AST SpaceMobile, Inc. (ASTS) saw its stock plummet 5.11% in pre-market trading on Tuesday, following the company's mixed fourth-quarter results and negative market reaction. The wireless telecommunications services provider reported a wider-than-expected loss per share for the quarter ended December 31, missing analyst expectations.

The company reported a quarterly adjusted loss of $0.18 per share, higher than the same quarter last year when it reported a loss of $0.35 per share. Analysts had expected a loss of $0.17 per share for the quarter. Additionally, AST SpaceMobile's revenue of $1.92 million fell significantly short of analysts' estimates of $19.2 million.

The mixed results and disappointing revenue figures appear to have sparked a negative market reaction, with the stock declining 5.5% in the aftermath of the earnings release. Despite the company's progress in commercialization efforts, including a new joint venture, investors seem to have focused on the weaker-than-expected financial performance.