📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

NextNav Inc. provides positioning, navigation, and timing (PNT) solutions in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding NN

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	455.9K	$7.3M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management expressed strong confidence in their FCC advocacy and technical filings, using phrases like 'we have completed a rigorous and robust analysis' and 'we are well-positioned for continued momentum.' They emphasized specific milestones (license assignment, technical studies) and rejected critics' claims as unfounded.

Q3 2025

Confident Vague

Management expresses optimism about FCC progress and technology milestones but repeatedly declines to provide specific timing for the NPRM, using phrases like 'cannot speculate on timing' and 'we continue to believe this is an important issue'.

Q4 2025

Confident Specific

The CEO expresses strong confidence in the FCC process, calling it an 'incredible milestone' and stating they are 'thrilled' while providing specific updates like the NPRM sent to OMB and the start of 5G network testing. The CFO reinforces financial strength with $152 million cash and multiple years of runway.

Q1 2026 latest

Confident Specific

Management uses phrases like 'our conviction remains unchanged' and 'we are very proud of the progress' while providing specific details on FCC NPRM progress, coexistence testing results, and network testing milestones. The tone is assertive and forward-looking with concrete evidence.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call due to clear regulatory progress (FCC NPRM in interagency review), successful coexistence demonstrations that counter opposition claims, and expansion into new high-growth areas like drone sensing. Management's specific technical updates (RFID test, 5G PNT network) provide tangible evidence of viability. However, the lack of revenue or customer timelines keeps execution risk alive. Key watch items: issuance of the FCC NPRM, any further opposition outcomes, and any commercial partnership announcements that validate the path to revenue. The $143M cash position and potential $200M+ warrant redemption provide funding runway but must be balanced against continued cash burn.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED NextNav holds ~$143M cash, rights to 4B MHz POP in 900 MHz, targets GPS backup via 5G PNT.

Revenue & Profitability

For Q1 2026, NextNav reported a net loss of approximately $10.6 million, which was partially offset by non-cash gains of $12.6 million from changes in the fair value of derivative and warrant liabilities. The company ended the quarter with about $143 million in cash, cash equivalents, and short-term investments. No revenue figures were disclosed on the call.

Outlook

Management sees strong tailwinds from increasing national security urgency for GPS backups, the expansion of AI and autonomous systems, and the drone dominance initiative. They note the FCC Chairman has prioritized alternatives to GPS. Headwinds include increased opposition activity and a recent attempt to stall the NPRM through the House Appropriations Committee, which management believes is an overreach that underscores the strength of their record.

Growth Drivers

Key growth levers include the FCC's NPRM process that could open the path to commercialization, partnerships with railroads and tolling industry operators, and expansion into drone sensing via the OCUDU initiative. Management also highlighted ongoing dialogues with wireless carriers, satellite operators, and big tech companies as potential strategic partners.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Not discussed in this earnings call.

Key Risks

Management flagged increased opposition activity, including an attempt to stall the NPRM through the House Appropriations Committee, which they view as a dangerous precedent. They also noted that the timing of the NPRM remains subject to ongoing interagency reviews, creating regulatory uncertainty.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-11

Liquidity rose to $300 million after eliminating debt and SPAC warrants, despite a $33.8 million net loss. Key partnerships and regulatory progress, including SpaceX support, position the company for growth as demand for resilient PNT and low-band spectrum increases.

Q1 2026 Q1 2026 2026-05-14

Q1 2026 ended with $143M in cash and a $10.6M net loss, offset by $12.6M in non-cash gains. Regulatory progress continues with FCC NPRM and industry collaborations, while commercialization efforts and strategic partnerships advance amid increased opposition activity.

Q4 2025 Q4 2025 2026-03-17

Q4 2025 saw strong regulatory progress as the FCC advanced a key NPRM, while liquidity remained robust at $152 million. Net loss was $68 million due to non-cash warrant and derivative losses, and international partnerships expanded commercialization opportunities.

Q3 2025 Q3 2025 2025-11-06

Major technical and regulatory milestones were achieved, including 5G-based PNT integration and an extended AT&T partnership. Strong liquidity, non-cash gains, and a positive spectrum market outlook support ongoing commercialization and national security goals.

Q2 2025 Q2 2025 2025-08-06

Q2 2025 saw revenue growth and expanded FCC spectrum rights, but net losses increased due to non-cash charges. Technical and economic filings support a 5G-based GPS backup, with industry partnerships advancing resilient PNT solutions.

📊 Analysis Methodology

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