Satellite communications · Direct-to-cell (D2C)
AST SpaceMobile
A space-comms firm connecting ordinary smartphones directly to satellites (D2C). With BlueBird satellites it demonstrated two-way calls with AT&T, Verizon, Vodafone and Rakuten, targeting 45-60 satellites by end-2026. 2025 revenue $70.9M (SDA and carrier milestones). Agreements with ~60 operators covering 3B subscribers.
ASTS Updated Sep 11, 2026 3 AI consumers· 2 recurring
Per the valuechain.wiki graph, AST SpaceMobile is directly linked to 2 companies (1 supply, 0 revenue, 1 investment relationships) and reaches 3 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · 2025 revenue $70.9M
- Customer concentration · AT&T, Verizon, Vodafone; 45-60 satellites.
- Segments · D2C satellite comms · Government (SDA)
Revenue from
- Telecom carriers · government (D2C · SDA) High confidence· Revenue ~$71M · 2025 · 2025 revenue
Supplies D2C satellite comms to ~60 carriers (AT&T, Verizon, Vodafone) and the SDA (2025 revenue $70.9M); AT&T and Verizon, as strategic investors, provide their cellular spectrum — anchor customers and capital partners.Confirms EN Via Satellite Published Oct 8, 2025: Verizon Deepens AST SpaceMobile Ties With Commercial AgreementConfirms KO Cosmos Times Published Aug 6, 2024: AST to start satellite-to-smartphone direct service, like Starlink - Europe · Japan telecom (D2C expansion) Medium confidence
Expands D2C coverage with UK, Japan and Canada carriers (service targeted early 2026) — the path to a subscriber base beyond the US.
Pays to
- Redwire Medium confidence
Redwire supplies solar arrays and structures to AST satellites — a key supplier of the power/structure subsystems. - Satellite manufacturing · components (undisclosed) Low confidence
BlueBird satellite manufacturing, phased-array antennas and parts (targeting 45-60 satellites); the large phased array is the crux of in-house manufacturing difficulty.
Investors
- Verizon High confidence· Amount $35M · investment agreed 2024-05-23 · Principal amount of the AST SpaceMobile subordinated convertible note purchased by Verizon Ventures
AST SpaceMobile agreed to issue a $35 million subordinated convertible note to Verizon Ventures. The remaining $65 million of the announced $100 million package consists of commercial prepayments creditable against future service revenue and is excluded from the investment metric.Mentions KO Meritz Securities Research Center Published Sep 12, 2024: MERITZ Strategy Daily: AST SpaceMobile Rallies After May Partnership AnnouncementsConfirms EN SEC EDGAR Published May 29, 2024: AST SpaceMobile, Inc. Current Report on Form 8-K dated May 23, 2024
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| AST SpaceMobile | node | -41.5 | -39.3 | +25.1 | +249.9 | +244.2 | -14.2 |
| Redwire | benef1 | · | -70.7 | +43.9 | +477.5 | -53.8 | +38.6 |
| Verizon | benef1 | -7.5 | -20 | +2.7 | +13.1 | +8.9 | +29.3 |
| American Tower | benef2 | +32.9 | -25.7 | +5.4 | -12.2 | -0.9 | +2.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
AST SpaceMobile operates across NASDAQ, Satellite comms, Direct-to-cell (D2C). It is -14.2% in 2026. The supply side (avg +38.6%) leads the stock (-14.2%), with spending rippling down to suppliers first. Agreements with ~60 operators covering 3B subscribers.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 1 · Hold 1 · Sell 1 · Avg. target $91 · Price $62.08 (09-05) · Upside +47%