AST SpaceMobile’s 2027 Bull Case Hinges on Commercial Service

A Motley Fool contributor has named AST SpaceMobile the space stock most likely to outperform in 2027, betting that the satellite builder can turn its expanding network into a commercial service. The prediction rests on execution, not yet on a mature business producing substantial customer revenue.

AST SpaceMobile had 13 satellites in orbit after launching three BlueBird spacecraft on Aug. 5, the company said in its second-quarter update. It is targeting 45 to 60 satellites by the end of 2026, a scale it says can support continuous coverage in select markets.

The next test is whether mobile phones can connect reliably through the network in real use. AST said it was preparing beta service with selected mobile-network partners in 2026 and had activated 3,000 digital cells across the continental United States.

AT&T and Verizon are among its partners. AST says it has agreements with more than 60 mobile operators covering over 3 billion subscribers, though those relationships do not guarantee that users will adopt the service or generate revenue.

Japan offers another potential source of growth. A Rakuten and AST venture was selected for Japan’s J-LEO satellite initiative, which carries expected government support of up to about $1 billion. The company described the selection as preliminary, so the funding is not equivalent to cash already in hand.

The financial gap is still large. AST reported $31.5 million in second-quarter revenue and forecast $150 million to $200 million for 2026. It also reported more than $3.7 billion in pro forma cash, including proceeds from a July debt offering, giving it resources to keep building while revenue develops.

That cash cushion does not settle the investment case. Satellite production, launches and regulatory approvals must all stay on track, while the company needs to show that its network can serve customers beyond demonstrations and beta tests.

For ASTS shares to lead the sector in 2027, investors will likely need evidence of both a growing constellation and a path to recurring service revenue. Launch progress, commercial testing and the status of Japan’s funding will be key measures of whether the bullish forecast is taking shape.