Shares of AST SpaceMobile, Planet Labs, and Rocket Lab rise during midday trading as investors refocus on SpaceX’s pending public listing. SpaceX filed an S-1 that targets about a $1.75 trillion valuation with revenue in the $18 billion range, prompting the market to reprice commercial space companies. SpaceX reports $11.387 billion in 2025 Connectivity revenue with $7.168 billion Segment Adjusted EBITDA, plus $4.086 billion in Space segment revenue and a $(657) million operating loss. SpaceX also reports $18.674 billion consolidated revenue and $6.584 billion Adjusted EBITDA for 2025, creating benchmarks for peers. AST SpaceMobile leads the move, reflecting its direct comparability to Starlink’s smartphone connectivity approach.
"Shares of AST SpaceMobile ( NASDAQ:ASTS) are climbing 20% in midday trading on Tuesday. Planet Labs ( NYSE:PL) is up 15%, Rocket Lab ( NASDAQ:RKLB | RKLB Price Prediction) is gaining 6%. The rally is being driven by renewed investor focus on SpaceX's pending public listing."
"SpaceX filed its S-1 last week. The document frames a roughly $1.75 trillion targeted valuation against revenue in the $18 billion range. That setup is forcing the public market to reset how it values commercial space companies as a group."
"SpaceX's S-1 disclosed that its Connectivity segment, primarily Starlink, generated $11,387 million in 2025 revenue with Segment Adjusted EBITDA of $7,168 million. That scale provides a new benchmark for satellite connectivity peers, including AST SpaceMobile. The company's Space segment generated $4,086 million in 2025 revenue with a loss from operations of $(657) million."
"AST SpaceMobile is the leader of the day, up 20% intraday following a 334% climb over the past year. The company sits in the most direct comparable category to Starlink, operating a space-based cellular broadband network that beams connectivity directly to standard smartphones."
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