AST SpaceMobile, Inc. (ASTS): A Bull Case Theory

We came crossed a bullish thesis connected AST SpaceMobile, Inc. connected LongYield’s Substack. In this article, we volition summarize the bulls’ thesis connected ASTS. AST SpaceMobile, Inc.'s stock was trading astatine $56.20 arsenic of November 28th.

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AST SpaceMobile, Inc., unneurotic with its subsidiaries, designs and develops the constellation of BlueBird satellites successful the United States. ASTS is pursuing an ambitious program to physique the archetypal space-based cellular broadband web susceptible of delivering voice, text, and information straight to unmodified 4G/5G mobile phones. Its BlueBird satellites are designed to relation arsenic compartment towers successful orbit, addressing the monolithic planetary sum spread that affects astir six cardinal devices.

As of Q3 2025, the institution reported important commercialized traction, including definitive semipermanent agreements with Verizon successful the U.S. and Saudi-based stc Group, alongside agreements oregon memoranda of knowing with much than 50 mobile-network operators worldwide representing astir 3 cardinal subscribers.

These partnerships not lone supply entree to indispensable spectrum but besides presumption ASTS to make important request erstwhile commercialized work is active. The institution continues to beforehand its constellation, delivering BlueBird-6 to a motorboat tract successful India and preparing BlueBird-7 for a Cape Canaveral motorboat successful precocious 2025, with the extremity of operating 45–60 satellites by the extremity of 2026. Management emphasized that Q3 2025 marked a pivotal period, highlighted by strategical milestones that materially de-risk the business.

Key among these were 2 landmark 10-year commercialized agreements with Verizon and stc Group, including a US$175 cardinal prepayment from stc expected by year-end. These deals physique connected earlier partnerships with AT&T and Vodafone and bring ASTS’s full contracted gross commitments to much than US$1 billion. Collectively, this commercialized momentum, expanding outer deployment, and increasing fiscal visibility fortify the concern case, positioning ASTS arsenic a imaginable transformative subordinate successful planetary connectivity erstwhile the web enters afloat operation.

Previously we covered a bullish thesis connected AST SpaceMobile, Inc. (ASTS) by Steve Wagner successful May 2025, which highlighted the company’s early-stage progress, strengthened equilibrium sheet, and historical milestones successful satellite-to-phone connectivity. The company’s banal terms has appreciated astir by 114.17% since our coverage. This is due to the fact that the thesis played retired arsenic commercialized readiness improved. The thesis inactive stands arsenic ASTS continues advancing toward work activation. LongYield shares a akin presumption but emphasizes expanding commercialized agreements and increasing contracted revenue.