AST SpaceMobile (ASTS) said Wednesday it has won a new contract award from the US Space Development Agency valued at around $43 million to continue work on a space-based cellular communications network in low-Earth orbit.
The new contract builds on a preliminary contract award disclosed by AST SpaceMobile in February 2024 that it received through an unnamed prime contractor working with the federal government, and follows recent testing of its BlueWalker-3 network, the company said.
The Space Development Agency is expected to accelerate delivery of military satellites and supporting hardware for its Proliferated Warfighter Space Architecture, which will use AST SpaceMobile's next generation Block 2 BlueBird satellites, the company said.
AST SpaceMobile shares were trading nearly 17% higher in recent Wednesday trading.
Price: 30.94, Change: +4.77, Percent Change: +18.23
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