Space Stock Showdown: Is AST SpaceMobile or Planet Labs Worth Your Money Right Now?

With SpaceX set to go public soon and countries investing heavily in space as a national security priority, the space industry is reaching an inflection point. According to McKinsey estimates, the space economy could grow to $1.8 trillion by 2035.

Beyond SpaceX, two unique space stocks investors are watching are AST Mobile Space (NASDAQ: ASTS) and Planet Laboratories (NYSE: PL). Both companies operate in different verticals of the space economy and are attractive stocks for investors looking to capitalize on this growth, but one stands out as a better buy today.

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AST SpaceMobile is building a cellular broadband network accessible via standard, unmodified smartphones, using its massive array of satellites as ground-based space towers. Partners with mobile network operators, including AT&T, Verizon Communicationsand Vodafoneand share revenue with carriers offering add-on space-based plans to subscribers. On top of that, the company generates revenue through government contracts for tactical communications.

With more than 200 satellites, Planet Labs operates the largest fleet of Earth imaging satellites in the world and captures high-resolution images of the planet every day. The company serves clients in the government sector, including defense and intelligence, the agricultural sector for crop health monitoring, and organizations involved in disaster response. Its daily images create a historical archive of the Earth, which it plans to improve with analysis and artificial intelligence.

Both companies are in the early stages of commercialization. AST SpaceMobile is deploying its BlueBird satellites and has launched six to date, with the seventh scheduled for launch in April. The company has an aggressive 2026 goal of launching between 45 and 60 satellites into orbit, needed to provide continued commercial service in its initial target markets in the US, Japan and Europe.

It is still in its capital-intensive construction phase. In February, AST raised $3.9 billion, including $1 billion in convertible senior notes and direct equity offerings. This gives it liquidity to launch its satellites, but dilutes shareholders in the process. Also in February, the HALO Europe program was awarded a $30 million prime contract by the U.S. Space Development Agency to provide direct-to-device tactical satellite communications.

Planet Labs has hundreds of satellites in orbit and is a little further along in generating revenue and expanding its business. It’s more mature, generating revenue of $308 million last year compared to AST’s $71 million, and closer to profitability. In March, the company announced a collaboration with NVIDIA to build a GPU-native AI engine, changing it from a simple imaging provider to a real-time planetary intelligence platform.

AST SpaceMobile has a lot of work ahead of it to get its satellites into orbit and provide continuous coverage. Getting there will require about $1.2 billion in capital, which the company has secured, but it needs to accelerate its pace of launch to reach its year-end goal.

On the other hand, Planet Labs is more advanced, with hundreds of active satellites, and is expanding its platform to leverage AI for deeper insights. For these reasons, Planet Labs is a better buy today.

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Courtney Carlsen has no position in any of the stocks mentioned. The Motley Fool has posts and recommends AST SpaceMobile and Planet Labs PBC. The Motley Fool recommends Verizon Communications and Vodafone Group Public. The Motley Fool has a disclosure policy.

Space Stock Showdown: Is AST SpaceMobile or Planet Labs Worth Your Money Right Now? was originally published by The Motley Fool