ASTS

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PRESS RELEASE

EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Second Quarter 2026 Results

Signed partnerships with over 60 MNO partners globally who collectively cover over 3 billion subscribers

Comprehensive spectrum strategy with shared MNO spectrum and controlled MSS spectrum targeting ~100 MHz access in the U.S. and 60+ MHz access globally on a market-by-market basis

Revenue backlog increased to approximately $1.30 billion in aggregate contracted revenue with commercial partners and contract awards with the United States Government

BlueBird 17 through BlueBird 46 in various stages of production and assembly

MIDLAND, Texas, August 10, 2026 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the second quarter ended June 30, 2026.

“AST SpaceMobile's differentiated technology platform and deep intellectual property portfolio, partner-first mobile network operator strategy, vertically integrated manufacturing capabilities, and comprehensive spectrum strategy are foundational to the space-based cellular broadband market we invented,” commented Abel Avellan, AST SpaceMobile’s Chairman and Chief Executive Officer. “With the largest phased arrays ever deployed in low Earth orbit and a native cellular architecture designed to work directly with standard, unmodified smartphones, we believe we are uniquely positioned to deliver scalable direct-to-device connectivity for both commercial and government customers around the world.”

“Following the recent orbital launch of BlueBirds 11, 12, and 13, our space-based cellular broadband network has now grown to 13 spacecraft in orbit, each the largest ever in low Earth orbit, with approximately 20,000 square feet of combined aperture hardware deployed,” continued Avellan. “As we get ready to ship BlueBirds 14, 15, and 16 and continue expanding our constellation with production ongoing through BlueBird 46, we are preparing to initiate beta services with select strategic partners.”

“AST SpaceMobile is positioned at the forefront of large, diverse, and rapidly expanding market opportunity as the direct-to-device cellular broadband pioneer,” added Avellan. “Beyond addressing the connectivity needs of billions of mobile subscribers, we are pursuing a broad range of mission critical applications, including government communications and non-communications, radar, emergency response, Internet of Things, AI edge compute and other advanced connectivity solutions. Our growing commercial and government programs,

expansive spectrum portfolio, and fortified balance sheet provide us with the flexibility to capture opportunities across an expanding total addressable market. We are continuing to scale our network, advance vertical integration, and secure additional access to orbit to take advantage of the growing number of opportunities in front of us.”

Business Update

• Differentiated technology platform and comprehensive spectrum strategy enables space-based cellular broadband connectivity as well as many other mission-critical applications

o Largest phased arrays ever placed into low Earth orbit means more power and bandwidth, with more precise beams for communications with small, unmodified smartphones, in addition to facilitating additional use cases beyond consumer communications

o Block 2 satellites expected to deliver peak data rates approaching 200 Mbps with space-based cellular broadband recently demonstrated at nearly 100 Mbps on the Block 1 BlueBird

o Comprehensive spectrum strategy with shared MNO spectrum and controlled MSS spectrum targeting ~100 MHz access in the U.S. and 60+ MHz access globally on a market-by-market basis

o Proprietary ASIC with up to 10 GHz of processing bandwidth, per satellite enables 10x throughput improvement relative to Block 1 satellites and up to 10x improvement in user experience unlocked through AI-enabled spectrum management

o Native cellular architecture favors MNOs and regulators using existing commercially trusted baseband ground-based hardware, with traffic remaining in-country

• Partner-first strategy positions AST SpaceMobile as the direct-to-device partner of choice for mobile network operators globally

o Signed partnerships with over 60 MNO partners globally who collectively cover over 3 billion subscribers

o New joint-venture planned by top three U.S. MNOs expected to enable space-based cellular broadband connectivity to every American

o Network integration and testing activities now underway across European countries with Vodafone, Orange, Telefónica, Vodafone Ukraine, and Deutsche Telekom as well as in other key markets including Canada, Japan, and Saudi Arabia, subject to final regulatory approvals

• Total Addressable M

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Exhibit 99.1

AST SpaceMobile Announces Proposed Private Offering of $1.0 Billion of Convertible Senior Notes Due 2034

July 15, 2026

Convertible Notes Offering

MIDLAND,

Texas—(BUSINESS WIRE) – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first

and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced its intent to offer, subject to market conditions and other factors, $1.0 billion aggregate principal amount of convertible senior notes due 2034 (the “Notes”) in a private offering (the “Notes Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). AST SpaceMobile also intends to grant the initial purchasers of the Notes in the Notes Offering an option to purchase, for settlement within a 13-day period beginning on, and including, the first date on which the Notes are issued, up to an additional $150 million aggregate principal amount of Notes.

The Notes will be senior, unsecured obligations of AST SpaceMobile, and will accrue interest payable semiannually in arrears. The Notes will mature on February 1, 2034, unless earlier converted or repurchased. The Notes will be convertible into cash, shares of AST SpaceMobile’s Class A common stock, or a combination thereof, at AST SpaceMobile’s election. The interest rate, initial conversion rate, and other terms of the Notes are to be determined upon pricing of the Notes Offering.

AST SpaceMobile intends to use a portion of the net proceeds from the Notes Offering to pay the cost of the capped call transactions described below. AST SpaceMobile intends to use the remaining net proceeds from the Notes Offering to pursue an expanding universe of growth initiatives and secure additional access to orbit for its space-based cellular broadband network, including partnerships and/or acquisitions to further vertically integrate its business and mitigate risks associated with third-party launch providers. AST SpaceMobile currently does not have any understandings or agreements with respect to any such strategic transactions. If the initial purchasers exercise their option to purchase additional Notes, AST SpaceMobile expects to use a portion of the net proceeds from the sale of the additional Notes to enter into additional capped call transactions with the option counterparties (as defined below), with the remainder of the net proceeds to be used as described above.

Capped Call Transactions

In connection with the pricing of the Notes, AST SpaceMobile expects to enter into capped call transactions with one or more of the initial purchasers of the Notes or affiliates thereof and/or other financial institutions (the “option counterparties”). The capped call transactions will cover, subject to customary adjustments, the number of shares of AST SpaceMobile’s Class A common stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to AST SpaceMobile’s Class A common stock upon any conversion of Notes and/or offset any cash payments AST SpaceMobile is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap.

In connection with establishing their initial hedges of the capped call transactions, AST SpaceMobile expects the option counterparties or their respective affiliates will enter into various derivative transactions with respect to AST SpaceMobile’s Class A common stock and/or purchase shares of AST SpaceMobile’s Class A common stock concurrently with or shortly after the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of AST SpaceMobile’s Class A common stock or the Notes at that time.

In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to AST SpaceMobile’s Class A common stock and/or purchasing or selling AST SpaceMobile’s Class A common stock or other securities of AST SpaceMobile in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so during the 20 trading day period beginning on the 21st scheduled trading day prior to the maturity date of the Notes, or, to the extent AST SpaceMobile exercises the relevant termination election under the capped call transactions, following any repurchase or conversion of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of AST SpaceMobile’s Class A common stock or the Notes, which could affect a noteholder’s ability to convert the Notes

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PRESS RELEASE

EXHIBIT 99.1

AST SpaceMobile Provides Business Update and First Quarter 2026 Results

Network deployment continues with next orbital launch in mid-June with BlueBird 8, BlueBird 9 and BlueBird 10 on a Falcon 9 launch vehicle

Vertical integration reaching scale with BlueBird 11 through BlueBird 33 in advanced stages of production and assembly

Achieved 98.9 Mbps peak data speeds using in-orbit Block 1 BlueBird satellite over international waters

FCC authorizes commercial SpaceMobile Service in the United States with grant of Supplemental Coverage from Space for direct-to-device broadband connectivity

MIDLAND, Texas, May 11, 2026 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the first quarter ended March 31, 2026.

“AST SpaceMobile is accelerating manufacturing, regulatory progress, commercial partnerships, and government programs, furthering our position as the only technology positioned to capture the massive direct to device broadband opportunity in full,” commented Abel Avellan, AST SpaceMobile’s Chairman and Chief Executive Officer. “BlueBird 8, BlueBird 9, and BlueBird 10 will be launched into low Earth orbit in mid-June and we are in advanced stages of production and assembly of BlueBird 11 through BlueBird 33.”

“Our network deployment for 2026 is targeting approximately 45 satellites in orbit, supported by our manufacturing cadence and multi-partner launch strategy” added Avellan. “We have a robust global spectrum portfolio, the industry’s largest global commercial ecosystem, and a fortress balance sheet, positioning us for success as we create the space-based cellular broadband market.”

Business Update

• Network deployment targeting approximately 45 BlueBird satellites in orbit during 2026, supported by our manufacturing cadence and agreements with multiple launch providers, including Blue Origin, SpaceX, and others

o BlueBird 8, BlueBird 9, and BlueBird 10 on track for delivery to Cape Canaveral and an expected orbital launch in mid-June on a Falcon 9 launch vehicle

o Vertically integrated production, supported by over 500,000 sq ft of manufacturing and operations space, is reaching scale with BlueBird 11 through BlueBird 33 in advanced stages of production and assembly and phased arrays completed through BlueBird 28

o BlueBird 6 continues to operate as expected following successful deployment of the largest-ever phased array in low Earth orbit

• Continued momentum of network deployment and commercialization efforts across partner ecosystem ahead of scaled commercial service activation, beginning with scaled ground integration efforts in the United States, Canada, United Kingdom, India, Brazil, Spain, Germany, France, Romania, Saudi Arabia, Japan, New Zealand, the Philippines, Cote d’Ivoire, Kenya, Nigeria, and Senegal, targeting a combined population of 2.9 billion people

o FCC grant of Supplemental Coverage from Space authorizes provision of commercial SpaceMobile Service in the United States for direct-to-device broadband connectivity leveraging a network of up to 248 satellites

o Commercial partner ecosystem continues to expand through agreements with Telus in Canada in addition to existing partner Bell Canada and Axian Telecom in Africa, in addition to existing partners Vodacom, Orange and MTN – totaling nearly 60 global mobile network operator partners who cover over 3 billion subscribers

• New record achieved with 98.9 Mbps peak data speeds from in-orbit Block 1 BlueBird satellite directly to an unmodified smartphone over international waters

o Block 2 BlueBird satellite in orbit today is expected to nearly double the peak data speeds recently achieved using our on-orbit Block 1 BlueBird satellites

o Developing AI edge computing and AI spectrum management features for on-orbit capabilities, with BlueBird integration targeted by year-end

• On track to achieve full year 2026 revenue guidance of $150.0 million to $200.0 million, primarily driven by mobile network partners and the U.S. Government

o First quarter revenue was $14.7 million, consistent with plans for quarterly revenue ramp during 2026

o Approximately half of the full year 2026 revenue guidance is expected to be achieved from existing contracted revenue backlog

o Won three new awards since March 2026 with the U.S. Government, through prime contractors, as a result of successful on-orbit milestone activities

• Company has the key assets – intellectual property, partnerships, balance sheet cash, access to shared MNO and MSS spectrum, over 500,000 square feet of manufacturing and operations space globally – to build and launch over 100 BlueBird satellites to enable global coverage of SpaceMobile Service

o Dedicat

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PRESS RELEASE

EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Fourth Quarter and Full Year 2025 Results

Reported revenue of $70.9 million for the full year 2025, driven by mobile network operator partners and the U.S. Government

Secured over $1.2 billion in aggregate contracted revenue commitments from partners

Successfully completed unfolding of BlueBird 6, the largest commercial communications array ever deployed in low Earth orbit, expected to greatly exceed 120 Mbps peak data speeds

Continued orbital launch campaign with encapsulation of BlueBird 7 at Cape Canaveral in February and expected launch during March, with additional launches expected every one to two months on average to reach goal of 45 to 60 satellites in orbit by end of 2026

MIDLAND, Texas, March 2, 2026 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the fourth quarter and full year ended December 31, 2025.

“For the first time in 2025, AST SpaceMobile became a revenue generating business and it significantly advanced all key aspects of our operations including commercial, government, manufacturing, spectrum rights, IP portfolio, and capital position,” commented Abel Avellan, AST SpaceMobile’s Chairman and Chief Executive Officer. “In 2026, we expect to scale our space-based direct-to-device network from initial commercial activation toward the start of broader commercial service.”

Business Update

• Reported revenue of $70.9 million for the full year 2025, driven by mobile network operator partners and the U.S. Government

o Product revenue underpinned by delivery of 15 gateways across five continents

o Service revenue across multiple contracts and use cases under development with the U.S. Government

o Revenue expected to grow during 2026 ahead of commercial service activation, supported by backlog of mobile network operator partner revenue and U.S. Government contract milestones

• Continued orbital launch campaign with encapsulation of BlueBird 7 at Cape Canaveral in February and expected launch during March, with additional launches expected every one to two months on average to reach goal of 45 to 60 satellites in orbit by end of 2026

o Successfully completed unfolding of BlueBird 6, the largest commercial communications array antenna ever deployed in LEO, expected to greatly exceed the 120 Mbps peak data speeds

o BlueBird 8 to BlueBird 29 are in various stages of production and expect to complete assembly of 40 satellites equivalent of microns by first half of 2026

o Acquired fourth site in Midland, Texas for dedicated micron production, increasing total manufacturing square footage soon to be over 500,000 globally

• Continued to grow partner ecosystem through multiple agreements as SpaceMobile network commercialization efforts advance ahead of scaled commercial and government activation

o Secured over $1.2 billion of aggregate contracted revenue commitments from commercial partners

o Received $175.0 million commercial prepayment from stc Group as part of 10-year, regional definitive commercial agreement

o Expanded commercial partnerships globally with Orange, Telefonica, CK Hutchison, Taiwan Mobile, Sunrise, and progressed initiatives with Vodafone

o Awarded $30.0 million prime contract award by the Space Development Agency for HALO Europa Track 2 commercial solutions program as demand for differentiated on-orbit capabilities and tactical use cases grows

o Awarded prime contract position on U.S. Missile Defense Agency SHIELD Program

• Robust balance sheet with over $3.9 billion in cash, cash equivalents, restricted cash and liquidity, pro forma for the convertible notes offering and availability under the ATM facility (as of December 31, 2025)

o In February 2026, raised $1.075 billion of gross proceeds from a new 10-year convertible senior notes offering, with a 2.250% coupon and effective conversion price of $116.30 per share of Class A common stock

o In February 2026, efficiently managed capital structure and financial assets, equitizing $250.0 million of the 2.375% convertible senior notes due 2032 and $46.5 million of the 4.250% convertible senior notes due 2032

Fourth Quarter and Full Year 2025 Financial Highlights

• Fourth quarter revenue of $54.3 million and full year revenue of $70.9 million, driven by gateway deliveries and U.S. Government milestones met

• Total operating expenses for the fourth quarter of 2025 were $126.6 million, including $30.9 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $32.2 million as compared to $94.4 million in the third quarter of 2025 due to a $23.9 million increase in cost of revenues mainly attributable to inc

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Exhibit 99.1

Draft: February 11, 2026

Risks Related to Our Business and Industry

We may not be able to raise additional funds for continued operations, to initiate our SpaceMobile Service and for the Ligado Transaction when we need them on favorable terms or at all.

We will need to raise significant additional capital for operating and capital expenditures to design, assemble and launch additional BB satellites beyond the currently funded constellation size and in order to enhance coverage and system capacity in response to incremental market demand.

We currently estimate the average capital costs, consisting of direct materials and launch costs, for a constellation of over 90 Block 2 BB satellites to be approximately $21.0 million to $23.0 million per satellite, with initial launches higher than that range and trending down over time as we optimize payloads and launch terms and evaluate a multitude of launch opportunities on an ongoing basis. These estimates exclude cost of certain initial satellites used to validate satellite performance and operations. We have entered into launch agreements with multiple launch service providers that will enable us to continue our planned launch campaign to launch over 60 Block 2 BB satellites. We have commenced our launch campaign with the launch of BB6 on December 23, 2025 and plan to launch approximately 45 to 60 Block 2 BB satellites by the end of 2026. While launch agreements for our satellites are critical in facilitating our ability to provide the SpaceMobile Service, these agreements and future agreements, once executed, increase our financial risks significantly.

We intend to seek to raise additional capital to fund the design, assembly and launch of our constellation and operation of the commercial services through the issuance of equity, equity-linked or debt securities (secured or unsecured), secured or unsecured loans or other debt facilities, and credit from government or financial institutions or commercial partners, including through our at-the-market programs. Our ability to access the capital markets during this period may require us to modify our current expectations.

In March 2025, our subsidiaries AST & Science, LLC (“AST LLC”) and Spectrum USA I, LLC (“SpectrumCo”) entered into agreements with Ligado Networks LLC under which we will receive long-term access to up to 45 MHz of lower mid-band spectrum in the United States for direct-to-device satellite applications (the “Ligado Transaction”). The agreements were entered into as part of the restructuring of Ligado LLC, which together with certain of its direct and indirect subsidiaries (together with Ligado Networks LLC, “Ligado”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court on January 5, 2025. The Bankruptcy Court approved the Ligado Transaction on June 23, 2025 and confirmed Ligado’s Chapter 11 plan on or about September 29, 2025.

Pursuant to the Ligado Transaction, we have agreed to pay Ligado additional consideration totaling $550.0 million in cash and, provided that Ligado’s Chapter 11 bankruptcy plan has been confirmed and the financial sponsors of Ligado provide a backstop to Ligado that is acceptable to the Company in support of a full refund of payments by Ligado in the event applicable regulatory approvals are not obtained and the closing does not occur (the “Backstop Commitment”), of such amount $535.0 million will be paid to Ligado for the benefit of Inmarsat as follows: $420.0 million on October 31, 2025, $100.0 million on March 31, 2026 and $15.0 million upon receipt of specified regulatory approvals and the closing of the Ligado Transaction. The remaining $15.0 million will be paid directly to Ligado upon closing of the Ligado Transaction. We have made the first $420.0 million payment to Ligado for the benefit of Inmarsat, which was required to be made by October 31, 2025. The Backstop Commitment has been memorialized in an amendment to Ligado’s debtor in possession financing arrangements and has been approved by the Bankruptcy Court. The funds under the $520 million Backstop Commitment will be available to be drawn by Ligado in the event the applicable regulatory approvals are not obtained in accordance with the definitive documents between us and Ligado, and is subject to the satisfaction of certain other limited conditions customary for funds certain financings. The proceeds of the Backstop Commitment can only be used to refund us for the amounts that we paid to Ligado for the benefit of Inmarsat prior to receipt of the applicable regulatory approvals.

In connection with the Ligado Transaction, BackstopCo, LLC, a subsidiary of AST LLC, entered into a loan agreement with UBS AG, Stamford Branch, as lender (the “UBS Loan Agreement”) on October 31, 2025, which provides for a cash collateralized term loan facility in an aggregate principal amount of $420.0 million, to finance the f

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EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Third Quarter 2025 Results

Over $1 billion in aggregate contracted revenue commitments from partners reflect robust demand as company advances towards commercial service rollout

Combined cash and liquidity of $3.2 billion in pro forma cash, cash equivalents, and restricted cash and availability under the ATM facility

MIDLAND, Texas, November 10, 2025 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the third quarter ended September 30, 2025.

“AST SpaceMobile continues to lead the direct-to-device space-based cellular broadband industry,” commented Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. “During the past few months, commercial activity has significantly accelerated, demonstrating the robust demand for our solution across the ecosystem.”

Avellan added, “Our definitive commercial agreements with Verizon and stc Group are milestone achievements, representing transformational partnerships stemming from our commercial and network operator partner strategy as we continue to build long-term commercial relationships with industry leaders around the world, which includes agreements with over 50 MNO partners with nearly 3 billion subscribers globally.”

Business Update

• Significant contract wins with the signing of definitive commercial agreements with stc Group and Verizon, as well as additional traction with U.S. Government customer

o stc Group agreement covers Saudi Arabia and other key regional markets in the Middle East and North Africa, with a 10-year term and $175.0 million prepayment for future services

o Verizon agreement further expands strategic partnership announced in May 2024 and positions AST SpaceMobile to target 100% geographical coverage in the continental United States

o Received new contract award with the U.S. Government as prime contractor, subject to contract negotiations, while continuing to perform against existing contracts

• Secured over $1.0 billion in aggregate contracted revenue commitments from partners as commercialization efforts and integration with partner networks accelerate

o Initial activation in key markets including nationwide intermittent service across the continental United States, with plans for activations in Canada, Japan, Saudi Arabia, and the United Kingdom in early 2026

o Announced intention with Vodafone for new EU constellation serving mobile network operators across Europe, with Germany as satellite operations center

o GAAP revenue of $14.7 million in Q3 of 2025 driven by U.S. Government contract milestones and gateway deliveries

o Company reiterates its second-half 2025 revenue guidance of $50.0 million to $75.0 million

• Started multi-provider orbital launch campaign following shipment of BlueBird 6 to India with launch expected in first half of December

o BlueBird 7 expected to ship to Cape Canaveral in November with orbital launch anticipated shortly thereafter

o On track for five orbital launches expected by the end of Q1 2026, with launches every one to two months on average to reach goal of 45 to 60 satellites by end of 2026

o BlueBird 8 to BlueBird 19 are in various stages of production and expect to complete assembly of 40 satellites equivalent of microns by early 2026

o Proprietary ASIC with up to 10 GHz of processing bandwidth planned for first integration during Q1 2026

• Robust balance sheet with over $3.2 billion in cash, cash equivalents, restricted cash and liquidity. pro forma for convertible notes offering, monetized capped call, and aggregate proceeds and availability under the ATM facility (as of September 30, 2025)

o Raised $1.15 billion of gross proceeds from new 10-year convertible senior notes offering, with a 2.00% coupon and effective conversion price of $96.30 per share of Class A common stock

o Efficiently managed capital structure and financial assets, reducing the 4.25% convertible senior notes to $50.0 million outstanding and monetizing the related capped call for $74.5 million in net cash proceeds

Third Quarter 2025 Financial Highlights

• Revenue of $14.7 million during the third quarter driven by gateway deliveries and U.S. Government milestones

• Total operating expenses for the third quarter of 2025 were $94.4 million, including $26.7 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $20.4 million as compared to $74.0 million in the second quarter of 2025 due to a $12.2 million increase in engineering services costs, a $5.5 million increase in cost of gateway deliveries, a $2.6 million increase in general and administrative costs, and a $1.0 million increase in depreciati

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Exhibit 99.1

AST SpaceMobile Announces Proposed Private Offering of $850.0 Million of Convertible Senior Notes Due 2036

October 21, 2025

Convertible Notes Offering

MIDLAND,

Texas—(BUSINESS WIRE) – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first

and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced its intent to offer, subject to market conditions and other factors, $850.0 million aggregate principal amount of convertible senior notes due 2036 (the “Notes”) in a private offering (the “Notes Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). AST SpaceMobile also intends to grant the initial purchasers of the Notes in the Notes Offering an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $150.0 million aggregate principal amount of Notes.

The Notes will be senior, unsecured obligations of AST SpaceMobile and will accrue interest payable semiannually in arrears. The Notes will mature on January 15, 2036, unless earlier converted, redeemed or repurchased. The Notes will be convertible into cash, shares of AST SpaceMobile’s Class A common stock, or a combination thereof, at AST SpaceMobile’s election. The interest rate, initial conversion rate, and other terms of the Notes are to be determined upon pricing of the Notes Offering.

AST SpaceMobile intends to use the net proceeds from the Notes Offering for general corporate purposes, including without limitation funding the deployment of AST SpaceMobile’s worldwide constellation of satellites in anticipation of adding incremental strategic markets for its SpaceMobile Service.

The Notes will only be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act by means of a private offering memorandum. Neither the Notes nor the shares of AST SpaceMobile’s Class A common stock potentially issuable upon conversion of the Notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, such registration requirements.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the Notes or any shares of AST SpaceMobile’s Class A common stock potentially issuable upon conversion of the Notes and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.

Registered Direct Offering/Existing Convertible Notes Repurchases

In a separate press release, AST SpaceMobile also announced today its intention to offer, subject to market and other conditions, shares of its Class A common stock in a separate, registered direct offering.

AST SpaceMobile intends to use the net proceeds from the registered direct offering, together with cash on hand, to repurchase up to $50.0 million aggregate principal amount of its existing 4.25% convertible senior notes due 2032 (the “Existing Notes”) in the existing convertible notes repurchases described below.

Concurrently with the pricing of the Notes Offering, AST SpaceMobile expects to enter into one or more separate, privately negotiated transactions with a limited number of holders of its Existing Notes to repurchase up to $50.0 million principal amount of the Existing Notes for cash (the “existing convertible notes repurchases”). The terms of each existing convertible notes repurchase will depend on a variety of factors, including the market price of AST SpaceMobile’s Class A common stock and the trading price of the Existing Notes at the time of such repurchase, and the existing convertible notes repurchases will be subject to closing conditions that may not be consummated. No assurance can be given as to how many, if any, of the Existing Notes will be repurchased or the terms on which they will be repurchased. In addition, following the completion of the Notes Offering, AST SpaceMobile may repurchase additional Existing Notes.

In connection with the existing convertible notes repurchases, certain holders of the Existing Notes that participate in such repurchases may purchase or sell shares of AST SpaceMobile’s Class A common stock in the open market or enter into or unwind various derivative transactions with respect to AST SpaceMobile’s Class A common stock to unwind any hedge positions they may have with respect to the Existing Notes or to hedge or unwind their exposure in connection with such repurchases.

The amount of AST SpaceMobi

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PRESS RELEASE

EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Second Quarter 2025 Results

MIDLAND, Texas, August 11, 2025 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the second quarter ended June 30, 2025.

“We are confirming our fully-funded plan to deploy 45 to 60 satellites into orbit by 2026 to support continuous service in the US, Europe, Japan, and other strategic markets, including the U.S. Government. We also have planned orbital launches every one to two months on average during 2025 and 2026,” commented Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. “In orbit today, we have six satellites, five fully operational and one test satellite, for both commercial and government applications. We have completed the assembly of microns for phased arrays of eight Block 2 BlueBird satellites, and we are on target to complete 40 satellites equivalent of microns by early 2026 to support full voice, data, and video space-based cellular broadband services.”

Abel added, “Following our recent announcement on L/S-Band spectrum access, we now have a path for premium spectrum on a global basis, which is uniquely valuable with our innovative technology backed by over 3,700 patent and patent pending claims to support up to 120 Mbps peak data rates per cell globally.”

Business Update

• Preparing to deploy nationwide intermittent service in the United States by the end of 2025, followed by the United Kingdom, Japan, and Canada in Q1 2026

o Continued expectations for revenue of $50.0 million to $75.0 million in the second half 2025, from government and commercial customers

• Completed assembly of microns for phased arrays of eight Block 2 BlueBird satellites and expect to complete assembly of 40 satellites equivalent of microns by early 2026

o Anticipating at least five orbital launches by end of Q1 2026, with orbital launches every one to two months on average to reach goal of 45 to 60 satellites launched during 2025 and 2026

o FM1 is expected to be ready to ship in August 2025 with a mutually determined launch date thereafter, becoming AST SpaceMobile’s seventh satellite in orbit

o Company manufacturing footprint with 95% vertical integration to grow to over 400,000 square feet by end of 2025 across Texas, Europe and other locations globally, supported by a global workforce of over 1,200 people

• Expanded spectrum strategy with agreement to acquire 60 MHz of global S-Band spectrum priority rights, augmenting existing 3GPP cellular spectrum strategy and strengthening position within wireless ecosystem

o S-Band spectrum access positions AST SpaceMobile to further grow subscriber capacity and bring additional services to targeted markets around the world

o Received Court approval for L-Band definitive documentation, providing AST SpaceMobile long-term access to up to 45 MHz of L-Band, premium lower mid-band spectrum, in the U.S. and Canada, subject to regulatory approvals

o Both S-Band and L-Band spectrum strategies further enable a true broadband experience directly from space to everyday smartphones, with up to 120 Mbps peak data speeds

• Advanced commercialization efforts with expansion of partnerships, derived from agreements with more than 50 mobile network operators globally, which have nearly 3.0 billion existing subscribers, while receiving additional U.S. Government contract awards

o Vi partnership seeks to expand space-based mobile connectivity and solutions for consumer, enterprise, and IoT sectors in India, one of the world's largest telecom markets

o SatCo, the AST SpaceMobile and Vodafone jointly-owned European distribution entity, received expressions of interest from network operators in 21 of 27 EU member states for a sovereign direct-to-device mobile broadband satellite service

o Demonstrated first tactical non-terrestrial network (NTN) connectivity over standard mobile devices, with participation from multiple branches of U.S. armed forces under previously announced contract with the Defense Innovation Unit (DIU)

o Signed two additional early-stage contracts for the U.S. Government end customer, bringing the total to eight contracts to date with the U.S. Government as an end customer

• Over $1.5 billion in balance sheet cash, cash equivalents, and restricted cash (as of June 30, 2025), pro forma for convertible notes offering and sales under the now terminated ATM facility

o Raised $575.0 million of gross proceeds from new 7-year convertible senior notes offering, with a 2.375% coupon and effective conversion price of $120.12 per share of Class A common stock

o Managed long-term capital structure with two repurchase transactions of the 4.25% convertible senior notes issue

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EX-99.1

Exhibit 99.1

AST SpaceMobile Announces Proposed Private Offering of $500.0 Million of Convertible Senior Notes Due 2032

July 24, 2025

Convertible Notes Offering

MIDLAND,

Texas—(BUSINESS WIRE) – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first

and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, today announced its intent to offer, subject to market conditions and other factors, $500.0 million aggregate principal amount of convertible senior notes due 2032 (the “Notes”) in a private offering (the “Notes Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). AST SpaceMobile also intends to grant the initial purchasers of the Notes in the Notes Offering an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $75.0 million aggregate principal amount of Notes.

The Notes will be senior, unsecured obligations of AST SpaceMobile, will accrue interest payable semiannually in arrears and will mature on October 15, 2032, unless earlier converted, redeemed or repurchased. The Notes will be convertible into cash, shares of AST SpaceMobile’s Class A common stock, or a combination thereof, at AST SpaceMobile’s election. The interest rate, initial conversion rate, and other terms of the Notes are to be determined upon pricing of the Notes Offering.

AST SpaceMobile intends to use a portion of the net proceeds from the Notes Offering to pay the cost of the capped call transactions described below. AST SpaceMobile intends to use the remaining net proceeds from the Notes Offering for general corporate purposes. If the initial purchasers exercise their option to purchase additional Notes, AST SpaceMobile expects to use a portion of the net proceeds from the sale of the additional Notes to enter into additional capped call transactions with the option counterparties (as defined below), with the remainder of the net proceeds to be used for general corporate purposes.

Capped Call Transactions

In connection with the pricing of the Notes, AST SpaceMobile expects to enter into capped call transactions with one or more of the initial purchasers of the Notes or affiliates thereof and/or other financial institutions (the “option counterparties”). The capped call transactions will cover, subject to customary adjustments, the number of shares of AST SpaceMobile’s Class A common stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to AST SpaceMobile’s Class A common stock upon any conversion of Notes and/or offset any cash payments AST SpaceMobile is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap.

In connection with establishing their initial hedges of the capped call transactions, AST SpaceMobile expects the option counterparties or their respective affiliates will enter into various derivative transactions with respect to AST SpaceMobile’s Class A common stock and/or purchase shares of AST SpaceMobile’s Class A common stock concurrently with or shortly after the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of AST SpaceMobile’s Class A common stock or the Notes at that time.

In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to AST SpaceMobile’s Class A common stock and/or purchasing or selling AST SpaceMobile’s Class A common stock or other securities of AST SpaceMobile in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so during the 20 trading day period beginning on the 21st scheduled trading day prior to the maturity date of the Notes, or, to the extent AST SpaceMobile exercises the relevant termination election under the capped call transactions, following any repurchase, redemption or conversion of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of AST SpaceMobile’s Class A common stock or the Notes, which could affect a noteholder’s ability to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of Notes, it could affect the number of shares, if any, and value of the consideration that a noteholder will receive upon conversion of its Notes.

The Notes will only be offered and sold to persons reasonably believed to be qualified institutional buyers

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EXHIBIT 99.1

AST SpaceMobile Provides Business Update and First Quarter 2025 Results

MIDLAND, Texas, May 12, 2025 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the first quarter ended March 31, 2025.

“AST SpaceMobile continues to execute on our bold strategy, progressing at an accelerated pace toward fulfilling our important mission of connecting the unconnected worldwide,” said Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. “Today, we are at an inflection point for the company. We have ramped up manufacturing capacity and are now able to announce our plans to support five scheduled orbital launches over the next six to nine months. Commercially, we have also expanded our U.S. Government opportunity and are in a position to start generating meaningful revenue during 2025.”

Business Update

• Announced multi-provider satellite orbital launch plan with five contracted launches over the next six to nine months

o Anticipate orbital launches every one to two months on average during 2025 and 2026

o First Block 2 BlueBird satellite expected to ship in Q2 2025, with orbital launch scheduled during July 2025

o On track with satellite manufacturing of 40 Block 2 BlueBird satellites and the procurement of components and materials needed to complete fully assembled microns and phased arrays for over 50 satellites in total

o Satellite manufacturing expected to reach a cadence of six satellites per month during 2025, with phased array equivalent cadence reaching the target during Q3 2025

o Manufacturing and orbital launch schedules support continuous cellular broadband coverage goals in key markets such as the United States, Europe, Japan, the U.S. Government and other strategic markets during 2026

• Advanced SpaceMobile network commercialization efforts, with expected second half 2025 revenue opportunity of $50.0 million to $75.0 million

o Company plans to activate initial cellular broadband capabilities across the United States, Europe and Japan with AT&T, Rakuten, Verizon, and Vodafone using premium low-band wireless spectrum

o Ramping up activities under the previously announced $43.0 million U.S. Space Development Agency contract and signed a new contract with the Defense Innovation Unit (DIU) for up to $20.0

million in revenue, via a prime contractor, for SpaceMobile capabilities with multiple U.S. Government agencies in support of government communications over land, sea, and air

o Gateway equipment bookings from MNO partners of $13.6M in Q1 2025, with expected gateway equipment bookings of approximately $10.0 million, on average, per quarter during 2025, as a precursor to the rollout of SpaceMobile Service

o Two-way broadband video call completed by Rakuten Mobile in front of a live audience using unmodified smartphones on the SpaceMobile network enabled by a Block 1 BlueBird satellite in orbit today, following successful video calls with AT&T, Vodafone, and Verizon

• Continued to make strong progress on regulatory approvals and spectrum-related topics with partners and key industry groups

o Received Special Temporary Authority from the FCC for FirstNet evaluation on public safety’s Band 14 spectrum, supporting mission-critical capabilities with direct-to-device cellular broadband connectivity

o Established coordination agreement with the U.S. National Science Foundation covering satellite and ground-based astronomy operations

o Well positioned to complete full regulatory authorizations for commercial service in the United States and Europe

o Signed definitive agreements for long-term access to up to 45 MHz of premium lower mid-band spectrum in the U.S. for direct-to-device applications

• Robust balance sheet with $874.5 million in cash, cash equivalents, and restricted cash as of March 31, 2025, with continued access to diverse capital markets

o Completed initial clearances for quasi-governmental funding with the Export-Import Bank of the United States (EXIM) and the International Finance Corporation (IFC), beginning six to nine month diligence and documentation phase for over $500.0 million in potential new non-dilutive capital

First Quarter 2025 Financial Highlights

• As of March 31, 2025, we had cash, cash equivalents, and restricted cash of $874.5 million

• Total operating expenses for the first quarter of 2025 were $63.7 million, including $18.8 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $3.1 million as compared to $60.6 million in the fourth quarter of 2024 due to a $2.5 million increase in depreciation and amortization expense, a $2.5 million increase in general and administrative costs, and a $1.8

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EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Fourth Quarter and Full Year 2024 Results

MIDLAND, Texas, March 3, 2025 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update and results for the fourth quarter and full year ended December 31, 2024.

"2024 was a milestone year for AST SpaceMobile, and we enter 2025 even better positioned to lead the emerging direct-to-device satellite communications industry that we invented," said Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. "The many pieces of our plan are rapidly coming into place. We advanced our customer ecosystem, formalized definitive commercial agreements, and expanded our U.S. Government capabilities. Finally, we completed a carefully structured financing transaction with minimal dilution to current shareholders, enabling us to accelerate our manufacturing efforts and start 2025 stronger than ever."

“With nearly $1.0 billion in cash on our balance sheet pro forma for the recent offering of convertible notes, an alliance of industry leading partners, and our proprietary technology, we are well-positioned for continued success,” added Avellan. “We are laser-focused on building and deploying satellites and expanding our commercial agreements during 2025, moving toward commercial-scale revenues. Our vision has never been clearer, and we believe we have the resources and capabilities to execute our plans.”

Business Update

• Significant advancement in commercialization of SpaceMobile network with new commercial agreements with Vodafone and the U.S. Government

o Vodafone definitive commercial agreement through 2034 establishes framework to offer SpaceMobile service in its 20+ countries across Europe and Africa

o Secured contract for $43.0 million in expected revenue with the U.S. Space Development Agency (SDA) through a prime contractor, following successful testing on BlueWalker-3

o Announced plans to form European distribution entity, jointly owned with Vodafone to accelerate commercialization across European continent

o Company has agreements with approximately 50 mobile network operators globally, which have nearly 3.0 billion existing subscribers globally

• Achieved full operational status for first five BlueBird commercial satellites, each the largest-ever commercial communications arrays deployed in low Earth orbit (LEO)

o Successfully conducted capability demonstrations of two-way video call transmission with AT&T, Verizon, and Vodafone using unmodified smartphones in premium low-band wireless spectrum

o Preparing to begin testing service with AT&T and Verizon in the U.S., Vodafone in the UK and Turkey, and Rakuten in Japan

o Received FCC grant of Special Temporary Authority (STA) with AT&T and Verizon in the U.S. to facilitate initial services, targeting approximately 100% nationwide coverage from space with over 5,600 coverage cells

• Accelerated satellite manufacturing with planning and production of 40 Block 2 BlueBird satellites underway at AST SpaceMobile manufacturing facilities in Midland, Texas

o Additionally, accelerated the procurement of components and materials needed to complete fully assembled microns and phased array for over 50 satellites in total

o Exercised option for additional orbital launches, with full contracted launch capacity now for approximately 60 satellites during 2025 and 2026

o Completed bring-up and initial validation of novel ASIC, a custom, low-power chip designed to support up to 10,000 MHz in processing bandwidth per satellite with peak data transmissions speeds of up to 120 Mbps

o Block 2 BlueBird satellites span an unprecedented 2,400 square feet, more than 3x larger than the first five BlueBird satellites in orbit today

• Spectrum agreement for long-term access to up to 45 MHz of premium lower mid-band spectrum in the U.S. for direct-to-device applications will enable peak data transmission speeds of up to 120 Mbps nationwide

o Enhances existing shared cellular spectrum strategy with mobile network operator partners, expanding potential subscriber capacity and services in the U.S., the most valuable wireless market in the world

o Matches 80+ year usage rights for a large block of attractive spectrum with technology leadership and largest-ever LEO communications arrays for direct-to-device cellular broadband

o Strengthens position within broader wireless ecosystem with additional core strategic asset

• Robust balance sheet with nearly $1.0 billion in cash, cash equivalents, and restricted cash (as of December 31, 2024), pro forma for convertible notes offering

o Closed $460.0 million of gross proceeds from 7-year convertible senior notes offering, structured with an effective conversi

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Exhibit 99.1

Recent Developments

Preliminary Estimated Results for the Three Months and Year Ended December 31, 2024

Our financial results as of and for the fiscal year ended December 31, 2024 are not yet complete and will not be available until after the completion of this offering. Accordingly, set forth below are our preliminary estimated ranges for cash and cash equivalents and restricted cash, and capitalized property and equipment costs, as of December 31, 2024, and Total operating expenses and Adjusted operating expenses for the three and twelve months ended December 31, 2024. The preliminary results as of and for the three and twelve months ended December 31, 2024 presented below should not be viewed as a substitute for consolidated financial statements prepared in accordance with GAAP. Our estimated financial results for the three and twelve months ended and as of December 31, 2024 are subject to revision based upon the completion of our year-end financial closing procedures and other developments that may arise prior to the time our financial results for the three and twelve months ended December 31, 2024 are finalized, and are therefore forward-looking statements based solely on information available to us as of the date of the offering memorandum, and the reported financial results may differ from these estimates. Neither the Company’s independent auditors, nor any other independent accountants, have audited, reviewed, compiled, examined, or performed any procedures with respect to the preliminary financial information, nor have they expressed any opinion or any other form of assurance on such information or its achievability, and assume no responsibility for, and disclaim any association with, the preliminary financial information. Our actual results may differ from these estimates due to the completion of our final closing procedures, final adjustments and other developments that may arise between now and the time our financial results as of and for the fiscal year ended December 31, 2024 are finalized. You should not place undue reliance on these preliminary estimates. For additional information, see “Forward-Looking Statements” and “Risk Factors” in the offering memorandum.

Adjusted operating expense is an alternative financial measure used by management to evaluate our operating performance as a supplement to our most directly comparable U.S. GAAP financial measure. We define Adjusted operating expenses as Total operating expenses adjusted to exclude amounts of stock-based compensation expense and depreciation and amortization expense. We believe Adjusted operating expense is a useful measure across time in evaluating the Company’s operating performance as we use Adjusted operating expenses to manage the business, including in preparing our annual operating budget and financial projections. Adjusted operating expenses is a non-GAAP financial measure that has no standardized meaning prescribed by U.S. GAAP, and therefore has limits in its usefulness to investors. Because of the non-standardized definition, it may not be comparable to the calculation of similar measures of other companies and is presented solely to provide investors with useful information to more fully understand how management assesses performance. This measure is not, and should not be viewed as, a substitute for its most directly comparable GAAP measure of Total operating expenses.

The following includes our unaudited preliminary estimated results for the three and twelve months ended and as of December 31, 2024:

●Cash and cash equivalents and restricted cash was approximately $567.5 million as of December 31, 2024 compared to $88.1 million as of December 31, 2023.

●As of December 31, 2024, we have incurred approximately $97.3 million to $104.3 million net change in capitalized property and equipment costs as compared to $92.5 million net change in capitalized property and equipment costs incurred as of December 31, 2023.

●We expect our preliminary Total operating expenses to be between $58.3 million and $62.3 million for the three months ended December 31, 2024 as compared to $60.9 million of Total operating expenses for the three months ended December 31, 2023.

●We expect our preliminary Total operating expenses to be between $244.8 million and $248.8 million for the twelve months ended December 31, 2024 as compared to $222.4 million of Total operating expenses for the twelve months ended December 31, 2023.

●We expect our total preliminary Adjusted operating expenses to be between $38.9 million and $41.9 million for the three months ended December 31, 2024 as compared to $38.6 million of Adjusted operating expenses for the three months ended December 31, 2023.

●We expect our total preliminary Adjusted operating expenses to be between $150.0 million and $153.0 million for the twelve months ended December 31, 2024 as compared to $154.6 million of Adjusted operating expenses for the twelve

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EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Third Quarter 2024 Results

MIDLAND, Texas, November 14, 2024 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update for the third quarter ended September 30, 2024.

“We achieved many significant milestones in the quarter and continue our momentum with several key pieces now in place.” said Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. “With the first five BlueBird satellites successfully unfolded and entering initial operations, our business is progressing according to plan. We’ve advanced our strategy across multiple efforts including progress on securing orbital launch capacity, growing our manufacturing capability, and expanding our customer ecosystem.”

Business Update

• First five commercial BlueBird satellites achieved successful initial operations and filed Special Temporary Authority (STA) request with FCC to begin beta service with AT&T and Verizon

o All five satellites successfully unfolded as of late October, completing a key post-launch activity

o Preparing satellites for operational readiness through ongoing integration with partner networks

• Secured orbital launch capacity to enable continuous space-based cellular broadband service coverage in key markets, including U.S., Europe, Japan, the U.S. Government and other strategic markets globally

o New launch services agreements with Blue Origin and SpaceX for launches during 2025 and 2026

o The agreements enable the orbital launch of up to approximately 60 Block 2 BlueBird satellites

o Achieved initial validation of our AST5000 ASIC chip, with test software, test equipment, procedures, and main infrastructure in place to commission during 2025

o Combination of novel ASIC and larger Block 2 array will offer beams designed to support a capacity of up to 40MHz, enabling peak data transmission speeds up to 120Mbps, supporting voice, full data and video applications

• Expanded the AST SpaceMobile customer ecosystem, adding three new contract awards with the U.S. Government and continued to advance discussions with multiple commercial partners

o Selection by the Space Development Agency (SDA) to compete directly as a prime contractor under the Hybrid Application for proliferated low Earth orbit (HALO) program

o Added three new contract awards with U.S. Government to leverage and expand existing in-orbit technology capabilities, directly and through prime contractors

o Growing pipeline of government opportunities for non-commercial applications demonstrates significant advantages of AST SpaceMobile’s dual-use technologies

• Strong balance sheet with $518.9 million in cash, cash equivalents, and restricted cash, benefiting from warrant redemption and ATM program

o Received $153.3 million in net proceeds from the redemption of publicly traded warrants

o Repaid $48.5 million of Senior Secured Credit Facility in Q4, lowering go-forward interest expense

o Filed formal application with the Export-Import Bank of the United States (EXIM) for debt financing

o Continue to prioritize raising strategic capital through non-dilutive approaches, including commercial prepayments and commitments from our MNO partners

Third Quarter 2024 Financial Highlights

• As of September 30, 2024, we had cash, cash equivalents, and restricted cash of $518.9 million

• Total operating expenses for the third quarter of 2024 were $66.6 million, including $21.4 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $2.7 million as compared to $63.9 million in the second quarter of 2024, due to a $10.3 million increase in research and development costs and a $0.6 million increase in engineering services costs, partially offset by a $2.3 million decrease in general and administrative costs, and a $5.9 million decrease in depreciation and amortization expense

• Adjusted operating expenses(1) for the third quarter of 2024 were $45.3 million, an increase of $10.7 million as compared to $34.6 million in the second quarter of 2024, due to a $1.2 million increase in Adjusted general and administrative costs(1), and a $10.3 million increase in research and development costs, partially offset by a $0.8 million decrease in Adjusted engineering services costs(1)

• As of September 30, 2024, we have incurred approximately $374.0 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $113.9 million. The capitalized costs include costs of satellite materials for BlueBird satellites, advance launch payments, Block 1 and BlueWalker 3 satellites, assembly and integration facilities including assembly and test equipment, and groun

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EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Second Quarter 2024 Results

MIDLAND, TX, August 14, 2024 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update for the second quarter ended June 30, 2024.

“We stand at a pivotal moment for AST SpaceMobile,” said Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. “The arrival of our first five commercial satellites at the launch site marks the culmination of years of relentless innovation and perseverance, in partnership with industry leaders like AT&T, Google, Verizon, Vodafone, and Rakuten, among others. The upcoming orbital launch is a significant step toward fulfilling our mission to eliminate dead zones and empower communities worldwide with space-based cellular broadband connectivity.”

Business Update

• First 5 commercial satellites on target for dedicated orbital launch in first half of September, each the largest-ever communications arrays to be deployed commercially in low Earth orbit

o Final assembly and environmental testing completed successfully at AST SpaceMobile manufacturing facilities in Texas

o Satellites are now at Cape Canaveral preparing for launch vehicle integration ahead of a confirmed launch date

o Secured FCC approval with initial license for launch of first 5 commercial satellites

• Expanded the AST SpaceMobile commercial ecosystem, adding Verizon as strategic investor and customer, joining AT&T in the U.S.

o Strategic investment by Verizon brings $100 million financial commitment, including $65 million ​of​ commercial prepayments and $35 million of convertible notes

o Along with AT&T, which signed a definitive commercial agreement in May, enables nationwide ~100% geographical coverage target of the continental U.S. on premium 850 MHZ low-band spectrum

o Continue to advance discussions with additional strategic partners, following the blueprint of commercial prepayments alongside commercial agreements

• First 5 commercial satellites capable of U.S. nationwide non-continuous service with 5,600+ cells in premium low-band spectrum

o Expect initial nationwide, non-continuous service to be available with AT&T and Verizon beta test users following in-orbit service activation over the coming months

o Coverage and service to increase as satellite constellation is expanded with Block 2 satellites

• ASIC chip tape-out phase completed with TSMC, expected to support up to 10x improvement of processing bandwidth per satellite

o AST5000 ASIC is a novel, custom and low-power architecture developed over five years and approximately $45 million of development cost

• Initial Block 2 BlueBird planning and production of 17 satellites underway at AST SpaceMobile manufacturing facilities in Texas

o Approximately 95% vertically integrated for manufacturing of satellite components and subsystems, for which we own or license the IP and control the manufacturing process

• Expanded U.S. Government relationship with initial in-orbit testing and additional early-stage contract awards to one of our prime contractors

o Successful initial in-orbit and ground tests for non-communications applications, reflected in completed contractual milestones and revenue

o Additional U.S. Government contract awards in recent months, with outlook for additional and larger sized contract awards

Second Quarter 2024 Financial Highlights

• As of June 30, 2024, we had cash, cash equivalents, and restricted cash of $287.6 million. We have additional liquidity of $51.5 million in gross proceeds available to draw under the Senior Secured Credit Facility, subject to certain conditions and approvals

• Total operating expenses for the second quarter of 2024 were $63.9 million, including $29.3 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $7.9 million as compared to $56.0 million in the first quarter of 2024, due to a $5.6 million increase in general and administrative costs, a $1.7 million increase in engineering services costs, a $0.4 million increase in depreciation and amortization expense, and a $0.2 million increase in research and development costs

• Total Adjusted operating expenses for the second quarter of 2024 were $34.6 million, an increase of $3.5 million as compared to $31.1 million in the first quarter of 2024, due to a $2.0 million increase in Adjusted general and administrative costs, a $1.3 million increase in Adjusted engineering services costs and a $0.2 million increase in research and development costs(1)

• As of June 30, 2024, we have incurred approximately $347.5 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $99.3 million.

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EXHIBIT 99.1

AST SpaceMobile Provides Business Update and First Quarter 2024 Results

MIDLAND, TX, May 15, 2024 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update for the three months ended March 31, 2024.

“I am grateful for our global team's unwavering dedication and hard work as we prepare for the launch of our first five commercial satellites and initial commercial service," said Abel Avellan, Chairman and CEO of AST SpaceMobile. "We are set up for an exciting summer ahead as we push forward on all fronts of our business.”

Business Update

• On target for July or August delivery of 5 Block 1 satellites to Cape Canaveral

• Signed milestone, 6-year definitive commercial agreement with AT&T for SpaceMobile Service

• First 5 satellites allow U.S. nationwide non-continuous service with 5,600+ cells in premium low-band spectrum

• Activities and discussions with government regulatory bodies, including FCC, are advancing as expected

• Continue to advance discussions with additional strategic partners, following the blueprint of commercial payments alongside commercial agreements

First Quarter 2024 Financial Highlights

• As of March 31, 2024, we had cash, cash equivalents, and restricted cash of $212.4 million. We have additional liquidity of $51.5 million in gross proceeds available to draw under the Senior Secured Credit Facility, subject to certain conditions and approvals

• Total operating expenses for the first quarter of 2024 were $56.0 million, including $24.9 million of depreciation and amortization and stock-based compensation expense. This represents a decrease of $4.9 million as compared to $60.9 million in the fourth quarter of 2023, due to a $6.5 million decrease in research and development costs and a $0.5 million decrease in engineering services costs, offset by a $1.7 million increase in general and administrative costs and a $0.4 million increase in depreciation and amortization expense

• Total Adjusted operating expenses for the first quarter of 2024 were $31.1 million, a decrease of $7.5 million as compared to $38.6 million in the fourth quarter of 2023, due to a $6.5 million decrease in research and development costs, a $0.6 million decrease in Adjusted engineering services costs and a $0.4 million decrease in Adjusted general and administrative costs(1)

• As of March 31, 2024, we have incurred approximately $326.4 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $81.1 million. The capitalized costs include costs of satellite materials for BlueBird satellites, advance launch payments, BlueWalker 3 satellite, assembly and integration facilities including assembly and test equipment, and ground antennas

(1) See reconciliation of Adjusted operating expenses to Total operating expenses, Adjusted engineering services costs to Engineering services costs and Adjusted general and administrative costs to General and administrative costs in the tables accompanying this press release.

Non-GAAP Financial Measures

We refer to certain non-GAAP financial measures in this press release, including Adjusted operating expenses, Adjusted engineering services costs and Adjusted general and administrative costs. We believe these non-GAAP financial measures are useful measures across time in evaluating our operating performance as we use these measures to manage the business, including in preparing our annual operating budget and financial projections. These non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP, and therefore have limits in their usefulness to investors. Because of the non-standardized definitions, these measures may not be comparable to the calculation of similar measures of other companies and are presented solely to provide investors with useful information to more fully understand how management assesses performance. These measures are not, and should not be viewed as, a substitute for their most directly comparable GAAP measures. Reconciliation of non-GAAP financial measures and the most directly comparable GAAP financial measures are included in the tables accompanying this press release.

Conference Call Information

AST SpaceMobile will hold a quarterly business update conference call at 5:00 p.m. (Eastern Time) on Wednesday, May 15, 2024. The call will be accessible via a live webcast on the Events page of AST SpaceMobile’s Investor Relations website at https://ast-science.com/investors/. An archive of the webcast will be available shortly after the call.

About AST SpaceMobile

AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmo

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EXHIBIT 99.1

AST SpaceMobile Provides Business Update and Fourth Quarter and Full Year 2023 Results

MIDLAND, TX, April 1, 2024 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, is providing its business update for the three months and fiscal year ended December 31, 2023.

“It has been a busy and exciting start to 2024 for AST SpaceMobile, with new partners joining our mission, manufacturing ramping, and commercialization approaching,” said Abel Avellan, Chairman and CEO of AST SpaceMobile. “With a clear vision and a strong foundation, AST SpaceMobile is well-positioned to lead the charge in bridging the digital divide.”

Business Update

• Key Investments and Commercial Agreements With AT&T, Google, Vodafone and the United States Government

o Milestone strategic financing is a vote of confidence in AST’s tech and business model

o Fixed-firm-price contract award announced with the United States Government through a prime contractor, expected to produce initial revenue in Q1 2024

o Necessary funding on-hand to execute near-term strategic plan for the launch of five 700 sq. ft. Block 1 BlueBird satellites and first next generation 2,400 sq. ft. Block 2 BlueBird satellite, which will surpass Block 1 BlueBird satellites as the largest commercial phased array in low Earth orbit

o Continue to advance discussions with additional strategic partners, following the blueprint of strategic investments alongside commercial payments

• FCC Approves Framework for the Use of Terrestrial Spectrum for SpaceMobile (Direct-to-Device)

o Potential to unlock 200+ MHz of terrestrial low band spectrum for satellite direct-to-device use

o FCC voted 5-0 on March 14 to approve the Supplemental Coverage from Space NPRM draft rules published in February

o Should facilitate AST’s FCC application to provide commercial services in the US

o We anticipate many regulatory entities globally will follow the new US regulatory regime

o Simplifies overall application process by making standard rules which cover the majority of AST’s application

• Production, Assembly and Testing Capabilities Now Fully Operational at Texas Facilities

o Continue to ramp production capability of microns, the building blocks of our Block 1 and Block 2 satellites

o Production of five 700 sq. ft. Block 1 BlueBird satellites was impacted by two suppliers, leading to delays in integration and testing; In order to accelerate production of our next satellites and reduce dependency on these suppliers, we acquired a non-exclusive and worldwide license to manufacture one of the subsystems, and replaced the supplier of the other subsystem with a new supplier with whom we have completed a new design and now own the IP

o We will now be able to manufacture in-house or through third-parties using our own IP approximately 95% of all satellite subsystems for our next generation Block 2 BlueBird satellites

• Orbital Launch Updates Provide Near-Term Timeline

o Five 700 sq. ft. Block 1 BlueBird Satellites expected to be transported from our assembly facilities to the launch site between July and August of 2024

o Secured launch contract for first 2,400 sq. ft next generation Block 2 BlueBird satellite, with a contractual launch window from December 2024 to March 2025

• Custom ASIC Enters Tape-Out Phase With TSMC, Planned to Enable Up To 120 Mbps Peak Data Rates on 40 MHz Spectrum Channels and Processing Bandwidth of Up To 10,000 MHz Per Satellite

o Novel, custom and low-power architecture developed to enable up to a tenfold improvement in processing bandwidth on each next generation 2,400 sq. ft. Block 2 BlueBird satellite

o Represents a competitive advantage developed over four years, equivalent to an estimated 150 man-years, with approximately $45.0 million of development

• Progressing Non-Dilutive Quasi-Governmental Funding Sources With Non-Binding Letters of Interest from Three Institutions

o Framework for accessing significant long-term, lower-cost non-dilutive capital

Fourth Quarter and Full Year 2023 Financial Highlights

• As of December 31, 2023, we had cash, cash equivalents and restricted cash on hand of $88.1 million. We ended the first quarter of 2024 with cash and cash equivalents and restricted cash of approximately $210.8 million. We have additional liquidity of $51.5 million in gross proceeds available to draw under the Senior Secured Credit Facility, subject to certain conditions and approvals

• Total operating expenses for the fourth quarter of 2023 were $60.9 million, including $22.3 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $1.9 million as compared to $59.0 million in the third quarter of 2023, due to a $0.6 million increase i

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Exhibit 99.1

AST SpaceMobile Secures Strategic Investment From AT&T, Google and Vodafone

Investment and strategic agreements accelerate AST SpaceMobile’s mission to close the global connectivity gap by bringing 5G broadband service from space to billions of people worldwide

$206.5 million financing, comprised of convertible notes, non-dilutive commercial payments, and a planned future draw on the company’s existing credit facility

MIDLAND,

TX, January 18, 2024 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, today announced strategic investment from AT&T, Google and Vodafone and aggregate new financing of up to $206.5 million in gross proceeds. In addition to the $155 million strategic investment, the company also plans to draw up to $51.5 million from the company’s existing senior-secured credit facility.

New investors AT&T and Google, joined by existing investor Vodafone, are at the forefront of wireless innovation, with products and services serving billions of people daily. This significant investment in AST SpaceMobile underscores confidence in the company’s technology and leadership position in the emerging space-based cellular direct-to-device market, with the potential to offer connectivity to today’s 5.5 billion cellular devices when they are out of coverage.

AST SpaceMobile currently operates the largest-ever commercial communications array in low Earth orbit, the BlueWalker 3 satellite. The company invented the space-based direct-to-device market, and its patented design facilitates broadband connectivity directly to standard, unmodified cellular devices, adhering to today’s cellular standards. In 2023, the company solidified its status as the industry’s leading innovator, working alongside partners AT&T, Vodafone, Rakuten and Nokia, to achieve multiple historic technical breakthroughs in space-based cellular communications – including the demonstration of 2G, 4G LTE and 5G calls, and 14 Mbps download speeds per 5 MHz channels – directly from space to everyday smartphones. For the company’s planned operational satellites, beams are designed to support capacity of up to 40 MHz, potentially enabling data transmission speeds of up to 120 Mbps. With over 40 agreements and understandings with mobile network operators globally, who collectively service over 2 billion subscribers, AST SpaceMobile’s pioneering in-orbit technology is poised to be the solution for eliminating cellular connectivity gaps around the world.

Abel Avellan, Chairman and CEO of AST SpaceMobile, said, “Our vision at AST SpaceMobile has always been to chart a course of collaborative innovation and integration with the world’s leading wireless companies, which is why we are so thrilled to be welcoming this new strategic investment from AT&T, Google and Vodafone. With this strategic investment, we are gaining capital, invaluable expertise, and strategic partnership. This investment comes alongside prior investments by other leaders in the wireless ecosystem, including Rakuten, American Tower, and Bell Canada, all of whom are not only part owners of AST SpaceMobile but also serve as our technology partners and customers. Each new partnership signifies that market leaders worldwide have tremendous confidence in our vision and ability to ensure that the future of cellular broadband is borderless.”

Chris Sambar, Executive Vice President, Head of Network, AT&T, said “Through our work with AST SpaceMobile, we’ve already proven the possibilities that satellite has to offer in helping connect more people via text, voice and video. We’re excited to deepen our relationship with this investment as we continue to drive a first-of-its-kind innovation forward and work together to achieve this shared vision of space-based connectivity for consumers, businesses and first responders all around the globe.”

Margherita Della Valle, Vodafone Group chief executive, said “Vodafone’s investment and collaboration with AST SpaceMobile will help make our mobile connectivity services available everywhere for our customers across Europe and Africa. Customers in remote rural areas, on land or out at sea, will be able to benefit from fast and reliable 5G broadband directly to their existing smartphones without the need for specialist equipment.”

The strategic investment is intended to support the commercial roll-out of AST SpaceMobile’s network and is comprised of a mix of equity-linked capital and non-dilutive commercial payments. The investment includes:

●$110 million of 10-year subordinated convertible notes with 5.50% interest (which may be paid in kind), with a conversion price of $5.75 per share, a 39% premium to the final trading price on January 16, 2024; invested by AT&T, Google and Vodafone

●$20 million revenue commitment from AT&T, predicated on the launch and successful initial operation

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PRESS RELEASE

EXHIBIT 99.1

AST SpaceMobile Provides Third Quarter 2023 Business Update

MIDLAND, TX, November 14, 2023 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, is providing its business update for the third quarter ended September 30, 2023.

“The manufacturing of our first five commercial satellites is at full speed at our Texas facilities, and we are looking forward to our expected launch in Q1 2024 as we target initial commercial service for both mobile network operators and governmental entities starting in 2024”, said Abel Avellan, Chairman and Chief Executive Officer of AST SpaceMobile. “In the third quarter, AST SpaceMobile announced another historic achievement and the capstone of our BlueWalker 3 testing program – the first-ever space-based 5G cellular broadband connection directly to an everyday smartphone. I am grateful for the dedication of our team and support of our network partners who have helped us reach multiple groundbreaking milestones this year.”

Business Update

• BlueWalker 3 Makes History Again

o Demonstrated space-based 5G cellular broadband capabilities

o Increased performance to 14 Mbps data rates per 5MHz channels

• First Five Commercial Satellites Expected to be Launched in Q1 2024

o Manufacturing at full speed in Midland, Texas facilities

o Approximately 85% of planned capital expenditures paid as of September 30, 2023

• Total and Adjusted Operating Expenses Expected to Decrease by $10 Million to $15 Million Per Quarter Beginning Q1 2024

o Expected reduction driven by completion of Block 1 design and development, substantial completion of the ASIC design, and partial completion of Block 2 design, with no material change in headcount

• IP Portfolio Has Grown to More than 3,100 Patent and Patent Pending Claims Worldwide

• Strategic Investment Process

o We are moving forward on definitive documentation and completion of diligence with multiple strategic partners

o Seeking to close and fund with multiple strategic partners in November or December 2023

o There can be no assurance that we will enter into any such transactions on acceptable terms, on this timing, or at all

Third Quarter 2023 Financial Highlights

• As of September 30, 2023, we had cash, cash equivalents, and restricted cash of $135.7 million

• Total operating expenses for the third quarter of 2023 were $59.0 million, including $21.6 million of depreciation and amortization and stock-based compensation expense. This represents an increase of $0.9 million as compared to $58.1 million in the second quarter of 2023, due to a $4.9 million increase in depreciation and amortization expense and a $0.8 million increase in general and administrative costs offset by a $1.5 million decrease in research and development costs and a $3.3 million decrease in engineering services costs

• Total Adjusted operating expenses for the third quarter of 2023 were $37.3 million, a decrease of $1.1 million as compared to $38.4 million in the second quarter of 2023, due to a $1.5 million decrease in research and development costs and a $0.3 million decrease in Adjusted engineering services costs offset by a $0.7 million increase in Adjusted general and administrative costs(1)

• As of September 30, 2023, we have incurred approximately $265.8 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $41.6 million. The capitalized costs include costs of our BlueWalker 3 satellite, assembly and integration facilities including assembly and test equipment, satellite materials, advance launch payments and ground antennas

(1) See reconciliation of Adjusted operating expenses to Total operating expenses, Adjusted engineering services costs to Engineering services costs and Adjusted general and administrative costs to General and administrative costs in the tables accompanying this press release.

Non-GAAP Financial Measures

We refer to certain non-GAAP financial measures in this press release, including Adjusted operating expenses, Adjusted engineering services costs and Adjusted general and administrative costs. We believe these non-GAAP financial measures are useful measures across time in evaluating our operating performance as we use these measures to manage the business, including in preparing our annual operating budget and financial projections. These non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP, and therefore have limits in their usefulness to investors. Because of the non-standardized definitions, these measures may not be comparable to the calculation of similar measures of other companies and are presented solely to provide investors with useful information to more fully understand how management assesses performance. These measures are not, and shoul

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Exhibit 99.1

AST SpaceMobile to Provide Quarterly Business Update on November 14, 2023 and Provides

Preliminary Financial Results for Third Quarter 2023

MIDLAND,

TX, October 25, 2023 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, today announced it will hold a quarterly business update conference call on Tuesday, November 14th at 5:00 p.m. (Eastern Time). The company is also providing its preliminary estimated financial results for the third quarter ended September 30, 2023.

AST SpaceMobile will be accepting questions from retail and institutional shareholders and management will answer select questions relating to AST SpaceMobile’s business and financial results on the conference call. Investors are encouraged to submit questions to investors@ast-science.com and will also be added to our Investor Relations mailing list.

The call will be accessible via a live webcast on the Events page of AST SpaceMobile’s Investor Relations website at https://ast-science.com/investors/. An archive of the webcast will be available shortly after the call.

Third Quarter 2023 Preliminary Estimated Financial Results

● We ended the third quarter with cash and cash equivalents and restricted cash of approximately $135.7 million

● We expect our total preliminary Adjusted operating expenses to be between $36.2 and $38.2 million for the third quarter of 2023(1)

●

As of September 30, 2023, we have incurred approximately $224.2 million of capitalized property and equipment costs. This includes costs incurred for purchase of satellite direct materials and launch payments for commercial bluebird satellites, costs incurred for assembly, test, launch and deployment of BlueWalker 3 (“BW3”) satellite, and costs incurred for development of assembly, integration, and test facilities including purchases of assembly equipment and antennas

(1) Adjusted operating expense is a non-GAAP measure. See reconciliation of Adjusted operating expense to Total operating expense in the table accompanying this press release

Our unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2023 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 and nine months ended September 30, 2023. 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 September 30, 2023. 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.

Non-GAAP

Financial Measure

We refer to preliminary Adjusted operating expense, a non-GAAP financial measure in this press release. We believe this non-GAAP financial measure is a useful measure across time in evaluating our operating performance as we use this measure to manage the business, including in preparing our annual operating budget and financial projections. This non-GAAP financial measure that has no standardized meaning prescribed by U.S. GAAP, and therefore have limits in its usefulness to investors. Because of the non-standardized definition, this measure may not be comparable to the calculation of similar measure of other companies and is presented solely to provide investors with useful information to more fully understand how management assesses performance. This measure is not, and should not be viewed as, a substitute for its most directly comparable GAAP measures. Reconciliation of non-GAAP financial measure and the most directly comparable GAAP financial measure is included in the table accompanying this press release.

Interim Business Update

●BlueWalker 3 demonstration of the first and only space-based 5G capabilities and 14 Mbps data rates on a 5MHz spectrum allocation caps a highly successful testing program that included 2G, 4G and 5G with participation from partners AT&T, Vodafone, Rakuten and Nokia, validating AST SpaceMobile’s satellite design, patented technology, and manufacturing strategy

●First five commercial BlueBird satellites expected to be launched in Q1 2024, with approximately 85% of planned capital expenditures (including launch costs) incurred as of September 30, 2023

●We expect to enter into commercial agreements with governmental entities and mobile network

operators for the use of our first five commercial satellites; if successful entering into

these agreements, we expect to generate revenue in 2024

●As we complete certain non-recurring R&D ini

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PRESS RELEASE

EXHIBIT 99.1

AST SpaceMobile Provides Second Quarter 2023 Business Update

Confirmed historic space-based 4G LTE cellular broadband capabilities alongside AT&T, Vodafone and Nokia; and completed comprehensive interim financing package

MIDLAND, TX, August 14, 2023 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, is providing its business update for the second quarter ended June 30, 2023.

“AST SpaceMobile continues to make history. This quarter we achieved space-based 4G LTE cellular broadband capabilities to everyday smartphones, reaching speeds above 10 Mbps during BlueWalker 3 testing alongside AT&T, Vodafone and Nokia”, said Abel Avellan, Chairman and Chief Executive Officer of AST SpaceMobile. “We are now laser-focused on the manufacturing of our BlueBird satellites. The first five satellites are fully-funded with a planned launch in Q1 2024 as we target to offer initial commercial service in 2024.”

“On the back of the progress of our company technically, commercially and industrially, we have received multiple indications of interest for strategic investments with both equity-linked and non-dilutive commercial payments,” said Scott Wisniewski, Chief Strategy Officer of AST SpaceMobile. “Proceeds from this prospective capital raise are intended to fund the manufacturing and launch of additional BlueBird satellites launches beyond our first five commercial satellites.”

“We are happy to announce the completion of a comprehensive financing package providing us up to $179 million of cash and liquidity”, said Sean Wallace, Chief Financial Officer of AST SpaceMobile. “This financing package is comprised of an up to $100 million Senior Secured Credit Facility and a $15 million Equipment-Backed Loan completed today, in addition to a $57 million previously announced common stock offering in June 2023 and $7 million raised under the ATM program during the second quarter of 2023.”

Business Update

• History made, again, with space-based 4G LTE cellular broadband capabilities confirmed to everyday smartphones, reaching speeds above 10 Mbps during BlueWalker 3 testing alongside AT&T, Vodafone and Nokia

• Continued commercial and regulatory progress, with 40+ MOUs and agreements with mobile network operators globally that have ~2.4 billion subscribers

• Block 1 BlueBird program is fully-funded, with manufacturing underway and ramping ahead of the planned launch in Q1 2024 of our first five commercial satellites

• Raised cash and liquidity of up to $179 million, with a comprehensive financing package of non-dilutive debt and equity designed to support strategic investment process

o Up to $100 million Senior Secured Credit Facility with an initial gross draw of $48.5 million

o $15 million Equipment-Backed Loan

o $57 million of previously announced common stock offering in June 2023

o $7 million raised under the ATM program during the second quarter of 2023

• Received multiple indications of interest for strategic investment, including both equity-linked investments and non-dilutive commercial payments

Second Quarter 2023 Financial Highlights

• As of June 30, 2023, we had cash, cash equivalents, and restricted cash of $191.5 million. After June 30, 2023, added incremental cash and liquidity of up to $115 million from an up to $100 million Senior Secured Credit Facility with an initial gross draw of $48.5 million and a $15 million Equipment-Backed Loan.

• Total Adjusted operating expenses for the second quarter of 2023 were $38.4 million, a decrease of $1.9 million as compared to $40.3 million in the first quarter of 2023, due to a $5.5 million decrease in research and development costs offset by a $3.3 million increase in Adjusted engineering services costs and a $0.3 million increase in Adjusted general and administrative costs.(1)

• As of June 30, 2023, we have incurred approximately $194.1 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $22.5 million. The capitalized costs include costs of our BlueWalker 3 satellite, assembly and integration facilities including assembly and test equipment, satellite materials, advance launch payments and ground antennas.

(1) See reconciliation of Adjusted operating expenses to Total operating expenses, Adjusted engineering services costs to Engineering services costs and Adjusted general and administrative costs to General and administrative costs in the tables accompanying this press release.

Non-GAAP Financial Measures

We refer to certain non-GAAP financial measures in this press release, including Adjusted operating expenses, Adjusted engineering services costs and Adjusted general and administrative costs. We believe these non-GAAP financial measures are useful measures across time in evaluating our operating