Additionally, revenue came in at $31.52 million against a projected $35.18 million. Yet by this morning’s pre-market session, the stock had flipped direction, climbing more than 2%. The company also highlighted a revenue backlog nearing $1.3 billion, supported by commercial partner agreements and U.S. government contracts. After recently selling convertible notes, they now have over $3.7 billion in cash, cash equivalents, and restricted cash. ASTS stock’s dip after earnings and quick recovery offer a classic opportunity for long-term growth investors.