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AST SpaceMobile (NasdaqGS:ASTS) has secured a defense contract with the U.S. Space Development Agency under the Europa Track 2 program.
The company has also partnered with Orange to pursue direct to cell satellite connectivity services in Europe.
AST SpaceMobile focuses on building a space based cellular broadband network designed to connect standard mobile phones directly to satellites. For you as an investor, these new agreements touch two important areas: government communications and European mobile connectivity, both closely watched parts of the satellite telecom sector.
The defense contract and the Orange partnership widen the range of potential use cases for AST SpaceMobile’s technology across both public and commercial markets. As these projects progress, investors will likely pay attention to how the company executes technically and operationally, and how these relationships may influence its future revenue mix and capital needs.
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NasdaqGS:ASTS Earnings & Revenue Growth as at Mar 2026
The Europa Track 2 contract and the Orange partnership pull AST SpaceMobile in two important directions at once: defense and commercial. The roughly US$30 million agreement with the U.S. Space Development Agency gives AST a concrete funded project to showcase its BlueBird constellation for low latency, tactical communications using existing military radios. For you, that is useful because it ties the technology to a paying customer segment that often values resiliency and redundancy. On the commercial side, Orange adds another large European carrier alongside names like Vodafone, and positions AST in a field where companies such as SpaceX’s Starlink and Iridium are also targeting connectivity gaps, although with different architectures and business models.
The SDA contract and Orange collaboration both speak directly to the narrative’s focus on turning mobile operator agreements and federal contracts into usage based service revenue, by broadening AST’s pipeline across government and telecom customers.
The capital intensive ramp to a larger BlueBird constellation is a key concern in the narrative, and these projects could test whether AST can execute technically and financially without adding further strain to quarterly cash burn.
The Europa Track 2 defense use case, with data delivered as a service to the agency, adds a government focused layer that is not fully reflected in the mobile operator centric narrative and may create a different mix of margins, contract terms and renewal risks.
Story Continues
Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for AST SpaceMobile to help decide what it’s worth to you.
⚠️ The company still faces a highly volatile share price over the past 3 months compared to the US market, so contract news may not translate into a smooth ride for equity holders.
⚠️ Shareholders have been diluted in the past year and there has been significant insider selling over the past 3 months, which can raise questions about funding needs and alignment just as AST scales up new projects.
🎁 Analysts have identified that the stock is trading at around 24% below their estimate of fair value, which may interest investors who think defense and telecom deals can support the long term rollout.
🎁 Earnings are forecast to grow strongly according to analyst expectations, and the addition of a defense contract plus a new European operator partnership expands the set of potential revenue drivers if execution stays on track.
From here, the key thing to watch is whether AST hits its technical milestones for the Europa Track 2 demonstrations, especially seamless integration with existing military radios and low latency performance. On the Orange side, investors will likely focus on the Romania trials planned for late 2026, including service quality and how quickly the partnership could scale beyond tests and into paying users. It may also be worth tracking how these agreements interact with AST’s satellite deployment schedule and quarterly cash usage, as well as how competitors such as Starlink, Iridium and other direct to device players shape their own government and carrier relationships.
To ensure you’re always in the loop on how the latest news impacts the investment narrative for AST SpaceMobile, head to the community page for AST SpaceMobile to never miss an update on the top community narratives.
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Companies discussed in this article include ASTS.
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