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AST SpaceMobile Surpasses Q3 Earnings Estimates, Misses on Revenues
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AST SpaceMobile, Inc. (ASTS - Free Report) reported modest third-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate but revenues missing the same.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Bottom Line
Net loss in the reported quarter was $171.9 million or a loss of $1.10 per share compared with $20.9 million or 23 cents per share in the year-ago quarter. Non-GAAP net income was 10 cents per share, which beat the Zacks Consensus Estimate by 28 cents.
AST SpaceMobile, Inc. Price, Consensus and EPS Surprise
Quarterly revenues were $1.1 million, which missed the consensus estimate of $2 million.
Other Details
In the September quarter, total operating expenses rose to $66.6 million from $59 million in the year-ago quarter. This was due to increased research and development costs and engineering services costs. Adjusted operating expenses for the third quarter of 2024 were $45.3 million, up 21.4% year over year.
Cash Flow & Liquidity
For the first nine months of 2024, the company utilized $97.7 million of cash from operating activities compared with a cash utilization of $124 million in the year-ago quarter. As of Sept. 30, 2024, it had $518.9 million in cash, cash equivalents and restricted cash.
Keysight Technologies, Inc. (KEYS - Free Report) is scheduled to release third-quarter earnings on Nov. 19. The Zacks Consensus Estimate for earnings is pegged at $1.57 per share, indicating a decline of 21.1% from the year-ago reported figure.
Nvidia Corporation (NVDA - Free Report) is scheduled to release third-quarter earnings on Nov. 20. The Zacks Consensus Estimate for earnings is pegged at 74 cents per share, indicating a growth of 85% from the year-ago reported figure.
Workday, Inc. (WDAY - Free Report) is scheduled to release third-quarter fiscal 2025 earnings on Nov. 26. The Zacks Consensus Estimate for earnings is pegged at $1.72 per share, indicating growth of 12.4% from the year-ago reported figure.
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AST SpaceMobile Surpasses Q3 Earnings Estimates, Misses on Revenues
AST SpaceMobile, Inc. (ASTS - Free Report) reported modest third-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate but revenues missing the same.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Bottom Line
Net loss in the reported quarter was $171.9 million or a loss of $1.10 per share compared with $20.9 million or 23 cents per share in the year-ago quarter. Non-GAAP net income was 10 cents per share, which beat the Zacks Consensus Estimate by 28 cents.
AST SpaceMobile, Inc. Price, Consensus and EPS Surprise
AST SpaceMobile, Inc. price-consensus-eps-surprise-chart | AST SpaceMobile, Inc. Quote
Revenues
Quarterly revenues were $1.1 million, which missed the consensus estimate of $2 million.
Other Details
In the September quarter, total operating expenses rose to $66.6 million from $59 million in the year-ago quarter. This was due to increased research and development costs and engineering services costs. Adjusted operating expenses for the third quarter of 2024 were $45.3 million, up 21.4% year over year.
Cash Flow & Liquidity
For the first nine months of 2024, the company utilized $97.7 million of cash from operating activities compared with a cash utilization of $124 million in the year-ago quarter. As of Sept. 30, 2024, it had $518.9 million in cash, cash equivalents and restricted cash.
ASTS’ Zacks Rank
AST SpaceMobile currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Keysight Technologies, Inc. (KEYS - Free Report) is scheduled to release third-quarter earnings on Nov. 19. The Zacks Consensus Estimate for earnings is pegged at $1.57 per share, indicating a decline of 21.1% from the year-ago reported figure.
Nvidia Corporation (NVDA - Free Report) is scheduled to release third-quarter earnings on Nov. 20. The Zacks Consensus Estimate for earnings is pegged at 74 cents per share, indicating a growth of 85% from the year-ago reported figure.
Workday, Inc. (WDAY - Free Report) is scheduled to release third-quarter fiscal 2025 earnings on Nov. 26. The Zacks Consensus Estimate for earnings is pegged at $1.72 per share, indicating growth of 12.4% from the year-ago reported figure.