AST SpaceMobile Inc - Ordinary Shares - Class A

2026 revenue outlook reiterated; expects sequential growth despite quarter variability - Management reaffirmed full-year 2026 revenue guidance of ~$150M–$200M. - Q1 2026 revenue: ~$14.7M, primarily from commercial gateway deliveries and U.S. government service/milestone achievements. - CFO/CEO commentary: revenue is expected to build sequentially each quarter in 2026, but individual quarters can vary materially due to (i) gateway deployment timing, (ii) government milestone timing, and (iii) contract signing/equipment delivery schedules.

Commercial + government traction is building the revenue base; new contracts and awards - Commercial: signed additional MNO agreements including TELUS (Canada; also equity investment by TELUS) and Axiom Telecom (pan-Africa operator across 11 countries), building on existing agreements with Vodacom, Orange, MTN. - U.S. government: received additional U.S. government awards (3 through prime contractors) covering multiple secure/non-secure use cases; management expects these to contribute significantly to 2026 revenue. - Government revenue execution: performed across 5 existing contracts in Q1 (including Space Development Agency work tied to Europa Track 2 / Halo, and follow-on tactical SATCOM-related efforts demonstrated with unmodified smartphones).

Satellite manufacturing scale-up: targeting cadence and “Block II” performance improvements - Manufacturing: company stated >0.5M sq ft of global manufacturing/ops space, with advanced assembly through Bluebird 33 and phased arrays completed through Bluebird 28. - Operational target: ramping to ~6 fully assembled satellites per month (goal supported by vertical integration and composite structure production). - Block II / performance: custom ASIC designed for up to 10 GHz bandwidth; expectation is Block II will nearly double peak data speed vs recent Block 1 performance when enabled region-by-region with additional spectrum. - Surprising/positive datapoint: company reported an on-orbit ~98.9 Mbps record over international waters directly to off-the-shelf unmodified smartphones.