AST SpaceMobile: I'm Buying Before The 2027 Breakout

ASTS has fallen approximately 45% since my last coverage, prompting me to initiate a new position ahead of 2027. Japan's approximately $1 billion subsidy could finance satellites serving global customers, potentially improving AST's long-term capital efficiency. AST's $1.3 billion remaining performance obligations exclude variable carrier revenues, while management targets nearly $1 billion in post-launch opportunities.