Advanced Television

AST SpaceMobile’s story “more than hype”

May 28, 2026

The battle between SpaceX, with its very well-established portfolio of orbiting satellites and rival AST SpaceMobile is heating up. Both want to establish their cellular connectivity credentials before Amazon Leo’s satellites enter the competition.

But while Starlink has only a very basic cellular connectivity solution (although it will improve over the next year or so), AST says it has the technological edge to wholly eliminate so-called terrestrial ‘dead zones’ with its ‘best of breed’ technology.

Research from Zachs Investment – one of the largest providers of independent investment research – takes a close examination of the AST promises, and updates clients on the current status of AST.

Zachs says: “Headquartered in Midland, Texas, AST is in the process of building one of the world’s first global cellular broadband networks in space. These networks will be directly accessible by standard smartphones (4G-LTE/5G devices) for commercial and government use, leveraging its extensive Intellectual Property and patent portfolio. The SpaceMobile Service is currently planned to be provided by a constellation of high-powered, large phased-array satellites in low Earth orbit (LEO) using low-band and mid-band spectrums controlled by Mobile Network Operators (MNOs) in areas lacking terrestrial network coverage. The SpaceMobile Service is expected to be highly attractive to MNOs as it will enable them to improve and differentiate their service offerings without significant incremental capital investment.”

“Utilising large phased array antennas, AST’s technology is backed by more than 3,850 patents and patent-pending claims,” adds Zachs. “This design aims to deliver global cellular coverage by eliminating dead zones and providing space-based connectivity to areas without broadband service. By connecting directly to standard smartphones at broadband speeds, these advanced phased arrays eliminate the need for special equipment, enhancing current mobile networks while ensuring seamless use of existing mobile phones. The recent FCC approval allowing commercial supplemental coverage from space in the US validates AST’s technology and supports future commercial deployment plans.”

“AST has effectively deployed its initial set of commercial satellites in LEO. Named BlueBird, these satellites feature more than 5,600 cells within the premium low-band spectrum. They are equipped with communications arrays spanning 693 square feet, providing non-continuous service across the United States. The successful deployment of BlueBird 6, which features a 2,400 square-foot communications array and peak download speeds of up to 120 Mbps, marked another operational milestone. ASTS is currently in production through BlueBird 32 and continues to target approximately 45 satellites in orbit by the end of 2026, with launches expected every one to two months,” continues Zachs.

The research note adds that AST has strategically partnered with leading telecom companies to grant customers easy access to its technology. Collaborations with Rakuten, AT&T, Verizon, and TELUS have expanded its international footprint and strengthened long-term commercial opportunities.

“SpaceX will go public on June 12th. Betting markets suggest that the leading space company will garner the largest IPO market cap in history (~$2.3T). If this is to occur, it will immediately re-rate all space companies higher,” advises Zachs, and says: “AST’s story is more than hype. Wall Street projects that revenues will grow from under $100 million last year to over $700 million next year!”

AST is also helped by being cash rich. ”As of Q1, the company reported over $3.5 billion in cash and cash equivalents. While the company is still operating at a loss, this funding reduces near-term refinancing risk and provides flexibility to sustain the planned satellite deployment,” concludes the Zachs report.

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