TLDR
- AST SpaceMobile reports Q2 2026 earnings after market close today
- Wall Street expects an adjusted loss of ~28-32 cents per share on revenue of ~$34.4-35M
- ASTS stock is down 2.86% today and off 2.42% year-to-date, though up 56.66% over the past 12 months
- BlueBird satellites 11, 12, and 13 were successfully launched in early August 2026
- Analyst consensus leans Moderate Buy with a mean price target range of $80-$89, implying 12-25% upside
AST SpaceMobile reports Q2 2026 earnings after the bell today, and expectations are modest. Wall Street is forecasting an adjusted loss of around 28 to 32 cents per share on revenue of roughly $34.4 to $35 million.
That would be a step up from Q1, when the company posted a 66-cent per share loss and revenue of just $14.73 million, badly missing the $37.48 million consensus. The company reaffirmed full-year 2026 revenue guidance of $150 million to $200 million.
ASTS stock is trading at $71.94, down 2.86% on the day. The stock has pulled back sharply from its 52-week high of $133.86 but remains well above its $36.08 low.
Based on its track record, a beat looks unlikely. AST SpaceMobile has only topped Wall Street’s adjusted EPS and revenue estimates once in the past eight quarters.
The stock’s post-earnings reaction is also hard to call. Over its four most recent reports, ASTS has rallied in two quarters and dropped in the other two.
Satellite Progress in Focus
The bigger story for investors may be what comes after the numbers. All eyes are on the commercial service timeline.
AST SpaceMobile successfully launched BlueBird satellites 11, 12, and 13 in early August 2026. The company has also advanced manufacturing through satellite 42, pointing to a faster-than-expected production ramp.
Analysts believe beta commercial service in North America could begin with as few as 20 operational satellites. Any concrete timeline from management on this front will be closely watched.
European integration testing has also expanded, with the company working with major mobile operators across eight countries.
Demand Questions Remain
Not everything is straightforward on the demand side. One analyst flagged that T-Mobile’s direct-to-device traffic accounted for just 0.0003% of total network usage during peak summer season, raising questions about how much appetite there really is for satellite connectivity in markets with strong existing coverage.
That context makes this earnings call particularly important. Investors want to see whether early adoption data supports the growth story.
What Analysts Are Saying
Analyst sentiment has tilted positive recently. B.Riley’s Mike Crawford upgraded ASTS from Neutral to Buy in July. Piper Sandler initiated coverage with an Overweight rating and a $100 price target.
Of 13 analysts covering the stock, four rate it a Buy, seven a Hold, and two a Sell.
The mean price target sits at $80.48, implying around 12% upside from current levels. A separate three-month consensus puts the average target at $88.87, suggesting up to 25% upside.
With a market cap of $27.92 billion and a forward P/E of negative 44, the valuation is entirely built on future revenue potential.
Pre-market trading volume was notably thin ahead of the report, with just 2.59 million shares changing hands versus a three-month daily average of 20.44 million.
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