AST SpaceMobile recently announced significant advancements in its space-based 5G capabilities during their Q3 2023 earnings call. The company achieved data rates of 40 megabits per second in their testing program. They also provided updates on the launch of their first five satellites in Q1 2024, with manufacturing already underway in Midland.
During the call, AST SpaceMobile highlighted successful testing of its space-based 5G capabilities with partners such as Vodafone, AT&T, Rakuten, and Nokia. The company also emphasized its strong collaborations with over 40 mobile network operators worldwide. They have an extensive intellectual property portfolio containing over 3,100 patents and patent-pending claims.
In terms of financials, AST SpaceMobile reported non-GAAP adjusted cash operating expenses of $37.3 million for Q3 2023, along with capital expenditures of $71.7 million. They anticipate a decrease in operating expenses to $25 million to $30 million per quarter starting from Q1 2024.
In response to questions about strategic investments and CapEx trajectory, the company expressed that they are actively seeking commercial and strategic relationships, with more details to be provided in November or December. AST SpaceMobile also mentioned their progress in building the next five satellites and achieving significant milestones for the BlueWalker 3.
Regarding capacity, the company demonstrated its ability to process multiple calls concurrently and tested multiple simultaneous connections to the system. They also expressed encouragement regarding US national spectrum security, as their system was included in the presidential notice, which they believe will facilitate the regulation of their service in the US and other countries.
In conclusion, AST SpaceMobile’s Q3 report showcases their advancements in space-based 5G capabilities and progress towards launching satellites in 2024. Despite facing financial challenges, the company’s strategic initiatives and potential future growth present interesting opportunities for investors.