The company delivered $1.2 million in Q2 revenue, which was a 28% year-over-year increase. However, sales won't stay that "low" for long. AST SpaceMobile mentioned in its Q2 press release that it remains on track to generate between $50 million and $75 million in revenue in the second half of 2025. AST SpaceMobile will serve government and commercial customers during this stretch. It has also formed partnerships with more than 50 mobile network operators globally while receiving additional U.S. government contract awards. The company has a healthy $1.5 billion in cash, cash equivalents and restricted cash on its balance sheet. Interestingly, AST SpaceMobile got some of that cash by issuing $575 million in seven-year convertible senior notes, with a 2.375% coupon and effective conversion price of $120.12 per share of Class A common stock. The stock would have to almost triple in seven years to reach the $120.12 conversion price, indicating bullishness among long-term investors.