 BlueBird satellite, which will surpass Block 1 BlueBird satellites as the largest commercial phased array in low Earth orbit\n\n\n\nContinue to advance discussions with additional strategic partners, following the blueprint of strategic investments alongside commercial payments\n\n\n\n\n\n\nFCC Approves Framework for the Use of Terrestrial Spectrum for SpaceMobile (Direct-to-Device)\n\n\nPotential to unlock 200+ MHz of terrestrial low band spectrum for satellite direct-to-device use\n\n\n\nFCC voted 5-0 on March 14 to approve the Supplemental Coverage from Space NPRM draft rules published in February\n\n\n\nShould facilitate AST’s FCC application to provide commercial services in the US\n\n\n\nWe anticipate many regulatory entities globally will follow the new US regulatory regime\n\n\n\nSimplifies overall application process by making standard rules which cover the majority of AST’s application\n\n\n\n\n\n\nProduction, Assembly and Testing Capabilities Now Fully Operational at Texas Facilities\n\n\nContinue to ramp production capability of microns, the buil...