For the year ending 2025-12-31, ASTS had $2,212,426K increase in cash & cash equivalents over the period. -$1,136,258K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net loss before allocation to noncontrolling interest | -461,011 | -526,330 | -222,677 | -103,113 |
| Gain on sale of nano | - | 0 | 0 | 24,542 |
| Depreciation and amortization | 51,111 | 63,340 | 54,469 | 4,711 |
| Amortization of debt issuance costs | 2,728 | 3,734 | 1,155 | - |
| Amortization of debt commitment fee | 4,033 | - | - | - |
| Write off of unamortized debt issuance costs | 0 | 5,483 | - | - |
| Loss on disposal/sale of property and equipment | -4,605 | -2,221 | -110 | -305 |
| Induced conversion expense on convertible notes | 99,681 | - | - | - |
| Non-cash lease expense | - | - | - | 720 |
| Loss (gain) on remeasurement of warrant liabilities | 68,154 | 268,627 | -8,986 | -19,114 |
| Stock-based compensation | 47,490 | 32,039 | 13,289 | 9,391 |
| Non-cash interest expense | 1,361 | - | - | - |
| Paid-in-kind ('pik') interest expense | - | 2,959 | - | - |
| Non-cash interest income | 564 | - | - | - |
| Issuance of common stock for commitment shares | - | 0 | 0 | 332 |
| Loss from equity method investment | -1,205 | - | - | - |
| Accounts receivable | 36,326 | 0 | 0 | 1,993 |
| Prepaid expenses and other current assets | 27,622 | 14,016 | -12,082 | 24,588 |
| Inventory | 10,945 | 0 | 0 | 2,461 |
| Accounts payable and accrued expenses | 32,251 | -6,257 | -149 | 18,438 |
| Operating lease right-of-use assets and operating lease liabilities | - | 349 | 48 | -680 |
| Deferred revenue | - | - | 0 | 2,395 |
| Contract liabilities | 161,516 | 41,968 | - | - |
| Other assets and liabilities | 9,184 | 260 | -1,717 | 16,265 |
| Net cash used in operating activities | -71,517 | -126,143 | -148,942 | -156,464 |
| Purchase of property and equipment | 1,064,741 | 174,127 | 118,807 | 30,317 |
| Bluewalker 3 satellite - construction in process | - | - | - | 26,967 |
| Capital advances to ligado | 420,000 | - | - | - |
| Proceeds from sale of nano, net of cash deconsolidated and transaction costs | - | 0 | 0 | 25,932 |
| Purchase of spectrum intangibles | 56,397 | - | - | - |
| Net cash used in investing activities | -1,541,138 | -174,127 | -118,807 | -31,352 |
| Proceeds from debt | 2,611,523 | 145,000 | 63,500 | 230 |
| Repayments of debt | 5,120 | 48,752 | 242 | - |
| Payment for debt issuance costs | 11,588 | 9,435 | 9,653 | - |
| Proceeds from issuance of common stock | 1,295,894 | 551,947 | 63,767 | 102,023 |
| Proceeds from business combination | - | - | - | 0 |
| Payments for third party equity issuance costs | 24,320 | 12,151 | - | - |
| Direct costs incurred for the business combination | - | - | - | 0 |
| Proceeds from warrant exercises | 0 | 153,618 | 0 | 14 |
| Issuance of equity under employee stock plan | 11,808 | 4,941 | 225 | 73 |
| Employee taxes paid for stock-based compensation awards | 23,018 | 5,201 | 865 | - |
| Purchase of capped call transactions | 98,578 | - | - | - |
| Proceeds from capped call sales | 74,522 | - | - | - |
| Payments for debt commitment fee | 11,000 | - | - | - |
| Proceeds from share issuances to repurchase 2032 4.25 convertible notes | 1,010,887 | - | - | - |
| Payments for repurchase of 2032 4.25 convertible notes | 1,003,522 | - | - | - |
| Net cash provided by financing activities | 3,827,488 | 779,967 | 116,732 | 102,340 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | -2,407 | -260 | -142 | 195 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 2,212,426 | 479,437 | -151,159 | -85,281 |
| Cash, cash equivalents and restricted cash beginning of period | 567,534 | 88,097 | 239,256 | 324,537 |
| Cash, cash equivalents and restricted cash end of period | 2,779,960 | 567,534 | 88,097 | 239,256 |
AST SpaceMobile, Inc. (ASTS)
AST SpaceMobile, Inc. (ASTS)