AST SpaceMobile falls after Q1 rev miss, $500 mln stock offering plans

Shares of satellite communications firm AST SpaceMobile ASTS.O down 4.6% premarket at $25.90 after co reported qtrly rev below Wall Street's expectations and announced planned equity raise

Midland, Texas-based firm late Mon said Q1 rev was $718,000, well below analysts' estimate of $4.2 mln, per LSEG data

Loss of 20 cents/sh in qtr was wider than 16 cents loss a year ago, while analysts projected loss of 18 cents

Co said anticipates orbital launches every one to two months on avg during 2025 and 2026

Early Tues, co files up to $500 mln ATM (at-the-market) equity sales program to be handled by B. Riley, Barclays, BofA, Cantor among others

It plans to use net proceeds from any sales for general purposes

Co has ~328 mln total shares outstanding for $8.9 bln market cap

Through Mon close, shares up 29% YTD

7 of 8 analysts rate stock "buy", 1 rates "hold" and median PT is $38 - LSEG