10-Q Filing

AST SPACEMOBILE, INC. CIK: 1780312 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-022235`
Period End Date	20230331
Filing Date	20230515
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	asts-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 32 Cash Flow Statement 58 Stockholders Equity 18 Comprehensive Income 12

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$238.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$185.04M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$653.00K	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$668.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.23M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$24.95M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$38.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$227.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$268.31M	USD	Point-in-time
BlueWalker 3 satellite - construction in progress	`ConstructionInProgressGross`	$92.46M	USD	Point-in-time
BlueWalker 3 satellite - construction in progress	`ConstructionInProgressGross`	$92.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNetExcludedConstructionInProgress`	$66.45M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNetExcludedConstructionInProgress`	$53.91M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$158.92M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$145.99M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$12.96M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$7.67M	USD	Point-in-time
Other non-current assets	`OtherNonCurrentAssets`	$16.40M	USD	Point-in-time
Other non-current assets	`OtherNonCurrentAssets`	$1.74M	USD	Point-in-time
Total other non-current assets	`OtherAssetsNoncurrent`	$24.07M	USD	Point-in-time
Total other non-current assets	`OtherAssetsNoncurrent`	$14.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$400.72M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$438.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.93M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$23.25M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$13.14M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$952.00K	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$722.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.55M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilities`	$38.95M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilities`	$31.45M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.05M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$12.11M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.70M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$83.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$78.55M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$235.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$236.89M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$229.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$183.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-118.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-102.10M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$226.29M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$198.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$316.93M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$315.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$359.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$351.97M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$438.37M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$400.72M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$2.39M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfRevenue`	$1.99M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$408.00K	USD	1 Quarter
Engineering services	`OtherGeneralExpense`	$11.74M	USD	1 Quarter
Engineering services	`OtherGeneralExpense`	$16.48M	USD	1 Quarter
General and administrative costs	`GeneralAndAdministrativeExpense`	$9.86M	USD	1 Quarter
General and administrative costs	`GeneralAndAdministrativeExpense`	$11.62M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$16.38M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$8.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.73M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$32.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$44.45M	USD	1 Quarter
(Gain) loss on remeasurement of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-7.50M	USD	1 Quarter
(Gain) loss on remeasurement of warrant liabilities	`FairValueAdjustmentOfWarrants`	$5.48M	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNonoperatingNet`	$15.00K	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNonoperatingNet`	$-8.14M	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-5.47M	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-646.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-37.80M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-45.10M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$104.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$116.00K	USD	1 Quarter
Net loss before allocation to noncontrolling interest	`ProfitLoss`	$-37.90M	USD	1 Quarter
Net loss before allocation to noncontrolling interest	`ProfitLoss`	$-45.22M	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-28.90M	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-27.18M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-10.72M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-16.32M	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss before allocation to noncontrolling interest	`ProfitLoss`	$-37.90M	USD	1 Quarter
Net loss before allocation to noncontrolling interest	`ProfitLoss`	$-45.22M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.73M	USD	1 Quarter
Gain (loss) on remeasurement of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-7.50M	USD	1 Quarter
Gain (loss) on remeasurement of warrant liabilities	`FairValueAdjustmentOfWarrants`	$5.48M	USD	1 Quarter
Non-cash lease expense	`NoncashLeaseExpense`	$170.00K	USD	1 Quarter
Non-cash lease expense	`NoncashLeaseExpense`	$306.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.47M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.25M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$470.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.84M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$12.17M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$457.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.68M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.55M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-112.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-300.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.33M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-17.38M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$14.75M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-47.51M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-37.73M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.66M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.23M	USD	1 Quarter
BlueWalker 3 Satellite - construction in process	`PaymentsForConstructionsInProcess`	$16.91M	USD	1 Quarter
BlueWalker 3 Satellite - construction in process	`PaymentsForConstructionsInProcess`	$160.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.57M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.39M	USD	1 Quarter
Issuance of incentive equity units under employee stock plan	`ProceedsFromStockPlans`	$31.00K	USD	1 Quarter
Issuance of incentive equity units under employee stock plan	`ProceedsFromStockPlans`	$96.00K	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercises`	$2.00K	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
(Repayments of) proceeds from debt	`ProceedsFromRepaymentsOfDebt`	$97.00K	USD	1 Quarter
(Repayments of) proceeds from debt	`ProceedsFromRepaymentsOfDebt`	$-60.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$130.00K	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-482.00K	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-475.00K	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-69.43M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-53.56M	USD	1 Quarter
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$324.54M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$185.70M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$239.26M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$255.11M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$324.54M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$185.70M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$239.26M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$255.11M	USD	Point-in-time
Purchases of construction in process in accounts payable and accrued expenses	`PurchasesOfConstructionInProcessInAccountsPayablesAndAccruedExpenses`	$1.48M	USD	1 Quarter
Purchases of construction in process in accounts payable and accrued expenses	`PurchasesOfConstructionInProcessInAccountsPayablesAndAccruedExpenses`	$3.65M	USD	1 Quarter
Purchases of property and equipment in accounts payable and accrued expenses	`PurchasesOfPropertyAndEquipmentInAccountsPayableAndAccruedExpense`	$426.00K	USD	1 Quarter
Purchases of property and equipment in accounts payable and accrued expenses	`PurchasesOfPropertyAndEquipmentInAccountsPayableAndAccruedExpense`	$1.66M	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$191.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$5.51M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$316.93M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$315.88M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$359.83M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$351.97M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.21M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.47M	USD	1 Quarter
Issuance of incentive units under employee stock plan	`IssuanceOfIncentiveUnitsUnderEmployeeStockPlan`	$30.00K	USD	1 Quarter
Issuance of equity under employee stock plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$96.00K	USD	1 Quarter
Vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$-123.00K	USD	1 Quarter
Warrant exercise	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$1.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-432.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-128.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-37.90M	USD	1 Quarter
Net loss	`ProfitLoss`	$-45.22M	USD	1 Quarter
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$316.93M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$315.88M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$359.83M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$351.97M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss before allocation to noncontrolling interest	`ProfitLoss`	$-37.90M	USD	1 Quarter
Net loss before allocation to noncontrolling interest	`ProfitLoss`	$-45.22M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-432.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-128.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-432.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-128.00K	USD	1 Quarter
Total comprehensive loss before allocation to noncontrolling interest	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-45.34M	USD	1 Quarter
Total comprehensive loss before allocation to noncontrolling interest	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-38.34M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-27.54M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-28.98M	USD	1 Quarter
Comprehensive loss attributable to common stockholders	`ComprehensiveIncomeNetOfTax`	$-16.36M	USD	1 Quarter
Comprehensive loss attributable to common stockholders	`ComprehensiveIncomeNetOfTax`	$-10.79M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.