AST SpaceMobile Stock Sinks 13% After Q1 Earnings Miss

$AST SpaceMobile (ASTS.US)$ shares tumbled more than 13% Tuesday morning after first-quarter earnings miss cooled investor sentiment. Here's what investors need to know.

What Drove AST SpaceMobile's Q1 Earnings Miss?

AST SpaceMobile reported a first-quarter loss of 66 cents per share on $14.74 million in revenue, missing consensus calls for a loss of 23 cents per share and $37.63 million in revenue. The company said revenue was driven by gateway deliveries and U.S. government milestones met, while total operating expenses were $164.1 million (including $73 million tied to depreciation and amortization and stock-based compensation).

AST SpaceMobile ended the quarter with about $3.5 billion in cash...