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Core Viewpoint - NextNav is seeking to reconfigure the Lower 900 MHz band to enable a terrestrial 3D positioning, navigation, and timing (PNT) network that complements GPS and frees up 15 MHz of spectrum for 5G broadband [2][4]. Group 1: FCC Involvement - The Federal Communications Commission (FCC) has released a public notice requesting comments on NextNav's spectrum solution in the Lower 900 MHz band, with comments due by September 5, 2024, and reply comments by September 20, 2024 [3]. - NextNav filed a rulemaking petition on April 16, 2024, to open proceedings for the reconfiguration of the Lower 900 MHz band [2]. Group 2: Company Strategy and Benefits - NextNav's CEO emphasized the importance of providing a backup to GPS for critical services such as location mapping, emergency caller location, and national security needs [3]. - The reconfiguration of the band is expected to create additional spectrum for wireless technology, benefiting consumers and national interests without incurring costs to taxpayers [3]. Group 3: Current Position and Expertise - NextNav is the primary geographic licensee in the Lower 900 MHz band and has developed industry-leading PNT expertise and products using its existing licenses [4]. - The current underutilization of the band is attributed to legacy band plans and rules, which the proposed reconfiguration aims to address [4]. Group 4: Company Overview - NextNav Inc. is a leader in next-generation positioning, navigation, and timing (PNT), providing accurate and reliable 3D PNT solutions for various applications [5].

Core Insights - NextNav is a leader in next generation positioning, navigation, timing (PNT), and 3D geolocation technology [2] - The company will participate in the Oppenheimer 27th Annual Virtual Technology, Internet & Communications Conference on August 13, 2024 [1] Company Overview - NextNav provides accurate, reliable, and resilient 3D PNT solutions powered by low-band licensed spectrum [2] - The technology supports critical infrastructure, GPS resiliency, and various commercial applications [2] Event Participation - CEO Mariam Sorond and CFO Chris Gates will present at 8:15am ET and engage in one-on-one meetings during the conference [1] - A live webcast of the presentation will be available on the NextNav investor relations website [4]

Company Overview - NextNav Inc. is a leader in next generation positioning, navigation, and timing (PNT) technology, focusing on 3D geolocation solutions [3] - The company utilizes low-band licensed spectrum to provide accurate and reliable PNT solutions for critical infrastructure and commercial applications [3] Upcoming Events - NextNav's CEO Mariam Sorond and CFO Chris Gates will participate in the Oppenheimer 27th Annual Virtual Technology, Internet & Communications Conference on August 13, 2024, presenting at 8:15am ET [1] - A live webcast of the presentation will be available on the NextNav investor relations website [2]

Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://registrations.events/direct/Q4I6293666000. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast. About NextNav Inc. Source: NN-FIN RESTON, Va., July 22, 2024 (GLOBE NEWSWIRE) -- NextNav (Nas ...

Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://registrations.events/direct/Q4I6293666000. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast. A replay of the call can also be accessed via phone through August 14, 2024, by dialing (800) ...

Core Insights - NextNav has appointed Jonathan A. Marcus to its Board of Directors, effective May 16, 2024, enhancing its leadership team with his extensive expertise in financial capital markets and corporate finance [1][2][3] Company Overview - NextNav Inc. is a leader in next-generation positioning, navigation, and timing (PNT) technologies, focusing on 3D geolocation and PNT solutions that are critical for infrastructure and GPS resiliency [4] Leadership and Expertise - Jonathan A. Marcus brings a wealth of experience, having served as CEO of Alimco Financial Corp. and held significant roles in investment banking and financial advisory at Prudential-Bache Securities and Credit Suisse First Boston [2][3] - His previous positions include being the Chief Investment Officer of Cypress Management and co-founder of Broadbill Partners, which focused on special situations and distressed securities [2] Strategic Vision - The appointment of Mr. Marcus is seen as a strategic move to support NextNav's vision of complementing and backing up GPS while also leveraging spectrum for broadband applications [2][3]

Core Insights - NextNav has appointed Jonathan A. Marcus to its Board of Directors, effective May 16, 2024, enhancing its leadership team with his extensive experience in financial capital markets and corporate finance [1][2][3] Company Overview - NextNav Inc. is a leader in next-generation positioning, navigation, and timing (PNT) technologies, focusing on 3D geolocation and PNT solutions that are critical for infrastructure and commercial applications [4] Leadership and Expertise - Jonathan A. Marcus brings a wealth of experience, having served as CEO of Alimco Financial Corp. and held various roles in investment banking and financial advisory, including positions at Prudential-Bache Securities and Credit Suisse First Boston [2][3] - His background includes founding and managing Broadbill Partners, L.P., which focused on special situations and distressed securities [2] Strategic Vision - The appointment of Mr. Marcus is seen as a strategic move to support NextNav's vision of complementing and backing up GPS while also leveraging spectrum for broadband applications [2][3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-40985 NextNav Inc. (Exact name of registrant as specified in its charter) | Delaware | 87-0854654 | | --- | --- | | (State or ...

[NextNav Inc. First Quarter 2024 Financial Results](index=1&type=section&id=NextNav%20Inc.%20First%20Quarter%202024%20Financial%20Results) [Operational and Financial Highlights](index=1&type=section&id=Operational%20and%20Financial%20Highlights) NextNav reported Q1 2024 results, marked by strategic progress with an FCC rulemaking petition for the Lower 900 MHz band, alongside revenue growth to **$1.0 million**, an operating loss of **$16.2 million**, and a net loss of **$31.6 million**, with **$73.3 million** in cash and equivalents - Filed a rulemaking petition with the FCC on April 16, 2024, proposing to rearrange the Lower 900 MHz band to enable terrestrial 3D positioning, navigation, and timing (PNT) services alongside 5G broadband[1](index=1&type=chunk)[3](index=3&type=chunk)[6](index=6&type=chunk) - Received court approval on March 28, 2024, for the sale of licenses covering an additional 4 MHz in the Lower 900 MHz band, a key step towards obtaining FCC approval[6](index=6&type=chunk) Financial Metric | Financial Metric | Q1 2024 | Q1 2023 | Change Driver | | :--- | :--- | :--- | :--- | | **Revenue** | $1.0 million | $0.83 million | Increased recurring service revenue | | **Operating Loss** | $16.2 million | $14.0 million | Higher stock-based compensation and payroll expenses | | **Net Loss** | $31.6 million | $16.3 million | Includes a $13.2M loss on fair value of warrants (vs. $2.8M loss in Q1 2023) | | **Cash & Equivalents** | $73.3 million | - | As of March 31, 2024 | | **Short Term Investments** | $5.9 million | - | As of March 31, 2024 | | **Gross Debt** | $70.0 million | - | As of March 31, 2024 | [Financial Statements](index=3&type=section&id=Financial%20Statements) [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, NextNav's balance sheet reported total assets of **$165.6 million**, an increase from year-end 2023, while total liabilities significantly increased to **$108.4 million**, primarily due to warrants, leading to a decrease in total stockholders' equity to **$55.9 million** Balance Sheet Items (in thousands) | Balance Sheet Items (in thousands) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $96,788 | $91,220 | | *Cash and cash equivalents* | *$73,317* | *$81,878* | | **Total Assets** | **$165,630** | **$162,158** | | **Total Current Liabilities** | $24,140 | $9,803 | | **Total Liabilities** | **$108,361** | **$82,062** | | *Warrants* | *$17,761* | *$7,053* | | *Long term debt, net* | *$49,890* | *$48,447* | | **Total Stockholders' Equity** | **$55,907** | **$78,734** | [Condensed Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) For Q1 2024, NextNav's revenue increased to **$1.05 million**, but operating loss widened to **$16.15 million** due to higher expenses, and net loss significantly increased to **$31.61 million**, or **($0.28) per share**, primarily driven by a **$13.18 million** non-cash loss from warrant fair value changes Income Statement Items (in thousands) | Income Statement Items (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Revenue** | **$1,046** | **$830** | | Total operating expenses | $17,196 | $14,780 | | **Operating loss** | **$(16,150)** | **$(13,950)** | | Change in fair value of warrants | $(13,176) | $(2,800) | | **Net loss** | **$(31,610)** | **$(16,349)** | | **Net loss per share - basic and diluted** | **$(0.28)** | **$(0.15)** | - Revenue increased by **26% YoY**, driven by higher recurring service revenue[6](index=6&type=chunk)[17](index=17&type=chunk) - The increase in net loss was primarily due to a **$13.2 million** loss on the fair value of warrants, compared to a **$2.8 million** loss in the prior-year period[6](index=6&type=chunk)[17](index=17&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, NextNav used **$7.0 million** in cash for operating activities, while investing activities used **$2.1 million** and financing activities provided **$0.5 million**, resulting in an **$8.6 million** decrease in cash and equivalents, ending the period at **$73.3 million** Cash Flow Items (in thousands) | Cash Flow Items (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Net cash used in operating activities** | **$(6,985)** | **$(7,427)** | | **Net cash (used in) provided by investing activities** | **$(2,113)** | **$4,016** | | **Net cash provided by financing activities** | **$516** | **$(1)** | | Net decrease in cash and cash equivalents | $(8,561) | $(3,417) | | **Cash and cash equivalents at end of period** | **$73,317** | **$43,813** | - The company's cash position decreased by **$8.6 million** during the quarter, compared to a **$3.4 million** decrease in the same period last year[19](index=19&type=chunk)