It has been about a month since the last earnings report for AST SpaceMobile, Inc. (ASTS Quick QuoteASTS - Free Report) . Shares have lost about 10.6% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is AST SpaceMobile due for a breakout? Well, first let's take a quick look at its most recent 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 Q4 Loss Despite Top-Line Expansion

AST SpaceMobile reported mixed fourth-quarter 2025 results, with the top line beating the Zacks Consensus Estimate and the bottom line missing the same. The company reported revenue growth year over year, backed by gateway hardware sales and U.S Government contract. The launch of BlueBird 6, the largest commercial communications array ever deployed in low Earth orbit, is a positive factor.

However, unfavorable macroeconomic conditions, such as rising inflation, higher interest rates, volatility in the capital markets, imposition of tariffs and geopolitical conflicts, are hurting 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 $73.9 million or a loss of 26 cents per share compared with a loss of $35.9 million or a loss of 18 cents per share in the year-ago quarter. The reported loss was wider than the Zacks Consensus Estimate of a loss of 18 cents.

For 2025, ASTS reported a net loss of $341.9 million or a loss of $1.34 per share compared to a loss of $300.1 mi Quarterly revenues surged to $54.3 million from $1.9 million in the year-ago quarter, primarily driven by gateway hardware sales and various commercial and U.S. government service milestone achievements. The top line beat the Zacks Consensus Estimate of $41 million.

For 2025, the company reported revenues of $70.9 million, increasing $4.4 million from 2024.

Other Details

In the December quarter, total operating expenses rose to $126.6 million from $60.6 million in the year-ago quarter. This was due to increased general and administrative costs and engineering services expenses. Adjusted operating expenses for the fourth quarter were $95.7 million.

Cash Flow & Liquidity

For 2025, the company utilized $71.5 million of cash for operating activities compared with $126.1 million in the year-ago period. As of Dec. 31, 2025, it had $2.33 billion in cash and cash equivalents with $2.2 billion in long-term debt compared to respective figures of $564.9 million and $155.6 million a year ago.llion or $1.94 per share in 2024.

How Have Estimates Been Moving Since Then?

Since the earnings release, investors have witnessed a flat trend in estimates revision.

The consensus estimate has shifted -6.2% due to these changes.

VGM Scores

Currently, AST SpaceMobile has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a grade 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

AST SpaceMobile has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.