AST SpaceMobile Pushed Commercial Launch to 2027. Here's How Long Its Cash Lasts Until Then
AST SpaceMobile is already bolstering its cash balances to ensure it has sufficient funds to launch its satellites into orbit.
Overview
AST SpaceMobile (NASDAQ: ASTS) is taking on Space Exploration Technologies (NASDAQ: SPCX) and its Starlink service. That's a tall task, given that SpaceX has a fully functioning satellite network and AST SpaceMobile is still building its network out. With the launch delay of 45 satellites until 2027, AST SpaceMobile shareholders should worry about whether there's enough cash on hand to fund the business. Management is already on it.
While AST SpaceMobile doesn't have its planned satellite network fully up and running yet, its technology works with existing cellphones. And it has agreements with large cellphone service providers to offer the satellite service to their customers. That gives AST SpaceMobile a built-in customer base for when it finally offers a robust service. The problem is getting from here to there, since building and launching satellites isn't easy.
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Originally published at www.fool.com.