Press release
AST SpaceMobile to Provide Quarterly Business Update on August 14, 2023 and Provides Preliminary Financial Results for Second Quarter 2023
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 standard mobile phones, today announced it will hold a quarterly business update conference call on Monday, August 14th at 5:00 p.m. (Eastern Time). The company is also providing its preliminary estimated financial results for the second quarter ended June 30, 2023.\n\n\nAST SpaceMobile will be accepting questions from retail and institutional shareholders and management will answer select questions relating to AST SpaceMobile’s business and financial results on the conference call. Investors are encouraged to submit questions to [email protected] and will also be added to our Investor Relations mailing list.\n\n\nThe call will be accessible via a live webcast on the Events page of AST SpaceMobile’s Investor Relations website at https://ast-science.com/investors/. An archive of the webcast will be available shortly after the call.\n\n\nSecond Quarter 2023 Preliminary Estimated Financial Results\n\n\n\nWe ended the second quarter with cash and cash equivalents and restricted cash of approximately $191.5 million\n\n\n\n\nWe expect our total operating expenses to be between $57.1 and $59.1 million for the second quarter of 2023, including $19.1 to $20.1 million of depreciation and amortization and stock-based compensation expense\n\n\n\n\nAs of June 30, 2023, we have incurred approximately $156.9 million of capitalized property and equipment costs. This includes costs incurred in assembly, test, launch and deployment of the BlueWalker 3 (“BW3”) satellite which was ready for its intended use and started depreciating in April 2023; costs incurred for development of assembly, integration, and test facilities including purchases of assembly equipment; and purchases of satellite direct materials and antennas\n\n\n\nOur unaudited condensed consolidated financial statements for the three and six months ended June 30, 2023 are not yet available. The preliminary estimated financial results are management estimates based on currently available information and subject to completion of financial closing procedures as of and for the three and six months ended June 30, 2023. As a result, our actual results may vary materially from the preliminar...