ASTS Q2 2026: BB7 Incident Drives $0.77 Loss, Far Past Estimates

AST SpaceMobile reported a GAAP diluted loss of $0.77 per share for Q2 2026, missing the consensus estimate of $0.29 by 168%. The headline number was heavily influenced by a $125.9 million loss on involuntary conversion tied to the BB7 launch incident, alongside $63.5 million in stock-based compensation expense. Revenue of $31.52 million also fell short, coming in 8.36% below the $34.40 million consensus, though that figure still represented a year-over-year increase of more than 2,600% from $1.16 million in the same quarter a year ago, driven by gateway deliveries and U.S. Government contract milestones.

Despite the turbulent quarter, management reaffirmed full-year 2026 revenue guidance of $150 million to $200 million, backed by approximately $1.30 billion in contracted revenue backlog. The company also disclosed a pro forma liquidity position exceeding $3.70 billion following a July convertible notes offering. CEO Abel Avellan noted the network has grown to 13 spacecraft in orbit and that BlueBirds 14, 15, and 16 are ready to ship, with the company targeting roughly 45 satellites in orbit by early 2027.

The next milestone investors will be watching is the launch of beta service with select strategic carrier partners, which the company has planned for 2026. AST has 3,000 digital cells already activated across the continental United States, and Block 2 satellites are expected to deliver peak data rates approaching 200 Mbps. Whether the company can hit the lower end of its full-year revenue guidance while absorbing further launch and operational costs will be the key test in the quarters ahead.