AST SpaceMobile, Inc. (NASDAQ: ASTS)

AST SpaceMobile, Inc., with ticker symbol ASTS, operates in the telecommunications industry, specifically focusing on building the first and only global Cellular Broadband network in space. This network aims to provide direct access to everyday smartphones and other devices for commercial and government use (2G/4G-LTE/5G devices). The company's operations primarily involve the development and deployment of a constellation of high-powered, large phased-array satellites in Low Earth Orbit (LEO) using low band and middle band spectrum controlled by Mobile Network Operators (MNOs).

The company's revenue generation comes from a revenue-sharing business model with MNOs. By integrating the SpaceMobile Service into their existing networks and marketing it to their customers, MNOs can offer Cellular Broadband coverage to mobile subscribers who are constantly moving in and out of coverage or live or work outside of coverage, have no Cellular Broadband coverage, and have no connectivity or mobile cellular coverage.

The SpaceMobile Service is a Cellular Broadband service designed to provide high-speed coverage, including voice, text, data, and video services, directly to any off-the-shelf and unmodified 2G/4G-LTE/5G mobile device using low and middle band cellular spectrum currently used by MNOs. AST SpaceMobile, Inc. believes that its SpaceMobile Service has several competitive advantages, such as a large addressable market, the ability to deliver Cellular Broadband coverage at a competitive cost, and the ability to provide Cellular Broadband directly to unmodified devices.

The company has developed relationships with prominent players in the industry, including Vodafone, Rakuten, AT&T, Google, and American Tower, among others. These partnerships involve innovative technologies, skilled personnel, and potential end-user customers that complement AST SpaceMobile's strategy. MNOs are expected to market the SpaceMobile Service to their existing customers, who will be the ultimate end-users.

The company's segment summary includes:

Block 1 BB Satellites: AST SpaceMobile, Inc. is currently in the advanced stages of assembling and testing its first generation of commercial BB satellites, Block 1 BB satellites. These satellites will be of similar size and weight to the BW3 test satellite, include the company's own designed array solar panels and battery systems, and will have ten times higher throughput than the BW3 test satellite.

Block 2 BB Satellites: The company has commenced planning and procurement activities to begin the assembly, integration, and testing of its second generation of commercial BB satellites, Block 2 BB satellites. These satellites will be approximately 2,400 square feet in size, almost 3.5 times bigger than the Block 1 BB satellites, and will have the largest phased array ever deployed in a LEO for commercial use.

Government Sector: AST SpaceMobile, Inc. believes that its patented technology, including large phased-array and high power capability of its BB satellites, can be used in various applications in the government sector, such as mission-critical communication capabilities.

Launch Services: The company has entered into an agreement with a launch service provider to launch the first Block 2 BB satellite during the launch window of December 15, 2024, to March 31, 2025. The company has a contractual right under the launch services agreement to reschedule the date of its dedicated launch, subject to the launch vehicle provider's launch schedule availability.

The company's intellectual property portfolio is expansive and technologically diverse, containing numerous and various innovations of the direct-to-cell satellite ecosystem from space to Earth. AST SpaceMobile, Inc. has secured 31 granted United States patents, with one exclusively licensed to them, and at least four United States patent applications that have been indicated as allowable and ready for issue pending completion of patent office formalities.