AST SpaceMobile, Inc.

Good day, and thank you for standing by. Welcome to the AST SpaceMobile First Quarter 2024 Business Update Call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your host today, Scott Wisniewski, Chief Strategy Officer of AST SpaceMobile. Please go ahead.

Thank you, and good afternoon, everyone. Let me refer you to slide two of the presentation, which contains our safe harbor disclaimer. During today's call, we may make certain forward-looking statements. These statements are based on current expectations and assumptions, and as a result, are subject to risks and uncertainties. Many factors could cause actual events to differ materially from the forward-looking statements on this call. For more information about these risks and uncertainties, please refer to the risk factors section of AST Space Mobile's annual report on Form 10-K for the year that ended December 31, 2023. filed with the Securities and Exchange Commission and other documents filed by AST Space Mobile, the SEC, from time to time. Also, after our initial remarks, we will be starting our Q&A section with questions submitted in advance by our shareholders. Welcome, everyone. For those of you who may be new to our company and 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. Additionally, there are billions of people without cellular broadband who remain unconnected to the global economy. The markets we are pursuing are massive, and the problem we are solving is important and touches nearly all of us. In this backdrop, ASC Space Mobile is building the first and only global cellular broadband network in space to operate directly with everyday unmodified mobile devices supported by our extensive IP and patent portfolio. It is now my pleasure to pass it over to Chairman and CEO, Abel Alon, who will go through our activities since the last public update.

Thank you, Scott. We're happy to be back again with you after six weeks since our last business update call. Our most important update to chair since our last call is the executions of our first definitive commercial agreement with AT&T. We have signed an agreement with AT&T through 2030 to provide space-based cellular broadband to AT&T and their end users through a revenue share model. This is a major milestone, and we look forward for the commercial service with Block 1 and beyond. As this specifically outlines the product and pricing models we will go to market with, we expect to replicate variations of these models in various markets around the world. While each might have slightly different features, this is the spirit in which our core customers' offerings is built upon. AT&T has been an incredible partner to us over the last few years, and we look forward to the next stage of our relationships. And in case you didn't see in the Master Gold broadcast a few weeks ago, you should check out the commercial that AT&T ran with Ben Stiller and Jordan Spitz, showing the benefit of our space-based cellular broadband technology. We're incredibly busy here in Texas as we complete our first five commercial satellites. These five Blue Bird satellites will mark the beginning of our commercial operations. All necessary parts are at our facilities and being integrated into the satellites. This includes the parts from the two suppliers, which we discussed on the last call, but have things been resolved. A micro-completion is way underway. So based on this current timeline, we want to reiterate our guidance from six weeks ago that we are on target for July or August delivery of our five Block 1 satellites to the Cape Canaveral launch path, with our orbital launch schedule shortly thereafter. Of course, launch timing is subject to many factors, including several outside of our control. But as of today, everything is moving according to the updated schedule. We will share additional progress updates as we approach the launch. With these first five satellites, we will have the ability to offer U.S. nationwide non-continuous service with over 5,600 individual cells using premium low-band spectrum. Let me spend a moment discussing our Block I satellites and the importance of their size and power. These first five satellites will be the largest commercial satellites in low-Earth orbit alongside Blue Walker III. That, combined with the processing capacity of each of them, allowed us to achieve our commercial goals with less than 100 satellites. This will enable cellular broadband everywhere for the phone you have in your pocket. Thanks to the technology we invented, and that is on the way to become the standard that mobile network operators plan to deploy. On the regulatory front, we're working closely with the FCC to secure market access approval in the United States. This will, of course, be a major milestone for us we are encouraged by the FCC's recent actions to prioritize satellite-based telecommunications, as evidenced by our re-flagging to the United States and the other new ruling-making activities. Our B-BAN application public notice period recently closed, which was a major milestone in the process. We will continue to work closely with the FCC to advance this critical approval process. Additionally, I am very excited as we continue to advance discussions with new strategic partners using commercial prepayments alongside new commercial agreements. We currently have no plans for the remainder of this year to pursue an underwritten public security offering to supplement our existing capital facilities. We also established our first government contract, one that generated more revenue for AFT in the first quarter, our first commercial revenue, and again, this represents a framework which we can utilize for future government agreements. Simultaneously, we are continuing talks with our first government customers, negotiating additional services we could potentially provide to expand our existing relationships. While the core focus of our strategy is consumer cellular broadband, we do think that the government opportunity is a natural extension of our capabilities and can be very meaningful to our company over time. In summary, we're making progress in all fronts, operationally, commercially, and regulatory. We set the foundations of enabling broadband connectivity everywhere for the funds you have in your pocket. And with that, I will pass it to Sean for the financial update.