ASTS - Earnings call transcript Q4 2023

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Operator

Good day, and thank you for standing by. Welcome to the AST SpaceMobile Fourth Quarter 2023 Business Update Call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your host today Scott Wisniewski Chief Strategy Officer of AST SpaceMobile. Please go ahead.

Scott Wisniewski

afternoon, good and you, everyone. Thank

you Let presentation, X the Page contains me our refer which safe of to harbor disclaimer.

During forward-looking statements call. statements. events to current may on uncertainties. Many make this are risks materially cause subject we as on actual could are and expectations, today's based assumptions, from and result, to differ factors These call, statements a certain the forward-looking

uncertainties, the report please of For Form refer statements disclaims the documents after the questions Commission with are be to advance risks our update more may company that from to SpaceMobile information our year section annual obligation about will and the starting cautioned AST Risk this XXXX, section Securities to time statements the AST Q&A for time. Readers specifically initial and undue not SpaceMobile any XX, call. with on forward-looking these XX-K Factors put discussed other December reliance and be by SEC by to with during ended on we filed our the Exchange Also, shareholders. in remarks, and submitted forward-looking

to referring Page X. Now

today X new mobile For are we as those travel. there company phones and many over us world, the are in gaps of in mission, our to and coverage but you who use of around experience billion still live, work

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Abel Avellan

months AST like of will call. you would QX and an at here our XXXX focus to welcome everybody few areas I through business our you, today. update I been SpaceMobile, key has busy It Thank Scott. on to updates walk incredibly

initial start represent and board funding also Low Block confidence advance payments. near-term First, the next-generation Block will ] the With and necessary [ the following strategic business announced execute ] alongside I AT&T, which in X,XXX very foot foot [ Vodafone, square the We're surpass of Blueprint additional this, as strategic year, X,XXX we BlueBird, strategic the Google to for a Earth I Orbits. our continuing excited BlueBird the from in partners to commercial of strategic investments on at technology array we land launch of investment phase satellites which with model. to and hand have square largest discussion

commercialization on use States our through development new believe a prime contractor, dual award and a of with for was will great we government satellites. we the Another door contract announced open applications our the government commercial United which

see application follow rules like this countries new globally in AST a provide standard received many SpaceMobile Space, voted we will making large the in U.S. starting application process the the which to FCC facilitate XX This to we megahertz March should will was to majority FCC spectrum in entities the direct-to-device SpaceMobile On over to of great services the rollout for overall the applications. We regulatory news the will with rules, to the approve our We're pathway front, coverage of new February. have cover published AST's the recently which Brazil. by regulatory services. This from FCC regime regulate The U.S. of log the supplemental technology. anticipate simplify provide regulatory our commercial to XXX support which

Manufacturing. to Moving

and our launch. dependence fully are production integration for stabilizing assembly X to with production these facility order of are next next This to Texas At II. In leading satellite testing the other square and time, and the manufacture satellites negatively testing. on in XXX suppliers, primarily for is foot line. and we our operational of for important square Block of be production initial micron Block accelerate faced acquired challenges the have supply outside microns Block to new and to manufacturing was by our the one IP foot design. own delays a are I our grade our XXX,XXX Unfortunately, rapidly with reduce X micro suppliers, we we on license block the BlueBird, because building same while also same the components impacted and production, replace Our I used

With II able IP the our XX% for supply chain manufacture third be and through of will further. fixes, satellite, our next-generation Block BlueBird we parties approximately to in-house satellite our all supplier our of securing own subsystems

launches line. provide near-term to Next, time updates orbital share our a I can on

planned developed entered we array the power which we ] to last I the an XXX-foot able low the be orbits. secured our from Block II custom next-generation a spectrum foot XXXX, contract loaded our between square We costume [indiscernible] contract first announced rate launch facility channels. This from was data XXXX. enable phase, megabits August man satellites. as largest X,XXX on per bandwidth expect Block ASIC looking the surpass of number satellite satellite. and phase enabler in ] X ASIC which window March additional X our And with BlueBird of that will BlueBird ahead, ASIC on to relatively governmental with as Also, architecture have assembly million and will side to approximately transported is excited $XXX to peak have to large launch December the X,XXX design megahertz BlueBird tape-out novel broadband each approximately represents on XX up array to processing is [ XXX and July processing XXXX interest Block with satellite, for I to XX,XXX phase Block the the space-based letter lastly, in The cellular X as II funding. of square for [indiscernible] of addition of refers earlier, -- nonbinding custom in years very of we a development improvement satellite, effort discussion next-generation years the feet XXX are with tenfold received balance along well a over phase true a intensive alone. And small with This nondilutive megahertz week, [ an strategic work estimated equivalent of

initiated these the a As more Sean will we and you have be to with funding sources, we process about this. spending result,

payments. X strategic great advance globally, American for our the we to alongside as With investments the are mobile Google from on are prospective collaborate more a product agreements Google, on network as particular, subscribers Vodafone AT&T, customers. the with AT&T discussions globally. alongside organizations commercial Turning could the Vodafone, U.S. prospective which and partners our additional and to not and billion agreement a XX with over execution for Tower development have some great be and largest in investments customers government. Canada Bell operators We and great have onside of before, understanding more MNO X. of significant following Google age continue be of us. The had joined strategic to stated to existing than of blueprint mission. And will proud us these Rakuten, benefit investors. I They our

with United I ago, announced government prime a to what Page we Turning [ the a is award few step A new weeks States X. take through back want the opportunity to a here. on ] contractor.

at in address capabilities benchmark, potential the our on government Our array large able large underway opportunity business, low model for for while we're a with The fit opportunity with the large is mission-critical into high compared to for government well. commercial desired phased orbit space use networks historical And many with excited antenna aperture cost and about governmental technology capabilities. remain deliver we U.S. in commercial sector. power as capturing focused a dual initiatives

recording under We potential this year us calendar contract contract QX revenue available in XXXX. there XXXX. other to additional of in Also, are initial including have this phases awards, begun

is want and a having walk Page broadband Turning it's [indiscernible] really moment to space. true to deal, a big critical to X. through why our achieve take to ASIC I

Our which years. tape-out each work in bandwidth enable and leading to semiconductor novel cheaper foundry produce mass to was architecture in processing up to the completed with custom following Satellite, less with will lighter, on to be The the orbit. be and developed require last low-power satellite. world's the will will leaders tenfold over improvement TSMC, industry

partners be For those the and $XX the work of proud will of enable to handed over the million foot those team's reach familiar the to BlueBird, extremely design the formally year. I now effort set square have industry TSMC. which produce years II critical investment, chip this with the to ASICs tape-out you designed for next-generation am completed initial To milestone. that of who the jargon, X,XXX this receive later ASIC. Block we X means the development After our and of to of are we not of expected

pocket. Antenna phone along of our space [indiscernible] Large with your megahertz XXX for Our a combined Scott regulatory to to data I and in enabler processing with will update. ASIC pass large will channels phase per from the now beam per that be XX on provide array is a to to that rate brief it true key broadband the megabits enabled our second XX,XXX up megahertz bandwidth

Scott Wisniewski

standard a front. some To I'll stage. of regularly front the back take a XXXX, reminder direct-to-device provide we you, of phones our for them very through regulatory around important early Thank progress in made using with been from Abel. first On our X, we've everyone, on and the cellular SEC Page filings in unmodified us

United band AST closer reflect a megahertz and well. device test framework the of the And over it Claro, licensing America strategic and FCC just future to the represents an network to SpaceMobile's network it the to alignment build-out facilitates in prior direct for for provide our Mobile. application in U.S. FCC TIM operations to Importantly, States. we a enables low the frequencies hand jurisdiction XXX vote, initial also in adopt with internationally, off And Brazil for direct-to-device commercial March subsidiary unanimous with U.S. This this Brazil framework enables update. that, us financial to of with specifically as announced This to in I'll regulatory of Brazil Sean filed updated because to application And a decision rules an our use. new service

Sean Wallace

to integration gigabytes custom to the out X regulatory also of assembly, ASIC would The future processing good a capacity MNO entered level tape-out on on inventory and afternoon, substantial The through point chip. AST front will ASIC The for end sell January, ] and believe chip been ASIC we continued with raise this in a work facility SpaceMobile increases on which from everyone. design like and to has focusing deported will significant significantly an I fundraising continued to business systems difficult our by in provide phase our partners users. a will planned competing of progress our in X-year be satellites, we that [ BB-X in the that of Scott, satellites. Midland, develop activity make Thanks, process testing quarter the can a start. for standing the investment production almost have large we of

our backward I As and of Block-X constellation reviewing thank hard-working at testing strategy production of and on we fourth that and suppliers an key build of the metrics to to engineers, a get our us move Slide closer recognize want the and our to task. I completing of We strategy to on enable are of to operating our X. will into for teams quarter years displayed assembly the who are integration this outsourced cost. satellites satellites, lower ahead want incredible the completion technicians the of integration believe X

operating certain first of the the we depreciation quarter XXXX, Non-GAAP we operating noncash and costs, adjusted non-GAAP quarter. $XX.X chart, had million excludes $XX.X cash million third including operating the On expenses and see amortization versus of fourth adjusted in compensation. stock-based expenses

$X.X quarter Our operating increased adjusted expenses fourth versus the by million non-GAAP third quarter.

development this engineering prototypes our due models manufacturing connection increased expenditures Our quarter research on to and expenses in rose million $X.X process. by and with

development nonrecurring of completion the engage activities and based R&D which on third-party we expenses typically payments are Our for of primarily consist vendors milestones.

as expenses compared services administration $X.X general engineering Our quarter. by the million $X.X expenses decreased fourth third quarter million in increased our to and by the

on Turning second towards the chart page. this

additional some for the facility of payments quarter. million for for Midland test commercial-grade the capital Our $XX.X equipment satellites, figure million made facility materials in of This and Nokia. expenditures software for up $XX.X capitalized quarter were fourth third integration the from was assembly, launch delivery direct production versus and our modest the and Block-X

amounts we of the the for the have As of the expected quarter, spent fourth over of XX% X end Block-X satellites.

million $XXX BB-X slide, still final projecting on And ended with to $XXX.X chart for the first cash. X on are million quarter spend the we the We approximately the satellites. in

continuing the add our facility if reduced strategic we are of accessed the incurred and around of at may would to amount balance low negative minimum, of facility, which have had the We an a has the XXs. Efforts raising over credit take pursue precedence senior would using earlier. facility, bit capital the senior a capital in carry the deferment credit we

for As we to our this cash to our through stated XX facilities the existing least support is believe in next at we raise as as our XX-K, capital sufficient expenditures well ability months. our

depending us are flexibility This changes and also the cost to As our in have our of our our characteristics this comfort decrease expenditures flexibility depending we of our raising in provides guidance provided dynamically we year, us modular of profile capital plans operating positions or on build-out expense discussed these expected our increase levels. provides can XX-K, upon plans quite capital. and liquidity rate we availability on our capital. Earlier manage that rate and

We of chip this and design BB-X completed per have $XX.X satellite these XXXX BB-X the the figures average to work. adjusted is most to material the operating recognized development without work during expected related future X construction expenses related in operating in These Overall, expenses as activity employment is our designs, completion. milestones the will is approximately the design R&D in and of critical $XX completion upon satellites. million to third-party ASIC X ASIC cost in design be as in the our material the initial are manufacturing adjusted expected completion ASIC as of are in per of depending each This will significant as been our million in average design II our Block for an from result cash and The Block-X Block-X, of be a million expected XXXX costs period. This guidance our of the to I does Block XXXX subsequent decline related an efforts completed. capital and production quarter vary count quarter reduction and of takeout reduction BB-X expenditures expenditures. not a our approaches and the $XX These include chips. reduction will an portion quarters ASIC a of of to done work of expense head supporting reductions and

been through proven utilized structures of note, which to projects. to on the quasi-government technology realized as our long-term which On like one timing deployment factors. delayed a the expect for We infrastructure agencies capital debt significant to the the to a underpinning of the providers which XXXX. in historically our I as outlook round. adjusted of our funding could expenditures. of additional these or complement conjunction II other or either be export government XXXX to key just expenditures also be late final expenditures, in sale Any satellites, these capital million million reduce The Satellite source some increase has large with variety our the is in expenditures and creditworthy have of provide and we have known $XX and Timing Block next quarter large to be in detail I'd first plan of changes our of $XX could described, cost-effective, The for due quarters, operating of aggregate not capital institutions, recent funding as reach of the funding spend long-term additional in BB-X. levels we beyond may will final strategies, strategic credit and entities. approximately X capacity to be to are investment agreements

these of We the hiring have and an funding process begun adviser developing which of approaching institutions includes materials. the marketing

discussions with we agencies, evaluate willingness preliminary us. type letters indicate of with of a As have their which financing these few to a this received

process. will financing this of And earnings financings. back type provide of it I stages of on we no very completes early and pursuit to the potential funding. presentation in the We be pass be and call, are successful our these assurance There the component that, can this as Scott. this with in we progress, of updates And will I that

Scott Wisniewski

Thank Sean. you,

Before the to would questions, of analyst of we of go a submitted call start I by the first like the could us few investors. the to off with queue ahead Operator, address questions our question? you please

Operator

production asks, month while the Will to the be to a meet Colorado from Trevor per facilities scaling serious X-satellite of built? company is the there on Or production that begin are figures? delay being where will immediately? be able

Abel Avellan

question. the for Trevor, you, Thank

the had had step [indiscernible] feet for our do build We So of of our require first in-house. testing XXX,XXX to taken in the all, We not let be of me facilities. our square out facilities are manufacturing built. of build the facilities of satellites fully all We any facility capability.

problems these integration, everything the of to this with build the and suppliers ASIC launch are to vertical all addition space holding XX% from that graph. cause We these that in to away I we getting X a are required Block us and is structures

same we use anticipate to II that the building stabilized it other going delays this satellites block related Block part is will don't forward. we the will and use to get produce and Block and same at aspect further to manufacturing time any So took pace facility that I to building. Also, for building that we be or the for

or the July working that Block And will March. the on So of Is estimate that next already our we be August. right focus orbit. December putting a launch we're course, is in launch producing in window at or and Again, now we the is between on path

Operator

was please offering rushed this structured on Estonia it early million and it reasoning asks, year, why from was stock the Christian way comments launched? give $XXX could you

Sean Wallace

we for plan. of transaction a banks, so the chose additional we the complement offering Taking the to the At the believe continue that. providing that significant our our was pursue our route advice day, Thank to to raise achieved business capital the end of best strategic of structure raise. funding we goal level our of capital you

raise will most my we during working like of most with strategic in shares the made forward, we is described of debt team ecosystem out compensation options. raise that I'd capital shareholders I continue credit to also Moving and the as January, aligned point look export low-cost with wireless agencies, their management senior to we to did are is and of capital up as in with players restricted presentation. the long-term

Abel Avellan

why also we So we to and and the on public the of receive regard. to very and have to to we Google support build funding needed to that prioritize at investment need from and and to And Sean's production are answer complemented on the deal. have time, target a launches. commenced we have strategic the nondilutive continued, AT&T, we equity on the needed which to keep what additional financing, Vodafone complement interest our nondilutive will plan excited working our and that team do about in to same timing. We We order to that with letter strategic is that complement continue is Sean financing our

payments. with from and MNOs addition prepayments In government

Operator

need BlueBird to Ship a larger Dennis to satellites launched? from size Block [indiscernible]. X Due Space their be rocket Star do II and

Abel Avellan

Thank you, not. the the question. Danny, answer for No, is

that in using X Falcon Block next for other including of we'll can the our for the the launch be As also Is a we're past launch we Bluebird next X I. -- And launch and fact, launch. on launching one matter providers,

provider vehicles. that ISRO, We [indiscernible] we be X, to launches, Ion completely built [indiscernible] other to medium- last have agnostic VI, future Falcon used. obviously launch to size satellite on our one count So and providers the new launch is have

don't answer we're not question we the not for we to -- the no, II So require is do counting launched. with Block Star Ship your -- our

Operator

of [indiscernible] ASTS Zealand affect the how the commissioner asks Bell's from the does as mission? New appointment a ITU

Abel Avellan

that broadband our know pocket. And focus get the making our to not dent any ability X.X the do amount regarding work globally I that regarding the Commission Linden. through sure had had people, where a global to remain people that that that I had their than live, in and in a scope make people billion to the mean, is program phones of truly And connected enable broadband program. phone listen, that the connected. they other that Broadband get mission significant in unconnected a has the single

broadband like we broadband is commission, in participants Telmex [indiscernible], the Mexico. owner this with the commissioning had in alignment So an of the great

Chairman many Chairman We have a interest and and of of vibrant governments, had of wireless regulators, We get right, the fact that connectivity very making the instituted the that ecosystem, full that the of people the participation global have sure human including FCC, a we is of is a Chairman basis. large core Verizon. the on

a It tests low-cost where this to support many we knowledge of see in broadband available funds information be basis. commissioner, the and initiatives we it are So like to universal mission. network something is that proud to have and our new global part program [indiscernible] everybody we on a the for

of that phone. our have where in we It's supportive. part regarding to So work their we this on or think live making broadband that sure everybody work access is

Scott Wisniewski

And open with let's submitting our I'd the these that, to analyst questions. shareholders questions now. Operator, to thank call for like

Operator

Chris with first Quilty Analytics. the Our Instructions] Quilty comes line from [Operator question of

Christopher Quilty

look a When microns the difficult vendor pricing on higher are issues where were chain Micron the any question them? to Just or order the relative of that, elements a that and that in with certain to particularly you as you might bringing associated view had for manufacturing, there in-house. have those might -- manufacture at have first volumes components supply you

Abel Avellan

the either designed are Micron Chris, is launch, question. that them. goes basically you all the everything Currently, We FPA. block microns us. components manufactured which know, for the or -- with batteries, the building as The to all is, All part, the panel. solar on the electronics, this satellite for manufacture into thank the way based from of the is are is you structures,

existing buying stores. that's from So from we're those

be will with with For forward then are AST-XXXX ASIC with launch. the move FPA, the following Block be also we and there the the launches first I,

were clarification, an are them. of just were microns -- as suppliers system. they we that X So naming They give the a part ControlSat the in the not issue, the us not

Christopher Quilty

Perfect.

Second does with any your it? standing in does filings regulatory to how for redomiciling purposes regulatory question, the U.S., that the impact or

Abel Avellan

don't We of impact that see none that.

opportunity States from lead I -- with and government, now a we United U.S had fundings our the think that potential FCC think the we are the that had finding will framework of and the the how a in rest thought product the was time actually world our We there right regulate process to to right globally. to U.S. that flag. move our size

core of we reusing So the and basically with that regulatory we're of a is with we very to the working live, already We're regardless we very for that through spectrum actually large seeing proud from focus what now very are accelerate. of space, of the and connecting the able their framework it which in fund terrestrial the using countries reusing used of see on be our that, everybody now people existing closely in the replicated to is new start in global process regardless that obviously where deployments technology, is basis. that is FCC, phone happy the

Operator

the Our B.Riley next Mike Crawford question from of Security. with comes line

Michael Crawford

launch for that I end the of the that a March it like that's Falcon heard the not frame? And you're SpaceX? How many looking you're in different provider, launch X you IIs Block Block can BlueBird from on December summer. on fit putting at and to time I the X sounds

Abel Avellan

not March rock. contract yet square launch an based window II we're and large but provider provider, satellite. between a -- also who next is disclosing that's had satellite already the December large negotiated type putting 'XX. feet already it's It's FPGA a We're on It's the vehicle. We and not is The agreed but Yes. is is that X,XXX SpaceX. that large one the launch, Block

Michael Crawford

Okay. service then enable XXXX. you Japan in initial previously in disclosed And to intent

need Japan? be you So IIs service to able in implement be to to in for service how many Block

Abel Avellan

satellites between XX the to have initial service Around XX. and XX launch

parts vertically type microns micron, now are very the to took ones capability I produce the the with just It and We for same But that good everything continue a as the a that news stabilize same that with [indiscernible] that ourselves. of now new micron plan producing to Block And get a expected later more we working get II. to Block up we're It's the space. to more enough and line. ones clarification, to to on the be Obviously, implement also cadence first first year the of that a do the where we changes continue do are into There to the difficult time do them. we XX to that that. as new are to for ones are you per able by full stabilize than have you the on upgrades satellites hard. integrated it

Michael Crawford

Okay. And then a final question.

new Just relates your Google. to strategic partner,

those to, phones your even phone -- I operating to just say, service any connect system that have, do your people with better with certain know make So already works could but network? are there things Android Google that

Abel Avellan

right. Yes. I absolutely mean, you're

is phone, X Our in any years. network, open XG XG, completely for future XG, our technology the

phone. on completely we the actually the dependent phone So on or G are manufacturer the

and about know, billion phones collaborate cellular development excited MNO our provider global However, and implementation of as the the features you the it -- end sole is, devices basis. is we believe, And with for agreed Google SpaceMobile. largest that had for on with X.X of product on to uses Google users super that and the a customers in we benefit Google. ecosystem we then the the on ecosystem are relationship of

is this Android on So to and for the and as customers It's us super create very value users. about excited end ecosystem our we're strategic for relationship.

Operator

comes of next line Our question Benjamin the from Soff with Bank. Deutsche

Benjamin Soff

do And follow-up. have a additional Is color providing? and on And type you first can opportunity there agencies the government just the any service of the government you're with market on My provide about contract. I work think is you U.S. to one in just generally then the abroad? how

Abel Avellan

we're it, be had applications, Yes. as to We're can talking about the that benchmark government square-feet phaseout costing doing higher facility. I we mean, generate. this up that rate of that obviously, can if size mean compare the technology rate, with speak. at very, a very for today you they opportunity costs large. the power And several I we we fact despite do see the of that we're XXX,XXX deliver magnitude, noncommunications our production we of that do, orders ramping a

in MNOs think be we noncommunication in And the large the the to continue satellites see on see market, the We governments is that of obvious get be government any communications of opportunities major the only device there also these global So technology cellular that PP, network based and very used these most large to build see connect that global that an opportunity. this. it to the in to but basis super able being funding take any efficient from way we that are also side, space, to government application, to agreements XG our to we which non-dilutive our do forward. payments changes is of is a interested on see. we users to to multitude use a applications. All a on starting use from without a defense any a prepayments technology the we're continue in expect basis, same not which combination

do so that can think excited technology. government early very very about our our that we're And So we for opportunity. government we're innings we with very, in the the what

Benjamin Soff

on is timing and then on wondering there are has lot a Great. last your And And over couple of Block satellites? satellites. what been any moving recently? II been latest Obviously, the for the question costs just my years. the these changes second And then Block thoughts II pieces there's of

Abel Avellan

costs on No, are we Yes. our the maintaining Block for guidance II.

said, I same. are the the building blocks the As parts,

We are for building Block I.

are now Block our -- of around for supply to build they satellites maintain includes or and XX% assembly we costs line chain, the So II. can -- our our and also processes that our control line,

we are these Block II, So use II, them. software Block Block and battery we I solar maintain solar same same rely panels, systems, same had for structures which to system, the microns, and the on They

that So done. we have had

and So have we incrementally satellite. are of very excited we that. of features add are we taken on where approach the And, to an

really get to the they of data to handsets. to So XX,XXX II, X,XXX to processing of only -- obviously, directly XXX which that, provide rate are which they, larger. it what makes square The broadband we Block is bandwidth, with possible megabit each, but megahertz reuse the way feet is on a are regular

Operator

comes line UBS. from Schoell of question with next Chris the Our

Christopher Schoell

Great.

For generation use what and and coverage. line testing commence initial thinking key you you are the you just milestones for continuous to need the expected then time calibrating And satellites, once and can as you're I Block on that revenue can satellites? await how And us to service? reach the remind you those about more cases commercial also orbit, us update in

Abel Avellan

is It's base. usage Yes. I -- usage a constellation not by noncommercial basically the mean satellite. the initial

satellites. to to incremental it's more launching the that for as core will revenue keep we integrating -- core, generation doing is we -- be have we is So the the that satellites. immediately for system, what MNOs, The the

some markets. that. for ramp a revenue So by pre-agreement satellites. But -- continue an And disclosed there start revenue to on see on generating the AT&T initial for We of initially sale there it's to and to to some is revenue we revenue service prepayment we service for early combination them a is non Vodafone And of of the with basis. scale is satellite the a revenues for applications. is is is to plan is rapidly we contracts, Constellation. into start it launch into build that of noncommercial government commercial There But payment noncontinued that as also with core nondiluted continued with our build of support Block the these the by start I. in using type

MNOs So the we're to build by region, investors of and support our that that the constellation. on continue the and doing with us prioritizing doing we're

Christopher Schoell

you customers That's give but you MNO any already discussions updates your I on likely interest of set you with ongoing, And stand? the potential can dialogue your where is helpful. have? And are seeing that announced partners appreciate beyond

Abel Avellan

is answer yes, The Yes. absolutely.

with We approximately had XX agreements them. or -- operators XX we that have MOUs

or used advanced While in sometimes and not. that. same combined using initially And or AT&T payments investment Vodafone, continue and formula with we'll strategic of prepayments that the we a a to with way do

So ecosystem. we very had a very, vibrant

Google, and all American the in Vodafone, dialogue. Rakuten, now already we Tower. we have that Bell constant -- We But XX AT&T, Canada constant are had relationships

relationship super as very prioritized, customer everybody be symbiotic that as Constellation is and us App operators. in and their of taking interested wants regions possible. as our advantage we're to between Everybody and their soon the seeing

Operator

questions. to time, remarks. would call I like closing the you. no management over I'm further showing turn Thank back for this to At

Scott Wisniewski

broadband Thank operator. analysts everybody great for you, use and Thank hope shareholders I joining everybody the week. had We're for pocket your space-based today. design cellular for a phone in you. network building questions. a of the both thank want I their to

Operator

concludes this today's And conference.

your disconnect Thank day. have good lines a this at you, time. may and You

AST SpaceMobile (ASTS) 1 Apr 242023 Q4 Earnings call transcript