Press release
AST SpaceMobile to Provide Quarterly Business Update on May 15, 2023 and Provides Preliminary Financial Results for First 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, May 15th at 5:00 p.m. (Eastern Time). The company is also providing its preliminary estimated financial results for the first quarter ended March 31, 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\nFirst Quarter 2023 Preliminary Estimated Financial Results\n\n\n\nWe ended the first quarter with cash and cash equivalents and restricted cash of approximately $185.7 million\n\n\n\nWe expect our total operating expenses including certain non-recurring development and engineering expenses to be between $43.5 and $45.5 million for the first quarter of 2023, including $3.7 to $4.7 million of depreciation and amortization and stock-based compensation expense\n\n\n\nAs of March 31, 2023, we have incurred approximately $92.5 million of capitalized costs (including launch costs and non-recurring engineering costs) related to the assembly, testing and deployment of the BlueWalker 3 (“BW3”) satellite\n\n\n\nAs of March 31, 2023, we have incurred approximately $66.5 million of capitalized property and equipment costs related to the development of assembly, integration, and test facilities in Texas, as well as satellite related purchases including assembly equipment, direct materials and antennas\n\n\n\nOur unaudited condensed consolidated financial statements for the three months ended March 31, 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 th...