NextNav(US:NN)2022-08-10 15:50Financial Data and Key Metrics Changes - The company reported revenue of $1.4 million for Q2 2022, with an operating loss of $17 million, which includes $884,000 in depreciation and amortization and $6.8 million in stock-based compensation expense [59] - For the first six months of 2022, revenue totaled $2.6 million, with an operating loss of $33.1 million, including $1.8 million in depreciation and amortization and $14 million in stock-based compensation expense [60] - The operating cash usage for Q2 was $10.6 million, a 15% increase compared to Q1, primarily due to incremental hiring [61] Business Line Data and Key Metrics Changes - The company continues to see solid platform and partner adoption, particularly in public safety and government sectors, with significant year-over-year revenue growth [16][18] - New partnerships were signed in various verticals, including public safety, gaming, and construction, enhancing the company's service offerings [36][44] Market Data and Key Metrics Changes - The company is making strides in international markets, particularly in Japan, with a commercial agreement for the deployment of 3D geolocation services [48] - Active discussions are ongoing with US and European governments regarding solutions to address GPS vulnerabilities, indicating a growing interest in the company's TerraPoiNT services [20][34] Company Strategy and Development Direction - The company is focused on leveraging its spectrum assets and technology to drive growth in its 3D geolocation business and expand its next-generation GPS platform [3][14] - There is a strategic emphasis on prudent cost management while ramping up headcount selectively in promising market segments [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the government's increasing interest in PNT resilience, which is expected to lead to additional funding and opportunities [21][29] - The company is exploring options to accelerate its TerraPoiNT strategy in response to the rapid governmental interest and potential funding opportunities [92][96] Other Important Information - The company was added to the Russell 2000 Index in June 2022, which is expected to enhance visibility with the investment community [22] - The company is actively seeking to diversify its board and has appointed Neil Subin to the Board of Directors [11][15] Q&A Session Summary Question: Why were specific financial numbers not included in the press release? - The company will file its Q after the earnings call, along with a registration statement [68] Question: Update on E911 with carrier partners? - The company is on track to launch devices providing Z-axis capability for 911 services later this year and is engaged with multiple carriers [70][71] Question: Any updates on the Sitelus partnership for rural areas? - The company clarified that it is not a formal partnership but is exploring ways to interleave signals with other technologies [77] Question: Cash burn and revenue expectations for the second half of the year? - The company expects cash burn to remain consistent, with some capital expenditures for market expansion, but is not providing specific revenue guidance [82] Question: Will government grants support the build-out? - The company anticipates government grants for resilient infrastructure, with expectations for directives in the next nine months [86] Question: How does the government focus on PNT resilience affect strategy? - The company is exploring options to align its business strategies with the accelerated government interest in PNT resilience [92][96] Question: Is Unity a client and what are the implications? - Unity is a partner, and the company sees significant interest in gaming applications leveraging its technology [103]