2024 was pivotal for AST SpaceMobile. The space cellular startup has two of the three largest US carriers contributing spectrum, and investing in its LEO satellite network that could connect millions more people and devices and maybe offer services that aren't possible now.
Though AST SpaceMobile is working on something extraordinary, describing it to folks outside the tech world is simple: They're building a global cellular network in space.
The company is doing so in a way that could help traditional telcos. "Our vision is that users will not need to subscribe to the SpaceMobile Service directly through us, nor will they need to purchase any new or additional equipment or mobile device," the company explained in its annual report this year.
Telco perks
That means mobile operators can stay in control of their customers, charging consumers or businesses for additional coverage using AST's network when their traditional terrestrial facilities are out of range. As of April, AST said it had over 45 "preliminary agreements and understandings" with MNOs on revenue-sharing models of various sorts as it moved to launch its satellites and start establishing coverage. AST has commercial agreements with Vodafone, American Tower, Rakuten and more.
In September – two years after the launch of AST's BlueWalker 3 prototype satellite, which the firm used to test its ability to deliver voice and data to unmodified phones – AST's first five BlueBird satellites reached orbit. Here's the company's sizzle reel from the event:
That launch puts the broadband startup on a trajectory to provide satellite roaming to its two most prominent telco partners (and financial backers), AT&T and Verizon.
Political gravity
The company has been worth watching in 2024 for several reasons. It's launching satellites, but it's losing money. Its stock couldn't be hotter (up around 300% in the 12 months). And it faces much competition, including direct opposition from Starlink, SpaceX's broadband satellite division.
Elon Musk, SpaceX's CEO, is not just a competitor. When Donald Trump is sworn into office in January, Musk could use his appointed role in the administration to benefit his companies and, perhaps, make life exceedingly difficult for competitors like AST.
Under one company's roof, we have incredible technology, political intrigue, a telco-positive story involving a startup and a stock that could either keep flying past the stars or come crashing to the ground. We can't look away. And if you haven't been watching, it's time to catch up via our coverage of AST and its peers from the past year:
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