It has been about a month since the last earnings report for AST SpaceMobile, Inc. (ASTS Quick QuoteASTS - Free Report) . Shares have added about 7.3% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is AST SpaceMobile due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for AST SpaceMobile, Inc. before we dive into how investors and analysts have reacted as of late.

ASTS Reports Wider-Than-Expected Q3 Loss Despite Top-Line Expansion

AST SpaceMobile reported lackluster third-quarter 2025 results, with both the top and bottom lines missing the Zacks Consensus Estimate.

Unfavorable macroeconomic conditions, such as rising inflation, higher interest rates, volatility in the capital markets, imposition of tariffs and geopolitical conflicts, are negatively impacting the company’s operations. These factors led to continued fluctuations in satellite material prices, increasing capital costs and putting pressure on the company’s financial performance in the quarter under discussion.

Quarter Details

Net loss in the reported quarter was $122.9 million or a loss of 45 cents per share compared with a loss of $171.9 million or a loss of $1.10 per share in the year-ago quarter. The reported loss was wider than the Zacks Consensus Estimate of a loss of 18 cents.

Quarterly revenues surged to $14.7 million from $1.1 million in the year-ago quarter, primarily driven by gateway hardware sales and various commercial and U.S. government service milestone achievements. However, the top line missed the Zacks Consensus Estimate of $21 million.

Other Details  
  
In the September quarter, total operating expenses rose to $94.4 million from $66.6 million in the year-ago quarter. This was due to increased general and administrative costs and engineering services expenses. Adjusted operating expenses for the third quarter were $67.7 million.

Cash Flow & Liquidity

For the first nine months of 2025, the company utilized $136.5 million of cash for operating activities compared with $97.7 million in the year-ago period. As of Sept. 30, 2025, it had $1.2 billion in cash and cash equivalents with $697.6 million in long-term debt.

How Have Estimates Been Moving Since Then?

Since the earnings release, investors have witnessed a downward trend in fresh estimates.

The consensus estimate has shifted -22.55% due to these changes.

VGM Scores

At this time, AST SpaceMobile has a poor Growth Score of F, a score with the same score on the momentum front. Following the exact same course, the stock was allocated a score of F on the value side, putting it in the lowest quintile for value investors.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, AST SpaceMobile has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

AST SpaceMobile belongs to the Zacks Wireless Equipment industry. Another stock from the same industry, Ubiquiti Inc. (UI Quick QuoteUI - Free Report) , has gained 0.4% over the past month. More than a month has passed since the company reported results for the quarter ended September 2025.

Ubiquiti reported revenues of $733.77 million in the last reported quarter, representing a year-over-year change of +33.3%. EPS of $3.46 for the same period compares with $2.14 a year ago.

For the current quarter, Ubiquiti is expected to post earnings of $2.81 per share, indicating a change of +23.3% from the year-ago quarter. The Zacks Consensus Estimate has changed +2.2% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #1 (Strong Buy) for Ubiquiti. Also, the stock has a VGM Score of D.