AST SpaceMobile (NASDAQ: ASTS) Reports Revenue Growth Despite Wider Q2 Loss as Cantor Raises Price Target

• Cantor Fitzgerald maintained an “Overweight” rating on AST SpaceMobile (NASDAQ: ASTS) and raised its price target from $80 to $90.
• AST SpaceMobile reported a Q2 2026 loss of $0.77 per share, compared with analysts’ expectations for a loss of approximately $0.32, while revenue of $31.52 million also missed estimates.
• The company reaffirmed its full-year 2026 revenue outlook of $150 million to $200 million and reported approximately $1.30 billion in revenue backlog.

AST SpaceMobile is developing a space-based cellular broadband network designed to connect directly with standard, unmodified mobile devices. The company aims to work with mobile network operators to reduce connectivity gaps and expand cellular broadband coverage for commercial and government users.

On August 11, 2026, Cantor Fitzgerald maintained its “Overweight” rating on AST SpaceMobile and increased its price target from $80 to $90. An Overweight rating indicates that the analyst expects the stock to outperform its peers or the broader market. AST SpaceMobile shares opened at $68.76 on the day the updated price target was reported.

The analyst action followed AST SpaceMobile’s second-quarter results, which were released on August 10. The company reported a GAAP net loss attributable to common stockholders of $230.91 million, compared with $99.39 million in the same quarter a year earlier. Its basic and diluted loss per Class A share widened to $0.77 from $0.41, missing the consensus estimate of approximately $0.32 per share.

The wider loss was partly related to increased operating expenses as the company expanded its satellite network. Total operating expenses reached $329.10 million, including a $125.91 million loss on involuntary conversion. Adjusted operating expenses, a non-GAAP measure, were $119.06 million.

Revenue increased substantially to $31.52 million, compared with $1.16 million in Q2 2025. The increase was driven primarily by gateway deliveries and milestones completed under U.S. government contracts. Nevertheless, quarterly revenue fell short of analysts’ average estimate of approximately $34.98 million.

AST SpaceMobile reported approximately $1.30 billion in aggregate contracted revenue from commercial partners and U.S. government contract awards. This backlog provides future revenue visibility, although the timing and recognition of that revenue remain dependent on contract performance and other conditions.

Looking ahead, AST SpaceMobile reaffirmed its full-year 2026 revenue guidance of $150 million to $200 million. The company said the outlook is supported by additional U.S. government contract awards and continued network development. It currently has 13 spacecraft in orbit and partnerships with more than 60 mobile network operators that collectively serve over three billion subscribers.