RESTON, Va.--(BUSINESS WIRE)--November 06, 2025--
NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing $(PNT)$ and 3D geolocation, today reported its financial results and operational updates for the quarter ended September 30, 2025.
"In the third quarter we continued to proactively advocate for the FCC to take the next step in the process, despite the government shutdown, and are pleased with the technological progress we have made as we prepare for commercialization of our technology," said Mariam Sorond, CEO of NextNav. "We look forward to continuing to support the FCC's important work as we seek to enable a widescale, future-proof complement and backup to GPS as quickly as possible."
Operational Highlights
-- On September 25, 2025, NextNav announced the closing of its agreement to
acquire additional lower 900 MHz band licenses. Details can be found
here.
-- On October 9, 2025, NextNav extended its agreement with AT&T, relating to
NextNav's Pinnacle network operations, by two years. Details can be found
here.
-- On October 10, 2025, NextNav reached a major milestone towards enabling a
widescale commercial 5G PRS-based 3D PNT solution, delivering accurate
timing and positioning information while simultaneously delivering both
downlink and uplink data transmissions utilizing standard 5G network
equipment. Details can be found here.
-- On October 14-15, 2025, NextNav showcased its vertical location
capabilities and progress toward commercialization of 5G-based 3D PNT at
Mobile World Congress 2025 Las Vegas. Details can be found here.
-- On October 24, 2025, NextNav and Oscilloquartz announced the successful
integration of 5G-based timing for critical infrastructure applications.
Details can be found here.
Financial Highlights
-- Balance Sheet: As of September 30, 2025, the Company had $167.6 million
in cash and cash equivalents and short-term investments. Net long-term
debt of $230.1 million includes derivative liability of $75.1 million,
and is net of unamortized discount of $34.9 million, with a face value of
$190 million.
Conference Call Information
NextNav will host a conference call for analysts and investors at 9:00 am ET on Thursday, November 6, 2025.
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/Q4I6293644. 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.
To access the live webcast or a replay, visit the Company's investor relations website at https://ir.nextnav.com/.
To receive replay details, please register through the link above. After registering for replay details, each participant will be provided with call details and access codes to listen to the call playback.
About NextNav Inc.
NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation's largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com.
For more information, please visit https://nextnav.com/ or follow NextNav on Twitter or LinkedIn.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to NextNav's future prospects, developments and business strategies. In particular, such forward-looking statements include the achievement of certain FCC-related milestones and FCC approvals, the ability to realize the broader spectrum capacity and the advancement of NextNav's terrestrial 3D PNT services, NextNav's position to drive growth in its 3D geolocation business and expansion of its next generation terrestrial 3D PNT technologies, the business plans, objectives, expectations and intentions of NextNav, and NextNav's estimated and future business strategies, competitive position, industry environment, potential growth opportunities, revenue, expenses, and profitability. These statements are based on NextNav's management's current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NextNav's control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to, those included in Part II, Item 1A, "Risk Factors" of the Company's quarterly reports on Form 10-Q, and Part I, Item 1A, "Risk Factors" of the NextNav's Annual Report on Form 10-K for the year ended December 31, 2024, as well as those otherwise described or updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"). You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and NextNav undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
NEXTNAV INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE DATA)
December
September 30, 2025 (unaudited) 31, 2024
---------------------------------- ------------
Assets
Current assets:
Cash and cash
equivalents $ 89,994 $ 39,330
Short term
investments 77,583 40,785
Accounts
receivable 1,432 3,301
Other current
assets 3,244 2,629
--- ------------------------ --- --------
Total current assets $ 172,253 $ 86,045
Property and
equipment, net
of accumulated
depreciation of
$15,688 and
$13,716 at
September 30,
2025 and
December 31,
2024,
respectively 12,777 17,974
Operating lease
right-of-use
assets 15,573 17,368
Goodwill 19,099 16,966
Intangible
assets 42,384 9,589
Other assets 984 13,798
--- ------------------------ --- --------
Total assets $ 263,070 $ 161,740
=== ======================== === ========
Liabilities and
stockholders' equity
Current liabilities:
Accounts payable $ 837 $ 858
Accrued expenses
and other
current
liabilities 10,907 8,536
Operating lease
current
liabilities 2,767 2,462
Deferred revenue 422 288
--- ------------------------ --- --------
Total current
liabilities $ 14,933 $ 12,144
Warrants 25,460 28,707
Operating lease
noncurrent
liabilities 12,918 14,352
Other long-term
liabilities 1,753 1,795
Long term debt,
net 230,124 54,621
--- ------------------------ --- --------
Total liabilities $ 285,188 $ 111,619
=== ======================== === ========
Stockholders'
equity:
Common stock,
authorized
500,000,000
shares;
134,859,981 and
131,268,940
shares issued
and 134,727,753
and 131,136,712
shares
outstanding at
September 30,
2025 and
December 31,
2024,
respectively 15 14
Additional
paid-in
capital 958,216 912,241
Accumulated
other
comprehensive
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