AST SpaceMobile posts wider quarterly loss after BlueBird 7 satellite incident

• AST's shares fell 2% in after-market trading.
• The company faced a $125.9 million one-time charge tied to an April launch mishap that led to the de-orbiting of its BlueBird 7 satellite.
• Its quarterly loss was also driven by higher operating costs as it expands its satellite network.
• AST reported a net loss of $230.91 million for the quarter ended June 30, compared with a loss of $99.39 million a year ago.
• Operating expenses increased more than fourfold to $329.1 million, including the $125.9 million loss on involuntary conversion.
• Second-quarter revenue came in at $31.52 million, missing analysts' average estimate of $34.98 million, according to data compiled by LSEG.
• It ended the quarter with cash, cash equivalents and restricted cash of about $2.7 billion.

AST SpaceMobile is targeting the deployment of approximately 45 of its commercial BlueBird satellites in orbit by early 2027.

"As we get ready to ship BlueBirds 14, 15, and 16 and continue expanding our constellation with production ongoing through BlueBird 46, we are preparing to initiate beta services with select strategic partners," CEO Abel Avellan said.

Since the April incident, AST SpaceMobile has successfully deployed several BlueBirds into low Earth orbit.

Aug. 10 (Reuters) - AST SpaceMobile ASTS.O on Monday reported a wider second-quarter net loss, hurt by a one-time charge related to the loss of its BlueBird 7 satellite.