AST SpaceMobile, Inc.

Good day, and thank you for standing by. Welcome to the ASD SpaceMobile first quarter 2025 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, president of ASD SpaceMobile. Please go ahead.

Thank you, and good afternoon, everyone. Today, I'm also joined by chairman and CEO, Abel Avalon, and CFO and chief legal officer, Andy Johnson. 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 risks factors section of AST Space Mobile's annual report on Form 10-K for the year that ended December 31st, 2024 with the Securities and Exchange Commission and other documents filed by AST Space Mobile with the SEC from time to time. Also, after our initial remarks, we will be starting our Q&A section with questions submitted by our shareholders. 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 and 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, 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. It's now my pleasure to pass over to Chairman and CEO Abel Avalon, who will give us an update on our activities since our last public call two months ago.

Thank you, Scott. The first quarter was a strong start for us, and we're currently at an incredible inflection point for the company. We start to accelerate the launch and scaling of our network, and revenue is starting to come in. We continue executing on satellite manufacturing, commercialization, regulatory initiatives, and today we are unbilling our orbital launch plan with five scheduled launches over the next six to nine months. I will touch on each of those key pieces in more detail. Let me start by discussing our orbital launch schedule. We expect to deploy over 60 satellites during 2025 and 2026, which will drive continuous coverage in key markets such as the United States, Europe, Japan, the U.S. government, and other strategic markets. We anticipate five orbital launches occurring over the next six to nine months, with orbital launches occurring every one to two months on average, during 25 and 26. Our campaign will begin with the treatment of our first Block II Blue Bird satellites in Q2. We launch a schedule during July, Simply put, speed to orbit means speed to commercial service. Scaling our constellation is critical to delivering on the global opportunity of providing space-based cellular connectivity to the modified phone in your pocket today. Satellite manufacturing remains on track. Accelerating our target of building 40 Block II Bluebird satellites, each the largest ever commercial communications satellite in lower orbit alongside contracted satellites, orbital launches for every 60 satellites as of today. We have accelerated our manufacturing efforts in order to move at the rapid speed to reach our goals. Scaling our satellite manufacturing will enable us to march or exceed the launch cadence necessary to build out our space-based cellular network for continuous cellular broadband coverage, beginning with the key markets mentioned earlier. In doing so, we're also on track to reach manufacturing cadence of six satellites per month during the fourth quarter of this year. We also expect to reach an equivalent manufacturing cadence for our microns and phase array production during the third quarter of this year. We expect to achieve this cadence through our expanded global footprint, streamlined process, and 95% vertical integration strategy. Our content manufacturing house or through third parties using own intellectual property help drive speed, certainty, lower cost, flexibility, and reliability. Specifically, the production of our microns, or main building blocks for our satellites, are fully vertically integrated within our manufacturing ecosystem. This is an extremely important process which has helped right-size our lines of production and has enabled us to operate with complete control over the entire micron production process. Now that our solid manufacturing cadence and accelerated production efforts support our launch schedule, we're now more confident than ever in our position to continue executing at scale as we lead the industry with cellular broadband from space. On the ASIC front, our novel ASIC chip are currently undergoing assembly and testing stages, while the validation and qualification stages are nearly in completion. We expect our ASIC chip will become available for satellite integration as early as June of this year. As you will recall, our custom ASIC chip will support up to 10 GHz in processing bandwidth per satellite, or 10 times the processing compared to our current FPGAs. We pick data at a speed of up to 120 megabits per cell, supporting many thousands of cells per satellite, which is a key enabler of the first and only space-based broadband cellular system, together with the largest ever commercial communication satellites in low-dead orbit. On the commercial front, we continue to integrate our services with our MNO partners. Recently, our long-time partner Rakuten Mobile completed a two-way broadband video call in front of a live audience enabled by Block One Satellites Over Japan. The call was conducted using modified smartphones as part of our initial activation in the country, and followed with successful video calls with partners like AT&T, Verizon, and Vodafone in the United States and Europe, respectively. The live activation is another example of our ability to successfully enable full cellular broadband capabilities, including voice, text, data, video, and other native cellular capabilities. Japan is a country defined by its diverse geography, prone to national disasters. Being able to provide cellular broadband service direct to device over the country, mountains, regions, remote islands, and densely populated cities during routine and emergency situations are transformational applications for our groundbreaking technology. I am proud of our company's long history of strategic partnership with Rakuten. I am excited for our continued progress in the country. Globally, we plan to activate initial cellular broadband capabilities in the United States, Europe, and Japan on premium low-band wireless spectrum, together with partners AT&T, Google, Rakuten, Verizon, and Vodafone, as well as other players in the wireless ecosystem. This is an important step for initial service activation. Enabling activation across several key markets in the U.S., all with varying geographic and demographic factors, provide us the opportunity to optimize our network ahead of a full commercial deployment. We also receive a special temporary authority from the FCC for first-name direct-to-device satellite connectivity on public safety band 14 spectrum. The SEC grants direct-to-device cellular broadband connectivity in support of mission-critical capabilities. With over 7 million public safety connections, FirstNet Network gives responders the critical connectivity they need across diverse geographies. Our groundbreaking technology stands to provide first responders with reliable and consistent space-based cellular broadband connectivity during crucial times of need. On the government business, we continue to expand our U.S. government opportunity and our ramping up activity against our $43 million contract in support of the United States Space Development Agency. Even more recently, we signed a new contract award with another government agency through a prime contractor to provide support of communications over land, sea, and air. Scott will speak more to our new contract award momentarily. But this contract award highlights AST SpaceMobile's innovative technology to back critical government missions across various use cases, both for communications and noncommunications applications. In addition to advancing commercial and government efforts, we're working closely with regulators and government officials who recognize that our technology is going to make our country both more connected and more secure. In summary, all key elements of our business are progressing as expected or have accelerated to meet the customer demand for our groundbreaking technology. The first quarter was a period of strong execution, serving as a springboard into another pivotal charter of the company's life. We have now reached an inflection point as we scale fundamental aspects of our business toward full-scale commercialization. With our launch plan outlined, launch capacity secure, and commercial and government partnerships coming together, we expect positive momentum to compound at record speed for our months and quarters to come. Connectivity is a human right, and each step in this process is a reminder of the important mission at hand. Let me now turn the call to Scott to provide more details on our progress and initiatives.