Company Overview - NextNav Inc. (NASDAQ:NN) is a leader in next-generation positioning, navigation, and timing (PNT), focusing on 3D geolocation and PNT technology [4] Financial Results Announcement - NextNav will release its financial results for the first quarter ended March 31, 2025, before market open on May 9, 2025 [1] - A conference call to discuss the results will be held on the same day at 9:00 AM ET [1] Conference Call Registration - Registration for the conference call can be completed via a designated website [2] - Participants will receive call details and a registrant ID after registering [2] Webcast Access - The conference call will be available via a live webcast, and a replay will be accessible until May 16, 2025 [3] - Participants can register for replay details to receive access codes [3]

RESTON, Va., April 14, 2025 (GLOBE NEWSWIRE) -- NextNav (Nasdaq: NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, today announced that it will release its financial results for the first quarter ended March 31, 2025 after the market closes on Wednesday, May 7, 2025, and will host a conference call on the same day at 5:00 PM ET to discuss its results. Registration for the conference call can be completed by visiting the following website prior to, or on the day of, t ...

RESTON, Va., March 27, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (the "Company" or “NextNav”) [NASDAQ: NN], a leader in next-generation positioning, navigation, and timing (“PNT”) and 3D geolocation, today announced the successful closing of the previously announced private placement of $190 million of 5% redeemable senior secured convertible notes due 2028 (“the Private Placement”). The net proceeds from the Private Placement were approximately $188.6 million after deducting certain fees and expenses (the “Net ...

Financial Performance - Revenue increased by $1.8 million, or 46.8%, to $5.7 million for the year ended December 31, 2024, compared to $3.9 million for the year ended December 31, 2023[223]. - The net loss for the year ended December 31, 2024, was $101.9 million, compared to a net loss of $71.7 million for the year ended December 31, 2023[221]. - Net losses for 2024 were $101.9 million, compared to $71.7 million in 2023, reflecting ongoing financial challenges[231]. - Cash and cash equivalents and marketable securities totaled $80.1 million as of December 31, 2024, with an accumulated deficit of $862.1 million[231]. - Net cash used in operating activities was $38.0 million in 2024, up from $35.4 million in 2023, driven by increased net losses and non-cash charges[236][237]. - Net cash provided by financing activities was $35.1 million in 2024, down from $69.0 million in 2023, reflecting changes in capital raising activities[240]. Expenses - Cost of Goods Sold (COGS) decreased by $2.0 million, or 15.4%, to $10.8 million for the year ended December 31, 2024, from $12.7 million for the year ended December 31, 2023[224]. - Research and development expenses decreased by $3.3 million, or 16.7%, to $16.2 million for the year ended December 31, 2024, from $19.5 million for the year ended December 31, 2023[226]. - Selling, general and administrative expenses increased to $33.5 million for the year ended December 31, 2024, compared to $30.3 million for the year ended December 31, 2023[221]. - Selling, general and administrative expenses increased by $3.2 million, or 10.5%, to $33.5 million in 2024 from $30.3 million in 2023[227]. - Depreciation and amortization expenses rose by $0.4 million, or 8.6%, to $5.2 million in 2024 from $4.8 million in 2023, primarily due to new network assets placed in service[228]. - Interest expense, net of interest income, increased by $5.7 million, or 156.6%, to $9.4 million in 2024 from $3.7 million in 2023, attributed to senior secured notes issued in 2023[229]. - Other expenses surged by $27.9 million, or 645.4%, to $32.2 million in 2024 compared to $4.3 million in 2023, mainly due to changes in the fair value of warrants[230]. Assets and Liabilities - Accounts receivable as of December 31, 2024, was $3.3 million, up from $2.3 million as of December 31, 2023[223]. - The company reported long-term debt of $54.6 million with a fixed interest rate of 10% per annum[258]. - As of December 31, 2024, the company had cash and cash equivalents and short-term marketable securities totaling $80.1 million[257]. Market Position and Strategy - The company has been granted more than 145 patents related to its systems and services, enhancing its competitive position in the market[208]. - The company signed an agreement to acquire an additional 4 MHz of M-LMS licenses, subject to regulatory approvals, to expand its spectrum assets[208]. - The Pinnacle solution covers over 90% of commercial structures over three stories in the U.S., primarily used for public safety applications[211]. - TerraPoiNT received the highest scores in testing by the Department of Transportation regarding potential PNT backup solutions[212]. Future Outlook - The company expects to incur additional losses and higher operating expenses in the foreseeable future as it invests in research and development and expands its PNT networks[231]. - The company will maintain its status as an emerging growth company until at least December 31, 2025, unless certain revenue or debt thresholds are met[256]. Risk Management - The company believes that inflation and supply chain challenges have not significantly impacted its revenue and cost of services to date[260]. - The company has minimal credit risk associated with cash and cash equivalents, as it deposits funds with financially sound institutions[259]. - A hypothetical 10% change in interest rates would not materially impact the company's consolidated financial statements[257]. - The company invests excess cash in U.S. government and agency bonds, and money market funds to minimize banking risk[259]. - The company’s exposure to market risk primarily relates to cash and investments in marketable securities[257]. - The company has not experienced significant fluctuations in the fair value of its investments due to the short-term nature of these instruments[257].

New Investment Led by M-Cor Capital, LLC and Fortress Investment Group Existing 10% Senior Secured Notes to be Redeemed RESTON, Va., March 12, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (the "Company" or “NextNav”) [NASDAQ: NN], a leader in next-generation positioning, navigation, and timing (“PNT”) and 3D geolocation, today announced it had entered into a purchase agreement for the sale of $190 million of 5% redeemable senior secured convertible notes (the “New Notes”). The New Notes will mature on June 30, 202 ...

Financial Performance - Revenue for Q4 2024 was $1.9 million, up 58.3% from $1.2 million in Q4 2023; total revenue for the year was $5.7 million, a 46.2% increase from $3.9 million in 2023[6] - Operating loss for Q4 2024 was $14.8 million, improved from a loss of $19.9 million in Q4 2023; total operating loss for the year was $60.1 million, compared to $63.5 million in 2023[12] - Net loss for Q4 2024 was $32.3 million, including a $14.9 million loss on the change in fair value of warrants; net loss for the year was $101.9 million, up from $71.7 million in 2023[12] - Net loss for the year ended December 31, 2024, was $101,879 thousand, compared to a net loss of $71,735 thousand in 2023, representing an increase of 42%[21] - Net cash used in operating activities was $38,008 thousand in 2024, slightly higher than $35,440 thousand in 2023, indicating a 7% increase in cash outflow[21] Cash and Assets - Cash and cash equivalents as of December 31, 2024, were $39.3 million, down from $81.9 million in 2023; total assets decreased slightly to $161.7 million from $162.2 million[17] - Cash and cash equivalents at the end of the period decreased to $39,330 thousand from $81,878 thousand, reflecting a decline of 52%[21] - Net cash provided by financing activities was $35,103 thousand in 2024, down from $68,984 thousand in 2023, a decrease of 49%[21] - The company had a net cash outflow from investing activities of $39,467 thousand in 2024, contrasting with a net cash inflow of $1,074 thousand in 2023[21] Liabilities and Expenses - NextNav's total liabilities increased to $111.6 million as of December 31, 2024, compared to $82.1 million in 2023[17] - The company recorded a significant change in the fair value of warrant liability, increasing to $33,177 thousand in 2024 from $4,101 thousand in 2023[21] - Capital expenditures included in accrued expenses and other current liabilities were $78 thousand, down from $285 thousand in 2023, a decrease of 73%[21] - The depreciation and amortization expense rose to $5,238 thousand in 2024 from $4,821 thousand in 2023, an increase of 9%[21] Strategic Initiatives - The company completed lab and field demonstrations of its 5G PRS-based PNT solution, validating its effectiveness for commercial deployment[5] - NextNav's strategic roadmap includes advancing its NextGen solution and building an over-the-air demonstration network for 5G-based terrestrial 3D PNT[5] - The company has engaged in regulatory efforts with the FCC to establish a GPS complement and backup, highlighting national security needs[4] - A recent poll indicated overwhelming bipartisan support for a GPS backup, emphasizing its importance for public safety and national security[6] Leadership Changes - The company appointed Renee Gregory as VP of Regulatory Affairs to lead FCC approval and compliance efforts, bringing over 20 years of experience[6] Market Performance - The company reported a realized and unrealized loss on marketable securities of $888 thousand in 2024, compared to a loss of $546 thousand in 2023[21] - Proceeds from the exercise of common stock options increased to $3,787 thousand in 2024 from $73 thousand in 2023, a substantial increase of 5,000%[21]

Core Insights - NextNav Inc. has made significant advancements in establishing a terrestrial complement and backup to GPS, focusing on regulatory efforts and stakeholder engagement [2][3] - The company successfully completed lab and field demonstrations of its 5G PRS-based PNT solution, validating its effectiveness for commercial deployment [4][6] - A recent poll indicated strong bipartisan support for GPS backup solutions, highlighting public safety and national security concerns [6] Financial Highlights - For Q4 2024, NextNav reported revenue of $1.9 million, up from $1.2 million in Q4 2023, driven by increased service revenue from government and commercial contracts [5] - Total revenue for the year ended December 31, 2024, was $5.7 million, compared to $3.9 million in 2023, reflecting a growth in service contracts [5] - The operating loss for Q4 2024 was $14.8 million, an improvement from a loss of $19.9 million in Q4 2023, while the annual operating loss decreased to $60.1 million from $63.5 million [13][18] Balance Sheet Overview - As of December 31, 2024, NextNav had $80.1 million in cash and short-term investments, with total liabilities amounting to $111.6 million [13][16] - The company reported a significant increase in accounts payable and accrued expenses, indicating higher operational costs [16] Operational Developments - NextNav is actively working on its NextGen solution and has entered agreements to build a 5G-based terrestrial 3D PNT demonstration network [4] - The company has appointed Renee Gregory as VP of Regulatory Affairs to lead FCC approval efforts, bringing over 20 years of experience [6]

Core Viewpoint - A recent national Public Policy Polling survey indicates strong voter support for the establishment of a ground-based backup to the Global Positioning System (GPS), with a ten-to-one margin favoring the initiative across various demographics [1][2]. Voter Support and Demographics - The survey reveals that nearly 70% (68%) of voters consider the creation of a GPS backup an urgent national security need, with only 12% opposing this view [3]. - Support for a terrestrial GPS backup is widespread, transcending gender, political party, and age demographics, highlighting a significant bipartisan consensus [2]. Public Safety and National Security - A total of 83% of voters find the argument for a GPS backup convincing in terms of enhancing public safety, particularly for first responders [6]. - Additionally, 82% of respondents believe that a GPS backup is essential for safeguarding American commerce and national security [6]. Global Competition and Economic Impact - The poll shows that 81% of voters agree that a GPS backup is necessary for the U.S. to remain competitive with China [6]. - Economic implications are significant, with 81% of voters acknowledging that a GPS outage could cost the economy approximately $1.6 billion per day [6]. Company Overview - NextNav Inc. is recognized as a leader in next-generation positioning, navigation, and timing (PNT) technologies, providing reliable 3D geolocation solutions for critical infrastructure and commercial applications [4].

Core Viewpoint - NextNav is set to release its financial results for Q4 and the full year ended December 31, 2024, on March 12, 2025, after market close, followed by a conference call to discuss the results [1]. Company Overview - NextNav Inc. is a leader in next-generation positioning, navigation, and timing (PNT), focusing on 3D geolocation and PNT technology [4]. - The company utilizes low-band licensed spectrum to provide accurate, reliable, and resilient 3D PNT solutions for critical infrastructure, GPS resiliency, and commercial applications [4]. Conference Call Details - Registration for the conference call can be completed via a designated website, and participants will receive call details and a registrant ID [2]. - The conference call will also be available through a live webcast, with a replay accessible until March 19, 2025 [3].

RESTON, Va., Feb. 28, 2025 (GLOBE NEWSWIRE) -- NextNav (NASDAQ:NN) has submitted a comprehensive study to the Federal Communications Commission (FCC) confirming that 5G operations can successfully coexist with unlicensed devices in the Lower 900 MHz band. The study provides a real-world deployment comparison and in-depth technical assessments that find coexistence is feasible and replacement of legacy operations in the band with 5G would not cause unacceptable interference to Part 15 devices. "From the outs ...