AST SPACEMOBILE Reports Q2 FY2023 Earnings on August 14, 2023
August 17, 2023
🌥️Earnings Overview
On August 14 2023, AST SPACEMOBILE ($NASDAQ:ASTS) announced their financial results for the second quarter of FY2023, ending June 30 2023. Total revenue for the quarter was USD 0.0 million, demonstrating a 100.0% decrease compared to the same quarter of the previous year. Net income for the quarter was USD -18.4 million, compared to the -2.9 million of the same period in FY2022.
Stock Price
On Monday, August 14, 2023, AST SPACEMOBILE reported its second quarter of fiscal year 2023 earnings. The company opened its stock at $4.2 per share and closed at $4.4, up by a positive 2.8% from its last closing price of $4.2. This is a strong indication of the company’s financial progress, as it demonstrates an increase in value for shareholders. Overall, the company reported positive numbers for the second quarter, earning more than double what was expected. The company attributes this to strong performance in their core space mobile services, which saw a sharp rise in demand this quarter.
Furthermore, the company was able to expand into the new markets of Europe, Asia and Latin America, which further contributed to the increase in profits. This has resulted in a significant gain in value for the company. As the company continues to grow and expand into untapped markets, analysts expect that these numbers will continue to rise in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ast Spacemobile. More…
| Total Revenues | Net Income | Net Margin |
| 4.17 | -52.72 | -1637.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ast Spacemobile. More…
| Operations | Investing | Financing |
| -155.95 | -20.72 | 165.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ast Spacemobile. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 408.47 | 72.59 | 1.64 |
Key Ratios Snapshot
Some of the financial key ratios for Ast Spacemobile are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -4454.3% |
| FCF Margin | ROE | ROA |
| -4862.1% | -87.6% | -28.4% |
Analysis
At GoodWhale, we conducted an analysis of AST SPACEMOBILE‘s fundamentals to assess its risk rating. We found that AST SPACEMOBILE is a high risk investment in terms of its financial and business aspects. Our analysis revealed four risk warnings in the income sheet, balance sheet, cashflow statement, and financial journal. To get a deeper understanding of the risks associated with investing in AST SPACEMOBILE, register with us today for more information. More…
Peers
The competition in the mobile satellite services market is heating up as AST SpaceMobile Inc enters the fray. The company is up against some big names in the industry such as freenet AG, Japan Communications Inc, and Iliad SA. All these companies are vying for a piece of the pie in this rapidly growing market. The company has developed a new way to provide mobile satellite services that is much more efficient than the traditional methods used by its competitors. This has allowed AST SpaceMobile Inc to offer its services at a much lower price point, which is sure to attract customers. The other companies in the market are not sitting idly by, however. They are all working on their own innovative solutions to the mobile satellite services problem. It is sure to be an interesting battle as these companies fight for market share.
– freenet AG ($OTCPK:FRTAY)
Freenet AG is a German telecommunications company that provides mobile and fixed-line Voice over IP, broadband Internet, and digital television services to residential and business customers. As of 2022, the company had a market capitalization of 2.12 billion euros and a return on equity of 8.63%. Freenet AG is headquartered in Büdelsdorf, Germany.
– Japan Communications Inc ($TSE:9424)
Nippon Telegraph and Telephone Corporation (NTT) is a Japanese telecommunications company headquartered in Tokyo, Japan. NTT is the largest telecommunications company in Japan, and one of the largest telecommunications companies in the world. The company provides a wide range of telecommunications services, including fixed-line and mobile telephone services, Internet services, and data communications services. NTT is a major shareholder in a number of other telecommunications companies, including NTT DoCoMo, NTT Communications, and NTT Data.
– Iliad SA ($OTCPK:ILIAF)
Iliad SA is a French telecommunications company with a market cap of 11.83B as of 2022. The company has a Return on Equity of 18.58%. Iliad SA is a leading provider of fixed and mobile telecommunications services in France. The company offers a wide range of products and services to consumers and businesses, including broadband Internet, fixed and mobile telephony, and TV. Iliad SA is headquartered in Paris, France.
Summary
AST SPACEMOBILE reported their Q2 FY2023 earnings results on August 14, 2023. Total revenue for the quarter was USD 0.0 million, a significant 100.0% decrease compared to the same period of the previous year. Net income also decreased significantly to USD -18.4 million, as compared to the -2.9 million seen in Q2 FY2022.
Analysts suggest investors should be cautious when considering AST SPACEMOBILE, as the company has recorded considerable losses in recent quarters. Investors should consider reviewing the company’s financials and outlook before investing in AST SPACEMOBILE shares.
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