AST SpaceMobile Inc Q2 2024 Earnings And Business Update Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Griffin Boss - Riley Financial, Inc. - Analyst : Hi, good afternoon. Thanks for taking my questions. So first for me, the 17 satellites under construction is certainly more than what we expected. How would you characterize your current production capacity? I know in the past, you've discussed expectations to reach something, I think equivalent to six satellite per month cadence. Have you reached that? Are you tracking better? Any more color would be helpful.

Question: Griffin Boss - Riley Financial, Inc. - Analyst : Great. Thanks, Abel, for that color. Appreciate it. And in terms of the initial Block 2 satellite launch, are you still tracking for the late 4Q, early 2025, kind of launch window there? Are there any delays or issues you're seeing with the launch provider? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 14, 2024 / 9:00PM, ASTS.OQ - Q2 2024 AST SpaceMobile Inc Earnings And Business Update Call

Question: Griffin Boss - Riley Financial, Inc. - Analyst : Okay. Great, Glad to hear it. And then, so Scott, there was sort of an informal interview with you recently on a financial blog where you cited some ARPU assumptions for the US. I can't recall hearing the company formally mention potential ARPU in the past. So I would love it if there are any assumptions or expectations for ARPU you can share it today, especially now that you've got two definitive agreements under your belt?

Question: Griffin Boss - Riley Financial, Inc. - Analyst : Okay. Got it. Understood. Thanks, Scott. And last for me, very quickly, I'll pass it off; I just want to confirm that this new contract liabilities line item we're seeing in the statement of cash flows is that reflecting the Verizon revenue commitment? Or is that something else?

Question: Griffin Boss - Riley Financial, Inc. - Analyst : Got it. Okay. Thanks, Andy, and welcome to the company, and thanks for taking my questions, everyone.

Question: Benjamin Soff - Deutsche Bank AG - Analyst : Yeah. Hey guys, thanks for taking the question. Exciting quarter with a lot of interesting development. I was wondering, now that the satellites are on-site in Florida, can you walk us through the timeline and key milestones between launching in early September until you get to commercial service? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 14, 2024 / 9:00PM, ASTS.OQ - Q2 2024 AST SpaceMobile Inc Earnings And Business Update Call

Question: Benjamin Soff - Deutsche Bank AG - Analyst : Okay. Great. And then just going back to the 17 Block 2 satellites, do you have any updated thoughts on the cost per satellite and the timing to launch those?

Question: Benjamin Soff - Deutsche Bank AG - Analyst : Okay, great. Thanks, guys.

Question: Chris Schoell - UBS AG - Analyst : Great. Thank you. We've seen a number of regulatory milestones here in recent months. Can you help us think through your remaining approval process here in the US and the likely timeline for that? And I think there was general optimism previously that other countries could follow suit with similar rulemaking to the US Have you seen any evidence of that to-date?

Question: Chris Schoell - UBS AG - Analyst : Okay. Great. And if I can just fit in one more, I think you mentioned no public equity offering this year, but as you look toward Block 2 and beyond, can you just help us think through the timing of additional funding requirements and how do you think about the trade-offs for different capital sources going forward? Thank you.

Question: Chris Schoell - UBS AG - Analyst : Great. Thank you very much.

Question: Chris Quilty - Quilty Analytics LLC - Analyst : Thank you. So I noted that in the press release, you mentioned that there is an outlook for larger size government contract awards. And I mean, are we talking kind of like Phase 3 or some OTAs or a budget line item in terms of the types of programs that you might be able to participate in?

Question: Chris Quilty - Quilty Analytics LLC - Analyst : Got you. And mentioning your prime contractors, some of those are involved in the PLEO contract. Is it fair to assume that that could be a potential vehicle for funding or --?

Question: Chris Quilty - Quilty Analytics LLC - Analyst : Also, just back to the ASIC, I mean, is it fair to assume that the ASIC production or delivery into production is sort of the gating factor for -- scaling up to the full Block 2 satellites?

Question: Chris Quilty - Quilty Analytics LLC - Analyst : Grerat. Thanks for all the the details.