Add to Watchlist Despite the company’s promising backdrop, the space-based cellular provider posted Q1 earnings per share (EPS) of negative 66 cents versus analyst expectations of negative 23 cents. The EPS miss was AST SpaceMobile’s fifth in as many quarters. Quarterly revenue also disappointed, with $14.74 million missing the consensus mark of $39.01 million by a country mile. That was particularly magnified when looking at the company’s Q4 2025 revenue of $54.31 against expectations for $39.53 million. Fortunately, the Q1 report wasn’t without its highlights. AST SpaceMobile reported a healthy balance sheet with approximately $3.5 billion in cash, cash equivalents, and restricted cash as of March 31. The company is still in its nascent stages of revenue generation, but it should be able to continue seamlessly scaling thanks to more than half a million square feet of manufacturing and operations space around the globe. BlueBird 8, 9, and 10 are expected to be delivered within a month, and AST SpaceMobile is in the process of assembly through BlueBird 33. Ultimately, the firm plans to have 100 BlueBird satellites in its fleet. In his earnings call comments, CEO Abel Avellan highlighted the company’s 95% vertically integrated manufacturing strategy, noting how it provides a long-term advantage with its manufacturing team ramping up significantly over the past several quarters. AST SpaceMobile’s Volatility Should Be Expected AST SpaceMobile has dealt with its fair share of setbacks this year. Launch delays and Blue Origin deployment mishaps have resulted in heightened volatility in share prices. As a result, ASTS now carries a beta of 2.60, meaning it is more than two and a half times as volatile as the broad market. But with high betas come high risk-reward opportunities. Shortly after the BlueBird 7 LEO failure in late April, the stock bounced back within a week on news that the U.S. Federal Communications Commission granted AST SpaceMobile commercial authority to deliver direct-to-device, or D2D, cellular broadband connectivity from outer space nationwide in the United States. That catalyst followed another in late February that caused shares of ASTS to jump. In late February, the Midland, Texas-based firm—which has secured strategic partnerships with Verizon Communications NYSE: VZ