Latest news with #AbelAvellan
Makkah Newspaper
3 days ago
- Business
- Makkah Newspaper
AST SpaceMobile and Revolutionizing Global Connectivity from Space
Imagine, dear reader, being able to completely bypass traditional telecom companies and enjoy seamless global communication services, whether you're deep in the desert or sailing across the ocean, with unmatched internet speeds and no network interruptions. Over the recent years, satellite communication technology has undergone significant advancements, increasing the need for reliable connectivity in remote areas without traditional network coverage. Amidst this rapid technological evolution, AST SpaceMobile has emerged as one of the leading global companies offering innovative satellite communication solutions, designed to provide direct, high-quality connectivity to mobile phones worldwide without requiring any additional ground-based infrastructure. Founded in 2017 by American entrepreneur Abel Avellan, AST SpaceMobile aims to revolutionize global communication through an advanced satellite network. The unique capability of this network is its direct connectivity with standard smartphones, eliminating the need for specialized modifications or extra antennas. This makes AST SpaceMobile's services highly accessible and cost-effective compared to traditional communication methods. In 2023, AST SpaceMobile successfully launched its first satellite, BlueWalker 3, achieving a significant milestone by conducting successful trial communications directly with smartphones on the ground. This groundbreaking achievement marks an important advancement in satellite communication technology. According to the company's data, BlueWalker 3 has extensive coverage capabilities, enabling reliable connectivity in regions lacking conventional network infrastructure. Currently, AST SpaceMobile has an ambitious plan to deploy dozens to hundreds of satellites into low Earth orbit (LEO), with full-scale operational capabilities expected soon. This strategic initiative underlines the company's vision to provide comprehensive and reliable communication services to approximately 5 billion people globally who currently face limited or no access to traditional network coverage. Financially, AST SpaceMobile has attracted significant attention from international investors. In 2021, the company completed a merger with New Providence Acquisition Corp., a deal valued at approximately $1.8 billion, which enabled it to enter the financial markets and secure funding for its ambitious growth plans. Additionally, in 2022, AST SpaceMobile successfully raised an additional $200 million through multiple investment rounds, including prominent investors like Vodafone and American Tower. This further strengthened the company's financial capabilities to expand its global network. Market analyses indicate that the satellite communication industry is expected to reach approximately $40 billion by 2030, with a compound annual growth rate (CAGR) of nearly 10%. AST SpaceMobile aims to capture a substantial portion of this market by leveraging its unique technology and ability to provide direct connectivity solutions without the need for expensive ground-based infrastructure. However, AST SpaceMobile faces specific challenges, notably obtaining regulatory approvals from key agencies such as the U.S. Federal Communications Commission (FCC) and other regulatory authorities in targeted countries. Fortunately, AST SpaceMobile has already secured FCC approval in the United States and has established cooperative agreements with international telecommunications companies, streamlining its global market entry. Additionally, technical challenges related to ensuring continuous and high-quality service, especially as user numbers grow, pose another hurdle. Nonetheless, AST SpaceMobile addresses these challenges with confidence through substantial investments in research and development, alongside partnerships with leading technology firms. In conclusion, AST SpaceMobile is poised to revolutionize the satellite communication industry. With an increasing global demand for reliable connectivity in remote areas, the company continues to achieve remarkable milestones, solidifying its position as a key player that deserves close attention in the yearsto come.
Yahoo
5 days ago
- Business
- Yahoo
AST SpaceMobile (ASTS) Soars 20.86% on Planned Satellites Launch
We recently published AST SpaceMobile, Inc. (NASDAQ:ASTS) is one of the best-performing stocks on Tuesday. AST SpaceMobile snapped a four-day losing streak on Tuesday, jumping 8.36 percent after trading as much as 20.86 percent intra-day, as investor sentiment was bolstered by its plans to launch 60 satellites next year. '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 US Government,' said AST SpaceMobile, Inc. (NASDAQ:ASTS) Chairman and CEO Abel Avellan in a statement. 'We also have planned orbital launches every one to two months on average during 2025 and 2026,' he added. Additionally, AST SpaceMobile, Inc. (NASDAQ:ASTS) is planning to deploy nationwide intermittent service in the US by the end of the year, followed by the UK, Japan, and Canada in the first quarter next year. This, alone, is expected to rake in revenues between $50 million and $75 million from government and commercial customers in the second half of the year. In the second quarter, AST SpaceMobile, Inc. (NASDAQ:ASTS) widened its net loss attributable to shareholders by 37 percent to $99.4 million from $72.5 million in the same period last year, despite revenues growing by 28 percent to $1.156 billion from $900 million year-on-year. Copyright: hywards / 123RF Stock Photo In the first half, attributable net loss grew by 57 percent to $145.1 million from $92.28 million in the same period last year, while revenues increased by 33.8 percent $1.874 billion from $1.4 billion year-on-year. While we acknowledge the potential of ASTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
Business Insider
6 days ago
- Business
- Business Insider
AST SpaceMobile Shares Skyrocket as Satellite Ambitions Edge toward Elon Musk's SpaceX Turf
AST SpaceMobile (ASTS) shares jumped after earnings as the company outlined a fully funded satellite deployment plan that, if successful, could put it in direct competition with Elon Musk 's SpaceX in the satellite broadband market. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. ASTS Stock Jumps on Fully Funded Satellite Plan AST SpaceMobile stock climbed almost 10% in early trading Tuesday to $50.37 after reporting quarterly results late Monday. The key takeaway for investors was management's announcement that it now has the funding in place to launch 45 to 60 satellites by 2026. That scale is critical for the company's vision to build the first global cellular broadband network in space. ASTS stock has already surged more than tenfold since early 2024, fueled by partnerships with major telecom operators and the successful launch of its first commercial satellites. Monday's update added more momentum to a rally that has been driven by investor confidence in the company's direct-to-device 5G ambitions. AST SpaceMobile Aims to Expand Service While Managing Delays AST SpaceMobile aims to deliver 5G-quality voice, data, and video coverage worldwide. The company expects to offer nationwide intermittent service in the U.S. by the end of this year, with the U.K., Japan, and Canada coming online in the first quarter of 2026. Still, execution speed remains a concern. The company's first 20 satellites were initially scheduled for launch in 2023, yet only five commercial units and one test model are currently in orbit. CEO Abel Avellan told analysts that launches will now occur every one to two months in 2025 and 2026, with each sending up six to eight satellites at a cost of $21 million to $23 million each. Analyst Views Are Split on Execution Risks Some analysts are cautious about whether AST SpaceMobile can meet its ambitious service milestones. Oppenheimer's Timothy Horan acknowledged management's target for limited service in key markets by late 2025, but said he remains 'skeptical' about the early 2026 goal for full voice, video, and data capabilities. He has a Perform rating on the stock. Others see more upside. Cantor Fitzgerald analyst Colin Canfield believes AST's strengths in digital payload technology and its high-profile tech partners could make government contracts a major growth driver in the coming years. He rates the stock Overweight with a $30 price target. AST SpaceMobile Races against Musk's Starlink and Other Rivals AST SpaceMobile is in a high-stakes race against Elon Musk's Starlink, Apple-backed Globalstar (GSAT) (AAPL), and Amazon's Project Kuiper (AMZN). These competitors are already pushing aggressively into satellite-based internet and direct-to-device communications. So far, AST's revenue remains small, with $1.2 million booked in the June quarter. But management projects between $50 million and $75 million in revenue for the second half of 2025, mostly from government and commercial customers. That expected jump will be an important test of whether its technological edge can translate into meaningful market share. Is AST SpaceMobile a Good Stock to Buy? According to TipRanks, seven Wall Street analysts have issued ratings for AST SpaceMobile in the past three months. Out of these, five recommend Buy and two suggest Hold, with no Sell ratings. This gives the stock a consensus rating of Moderate Buy. The average 12-month ASTS price target stands at $47.84, implying a potential 4.18% upside from Monday's close at $45.92.
CNBC
6 days ago
- Business
- CNBC
SpaceX rival AST SpaceMobile prepares to deploy nearly five dozen satellites
Satellite designer AST SpaceMobile said it's preparing to deploy nearly five dozen satellites to power cellular-based broadband networks, a move that establishes the company as a rival to Elon Musk's dominant SpaceX. The company, based in Texas, released its second-quarter earnings after the bell on Monday, reporting that its satellites are fully funded and preparing for deployment with more than $1.5 billion on its balance sheet. Shares of the space company surged more than 10% on the news on Tuesday. The stock is up more than 140% year-to-date in what's been a boom for space broadband technology. "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," CEO Abel Avellan said in the report. "We also have planned orbital launches every one to two months on average during 2025 and 2026." AST SpaceMobile currently has six satellites in orbit, used for both commercial and government applications. The company plans to deploy service in the U.S. by the end of the year, followed by the UK, Japan and Canada in the first quarter of 2026. Avellan added that AST SpaceMobile plans to launch satellites every one to two months to reach its goal of 45 to 60 by next year. With Monday's announcement, the company joins the growing race to build broadband service in space, with notable player SpaceX currently boasting more than 8,000 Starlink satellites in orbit. Other rivals in the space include Globalstar, backed by Apple, and Project Kuiper, backed by Amazon.
Fast Company
6 days ago
- Business
- Fast Company
AST SpaceMobile's stock price is soaring after the SpaceX rival reported earnings. Here's why
Heads up, Elon? AST SpaceMobile, a Texas-based startup that designs and manufactures satellites with aims of challenging companies like SpaceX, saw its stock price shoot closer to the moon after it announced second-quarter earnings on Monday. The catalyst appears to be that the company's plan to deploy as many as five dozen satellites into orbit by next year is actually taking flight, and is fully funded, per AST's earnings report. '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,' Abel Avellan, founder and CEO, said in a statement. 'We also have planned orbital launches every one to two months on average during 2025 and 2026.' At the same time, the company reported widening losses of $99.4 million for the second quarter of 2025, compared to $72.6 million for the same period last year. Shares in AST SpaceMobile Inc (Nasdaq: ASTS) were up almost 13% in premarket trading on Tuesday as of this writing. Half dozen satellites already in orbit The company currently has six satellites in orbit, Avellan added, so the deployment of dozens more would signify a huge increase in its current presence in space. Its goal is to create a space-based cellular broadband network to rival SpaceX's Starlink, which could help connect smartphones and computers to the internet in areas where terrestrial coverage gaps exist. '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,' Avellan said. Starlink is only one of several potential rivals in this space, however. For instance, Apple is currently backing Globalstar, while Amazon has Project Kuiper.
