Hello, and welcome to the AST SpaceMobile business update for the second quarter of 2021. As a reminder, this conference is being recorded. It is my pleasure now to introduce the company's Executive Vice President and Chief Strategy Officer, Scott Wisniewski. Thank you. Scott, you may begin. Thank you, and good morning, everyone. Let me refer you to slide two of the presentation, which contains our safe harbor disclaimer. During today's call, we may make certain forward-looking statements. These statements are based on current expectations and assumptions, and as a result, are subject to risks and uncertainties. Many factors could cause actual events to differ materially from the forward-looking statements made on this call. For more information about these risks and uncertainties, please refer to the Risk Factors section of AST SpaceMobile's Form S-1, filed in June with the Securities and Exchange Commission, as well as Form 10-Q for the second quarter of 2021 and other documents filed by AST SpaceMobile with the SEC from time to time. Readers are cautioned not to put undue reliance on forward-looking statements, and the company specifically disclaims any obligation to update the forward-looking statements that may be discussed during this call. With that, I'd like to introduce Chairman and CEO, Abel Avellan, and Chief Financial Officer, Tom Severson, to the call. Abel, over to you. Thank you, Scott. I'm really excited to be here to provide you, our shareholders, and our broader community an update on our progress. This is our first quarterly update and a really special milestone for us as a public company. Many of you know, AST SpaceMobile is my life, and our team could not be more fully committed to our mission. We work day and night to deliver on it. Space-based solutions are increasingly becoming more important and part of everyday life. It is our belief that the best and most relevant solution for the long term will be the one using the phone that you already have in your pocket. Users will not incur an additional cost for a specialized phone or satellite equipment. There are already more than 5 billion mobile phones. Over 600 million people are without any cellular coverage, and approximately half of the world population is without cellular broadband. As we talk today, we will try to remind you of some of the highlights of our company plan and strategy, we also plan to talk about our second quarter financials. I thought I would start first with an update on our business execution, which I focus every day. Starting on page four, our strategy breaks down into three parts: industrialization, commercial, and organizational. Industrialization we divide into BlueWalker 3 efforts, which will mark the conclusion of our development phase, and then BlueBird 1. Commercial, we split into two parts. Getting market access in countries where we want to operate and signing agreements and MOU with mobile network operators for access to their subscribers. Organizational, for us, is about getting the right people in place for execution. Starting with BlueWalker 3, we expect to launch in March 2022 from Cape Canaveral. BlueWalker 3 is our next prototype spacecraft with 693 sq ft phased array. Changed launch service provided to SpaceX in order to increase certainty of launch timing and simplicity, delivery of transportation to our launch site. The successful launch and test of BlueWalker 3 will mark the conclusion of our first development phase and the commencement of our production phase. Into BlueBird 1. BlueBird 1 is our production spacecraft, which we expect to be the largest communication phased array ever deployed into space. Over the second quarter, we continued to make progress in finalizing the design of BlueBird 1, as well as making investment in our Midland, Texas facilities and global supplier development. Once at full rate, we anticipate that our Midland facilities will be able to produce up to six spacecraft per month. On commercial, we continue to have a broad-based discussion with mobile network operators and regulators globally, both directly and through our partners. We recently signed new MOUs with Smart Communications, Africell, MUNI, UTL Mobile, LIBTELCO, and others. As a result, we had increased the subscriber count with mobile network operators under MOU from 1.5 billion up to from 1.3 billion at the end of the first quarter. While it's still early, we have regulatory approval granted in six countries to date, which total a population of over 360 million. In terms of organizational progress, our hiring plan continue in order to support a scaled spacecraft production. In the second quarter alone, we grew by 62 employees across all our offices, significantly enhancing our in-house engineering, manufacturing, procurement, and corporate activities. This brings our team to 452, including 261 full-time employees, 49 full-time contractors, and 144 working at third-party engineering services dedicated to AST SpaceMobile. We also opened our office in the U.K. We had employees there for some time, but we felt now was a good time to open an office, and that will support our business development, engineering, and regulatory functions. Thank you. With that, back to you, Scott. Great. Thank you, Abel. Over the next couple of minutes, I wanted to briefly frame the opportunity and solution that AST SpaceMobile is working towards and link back to what we are working on now to the launch of BlueWalker 3. Some of this may be a little repetitive, but as our audience continues to grow, we want to ground our first quarterly update in the fundamentals. Turning to slide six. I'll start with our market opportunity and what we're planning for. The wireless services market has over $1 trillion in annual revenue. That comprises all of our monthly service payments for the phone in our pocket. This is a market that is evolving dynamically, that experiences the same strong demand drivers that you see across telecom, and this is an industry that wrestles with issues around coverage, reach, and rural connectivity. Some of the numbers we think that are relevant to understanding where a service like ours would fit are first, 5.2 billion unique cellular subscribers. These are people with mobile devices who are paying mobile network operators and move in and out of coverage as they live, work, and travel. This is a big number, and keep in mind that 1.2 billion of these subscribers are not even using broadband today. Another key number is the 3.8 billion people who do not have cellular broadband service. Half of the world's population. As you unpack this number, there are a lot of reasons for what's called the usage gap across age, gender, or income. Notably, it includes over 600 million people who fall into what's called the coverage gap. They simply are not in range of cellular broadband. Intuitively, we know that the Earth is big, and coverage gets increasingly harder with tougher unit economics for terrestrial networks as you go to lower and lower population densities. That is one of the reasons you are seeing governments pressing policies with universal coverage requirements and often attaching subsidy programs as well. We look at the state of play in cellular broadband, and we see a huge installed base of users and unmet needs. Flipping to slide seven. It's with this context that we are so excited about SpaceMobile. Simply put, we are building the first and only space-based cellular broadband network. This means that there's no terminal or satellite dish to buy, no modifications to the phone in your pocket. You'll be able to just connect directly to our network. For those less familiar with solving global telecom network pinch points, bypassing this need for an expensive extra device is very special because it changes the unit economics when a user considers adopting the new service. And once you have put aside a several hundred dollar purchase requirement for the user or subsidy by the network provider, you can start thinking more about offering service at lower price points and expanding the potential user base. We think SpaceMobile is a very compelling solution to this evolving imperfect networks that we just talked through. This need sits against a user base that is hungry for coverage and bandwidth and now pays for connectivity prioritized above most other household needs. Looking to the topic of competition, we believe the nature of SpaceMobile service is differentiated relative to any other existing or planned service offering. This differentiation is backed by over 1,200 patent and patent pending claims, as well as our first-mover advantage. As the telecom ecosystem continues to evolve, macro cell towers, small cell towers, fixed wireless, Wi-Fi hotspots, fiber to the home, satellite fixed broadband, satellite backhaul, these are all great solutions for users as well and will help fill a tremendous market need. They will not be able to match the type of service we believe we can offer. Another element of the competitive mode here is that building a global business is hard, which is why we are not doing it alone, but alongside really incredible partners. Partners that have made investments and contributed important development and commercial relationships. Partners who are the leaders in the industry and significant innovators. These are Vodafone, Rakuten, and American Tower to name a few. Shifting to the commercial side of the business, our go-to-market strategy is pretty simple. We plan to build and organize our network and service offering so that it looks and feels like a cellular service, and we partner with mobile network operators to deliver that service to their existing subscribers. In terms of user experience, we believe in reducing friction to the absolute minimum, which should also serve to speed adoption. Satellite networks today have the capability to program text messages that will offer a SpaceMobile service that can be turned on with a one simple "Yes" text message response, offered at precisely the time when our service is needed. Our mobile network operator relationships are very important. They are at the core of our technology solution and the scalability of our business. They offer a built-in subscriber customer base ready to be turned on. As we sign more agreements and collaborations, we will provide updates, but to date, we have MOUs with almost 20 different MNOs who cumulatively have 1.5 billion subscribers. Overall, we believe we have a revolutionary technology matched with an elegant commercial approach. Moving to slide eight. What's next? A couple of weeks ago, we announced our expected March launch for BlueWalker 3 with SpaceX out of Cape Canaveral, and we are thrilled to be launching from our own backyard. As a refresher, our tech satellite, BlueWalker 1, launched in 2019, was used to validate our network architecture and was capable of managing the effects of Doppler and communication delays from low Earth orbit using 4G LTE protocol. Building on this, now BlueWalker 3 is planned to demonstrate the SpaceMobile end-to-end system design, communicating directly with cell phones via 3GPP standard frequencies. This spacecraft is notable as it features one of the largest phased arrays ever deployed in space, measuring 693 sq ft, or about the size of a studio apartment. The size here is a key attribute in order to generate the power and signal strength required to communicate with a relatively small and low-powered mobile phone hundreds of miles away. Overall, manufacturing, assembly, and testing continue to progress, and we believe we're on target for a March timeframe. With over 75% of planned project CapEx incurred to date, including non-recurring engineering expense. We will provide more details as we get closer to launch date, but to give you a sense of what happens after launch, there are a couple elements of the spacecraft test plan. Immediately following launch, we will be doing some health and wellness checks, including orbital placement, deployment, and basic connectivity. In the months following launch, we will be doing full system testing in Texas, Hawaii, and other locations globally. Ultimately, the goal of BlueWalker 3 is to configure ground equipment to ensure SpaceMobile's production spacecrafts will be able to interconnect with mobile network operators for backhaul and with unmodified 4G and 5G mobile phones. Moving to slide nine, before I hand it off to Tom, I want to leave you with a few key points of differentiation for AST SpaceMobile and put it into a broader context. With lots of investments flowing into space tech, we think that shows the importance of space-based solutions for telecom networks. AST SpaceMobile is the only pure play for public investors in LEO broadband. We are also playing in a very large market with a solution that is applicable to over 5 billion mobile phones and a related $1 trillion TAM. We are jointly going to market with industry giants, and we are not competing with them. We have a revenue share business model designed to allow users to sign up with a simple text message, and we have approximately $400 million cash to fund business operations and the first phase of production spacecraft. With that, it is my pleasure to hand off to Tom. Thank you, Scott. First, I too would like to welcome everyone to our second quarter business update, which is our first conference call as a public company. On April 6th, we closed our business combination with New Providence Acquisition Corp. and started trading on Nasdaq under the ticker ASTS. The transaction provided $416.9 million in net proceeds, which will be used to fund the operations of the business and to construct our first phase production satellites. As of June 30th, 2021, we ended the quarter with $402.6 million of cash on hand, and the company is currently debt-free. The proceeds from the transactions were derived from cash in the New Providence trust account, and also through the sale of a $230 million PIPE financing. In addition to new investors, the PIPE financing was supported by our pre-transaction investors, including Rakuten, Vodafone, American Tower, and Cisneros. This transaction was extremely important to the company, as it eliminated the funding risk associated with the delivery and proof of our space-based cellular technology, and also provided capital for the first phase of our production satellites. With a public currency, we are well-positioned to raise the additional capital required to complete the SpaceMobile constellation of 168 satellites. I'd now like to turn over the financial highlights for the second quarter and give some color on our ongoing operational initiatives and trends we expect to see as we look forward into the second half of 2021 and into 2022. Cash operating expenses, including engineering services, R&D, and G&A, increased from $11.5 million for the first quarter of 2021 to $24.5 million for the second quarter of 2021, a sequential quarterly increase of $13 million. This increase was primarily due to R&D expenses, which were $9.1 million for the second quarter of 2021, compared to $300,000 for the first quarter of 2021. During the second quarter, we aggressively engaged with our third-party technology partners and ramped up our efforts relating to long lead time engineering work items in order to meet our constellation timing goals. I would expect third-party R&D expenses to continue through the remainder of 2021 and 2022, as we seek to complete and optimize the electronic design of our production satellites. In addition, Q2 G&A increased to $9.2 million from $5.5 million in the prior quarter, as we incurred expenses relating to becoming a public company, including D&O insurance, legal, corporate staff, and other related expenses. Engineering services increased to $6.3 million for the second quarter of 2021, compared to $5.7 million for the first quarter of 2021. We expect engineering-related expenses to continue to grow as we add additional engineering staff and also ramp up our team responsible for satellite assembly, integration, and testing, which we refer to as AIT, at our facility in Midland, Texas. We are currently in the process of industrializing our AIT process in order to meet our full-scale production requirements. In terms of our engineering and AIT employees and full-time consultants, total headcount grew from 156 at the end of Q1 to 193 at the end of Q2. We expect this to grow approximately to 300 by the end of 2022 as we ramp our AIT capabilities. In terms of our CapEx, to date, we have invested $51.7 million in the construction of the BW3 satellite, and we expect to incur an additional $14 million-$16 million to bring the project to completion. A significant portion of the total project cost of BW3 is non-recurring development and also includes satellite componentry and launch costs. Total investments in our property, plant, and equipment were $15.7 million through the end of the second quarter, and we're happy to report that phase 1 of our AIT facility in Midland, Texas, is substantially complete, and we are currently in the process of assembly, integration, and testing of the BlueWalker 3 satellite, which we plan to have ready to launch in March of next year. As we prepare to move into full-scale production, we will continue to expand our AIT capabilities in a manner that will support our production and launch timing goals. Finally, as it relates to our CapEx spending, we are engaged in the procurement process for our first phase production satellites, and we expect these investments to begin to ramp up as we close 2021 through 2022 and through the first half of 2023. We still reaffirm our cost estimates to build and launch the first 20 satellites, with each satellite in the $13 million-$15 million range. For the constellation of 168 satellites, our average cost per satellite is currently expected to be in the $10 million-$11.5 million range. As we move further into the procurement process and close our production satellite design, we remain confident with respect to the execution of our plan, the cost of our plan, and our ability to deliver our technology. With that, operator, let's open the call for questions. As a reminder, to ask a question, you will need to press star one on your telephone. Again, if you would like to ask question, press star one on your telephone. We'll pause for just a moment to compile a Q&A roster. For our first question, we have Chris Quilty from Quilty Analytics. Chris, your line's open. Thanks. First question for Tom. Since I didn't hear you make any changes in the CapEx profile, I'm assuming there was no material cost increase from switching over from Soyuz to SpaceX or to SpaceX's easy. That's right, Chris. Nothing material. We obviously had to do some engineering changes, which we did. In terms of the total cost for BlueWalker 3, you see we have $12 million-$14 million to go, and we're 75% complete. Great. Just around that actual event, are you still planning on doing a rideshare launch? If you can remind us, is that going to be an equatorial launch or an inclined orbit? Does it matter for your testing purposes? What's the availability, if it's a rideshare for both of those types of orbit insertions? Hey, Chris. I'll start. We are not the primary payload, but we feel comfortable with the window that we've been provided and the number of launches that SpaceX plans to do that we're pretty protected. That was one of the motivating factors for going with them, is increased timing certainty. We feel good about that, even though we're not the primary payload. In terms of the orbit, Abel, you want to jump in? Yeah, it's a 400 km orbit, and it's an inclined orbit that is well-representative of what we want to take with BlueWalker 3. The 400 km orbit, which is lower than the planned operational altitude, presumably that calculation was made based upon smaller antenna size to simulate what it would be with a larger antenna from a higher altitude? Yeah. Well, basically, the difference between 400 km and 700 km doesn't change the capability to connect directly to the handset. Basically, what it changes the time that you have available for testing. Both satellites, BlueWalker 3 and BlueWalker 1, being designed to connect directly to the handset, broadband speeds. We can achieve that in a range of 400 km to 700 km of altitude. Great. Abel, while I have you, I guess, congrats on the recent MOUs and regulatory approvals. I guess the elephant in the room is the FCC. Can you just give us an update of where you stand in the process of your regulatory waiver and expectations on when we might see some progress milestones? Yeah. Well, just as a reminder, we get to service in the U.S. later after the equatorial countries. The FCC actually approved our application and is subject to comments around November. We're expecting to hear from them about the next step after that commentary period in November. Our application is actually in process with the FCC. I know there were some issues around your intended altitude and the NASA A-Train. Can you give us an update on that situation? Well, actually, NASA officially communicated through the FCC that they will not oppose our application. We have built a working relationship with them. We had agreed to share the position of our satellites with them and we anticipate a long-term relationship with NASA with regards of the operation of our satellites. That issue was completely resolved many months ago. Great. Global chip shortage, clearly you're not in production mode now, but as you look at your supply chain and suppliers, do you anticipate any issues, critical parts or components or chips that you're currently looking to source? Yeah. For BlueWalker 3, we don't. We have all parts on hand. We're actually in the final stage for integration and testing of BlueWalker 3. All the electronic parts, actually, we purchased approximately a year ago. For BlueBird 1 and for the constellation, we had a plan where we are developing our own ASICs. We also are procuring in advance long lead items, in preparation for the production of the BlueBird 1s, the production satellites. It's an issue that we are monitoring very closely. At this moment, we feel that we can manage it by basically procuring long lead items in advance. Great. I guess a final question, the projected cost now on BlueWalker 3, substantially more than what you expect production units to be, and understandably, a significant portion of that is probably NRE that I assume is applicable to the BlueBirds also. Beyond that, when you look at the projected cost of BlueWalker 3 and compare it to production satellites, is the cost reduction driven primarily around volume, or are there other elements that get you to your targeted price? BlueWalker 3 is heavily loaded in NRE, basically some experimental satellite where we went through a development phase to get to the design that we have now. We will know the cost of BlueWalker 3, and we had a very close estimation for BlueBird 1 simply because of the construction of BlueWalker 3. There are some advantages, and for some part, in some cases significant, that has to do with volume. The transition from FPGAs to ASICs is one of them. The solar panels that we're using for the production satellites are much more cost-effective than the one that we're using for BlueWalker 3. As I said at the beginning of this conference, we were focusing very hard on industrializing the process, to target the cost of BlueWalker 3 at the prices that we have. We had a lot of confidence on the bill of material, on the design, basically, and we are in the last stage with BlueWalker 3. One thing that I always want to remind people when they think about our satellites, our satellites are modular. They are built with identical parts that use as much as possible equipment or technology that is also used on the ground in order to lever consumer electronic pricing for components. We are a fully vertically integrated design, where we pretty much manufacture or design or buy in volume all the components and the electronics of our system. We have our own electronic system, we have our own solar panel system, we have our own reaction wheels that we produce in mass in order to make the cost that we're anticipating for BlueBird 1. Actually, that brings up a separate question. I think in the script you mentioned a targeted production capacity of six satellites per month. I guess the question, given the size of the global constellation, is that production rate intended through sort of the first phase of equatorial, and you would ramp production from there, or do you consider that the full rate production that you'll target for the full time? That is our production capacity till 2023. We will continue to increase it, but before we run, we need to walk. We had an 85,000 sq ft facility in Midland. We will be expanding that to support the six satellites per month. That roughly would allow us, provided that availability of launches is available, allow us to launch 15-18 satellites a quarter, with the production capacity that we're designing. In order to achieve that, we're working in a fully modular system for the satellites. All satellites are pretty much identical. We follow manufacturing process closer to automotive rather than space in order to be able to produce this number of satellites in the timeframe that we set to do, which is roughly allowing us to launch between 15 and 18 satellites every quarter. Great. Thank you. For our next question, we have Bryan Kraft from Deutsche Bank. Bryan, your line is open. Thanks. Good afternoon. Abel, as you know, there is some skepticism out there among some in the satellite industry regarding the viability of your satellite design, namely around the size of the array. Can you just help us understand why those skeptics are wrong and the confidence you have at this point in the efficacy of the design and the engineering, including an assessment, if you don't mind, of where maybe you're still kind of figuring it out versus what you think you already have figured out at this point? Thank you. Yeah. The satellite industry, in general, have been a very conservative industry, pretty much doing the same for over decades. It just recently, companies like ourselves, SpaceX, and others, are just starting to change the mold of how to build hardware for space. I would say our design is completely different than any other previous design of spacecrafts before. That's the reason why we have around 1,200 patents and patent claims in order to support our design. Thermally, mechanically, in term of weight, and the ability to produce enough power and gain to connect directly to handsets, it is a new design compared to what the industry has been doing. What we can say, we have tested the viability to connect directly to a handset with our first test satellites. That was the whole purpose of that satellite, something that we have reviewed extensively, with our wireless partners, Vodafone, Rakuten, American Tower. BlueWalker 3 will be roughly 693 sq ft phased array. That is part of what makes it tricks to connect directly to a handset. It will be one of the largest phased arrays to be deployed. We have spent over a year and a half testing that deployment on the ground, to get confident that it will deploy, and the support to that technology. At this point, we're very confident in the viability and the feasibility of the technology. That is basically a novel approach to build satellites modularly in order to be able to produce enough power and gain to connect on a broadband speed directly to handsets. The reason why nobody else has done that before, somebody needed to break the code. We did it, and we are basically closing the development phase with the launch of BlueWalker 3 and starting to move into the phase of industrialization, which is basically being able to produce these satellites. Even though they are multi-ton, they are large, we produce them fast and at the rate of six per month. Thanks, Abel. If I could ask one follow-up. Will there be any test launches of BlueBird 1 to just sort of test the whole design in a space environment to see that it unfolds correctly and you can deploy it into orbit without any issues before you launch many satellites at once, in case there are any modifications that need to be made after the first one? Will you be going right into commercial launch, where you are launching multiple commercial deployments in one launch? I hope that came across okay, but I am just trying to understand. Yeah How much risk you're kind of putting on the first tranche? No, that's a great question. Our plan is, well, obviously launch BlueWalker 3 in March. There is a way for us to launch up to 18 satellites in a single launcher, or four in a smaller launcher with the same vehicle. We will not be doing that. We will launch BlueWalker 3. By the end of 2022, our plan is to launch a handful of BlueBird 1s, for which we're purchasing all the long lead items and parts that we would require to do that. Pending launch availability and other things that we need to line up, will be to launch 15 -1 8 in Q1, Q2 2023. We will now go with the capability that we're anticipating for launches to take on our satellite, which is up to 18, at the first launch. BlueWalker 3, one satellite, then few in 2022, and then at that point, we hope to be able to launch between 15 and 18 per launch. Thank you very much. We don't have any further questions at this time. That concludes today's conference call. Thank you all for participating. You may now disconnect.