Form 10-Q - Quarterly report [Sections 13 or 15(d)]
15 August 2024 - 6:35AM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2024
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File No. 001-39040
|
AST SPACEMOBILE, INC. |
(Exact name of registrant as specified in its charter) |
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|
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Delaware |
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84-2027232 |
(State or other jurisdiction of incorporation or organization) |
|
(I.R.S. Employer Identification No.) |
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|
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Midland Intl. Air & Space Port |
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|
2901 Enterprise Lane Midland, Texas |
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79706 |
(Address of principal executive offices) |
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(Zip Code) |
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(432) 276-3966 |
(Registrant’s telephone number, including area code) |
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|
(Former name, former address and former fiscal year, if changed since last report) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Class A common stock, par value $0.0001 per share |
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ASTS |
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The Nasdaq Stock Market LLC |
Warrants exercisable for one share of Class A common stock at an exercise price of $11.50 |
|
ASTSW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
|
|
☐ Large accelerated filer |
☐ Accelerated filer |
☒ Non-accelerated filer |
☒ Smaller reporting company |
|
☒ Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes ☐ No ☒
As of August 12, 2024 there were 151,483,906 shares of Class A common stock, $0.0001 per value, 39,747,447 shares of Class B common stock, $0.0001 par value, and 78,163,078 shares of Class C common stock, $0.0001 par value, issued and outstanding.
AST SPACEMOBILE, INC.
FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2024
TABLE OF CONTENTS
PART I - FINANCIAL INFORMATION
Item 1. Interim Financial Statements.
AST SPACEMOBILE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Dollars in thousands, except share data)
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As of |
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June 30, 2024 |
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December 31, 2023 |
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ASSETS |
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|
|
|
|
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Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
285,085 |
|
|
$ |
85,622 |
|
Restricted cash |
|
|
2,482 |
|
|
|
2,475 |
|
Prepaid expenses |
|
|
7,359 |
|
|
|
4,591 |
|
Other current assets |
|
|
20,233 |
|
|
|
14,194 |
|
Total current assets |
|
|
315,159 |
|
|
|
106,882 |
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|
|
|
|
|
|
|
Non-current assets: |
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|
|
|
|
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Property and equipment, net |
|
|
248,162 |
|
|
|
238,478 |
|
Operating lease right-of-use assets, net |
|
|
12,344 |
|
|
|
13,221 |
|
Other non-current assets |
|
|
3,972 |
|
|
|
2,311 |
|
TOTAL ASSETS |
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$ |
579,637 |
|
|
$ |
360,892 |
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|
|
|
|
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|
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LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
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Current liabilities: |
|
|
|
|
|
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Accounts payable |
|
$ |
12,175 |
|
|
$ |
20,575 |
|
Accrued expenses and other current liabilities |
|
|
13,653 |
|
|
|
23,926 |
|
Contract liabilities |
|
|
21,780 |
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|
|
- |
|
Current operating lease liabilities |
|
|
1,517 |
|
|
|
1,468 |
|
Current portion of long-term debt |
|
|
258 |
|
|
|
252 |
|
Total current liabilities |
|
|
49,383 |
|
|
|
46,221 |
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|
|
|
|
|
|
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Non-current liabilities: |
|
|
|
|
|
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Warrant liabilities |
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|
77,886 |
|
|
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29,960 |
|
Non-current operating lease liabilities |
|
|
10,952 |
|
|
|
11,900 |
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Long-term debt, net |
|
|
199,546 |
|
|
|
59,252 |
|
Total liabilities |
|
|
337,767 |
|
|
|
147,333 |
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|
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Commitments and contingencies (Note 7) |
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Stockholders' Equity: |
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Class A Common Stock, $.0001 par value; 800,000,000 shares authorized; 148,751,110 and 90,161,309 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. |
|
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15 |
|
|
|
9 |
|
Class B Common Stock, $.0001 par value; 200,000,000 shares authorized; 39,747,447 and 50,041,757 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. |
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4 |
|
|
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5 |
|
Class C Common Stock, $.0001 par value; 125,000,000 shares authorized; 78,163,078 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. |
|
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8 |
|
|
|
8 |
|
Additional paid-in capital |
|
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427,096 |
|
|
|
288,404 |
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Accumulated other comprehensive income |
|
|
52 |
|
|
|
227 |
|
Accumulated deficit |
|
|
(281,942 |
) |
|
|
(189,662 |
) |
Noncontrolling interest |
|
|
96,637 |
|
|
|
114,568 |
|
Total stockholders' equity |
|
|
241,870 |
|
|
|
213,559 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
|
$ |
579,637 |
|
|
$ |
360,892 |
|
See accompanying notes to the unaudited condensed consolidated financial statements
AST SPACEMOBILE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(Dollars in thousands, except share and per share data)
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For the Three Months Ended June 30, |
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|
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For the Six Months Ended June 30, |
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|
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2024 |
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2023 |
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2024 |
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2023 |
|
|
|
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|
|
|
|
|
|
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Revenues |
|
$ |
900 |
|
|
$ |
- |
|
|
|
$ |
1,400 |
|
|
$ |
- |
|
|
|
|
|
|
|
|
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Operating expenses: |
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|
|
|
|
|
|
|
|
|
|
|
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Engineering services costs |
|
|
21,202 |
|
|
|
22,813 |
|
|
|
|
40,719 |
|
|
|
39,296 |
|
General and administrative costs |
|
|
17,839 |
|
|
|
10,221 |
|
|
|
|
30,126 |
|
|
|
20,078 |
|
Research and development costs |
|
|
4,460 |
|
|
|
10,921 |
|
|
|
|
8,711 |
|
|
|
27,302 |
|
Depreciation and amortization |
|
|
20,392 |
|
|
|
14,115 |
|
|
|
|
40,336 |
|
|
|
15,848 |
|
Total operating expenses |
|
|
63,893 |
|
|
|
58,070 |
|
|
|
|
119,892 |
|
|
|
102,524 |
|
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Other income (expense): |
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|
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|
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|
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|
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(Loss) gain on remeasurement of warrant liabilities |
|
|
(66,140 |
) |
|
|
6,475 |
|
|
|
|
(47,926 |
) |
|
|
13,973 |
|
Interest (expense) income, net |
|
|
(2,238 |
) |
|
|
1,724 |
|
|
|
|
(4,460 |
) |
|
|
3,816 |
|
Other income (expense), net |
|
|
252 |
|
|
|
(507 |
) |
|
|
|
250 |
|
|
|
(10,743 |
) |
Total other income (expense), net |
|
|
(68,126 |
) |
|
|
7,692 |
|
|
|
|
(52,136 |
) |
|
|
7,046 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income tax (expense) benefit |
|
|
(131,119 |
) |
|
|
(50,378 |
) |
|
|
|
(170,628 |
) |
|
|
(95,478 |
) |
Income tax (expense) benefit |
|
|
(231 |
) |
|
|
789 |
|
|
|
|
(526 |
) |
|
|
673 |
|
Net loss before allocation to noncontrolling interest |
|
|
(131,350 |
) |
|
|
(49,589 |
) |
|
|
|
(171,154 |
) |
|
|
(94,805 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to noncontrolling interest |
|
|
(58,800 |
) |
|
|
(31,181 |
) |
|
|
|
(78,874 |
) |
|
|
(60,079 |
) |
Net loss attributable to common stockholders |
|
$ |
(72,550 |
) |
|
$ |
(18,408 |
) |
|
|
$ |
(92,280 |
) |
|
$ |
(34,726 |
) |
Net loss per share attributable to holders of Class A Common Stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
$ |
(0.51 |
) |
|
$ |
(0.24 |
) |
|
|
$ |
(0.70 |
) |
|
$ |
(0.47 |
) |
Weighted-average shares of Class A Common Stock outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
|
141,185,500 |
|
|
|
75,640,650 |
|
|
|
|
131,316,319 |
|
|
|
73,753,412 |
|
See accompanying notes to the unaudited condensed consolidated financial statements
AST SPACEMOBILE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended June 30, |
|
|
For the Six Months Ended June 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss before allocation to noncontrolling interest |
|
$ |
(131,350 |
) |
|
$ |
(49,589 |
) |
|
$ |
(171,154 |
) |
|
$ |
(94,805 |
) |
Other comprehensive loss |
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
|
(123 |
) |
|
|
(40 |
) |
|
|
(339 |
) |
|
|
(168 |
) |
Total other comprehensive loss |
|
|
(123 |
) |
|
|
(40 |
) |
|
|
(339 |
) |
|
|
(168 |
) |
Total comprehensive loss before allocation to noncontrolling interest |
|
|
(131,473 |
) |
|
|
(49,629 |
) |
|
|
(171,493 |
) |
|
|
(94,973 |
) |
Comprehensive loss attributable to noncontrolling interest |
|
|
(58,854 |
) |
|
|
(31,196 |
) |
|
|
(79,038 |
) |
|
|
(60,176 |
) |
Comprehensive loss attributable to common stockholders |
|
$ |
(72,619 |
) |
|
$ |
(18,433 |
) |
|
$ |
(92,455 |
) |
|
$ |
(34,797 |
) |
See accompanying notes to the unaudited condensed consolidated financial statements
AST SPACEMOBILE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)
(Dollars in thousands, except share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2024 |
|
|
|
Class A
Common Stock |
|
|
Class B
Common Stock |
|
|
Class C
Common Stock |
|
|
Additional |
|
|
Accumulated
Other |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Paid-in
Capital |
|
|
Comprehensive
Income |
|
|
Accumulated Deficit |
|
|
Noncontrolling Interest |
|
|
Total Equity |
|
Balance, March 31, 2024 |
|
|
138,153,310 |
|
|
$ |
14 |
|
|
|
39,747,447 |
|
|
$ |
4 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
373,773 |
|
|
$ |
121 |
|
|
$ |
(209,392 |
) |
|
$ |
121,317 |
|
|
$ |
285,845 |
|
Stock-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,938 |
|
|
|
- |
|
|
|
- |
|
|
|
4,936 |
|
|
|
8,874 |
|
Issuance of common stock, net of issuance costs |
|
|
9,725,157 |
|
|
|
1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
49,397 |
|
|
|
- |
|
|
|
- |
|
|
|
30,047 |
|
|
|
79,445 |
|
Issuance of equity under employee stock plan |
|
|
6,044 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
95 |
|
|
|
- |
|
|
|
- |
|
|
|
10 |
|
|
|
105 |
|
Vesting of restricted stock units |
|
|
533,244 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(572 |
) |
|
|
- |
|
|
|
- |
|
|
|
(354 |
) |
|
|
(926 |
) |
Redemption of AST LLC Common Units for Class A Common Stock |
|
|
333,355 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
465 |
|
|
|
- |
|
|
|
- |
|
|
|
(465 |
) |
|
|
- |
|
Foreign currency translation adjustments |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(69 |
) |
|
|
- |
|
|
|
(54 |
) |
|
|
(123 |
) |
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(72,550 |
) |
|
|
(58,800 |
) |
|
|
(131,350 |
) |
Balance, June 30, 2024 |
|
|
148,751,110 |
|
|
$ |
15 |
|
|
|
39,747,447 |
|
|
$ |
4 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
427,096 |
|
|
$ |
52 |
|
|
$ |
(281,942 |
) |
|
$ |
96,637 |
|
|
$ |
241,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2024 |
|
|
|
Class A
Common Stock |
|
|
Class B
Common Stock |
|
|
Class C
Common Stock |
|
|
Additional |
|
|
Accumulated
Other |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Paid-in
Capital |
|
|
Comprehensive
Income |
|
|
Accumulated Deficit |
|
|
Noncontrolling Interest |
|
|
Total Equity |
|
Balance, December 31, 2023 |
|
|
90,161,309 |
|
|
$ |
9 |
|
|
|
50,041,757 |
|
|
$ |
5 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
288,404 |
|
|
$ |
227 |
|
|
$ |
(189,662 |
) |
|
$ |
114,568 |
|
|
$ |
213,559 |
|
Stock-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
8,713 |
|
|
|
- |
|
|
|
- |
|
|
|
5,094 |
|
|
|
13,807 |
|
Issuance of common stock, net of issuance costs |
|
|
46,821,930 |
|
|
|
5 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
118,948 |
|
|
|
- |
|
|
|
- |
|
|
|
68,179 |
|
|
|
187,132 |
|
Issuance of equity under employee stock plan |
|
|
6,044 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
95 |
|
|
|
- |
|
|
|
- |
|
|
|
10 |
|
|
|
105 |
|
Vesting of restricted stock units |
|
|
821,503 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(693 |
) |
|
|
- |
|
|
|
- |
|
|
|
(547 |
) |
|
|
(1,240 |
) |
Redemption of AST LLC Common Units for Class A Common Stock |
|
|
10,940,324 |
|
|
|
1 |
|
|
|
(10,294,310 |
) |
|
|
(1 |
) |
|
|
- |
|
|
|
- |
|
|
|
11,629 |
|
|
|
- |
|
|
|
- |
|
|
|
(11,629 |
) |
|
|
- |
|
Foreign currency translation adjustments |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(175 |
) |
|
|
- |
|
|
|
(164 |
) |
|
|
(339 |
) |
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(92,280 |
) |
|
|
(78,874 |
) |
|
|
(171,154 |
) |
Balance, June 30, 2024 |
|
|
148,751,110 |
|
|
$ |
15 |
|
|
|
39,747,447 |
|
|
$ |
4 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
427,096 |
|
|
$ |
52 |
|
|
$ |
(281,942 |
) |
|
$ |
96,637 |
|
|
$ |
241,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2023 |
|
|
|
Class A
Common Stock |
|
|
Class B
Common Stock |
|
|
Class C
Common Stock |
|
|
Additional |
|
|
Accumulated
Other |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Paid-in
Capital |
|
|
Comprehensive
Income |
|
|
Accumulated Deficit |
|
|
Noncontrolling Interest |
|
|
Total Equity |
|
Balance, March 31, 2023 |
|
|
71,877,559 |
|
|
$ |
7 |
|
|
|
50,041,757 |
|
|
$ |
5 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
236,886 |
|
|
$ |
183 |
|
|
$ |
(118,419 |
) |
|
$ |
198,259 |
|
|
$ |
316,929 |
|
Stock-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
5,366 |
|
|
|
- |
|
|
|
- |
|
|
|
166 |
|
|
|
5,532 |
|
Issuance of common stock, net of issuance costs |
|
|
13,929,297 |
|
|
|
1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
36,725 |
|
|
|
- |
|
|
|
- |
|
|
|
26,841 |
|
|
|
63,567 |
|
Issuance of equity under employee stock plan |
|
|
3,230,351 |
|
|
|
1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
4,217 |
|
|
|
- |
|
|
|
- |
|
|
|
(4,134 |
) |
|
|
84 |
|
Vesting of restricted stock units |
|
|
367,212 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(325 |
) |
|
|
- |
|
|
|
- |
|
|
|
(281 |
) |
|
|
(606 |
) |
Foreign currency translation adjustments |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(25 |
) |
|
|
- |
|
|
|
(15 |
) |
|
|
(40 |
) |
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(18,408 |
) |
|
|
(31,181 |
) |
|
|
(49,589 |
) |
Balance, June 30, 2023 |
|
|
89,404,419 |
|
|
$ |
9 |
|
|
|
50,041,757 |
|
|
$ |
5 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
282,869 |
|
|
$ |
158 |
|
|
$ |
(136,827 |
) |
|
$ |
189,655 |
|
|
$ |
335,877 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2023 |
|
|
|
Class A
Common Stock |
|
|
Class B
Common Stock |
|
|
Class C
Common Stock |
|
|
Additional |
|
|
Accumulated
Other |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Shares |
|
|
Values |
|
|
Paid-in
Capital |
|
|
Comprehensive
Income |
|
|
Accumulated Deficit |
|
|
Noncontrolling Interest |
|
|
Total Equity |
|
Balance, December 31, 2022 |
|
|
71,819,926 |
|
|
$ |
7 |
|
|
|
50,041,757 |
|
|
$ |
5 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
235,384 |
|
|
$ |
229 |
|
|
$ |
(102,101 |
) |
|
$ |
226,294 |
|
|
$ |
359,826 |
|
Stock-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
7,673 |
|
|
|
- |
|
|
|
- |
|
|
|
333 |
|
|
|
8,006 |
|
Issuance of common stock, net of issuance costs |
|
|
13,929,297 |
|
|
|
1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
36,725 |
|
|
|
- |
|
|
|
- |
|
|
|
26,841 |
|
|
|
63,567 |
|
Issuance of equity under employee stock plan |
|
|
3,230,351 |
|
|
|
1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,416 |
|
|
|
- |
|
|
|
- |
|
|
|
(3,237 |
) |
|
|
180 |
|
Vesting of restricted stock units |
|
|
424,845 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(329 |
) |
|
|
- |
|
|
|
- |
|
|
|
(400 |
) |
|
|
(729 |
) |
Foreign currency translation adjustments |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(71 |
) |
|
|
- |
|
|
|
(97 |
) |
|
|
(168 |
) |
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(34,726 |
) |
|
|
(60,079 |
) |
|
|
(94,805 |
) |
Balance, June 30, 2023 |
|
|
89,404,419 |
|
|
$ |
9 |
|
|
|
50,041,757 |
|
|
$ |
5 |
|
|
|
78,163,078 |
|
|
$ |
8 |
|
|
$ |
282,869 |
|
|
$ |
158 |
|
|
$ |
(136,827 |
) |
|
$ |
189,655 |
|
|
$ |
335,877 |
|
See accompanying notes to the unaudited condensed consolidated financial statements
AST SPACEMOBILE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, |
|
|
|
|
2024 |
|
|
2023 |
|
|
|
|
|
|
|
|
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
Net loss before allocation to noncontrolling interest |
|
|
$ |
(171,154 |
) |
|
$ |
(94,805 |
) |
Adjustments to reconcile net loss before noncontrolling interest to cash
used in operating activities: |
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
40,336 |
|
|
|
15,848 |
|
Amortization of debt issuance costs |
|
|
|
1,901 |
|
|
|
- |
|
Loss on disposal of property and equipment |
|
|
|
2,221 |
|
|
|
- |
|
Loss (gain) on remeasurement of warrant liabilities |
|
|
|
47,926 |
|
|
|
(13,973 |
) |
Stock-based compensation |
|
|
|
13,807 |
|
|