AST SpaceMobile, Inc.

Good day and thank you for standing by. Welcome to the AST SpaceMobile third 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 AST 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 Risk Factors section of AST Space Mobile's annual report on Form 10-K for the year that ended December 31, 2024, Form 10-Q filed with the SEC on May 12, 2025, Form 10-Q filed with the SEC on August 11, 2025, and the Form 10-Q filed with the SEC today, as well as other documents filed by AST Space Mobile from time to time. Also, after our initial remarks, we'll 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 nearly 6 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 from the global economy. The markets we are pursuing here 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 is now my pleasure to pass the conversation over to Chairman and CEO Abel Avalon, who will go through our activities since our last public update.

Thank you, Scott. AST SpaceMobile delivers standout progress in the third quarter as we continue seizing the advantages of our leadership position in the space-based direct-to-device industry. We are executing against all of our key initiatives in this rapidly developing market, and especially on deepening our commercial ecosystem with customer partners over the past few months. We continue to build commercial momentum, most recently highlighted by our definitive agreements with Verizon and Saudi Telecom Group. Scott will discuss our business progress in more detail, but I want to highlight the traction we are achieving with our commercial initiatives. We signed a definitive commercial agreement with Verizon in the United States and STC in Saudi Arabia, and other key markets across the Middle East and North Africa. These definitive commercial agreements demonstrate the meaningful progress in our commercial ecosystem, which include agreements with over 50 MNO partners with nearly 3 billion subscribers globally. These agreements are the product of our trusted, long-standing relationship with both partners and their confidence in our ability to deliver space-based cellular broadband connectivity to their subscribers. Our definitive commercial agreement with Verizon is an extension of our transformational partnership which has been cultivated over several years, including the $100 million commitment in May of last year. The agreement also provides us with a formal commercial pathway to provide direct-to-device cellular broadband services to their customers starting in 2026. Our opportunity to bridge the digital divide and target 100% coverage of the continental United States has never been stronger. Together, we partner AT&T in premium 850 MHz low-band spectrum. Our definitive agreement with HTC provides us with a long-term partner in a key region with a large geographical area, significant population growth, and a strong need for broadband connectivity. More broadly, our 10-year long-term agreement is a promising look into how HT Space Mobile can collaboratively shape the future of direct-to-device mobile connectivity as we continue to grow our mobile network operator-partner ecosystem. Our direct-to-device satellite technology enables native cellular broadband capabilities directly to modify mobile devices, including voice, text, data, video, and full Internet access to native cellular apps. As an example of our native cellular capability, we recently completed a Bluebird satellite-enabled technology milestone with Verizon. completing direct voice and video calls, as well as two-way RCS messaging between standard and modified smartphones. This follows additional milestones with Bell Canada in anticipation for a broader commercial rollout. Specifically, we showcased Canada's first successful space-based direct-to-sale voice-over LTE call, video call, and other broadband data and video streaming activations. We believe Canada will represent another attractive market for our direct-to-device cellular broadband service. Space-based cellular broadband connectivity is an industry that we invented. And a recent technology milestone with Verizon and Bell follows several breakthroughs using our direct-to-device technology, including the first-ever 4G and 5G voice calls, voice over LTE calls, live video calls, streaming, full Internet access, and tactical non-terrestrial network connectivity for military and defense purposes, from space to modified smartphones. Our direct-to-device cellular broadband network will help our partners deliver on one of their highest priorities, which is extending connectivity for their customers as part of our effort to deliver on those priorities. We are advancing partners and ecosystem network integration as we progress towards service activation in key partner markets. Specifically, we have already begun activation in fixed network locations. We expect to continue scaled deployment effort early next year as we progress activation of an intermittent nationwide service by early 2026 and prepare for continued services later in 2026. Taking a step back, STP Mobile has now built the largest and most diverse commercial partner ecosystem in the industry. Our network includes agreements and understanding with over 50 MNO partners with nearly 3 billion subscribers globally. We have access to some of the most important markets covered and exposure to billions of subscribers, as well as long-term access to valuable spectrum. Our key strategy during 2025 has been to deepen this partner ecosystem through definitive commercial agreements. Today, we're happy to disclose for our first time that we have secured over $1 billion in total contracted revenue commitment from our commercial partners. This represents an incredible snapshot into how our business is developing. And not only to the commitments of our partner have to AST Space Mobile, but also the way they are starting to think about financial impact of this massive opportunity. Turning to manufacturing and launch, our manufacturing efforts are on track with our goals and expectations. Blue Bear 8 to 19 are in various stages of production, and we are on schedule to complete 40 satellites equivalent of Michael's by early 2026, bringing us to Blue Bear 46. Leveraging our 95% vertically integrated manufacturing, we continue to accelerate and improve our manufacturing process and expect to exit calendar 2025 at a manufacturing cadence of six satellites per month. A detailed cadence of our 2025 and 2026 deployment plan is shown in the accompanying quarterly presentation found on our IR website. These efforts are supported by our steady expanding manufacturing footprint, soon to be over half a million square feet of manufacturing, and operations space supported by a global workforce of nearly 1,800 people. We had shipped Bluebird 6 to his launch site in India, with launch expected to occur in the first half of December. We also expect to chip Bluebird 7 to Cape Canaveral later this month with launch anticipated shortly thereafter. Additionally, we continue to expect five orbital launches by the end of Q1 2026 with launches every one to two months on average to reach our goal of 45 to 60 satellites launched by the end of 2026. Additionally, we anticipate our novel ASIC chip will be integrated into our Block 2 Bluebird satellite during Q1 2026, enabling peak data transmission speed of up to 120 megabits per second, which is a throughput larger enough to achieve the native cellular capabilities that customers are used to having, even when they are in areas unconnected by terrestrial networks. On our comprehensive global spectrum strategy, since our last earning call, we closed our deal to acquire global S-band spectrum priority rights and our deal to acquire long-term access to premium lower mid-band L-band spectrum in the U.S. That has been approved by the court. AST SpaceMobile own and share spectrum profiles, including access to 1,150 megahertz of low-band and mid-band tunable MNO spectrum globally. 45 megahertz of IST space mobile license MSS lower mid-band spectrum, 60 megahertz of IST space mobile license S-band spectrum priority right, and low-band spectrum allocated by our MNO partners. Between our own and mobile network operator partner spectrum, we have right to access over 80 megahertz of pair and high-quality spectrum in United States alone, more than any other direct-to-device provider today and in the future. We have developed our comprehensive Spectrum strategy by balancing cost and a disciplined capital allocation. By making a smart and cost-effective investment in Spectrum, we are able to preserve the value of our Spectrum assets while protecting the long-term viability of our business. This robust portfolio of Spectrum creates a durable competitive advantage for SDSPACE Mobile. Spectrum enabled us to provide more lanes for direct-to-device cellular broadband services at a faster speed and a greater capacity. And lastly, we strengthened our financial footing significantly in the last few months, reaching over $3.2 billion in cash and liquidity as of quarter end pro forma for our recent financial transaction and available liquidity under the ATM facility. We continue to fortify our capital base in a responsible way, while building long-term shareholder value. As a result of our funding effort, we are now funded from cash on hand to enable continued service in worldwide key strategic markets. In summary, our manufacturing and launch activities are on plan, and our commercial activities are accelerating. We anticipate an active manufacturing and launch cadence for the remaining of 2025 through 2026 as we progress towards our stated goal of 45 to 60 satellites for continuous service coverage in key markets like the United States, Europe, Japan, Saudi Arabia, and other key strategic markets like the U.S. government. We're advancing our commercial activities on the ground. Installing gateways, integrating them into partner networks, and completing key technology demonstrations around the world as we scale our constellation. We have built moats around multiple aspects of our business, including our extensive IP portfolio with approximately 3,800 patent and patent pending claims, satellite technology, partner ecosystem, comprehensive global spectrum strategy, and a strong capital base. I could not be more excited for what's come as we continue to run commercial activity going into 2026. Let me now turn the call over to Scott to provide more detail on our progress and initiatives.