Core Insights - NextNav has successfully completed lab and field demonstrations of its Positioning, Navigation, and Timing (PNT) solution based on Positioning Reference Signal (PRS) standards in 5G waveforms, validating its technology for commercial deployment [1][2][3] Group 1: Technology Validation - The field test in Palo Alto, California, confirmed the effectiveness of NextNav's 5G PRS-based PNT solution, showcasing precise timing synchronization and robust positioning capabilities [2] - NextNav's technology aims to provide a resilient terrestrial complement and backup to traditional GPS signals, leveraging existing 5G infrastructure [3] Group 2: Strategic Vision - NextNav's mission includes building a widescale terrestrial PNT solution that works with 5G infrastructure and device providers, moving closer to its vision outlined in a petition to the FCC [3] - The company proposed reconfiguring the Lower 900 MHz band to enable a 5G-based terrestrial 3D PNT solution, which would support both GPS resiliency and 5G broadband deployment [3] Group 3: Industry Engagement - NextNav will host discussions at Mobile World Congress Barcelona 2025 to advance the 5G-based terrestrial 3D PNT capability, engaging with industry leaders [5] - The company is positioned as a leader in next-generation PNT technologies, enabling a new ecosystem of applications and services reliant on 3D geolocation [6]

Core Insights - NextNav Inc. has appointed Renee Gregory as Vice President of Regulatory Affairs to lead the company's regulatory strategy and FCC approval process [1][2] - Ms. Gregory brings over 20 years of experience in policy and spectrum, having held significant roles in both government and private sectors, including the White House Office of Science and Technology Policy and major tech firms [2] - The company aims to enhance GPS resiliency and address national security needs through a 5G-based terrestrial 3D positioning, navigation, and timing (PNT) service [3][4] Company Overview - NextNav Inc. specializes in next-generation positioning, navigation, and timing (PNT) technologies, focusing on 3D geolocation solutions [5] - The company utilizes low-band licensed spectrum to provide accurate and reliable PNT solutions for critical infrastructure and commercial applications [5] Regulatory Strategy - Ms. Gregory's role will involve guiding the FCC's rulemaking process to ensure decisions are based on sound engineering and public safety interests [4] - NextNav has petitioned the FCC to reconfigure the Lower 900 MHz band to support the deployment of its 5G-based terrestrial PNT service [4]

Core Viewpoint - NextNav Inc. has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which significantly influences stock prices [1] Group 1: Zacks Rating System - The Zacks rating system is based solely on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [1][2] - The Zacks Rank stock-rating system classifies stocks into five groups, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7] Group 2: Earnings Estimate Revisions - Changes in a company's future earnings potential, reflected in earnings estimate revisions, are strongly correlated with near-term stock price movements [4] - For Spartacus Acquisition, the Zacks Consensus Estimate has increased by 13.2% over the past three months, indicating a positive trend in earnings outlook [8][10] Group 3: Market Implications - Rising earnings estimates and the corresponding rating upgrade for Spartacus Acquisition suggest an improvement in the company's underlying business, which could lead to higher stock prices [5] - The upgrade positions Spartacus Acquisition in the top 5% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10]

RESTON, Va., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Arun Raghupathy, co-founder and Chief Technology Officer (CTO) of NextNav Inc. (Nasdaq: NN), a leader in next generation positioning, navigation and timing (PNT) and 3D geolocation, has been recognized by the University of Maryland's Department of Electrical and Computer Engineering (ECE) as a recipient of this year's Distinguished Alumni Awards. "I'm deeply grateful to my mentors and colleagues from the University of Maryland. Their support laid the foundation ...

Financial Data and Key Metrics Changes - NextNav's revenue in Q3 2024 was $1.6 million, an increase of $0.6 million from $1.0 million in the prior year period [24] - For the nine-month period, revenue was $3.8 million, up $1.1 million from $2.7 million in 2023 [24] - Operating expenses for Q3 were $15.5 million, down approximately $0.1 million compared to the same period last year [24] - Net loss for Q3 was $13.6 million, compared to a net loss of $23.2 million in Q3 2023 [25] Business Line Data and Key Metrics Changes - The increase in revenue for both the three and nine-month periods was driven by an increase in service revenue from technology and services contracts with government and commercial customers [24] Market Data and Key Metrics Changes - The Brattle Group's analysis indicated that a 1-day global GPS outage could cost the American economy $1.6 billion, while NextNav's proposal could prevent a loss of $663 million [19] - For a 30-day outage, the loss could reach $58.2 billion, but NextNav's proposal could prevent nearly $31.9 billion of net loss [19] Company Strategy and Development Direction - NextNav is focused on advancing its strategic vision to provide a terrestrial complement and backup to GPS, addressing national security needs [8][9] - The company is engaged in ongoing discussions with stakeholders, including railroads and tolling operators, to minimize disruptions and ensure coexistence with existing licensed operations [12][13] - The company aims to leverage its unique position as the only viable wide-scale terrestrial PNT proposal [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the FCC's understanding of the urgency for a terrestrial PNT solution, highlighting the importance of their proposal for national security [9][10] - The company does not anticipate an NPRM (Notice of Proposed Rulemaking) in 2024, but is prepared for further engagement with the FCC [21][35] Other Important Information - NextNav finished the quarter with $86.8 million in cash, cash equivalents, and short-term investments, benefiting from $6.9 million in proceeds from additional warrant exercises [27] - The company is committed to a disciplined approach to capital management [27] Q&A Session Summary Question: Any updates on discussions with stakeholders like Edison Electric Institute or NTIA? - Management confirmed ongoing dialogue with over 110 stakeholders, emphasizing the importance of fact-based discussions [30] Question: Will the NTIA's recommendation for short-term experimental licenses lead to testing? - Management views the NTIA's call for testing as a helpful procedural tool to encourage engagement from incumbents [31] Question: How does NextNav view the development of resilient LEO space-based PNT? - Management agrees that a system of systems approach, including both satellite and terrestrial elements, is essential for comprehensive solutions [33] Question: What is the timeline for the NPRM and subsequent events? - Management stated that the timeline for an NPRM or report is uncertain and will depend on the FCC's actions [39] Question: What are the vulnerabilities of satellite signals compared to terrestrial networks? - Management explained that terrestrial networks provide more resilience against spoofing and jamming, which are easier to execute on weaker satellite signals [41] Question: How does the federal government use the spectrum? - Management clarified that federal use of the spectrum is primary, with military applications being a significant focus [55]

NextNav Inc. (NN) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.67%. A quarter ago, it was expected that this company would post a loss of $0.15 per share when it actually produced a loss of $0.21, delivering a surprise of -40%.Over the last four quarters, the company has surpassed conse ...

Revenue Performance - Revenue increased by $0.6 million, or 56.5%, to $1.6 million for the three months ended September 30, 2024, compared to $1.0 million for the same period in 2023[120]. - Revenue for the nine months ended September 30, 2024, was $3.8 million, an increase of $1.1 million or 41.4% from $2.7 million for the same period in 2023[127]. Customer Concentration - For the three months ended September 30, 2024, one customer accounted for 54% of total revenue, while another accounted for 32%[120]. Patent and Network Coverage - The company held approximately 161 patents related to its systems and services as of September 30, 2024[102]. - The Pinnacle network covers over 90% of commercial structures over three stories in the U.S.[104]. - TerraPoiNT is deployed and available with metro-wide service in the San Francisco Bay Area and select services in over 90 markets nationally as of September 2024[107]. Operating Expenses - Total operating expenses for the three months ended September 30, 2024, were $15,647 thousand, compared to $15,459 thousand for the same period in 2023[117]. - Selling, general and administrative expenses increased by $1.9 million, or 30.3%, to $8.0 million for the three months ended September 30, 2024, from $6.2 million for the same period in 2023[123]. - Selling, general and administrative expenses increased by $5.8 million, or 31.2%, to $24.6 million for the nine months ended September 30, 2024, from $18.7 million for the same period in 2023[132]. Research and Development - The company expects research and development costs to increase as it continues to invest in current and future products[110]. - Research and development expenses decreased by $1.5 million, or 29.2%, to $3.5 million for the three months ended September 30, 2024, from $5.0 million for the same period in 2023[122]. - Research and development expenses for the nine months ended September 30, 2024, decreased by $2.3 million, or 15.5%, to $12.3 million from $14.6 million for the same period in 2023[129]. Losses and Financial Performance - Operating loss for the three months ended September 30, 2024, was $(14,620) thousand, compared to $(13,852) thousand for the same period in 2023[117]. - The company incurred net losses of $69.6 million and $55.3 million for the nine months ended September 30, 2024, and 2023, respectively[136]. - The net loss for the nine months ended September 30, 2024 was $69.6 million, compared to a net loss of $55.3 million for the same period in 2023, representing a 25.0% increase in losses[142][143]. Cash Flow and Investments - Net cash used in operating activities for the nine months ended September 30, 2024 was $26.1 million, compared to $24.6 million for the same period in 2023, reflecting an increase of 6.1%[142][143]. - Net cash used in investing activities during the nine months ended September 30, 2024 was $17.7 million, significantly higher than $1.5 million in the same period of 2023, indicating a substantial increase in investment activities[144][145]. - Cash used for asset purchase agreements in investing activities for the nine months ended September 30, 2024 was $2.7 million, indicating ongoing investment in growth initiatives[144]. - The company experienced a net increase in operating liabilities of $7.0 million during the nine months ended September 30, 2024, which helped offset some of the cash used in operating activities[142]. Financing Activities - Net cash provided by financing activities for the nine months ended September 30, 2024 was $29.7 million, a decrease of 57.0% from $69.0 million in the same period of 2023, primarily due to reduced cash proceeds from financing[146]. - Cash proceeds from the exercise of warrants and stock options contributed to the net cash provided by financing activities in 2024[146]. Other Financial Metrics - Interest expense, net increased by $0.5 million, or 27%, to $2.2 million for the three months ended September 30, 2024, from $1.7 million for the same period in 2023[125]. - Other income was $2.5 million for the three months ended September 30, 2024, compared with other expense of $6.8 million for the same period in 2023, a change of $9.3 million[126]. - Non-cash charges for stock-based compensation during the nine months ended September 30, 2024 were $11.2 million, slightly lower than $12.6 million in the same period of 2023[142][143]. - The company reported a non-cash income of $2.2 million for the change in fair value of asset purchase agreement liability during the nine months ended September 30, 2024[142]. Market Risks - There were no material changes in market risks compared to those disclosed in the 2023 Form 10-K[148].

Exhibit 99.1 NextNav Inc. Reports Third Quarter 2024 Results The Brattle Group Analysis Finds Total Quantified Value of Having a GPS Backup is $14.6 billion NextNav Continues Engineer-to-Engineer Dialogue with Appropriate Stakeholders RESTON, VA., November 13, 2024 – NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported financial results for NextNav's third quarter ended September 30, 2024. Mariam Sorond, NextNav CEO said, "In the ...

The Brattle Group Analysis Finds Total Quantified Value of Having a GPS Backup is $14.6 billion NextNav Continues Engineer-to-Engineer Dialogue with Appropriate Stakeholders RESTON, Va., Nov. 13, 2024 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported financial results for NextNav’s third quarter ended September 30, 2024. Mariam Sorond, NextNav CEO said, “In the third quarter, we continued efforts to advance ...

Wall Street expects a year-over-year increase in earnings on higher revenues when NextNav Inc. (NN) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 1 ...