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AST SpaceMobile Provides Preliminary Financial Results for Second Quarter 2022

July 18, 2022

AST SpaceMobile, Inc.  is providing its preliminary estimated financial results for the second quarter ended June 30, 2022. A full second quarter business update is planned for the first half of August.

Second Quarter 2022 Preliminary Estimated Financial Results

Ended the second quarter with cash and cash equivalents of approximately $202.0 million, not including the expected cash proceeds from sale of its 51% interest in its subsidiary, UAB NanoAvionics

Total operating expenses expected to be between $34.0 and $37.0 million for the second quarter of 2022, including $3.0 to $4.0 million of depreciation and amortization and stock-based compensation expense

As of June 30, 2022, we have incurred approximately $86.6 million of capitalized costs (including launch cost and non-recurring engineering costs) related to the construction and testing of the BlueWalker 3 test satellite

As of June 30, 2022, we have incurred approximately $38.1 million in property and equipment primarily related to the Texas facilities, satellite antennas, test equipment, and leasehold improvements

Our unaudited condensed consolidated financial statements for the three months ended June 30, 2022, are not yet available. The preliminary estimated financial results are management estimates based on currently available information and subject to completion of financial closing procedures as of and for the three months ended June 30, 2022. As a result, our actual results may vary materially from the preliminary estimated financial results included herein and will not be publicly available until we file our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. These estimates constitute “forward-looking statements” as described in “Forward-Looking Statements” below. Our independent registered public accounting firm, KPMG LLP, has not reviewed, or performed any procedures with respect to these preliminary estimated financial results.