# Who are AST SpaceMobile's customers? Who does AST SpaceMobile earn revenue from?
Canonical: https://valuechain.wiki/ast-spacemobile · Facet: customers · Updated: 2026-09-11T12:41:31.650543+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: AST SpaceMobile discloses no named confirmed revenue counterparties; 2 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 2 revenue edges, backed by 4 dated sources, 1 of them primary filings (as of 2026-09-11).

### 통신사·정부 (D2C·SDA) (high)
- metric: Revenue ~$71M · 2025 · 2025 revenue
- note: Supplies D2C satellite comms to ~60 carriers (AT&T, Verizon, Vodafone) and the SDA (2025 revenue $70.9M); AT&T and Verizon, as strategic investors, provide their cellular spectrum — anchor customers and capital partners.
- [confirms] FinancialContent (EN, research, published 2026-04-03) https://markets.financialcontent.com/stocks/article/finterra-2026-4-3-the-orbital-cellular-revolution-a-deep-dive-into-ast-spacemobile-nasdaq-asts: "Deals with ~60 operators covering 3B subscribers."
- [confirms] SEC EDGAR (EN, filing, published 2025-11-10) https://www.sec.gov/Archives/edgar/data/0001780312/000119312525274360/asts-ex99_1.htm: "Deals with ~60 operators covering 3B subscribers."
- [confirms] Via Satellite (EN, news, published 2025-10-08) https://www.satellitetoday.com/connectivity/2025/10/08/verizon-deepens-ast-spacemobile-ties-with-commercial-agreement/: "Verizon signed a commercial agreement to offer AST SpaceMobile's direct-to-cell service, extending its 850 MHz premium low-band via space-based broadband, building on a 2024 $100M strategic investment and targeting a 2026 launch."
- [confirms] Cosmos Times (KO, news, published 2024-08-06) https://www.cosmostimes.net/news/article.html?no=24422: "AST has signed agreements with more than 45 mobile network operators covering 2.8 billion subscribers, and uses the cellular spectrum of investors AT&T and Verizon to deliver broadband directly to standard smartphones."

### 버라이즌 (high)  → /verizon.md
- metric: Amount $35M · investment agreed 2024-05-23 · Principal amount of the AST SpaceMobile subordinated convertible note purchased by Verizon Ventures
- note: AST SpaceMobile agreed to issue a $35 million subordinated convertible note to Verizon Ventures. The remaining $65 million of the announced $100 million package consists of commercial prepayments creditable against future service revenue and is excluded from the investment metric.
- [mentions] Meritz Securities Research Center (KO, research, published 2024-09-12) https://home.imeritz.com/include/resource/research/WorkFlow/20240911171440008K_02.pdf: "News of Verizon's planned $100 million investment drove AST SpaceMobile shares sharply higher."
- [confirms] SEC EDGAR (EN, filing, published 2024-05-29) https://www.sec.gov/Archives/edgar/data/1780312/000149315224021726/form8-k.htm: "a subordinated convertible note to Verizon for an aggregate principal amount of $35.0 million"

### 유럽·일본 통신 (D2C 확장) (mid)
- note: Expands D2C coverage with UK, Japan and Canada carriers (service targeted early 2026) — the path to a subscriber base beyond the US.
- [confirms] FinancialContent (EN, research, published 2026-04-03) https://markets.financialcontent.com/stocks/article/finterra-2026-4-3-the-orbital-cellular-revolution-a-deep-dive-into-ast-spacemobile-nasdaq-asts: "UK/Japan/Canada service in Q1 2026."

Reverse side: https://valuechain.wiki/ast-spacemobile/suppliers.md · Ripple: https://valuechain.wiki/ast-spacemobile/ripple.md

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Full node: https://valuechain.wiki/ast-spacemobile.md · JSON: https://valuechain.wiki/ast-spacemobile.json