AST SpaceMobile reported first-quarter 2025 earnings with revenue of $718,000, missing the analyst estimate of $4 million. The company posted a net loss of $45.7 million, or an earnings per share (EPS) of -$0.20, which was slightly better than the anticipated -$0.22 per share. The adjusted loss per share was $0.20, compared to an expected $0.19. GAAP EPS was ($0.20). The company's cash position at the end of the quarter stood at approximately $875 million. AST SpaceMobile provided its first revenue guidance, anticipating $50–75 million in revenue opportunities from early network deployments in the second half of 2025. The company is continuing the rollout of its direct-to-device broadband service in partnership with AT&T, Rakuten, Verizon, and Vodafone, with broadband activations planned across the U.S. and other regions. Beta testing with Verizon is expected by year-end, and full commercial service is targeted for early 2026. The company announced plans for five satellite launches over the next six to nine months, with the first Block 2 BlueBird launch scheduled. AST SpaceMobile is increasing its average per-satellite cost estimate from $19–21 million to $21–23 million, citing tariffs and elevated launch costs due to an accelerated launch schedule. AST SpaceMobile entered a $500 million at-the-market (ATM) equity distribution agreement, and recent updates indicate progress on non-dilutive funding. Short interest in the stock increased to 60 million shares, with 2 million shares added on the day. Shares of AST SpaceMobile rose 5% after hours following the earnings release.