AST SpaceMobile, Inc. (NASDAQ:ASTS) shares closed 4.4% lower at $68.76 on August 10 before the company released its results. Second-quarter revenue of $31.5 million missed the approximately $34.5 million consensus, while the net loss attributable to common stockholders widened to $230.9 million. Investors appeared more interested in AST SpaceMobile, Inc. (NASDAQ:ASTS)'s deployment progress.
The company reported approximately $1.3 billion of company-defined contracted backlog, expanded its network to 13 satellites, and reiterated 2026 revenue guidance of $150 million to $200 million. Customer and government interest is increasingly visible. The harder question is whether AST can deploy and monetize the network on schedule before launch costs and financing needs catch up with it.
AST's approximately $1.3 billion of company-defined contracted backlog is the strongest evidence that its commercial opportunity is becoming more than a technology demonstration. The total consists of contracted revenue from mobile-network partners and awards from the U.S. government. Management said government business remains a minority of the backlog, although most of the recent additions came from government programs.
AST SpaceMobile, Inc. (NASDAQ:ASTS) separately reported approximately $1.2 billion of remaining performance obligations under accounting rules as of June 30. The company expected to recognize only 6.6% of that amount over the following 12 months. That represents approximately $79 million, leaving most of the accounting backlog scheduled for later periods.
The company-defined backlog therefore provides longer-term visibility without solving the immediate revenue-ramp question. AST has not yet recognized revenue from the SpaceMobile service itself. Second-quarter revenue came primarily from gateway equipment delivered to mobile operators and milestones completed under U.S. government agreements.
Product revenue reached $24.4 million, largely from gateway equipment and related software, while services revenue totaled $7.1 million. AST delivered against 13 gateways for seven customers across five continents during the quarter. Gateway sales and government development work are supporting the business before commercial service begins.
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