Q2 results from AST SpaceMobile reveal shortfalls, while backlog expands to $1.3 billion.

ASTS · AST SpaceMobile Inc.

The AI's read

ASTS missed Q2 revenue and EPS while reporting a much larger backlog (~$1.3B) and reaffirming fiscal revenue guidance. The miss on losses (77c vs -28c expected) and revenue shortfall matter because they undercut execution credibility. The market has already reacted, down roughly 5.5% since the print and -1.42% in extended trading, while RSI sits at 65.4, so the name is not deeply oversold. There’s a tension between strong backlog and weak quarterly execution that investors will parse quickly. We lean bearish. The EPS miss increases execution risk and creates a plausible re-pricing event even with backlog strength, so expect headline sensitivity and continued volatility.