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| Statement |
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| So, we are very happy, we're encouraged by that |
| We're very encouraged about that |
| We're very happy |
| In September, we accomplished another unprecedented leap in space-based cellular broadband by successfully making the first ever 5G connection for voice and data between, and every day we modified a smartphone and a satellite in space |
| We're pleased to report great progress on the manufacturing of our first five commercial satellites at our facilities in Midland, Texas, where in advanced stages of the production of key subsystems of the satellites and have a high level of vertical integration over the full process |
| This is another great capability that we've brought in-house alongside the vertical integration that Abel discussed earlier |
| The ASIC is expected to give us a 10 times improvement in processing bandwidth of 1 gigahertz to 10 gigahertz of available spectrum per suite, while reducing the power and consumption, and cost of these satellites |
| Together with our strategic investors, current strategic investors, we had achieved significant progress in around the world in getting this system regulated and to be variable to be used and we solve a big problem |
| We are now giving and defining the satellite to device industry, which is rapidly becoming 1 of the most exciting innovations in the mobile phone industry in the last 50 years |
| So yes, we're very proud of being mentioned and be part of presidential strategies for spectrum, which is basically and expect use to support a system that we invented and where we are the only one that can provide broadband connectivity directly to regular devices |
| This clear need that we are meeting is a key part of how we have been able to develop a strong wireless operator, partners over time |
| Since that time, AST continued to achieve a series of accomplishments and make progress towards the goal of building the AST SpaceMobile Constellation |
| We're proud to have MOUs an agreement with over 40 of the largest mobile network operators around the world |
| This flexibility provides us comfort that we can manage our liquidity profile dynamically depending on our rate of raising capital |
| This caps a highly successful testing program that include 2G, 4G, and 5G, with participation from partners, Vodafone, AT&T, Rakuten, and Nokia, validating AST SpaceMobile's satellite-design patented technology and manufacturing strategy |
| On a positive note, a good portion of the increase in cost was a result of a potential customer requesting a change in the inclination of the orbit so that our constellation could provide better coverage for their subscriber base |
| The testing was completed with our partners, Vodafone, AT&T, and Nokia, chairing our collective success |
| This pace mobile network is the only space-based network design for cellular broadband, and we will be able to efficiently cover unconnected areas of the country to bring 5G connectivity to everyone |
| These capabilities a very unique in the industry and will allow us to run the manufacturing capacity of six satellites per month and 72 satellites per year |
| Being vertically integrated is very important for us as it allows us to maintain the unprecedented cost per unit delivered for our satellites with the power and capability to deliver broadband directly to everyday smartphones |
| We have shown the ability to achieve 5G data rates as well 4G and 2G |
| And that has given us all the learnings and all the required heritage in order to be able to integrate effectively and cost effectively all part of our new build of satellites |
| An exciting and tangible part of this advancement is watching our assembly integration and testing facility in Midland begin its production activity with dozens of technicians and engineers as well as highly specialized processes all contributed to the production of 5 BB1-1s for the targeted launch next year |
| Our IP portfolio continues to grow, now accounting to over 3,100 patents and patent-pending claims, over 30 patent families over 25 U.S |
| In this backdrop, AST Space Mobile is building the first and only global cellular broadband network in space to operate directly with everyday unmodified mobile devices and supported by our extensive IP and patent portfolio |
| Overall, we're encouraged by where we are in this process, I hope to be able to share more at any time during November or December |
| So, we are super encouraged by having a presidential notice where the first item, it is basically a system that replicates what we have invented |
| So, we're very encouraged where we are right now, and we look forward to more details during November and December |
| Before I provide an update on our manufacturing progress, I want to take a minute to highlight the strength of our intellectual property on Page 10 |
| Since our last earnings call, the AST SpaceMobile team completed more groundbreaking test results, utilizing BlueWalker 3, made significant progress towards the expected launch of the 5 BB1 satellites and continue to focus on raising capital to fund the AST SpaceMobile Constellation |
| Statement |
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| We don't give guidance on that, but it will be significantly lower than what we've seen in the last two quarters |
| And right before we ship the satellite to keep Cape Canaveral, we actually had to go back to California testing, which, of course, is inefficient and introduced extra time to our schedule |
| This is a hard problem, which has a lot of different elements for success |
| Our ability to mass-produce them is essential to the lost cost of our satellites |
| So, we're not surprised by this |
| So yes, that caught our eyes |
| Timing of the changes in our adjusted operating expenditures and capital expenditures, as I have just described, could be delayed or may not be realized to a variety of factors |
| We expect the number to come materially down from there |
| Our research and development expenses fell this quarter as a result of reduced expenditures associated with our ASIC chip design as we continue to get closer to the completion of that work |
| So, we're not surprised by it |
| The markets we are pursuing are massive, and the problem we are solving is important and touches nearly all of us |
| For those of you who may be new to our company and our mission, there are over 5 billion mobile phones in use today around the world, but many of us still experience gaps in coverage as we live, work, and travel |
| Many factors could cause actual events to differ materially from the forward-looking statements on this call |
| Additionally, there are billions of people without cellular broadband who remain unconnected to the global economy |
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