Former Boingo exec Peterson boards AST as CTO. Long time Boingo Wireless executive Derek Peterson (pictured) revealed on LinkedIn he has joined AST SpaceMobile as CTO, Enterprise & Platforms while also leading the satellite player's CIO and CSO functions. Peterson was at Boingo Wireless for 15 years, most recently as CTO Emeritus and strategic advisor after serving as CTO, CIO, COO, CSO and CPO at the wireless company for over 14 years. In his new role at AST, he will lead enterprise IT, platforms, infrastructure, corporate networks and cybersecurity, including the CIO and CSO functions, and building the US software team while driving Wi-Fi and OpenRoaming integration. "Connecting a regular phone straight to a satellite is the piece that completes the convergence picture," he stated on LinkedIn. "I've spent my career chasing seamless connectivity, and I'm excited to join an innovative team that's building it from space AST SpaceMobile previously projected 45 to 60 of its next-generation satellites would launch this year for its direct-to-device service but is now targeting having approximately 45 in orbit by early 2027. The delay was revealed in a Securities and Exchange Commission regulatory filing tied to a $1 billion notes offering and followed a serious setback to one of its two main launch partners.

AST SpaceMobile shares rose 4% to $42.24 in early trading after the company said its carrier partners, Europe's four largest, signed a letter of intent to explore a joint bid for mobile satellite services spectrum. The letter carries no financial terms and is not a commercial agreement, so it adds no signed revenue yet. Through its joint venture, Satellite Connect Europe, AST provides European ground infrastructure linking its BlueBird satellites to the carriers' networks. Rocket Lab rose 2% and SpaceX gained 0.9%. The Procure Space ETF rose 1%. AST has 13 BlueBird satellites in orbit and targets about 45 by early 2027. Its second-quarter revenue of $31.52 million missed expectations. It confirmed 2026 revenue guidance of $150 million to $200 million.

AST SpaceMobile shares fell 8.41% to $47.13 in regular trading on October 13, after Piper Sandler downgraded the satellite-to-phone network developer from Overweight to Neutral. The bank cut its price target to $54 from $98, a drop of about 44.9%. The downgrade renews questions about how fast satellite deployment can become revenue. In the June quarter, the company reported revenue of $31.5 million, driven by gateway deliveries and government milestones, against $119.1 million in adjusted operating expenses, about 3.8 times sales. Cash, cash equivalents and restricted cash totalled about $2.7 billion at June 30. Restricted cash is not freely available, and adjusted operating expenses are not the same as cash burn. Investors are watching satellites entering service, commercial partner milestones, and continuing service revenue.