AST SpaceMobile, Inc. (ASTS) experienced a significant intraday plummet of 7.52% on Tuesday, reflecting continued negative sentiment in the trading session.

The sharp decline follows the company's deeply disappointing first-quarter earnings report, which revealed revenue of $14.73 million dramatically missing Wall Street's expectation of approximately $39 million by over 60%. The per-share loss came in at $0.66, far worse than the $0.24 loss analysts had projected.

Total operating expenses surged to $164.1 million, driven by significant increases in engineering services and administrative costs, while the net loss widened to $191 million from $45.7 million a year earlier. Despite maintaining full-year revenue guidance, the stock remains under selling pressure as investors weigh the substantial gap between first-quarter results and annual targets.