Live News • May 06
NextNav Reports Higher Losses as 3D PNT Platform Gains Regulatory Interest and Expands in Japan NextNav is reporting deeper net losses for 2025 as it increases investment in its 3D positioning, navigation, and timing (PNT) platform, alongside higher debt and a larger asset base.
The company is gaining regulatory traction, with progress toward potential FCC rulemaking on terrestrial 3D PNT and growing attention from government bodies and carriers on public safety and GPS resiliency.
NextNav has expanded its partnership with Japan’s MetCom and launched localized operations of a 5G-powered PNT test network, while recent SEC filings highlight new board appointments, insider equity sales tied to tax obligations, and sizable executive equity grants.
For you as an investor, the story here is about a company leaning into its core 3D PNT technology while carrying heavier losses and debt to do it. Regulatory movement toward possible FCC rules on terrestrial 3D PNT, together with pilot projects and test networks, indicates a focus on getting its platform technically validated and aligned with public safety and GPS backup priorities.
The expanded MetCom relationship and 5G-powered test network in Japan show that NextNav is working to prove its technology in real-world settings. At the same time, insider equity sales for tax purposes and substantial executive grants suggest compensation is being structured with significant equity exposure, which can align management with long-term outcomes, while also adding to dilution risk that investors may want to monitor through future filings. Announcement • Apr 30
NextNav Inc. to Report Q1, 2026 Results on May 14, 2026 NextNav Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 14, 2026 New Risk • Apr 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$86m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$100m net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (US$250k sold). Revenue is less than US$5m (US$4.6m revenue). Announcement • Apr 09
NextNav Inc., Annual General Meeting, May 21, 2026 NextNav Inc., Annual General Meeting, May 21, 2026. New Risk • Mar 18
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: US$4.6m This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$86m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$100m net loss in 2 years). Revenue is less than US$5m (US$4.6m revenue). Reported Earnings • Mar 18
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: US$1.42 loss per share (further deteriorated from US$0.84 loss in FY 2024). Net loss: US$189.3m (loss widened 86% from FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 45%. Revenue is expected to decline by 18% p.a. on average during the next 2 years, while revenues in the Software industry in the US are expected to grow by 16%. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 113% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Mar 06
Chairman notifies of intention to sell stock Mariam Sorond intends to sell 70k shares in the next 90 days after lodging an Intent To Sell Form on the 3rd of March. If the sale is conducted around the recent share price of US$16.84, it would amount to US$1.2m. For the year to December 2023, Mariam's total compensation was 18% salary and 82% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Mariam's direct individual holding has increased from 423.01k shares to 514.93k. Company insiders have collectively sold US$6.9m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Mar 03
NextNav Inc. to Report Q4, 2025 Results on Mar 17, 2026 NextNav Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 17, 2026 Announcement • Feb 28
NextNav Inc. Announces Appointment of Lisa Hook as Lead Independent Director and Committee Member, Effective February 24, 2026 NextNav Inc. announced the appointment of Lisa Hook to its Board of Directors, effective February 24, 2026. Lisa Hook will serve as Lead Independent Director and has been appointed as a member of the Company’s Technology and National Defense and Compensation and Human Capital Committees. Lisa Hook is Managing Partner of Two Island Partners LLC, a private equity and consulting firm. She previously served as President and CEO of Neustar Inc., a publicly traded global information services company focused on cloud-based analytics for risk and security, from 2010 to 2018 and has also held executive positions at America Online and Time Warner. Earlier in her career, she served as a legal advisor at the Federal Communications Commission and General Counsel of the Cable Group at Viacom International. Since 2012, she has also served on the National Security Telecommunications Advisory Committee. Lisa Hook brings more than 30 years of public company board experience and currently serves on the boards of Nokia Corporation and Fidelity National Information Services (FIS), and as Lead Independent Director of Philip Morris International. Recent Insider Transactions Derivative • Dec 04
Chairman notifies of intention to sell stock Mariam Sorond intends to sell 70k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of December. If the sale is conducted around the recent share price of US$14.05, it would amount to US$981k. For the year to December 2023, Mariam's total compensation was 18% salary and 82% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Mariam's direct individual holding has increased from 287.35k shares to 459.78k. Company insiders have collectively sold US$7.0m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Nov 13
Consensus revenue estimates decrease by 12%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$5.04m to US$4.43m. EPS estimate increased from -US$1.11 to -US$1.00 per share. Software industry in the US expected to see average net income growth of 23% next year. Consensus price target of US$20.00 unchanged from last update. Share price rose 3.5% to US$12.25 over the past week. Reported Earnings • Nov 07
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: US$0.004 (up from US$0.11 loss in 3Q 2024). Net income: US$483.0k (up US$14.1m from 3Q 2024). Revenue missed analyst estimates by 22%. Earnings per share (EPS) exceeded analyst estimates. Revenue is expected to decline by 19% p.a. on average during the next 2 years, while revenues in the Software industry in the US are expected to grow by 15%. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Announcement • Oct 21
NextNav Inc. to Report Q3, 2025 Results on Nov 06, 2025 NextNav Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 06, 2025 Announcement • Sep 23
NextNav Inc. Announces Chief Financial Officer Changes NextNav Inc. announced the appointment of Tim Gray as Chief Financial Officer. Chris Gates, the Company's former CFO, will now focus his time on strategy as Executive Vice President of Corporate Development. Mr. Gray most recently served more than a decade as Chief Financial Officer of Anterix. Prior to Anterix, he held multiple senior finance leader positions at MedImmune Inc., a subsidiary of AstraZeneca including Senior Vice President and Chief Financial Officer. Earlier in his career, Mr. Gray served in finance positions at AOL and Nextel and started his career at Deloitte &Touche LLP. He is also a member of the Audit Committee of the Childrens Inn at the National Institutes of Health. Mr. Gray received a Bachelor of business administration in accountancy from the University of Notre Dame and is a certified public accountant. Mr. Gates has been responsible for all corporate finance functions since 2021 and led the Companys transition to public company operations. Prior to that, he was Senior Vice President of Strategy, Corporate and Business Development. In that role, he led strategic partnerships, contributed to policy and standards outreach, supported public safety initiatives, including E911 and FirstNet, and helped shape the companys monetization and asset development strategies. He is also a named co-inventor on several patents related to NextNavs technologies. Recent Insider Transactions Derivative • Sep 04
Chairman notifies of intention to sell stock Mariam Sorond intends to sell 70k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of September. If the sale is conducted around the recent share price of US$17.81, it would amount to US$1.2m. For the year to December 2023, Mariam's total compensation was 18% salary and 82% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Mariam's direct individual holding has increased from 287.35k shares to 478.16k. Company insiders have collectively sold US$299k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.48 loss per share (further deteriorated from US$0.21 loss in 2Q 2024). Net loss: US$63.2m (loss widened 159% from 2Q 2024). Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is expected to decline by 17% p.a. on average during the next 2 years, while revenues in the Software industry in the US are expected to grow by 13%. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Announcement • Jul 23
NextNav Inc. to Report Q2, 2025 Results on Aug 06, 2025 NextNav Inc. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Recent Insider Transactions Derivative • Jun 22
Chairman notifies of intention to sell stock Mariam Sorond intends to sell 70k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of June. If the sale is conducted around the recent share price of US$14.39, it would amount to US$1.0m. For the year to December 2023, Mariam's total compensation was 18% salary and 82% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Mariam's direct individual holding has increased from 287.35k shares to 423.01k. Company insiders have collectively bought US$3.7m more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • May 16
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$7.87m to US$6.51m. Forecast losses increased from -US$0.50 to -US$0.845 per share. Software industry in the US expected to see average net income growth of 19% next year. Consensus price target of US$20.00 unchanged from last update. Share price rose 6.3% to US$13.94 over the past week. Reported Earnings • May 10
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.45 loss per share (further deteriorated from US$0.28 loss in 1Q 2024). Net loss: US$58.6m (loss widened 85% from 1Q 2024). Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 63% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 14
NextNav Inc., Annual General Meeting, May 22, 2025 NextNav Inc., Annual General Meeting, May 22, 2025. Announcement • Mar 29
NextNav Inc. announced that it has received $190 million in funding from M-Cor Capital LLC, Fortress Investment Group LLC On March 27, 2024. NextNav Inc. has closed the transaction. Recent Insider Transactions Derivative • Mar 18
Chairman notifies of intention to sell stock Mariam Sorond intends to sell 63k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of March. If the sale is conducted around the recent share price of US$11.04, it would amount to US$694k. Almost all of their compensation in the past year has been non-cash. These sales could comprise a meaningful part of their income for the year. Since March 2024, Mariam's direct individual holding has increased from 38.82k shares to 287.35k. Company insiders have collectively bought US$5.3m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Mar 14
NextNav Inc. announced that it expects to receive $190 million in funding from M-Cor Capital LLC, Fortress Investment Group LLC and other investors NextNav Inc. entered into a note purchase agreement to issue 5% redeemable senior secured convertible notes due 2028 at principal amount of $190,000,000 for gross proceeds of $190,000,000 on March 12, 2025. The transaction will include participation from new lead investor M-Cor Capital LLC, returning lead investor Fortress Investment Group LLC, and other new and existing investors. The 2028 notes will bear interest at an annual rate of 5% and mature on June 30, 2028. Interest on the 2028 Notes is payable semi-annually in arrears on each of June 1 and December 1, commencing on June 1, 2025. The new notes will have a conversion price of $12.56 per share. The company will also issue to M-Cor Capital LLC and Fortress Investment Group LLC common stock purchase warrants to purchase 1,500,000 shares each exercisable at $20 per share, common stock purchase warrants to purchase 950,000 shares each exercisable at $17 per share, and common stock purchase warrants to purchase 1,450,000 shares each exercisable at $12.56 per share. The 2028 Notes and the Warrants were offered and will be sold in reliance upon exemptions from registration pursuant to Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder. The private placement is expected to close on or about March 31, 2025 Reported Earnings • Mar 13
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: US$0.84 loss per share (further deteriorated from US$0.66 loss in FY 2023). Net loss: US$101.9m (loss widened 42% from FY 2023). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 57% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. New Risk • Jan 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$57m net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Revenue is less than US$5m (US$5.0m revenue). Recent Insider Transactions Derivative • Dec 04
Chairman notifies of intention to sell stock Mariam Sorond intends to sell 251k shares in the next 90 days after lodging an Intent To Sell Form on the 3rd of December. If the sale is conducted around the recent share price of US$17.25, it would amount to US$4.3m. Almost all of their compensation in the past year has been non-cash. These sales could comprise a meaningful part of their income for the year. Since March 2024, Mariam has owned 38.82k shares directly. Company insiders have collectively bought US$20m more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Nov 20
Consensus revenue estimates increase by 20% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$4.57m to US$5.48m. Forecast losses expected to reduce from -US$0.795 to -US$0.74 per share. Software industry in the US expected to see average net income growth of 18% next year. Consensus price target up from US$12.00 to US$20.00. Share price rose 20% to US$16.21 over the past week. Reported Earnings • Nov 14
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: US$0.11 loss per share (improved from US$0.21 loss in 3Q 2023). Net loss: US$13.6m (loss narrowed 41% from 3Q 2023). Revenue exceeded analyst estimates by 45%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 60% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 165% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Oct 22
NextNav Inc. to Report Q3, 2024 Results on Nov 13, 2024 NextNav Inc. announced that they will report Q3, 2024 results After-Market on Nov 13, 2024 Recent Insider Transactions • Aug 29
Independent Director recently bought US$1.7m worth of stock On the 27th of August, Neil Subin bought around 250k shares on-market at roughly US$6.93 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$2.3m. Insiders have collectively bought US$19m more in shares than they have sold in the last 12 months. Major Estimate Revision • Aug 14
Consensus revenue estimates fall by 36% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$7.19m to US$4.57m. Forecast losses increased from -US$0.69 to -US$0.81 per share. Software industry in the US expected to see average net income growth of 18% next year. Consensus price target of US$12.00 unchanged from last update. Share price fell 7.3% to US$7.47 over the past week. Reported Earnings • Aug 08
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: US$0.21 loss per share (further deteriorated from US$0.15 loss in 2Q 2023). Net loss: US$24.4m (loss widened 55% from 2Q 2023). Revenue missed analyst estimates by 32%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 75% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 144% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jul 22
NextNav Inc. to Report Q2, 2024 Results on Aug 07, 2024 NextNav Inc. announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Announcement • Jul 03
NextNav Inc.(NasdaqCM:NN) dropped from Russell Small Cap Comp Value Index NextNav Inc.(NasdaqCM:NN) dropped from Russell Small Cap Comp Value Index Announcement • Jun 25
NextNav Appoints Nicola Palmer to Board of Directors NextNav announced the appointment of Nicola Palmer to its Board of Directors effective June 24, 2024. Palmer has also been appointed as a member of the Audit Committee of the Board. Following this appointment, the Board is now comprised of seven directors. As Chief Product Officer of Verizon, Palmer led the organization’s broad technical capabilities and assets to innovate, develop, and rapidly deliver a portfolio of products and services for customers of all Verizon businesses and oversaw the identification, development, acquisition, and application of new technologies to advance network capabilities. Palmer began her career at Bell Atlantic, a Verizon predecessor company, and her leadership roles have spanned engineering, operations, and technology supporting advanced data and wireless products, serving as Chief Technology Officer, Chief Engineering Officer, and Head of Wireless Networks. Ms. Palmer earned a bachelor's degree in industrial engineering from Penn State University and an MBA from the University of Pennsylvania’s Wharton School. Widely celebrated in the industry, she has been recognized with several technology and DEI awards, including the Most Influential Women in Wireless and Top 10 Women in Telecom. Palmer is also a passionate advocate for promoting education and careers in Science, Technology, Engineering, and Math (STEM), especially for young women. She has been honored by Working Mother magazine and the Girl Scouts of Greater New York. Announcement • May 18
NextNav Announces Appointment of Jonathan Marcus to Board of Directors NextNav announced the appointment of Jonathan A. Marcus to the Company’s Board of Directors, effective May 16, 2024. Mr. Marcus currently serves as the Chairman of Alimco Financial Corp., (“Alimco”) and previously served as CEO of Alimco from March 2019 to May 2023. He is also currently on the board of directors for Anacomp Inc. and Kaspien Holdings Inc. Earlier in his career, Mr. Marcus was a managing member and co-founder of Broadbill Partners, L.P., a fund focused on special situations and distressed securities. Prior to Broadbill, Mr. Marcus was the Chief Investment Officer of Cypress Management, L.P., the predecessor fund to Broadbill, which he founded in 1995. Mr. Marcus’ career also includes extensive investment banking and financial advisory work at Prudential-Bache Securities and Credit Suisse First Boston. Since January 2018, Mr. Marcus has served as Special Advisor to Milfam LLC. Major Estimate Revision • May 15
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$7.63m to US$7.19m. Losses expected to increase from US$0.58 per share to US$0.69. Software industry in the US expected to see average net income growth of 28% next year. Consensus price target of US$9.00 unchanged from last update. Share price fell 11% to US$7.48 over the past week. Reported Earnings • May 09
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$0.28 loss per share (further deteriorated from US$0.15 loss in 1Q 2023). Net loss: US$31.6m (loss widened 93% from 1Q 2023). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 72% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 08
NextNav Appoints Sanyogita Shamsunder as Chief Operating Officer, Effective May 9, 2024 NextNav announced the appointment of Dr. Sanyogita Shamsunder as the company’s new chief operating officer, effective May 9, 2024. In this newly created role, Sanyogita will be overseeing business development, strategy, product and software, program and operations, and IT. Dr. Shamsunder joins the company with over 20 years of experience leveraging technology and innovation to scale growth at both large enterprises and start-up technology companies. Recently, she held the title of the Head of Edge Network Infrastructure at Google, where she led the team that developed and maintained Google's multi-vendor Global Edge Network. Prior to that, Sanyogita led various network and product teams at Verizon, including as the Vice President of Product Strategy and Operations, where she led early 5G network technology development and trials. Earlier in her career, she launched the first 4G devices as well as led various spectrum initiatives in collaboration with government and industry groups. Sanyogita received her MBA from the Wharton School and Ph.D in electrical engineering and math from the University of Virginia. Announcement • Apr 26
NextNav Inc. to Report Q1, 2024 Results on May 08, 2024 NextNav Inc. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Announcement • Mar 29
NextNav Inc., Annual General Meeting, May 16, 2024 NextNav Inc., Annual General Meeting, May 16, 2024, at 12:00 US Eastern Standard Time. Agenda: To elect six (6)director nominees named in the accompanying Proxy Statement to our Board of Directors, each to serve until our 2025 Annual Meeting of Stockholders or until such persons successor is duly elected and qualified; to ratify the appointment of Ernst& Young LLP as our independent registered public accounting firm for the fiscal year ending December31, 2024; to approve the issuance of shares of our common stock in satisfaction of future payment obligations pursuant to the transaction with Telesaurus and Skybridge, in accordance with Nasdaq Listing; and to transact such other business as may properly be brought before the Annual Meeting or any adjournment or postponement thereof. Recent Insider Transactions • Mar 21
Insider recently bought US$1.7m worth of stock On the 18th of March, Charles Frischer bought around 396k shares on-market at roughly US$4.38 per share. This transaction amounted to 5.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$9.6m. Insiders have collectively bought US$12m more in shares than they have sold in the last 12 months. Major Estimate Revision • Mar 20
Consensus revenue estimates fall by 55% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$16.8m to US$7.63m. Forecast losses increased from -US$0.46 to -US$0.59 per share. Software industry in the US expected to see average net income growth of 25% next year. Consensus price target of US$9.00 unchanged from last update. Share price fell 9.5% to US$4.74 over the past week. Announcement • Mar 16
NextNav Inc. Announces Cessation of David Knutson as Senior Vice President, Network Operations and Deployment NextNav Inc. announced that on March 11, 2024, the position of Senior Vice President, Network Operations and Deployment held by David Knutson was eliminated as a result of an internal organizational assessment. Accordingly, his employment with the company ceased on March 11, 2024. Reported Earnings • Mar 14
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: US$0.66 loss per share (further deteriorated from US$0.40 loss in FY 2022). Net loss: US$71.7m (loss widened 79% from FY 2022). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 1.0%. Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Mar 14
Key Executive notifies of intention to sell stock David Knutson intends to sell 43k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of March. If the sale is conducted around the recent share price of US$3.89, it would amount to US$165k. Since March 2023, David's direct individual holding has decreased from 452.12k shares to 444.73k. Company insiders have collectively bought US$9.4m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Mar 07
NextNav Inc. to Report Fiscal Year 2023 Results on Mar 13, 2024 NextNav Inc. announced that they will report fiscal year 2023 results at 4:00 PM, US Eastern Standard Time on Mar 13, 2024 Recent Insider Transactions Derivative • Jan 29
Senior Advisor notifies of intention to sell stock Ganesh Pattabiraman intends to sell 231k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of January. If the sale is conducted around the recent share price of US$3.76, it would amount to US$867k. Since March 2023, Ganesh's direct individual holding has decreased from 1.88m shares to 1.83m. Company insiders have collectively sold US$223k more than they bought, via options and on-market transactions in the last 12 months. Announcement • Jan 22
NextNav Inc. Appoints John Muleta to Its Board of Directors and Member of Audit Committee NextNav Inc. announced the appointment of John Muleta to the company’s Board of Directors, effective January 18, 2024. Mr. Muleta has been appointed as a member of the Audit Committee of the Board. Following the appointment of Mr. Muleta, the Board is now comprised of seven directors. Currently serving as the CEO of ATELUM LLC, a technology transfer firm specializing in mobile and Internet services, and as the Managing Member of SNR Wireless, Mr. Muleta's career spans the public and private sectors. Notably, he served as the Chief of the FCC'sWireless Telecommunications Bureau, where he oversaw the development and implementation of spectrum policies, managed the FCC's auction and licensing processes, and helped implement the Agency’s wireless E911 mandate. In the private sector, Mr. Muleta has an extensive track record of leadership and entrepreneurship. Further, he co-founded and served as CEO and board member of M2Z Networks, served as Chairman and CEO of Tellus Technology, and held the position of Senior Vice President for global infrastructure deployment at PSINet. Mr. Muleta has an undergraduate degree in Systems Engineering and a joint MBA/JD from the University of Virginia. Recent Insider Transactions • Jan 11
Key Executive recently sold US$100k worth of stock On the 9th of January, David Knutson sold around 20k shares on-market at roughly US$5.01 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$373k. David has been a net seller over the last 12 months, reducing personal holdings by US$258k. Announcement • Nov 30
Nextnav Inc. Announces Chief Executive Officer Changes NextNav Inc. announced the appointment of Mariam Sorond, a veteran industry leader, as NextNav’s new Chief Executive Officer, effective November 29, 2023. Ms. Sorond will also join NextNav’s Board of Directors upon assuming her new role as CEO. Ganesh Pattabiraman, NextNav’s Co-Founder and current CEO made the personal decision to step down from his role as CEO and member of the Board of Directors at NextNav to spend more time with family. Mr. Pattabiraman plans to remain as a senior advisor to the Company for two years. Ms. Sorond joins NextNav with over 28 years of technical and strategy experience in the telecommunications industry. Most recently, she held the title of Chief Technology Officer, SEBU for VMWare where she helped to define and evangelize its technical strategy as well as lead its digital transformation. Prior to that, Ms. Sorond was the Chief Research and Development Officer at CableLabs, where she focused on technical thought leadership, vision, and strategy for the future of converged connectivity of broadband cable and mobile networks. Before joining the cable industry, Ms. Sorond served in several senior positions, including Chief Wireless Architect of DISH where she led the company’s entry into the wireless market. She was also responsible for spectrum technology and strategy, end-to-end technology development, as well as creating the next generation of network architecture and standards development at DISH. Ms. Sorond currently serves as a member of the NTIA Commerce Spectrum Management Advisory Committee and the FCC Technological Advisory Council. Recent Insider Transactions • Nov 26
Co-Founder recently sold US$373k worth of stock On the 22nd of November, Ganesh Pattabiraman sold around 85k shares on-market at roughly US$4.41 per share. This transaction amounted to 4.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ganesh has been a net seller over the last 12 months, reducing personal holdings by US$618k. Recent Insider Transactions Derivative • Nov 24
Co-Founder notifies of intention to sell stock Ganesh Pattabiraman intends to sell 85k shares in the next 90 days after lodging an Intent To Sell Form on the 21st of November. If the sale is conducted around the recent share price of US$4.79, it would amount to US$405k. For the year to December 2020, Ganesh's total compensation was 22% salary and 78% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2023, Ganesh's direct individual holding has decreased from 1.88m shares to 1.72m. Company insiders have collectively sold US$655k more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Nov 15
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$4.07m to US$4.00m. Losses expected to increase from US$0.57 per share to US$0.64. Software industry in the US expected to see average net income growth of 15% next year. Consensus price target of US$9.00 unchanged from last update. Share price rose 5.0% to US$5.05 over the past week. Recent Insider Transactions Derivative • Nov 12
Key Executive notifies of intention to sell stock David Knutson intends to sell 28k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of November. If the sale is conducted around the recent share price of US$4.88, it would amount to US$139k. Since December 2022, David's direct individual holding has increased from 422.23k shares to 440.19k. Company insiders have collectively sold US$605k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$0.21 loss per share (further deteriorated from US$0.18 loss in 3Q 2022). Net loss: US$23.2m (loss widened 24% from 3Q 2022). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 81% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Nov 07
NextNav Inc. to Report Q3, 2023 Results on Nov 08, 2023 NextNav Inc. announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Recent Insider Transactions • Aug 24
Chief Financial Officer recently sold US$152k worth of stock On the 18th of August, Christian Gates sold around 37k shares on-market at roughly US$4.08 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Christian has been a net seller over the last 12 months, reducing personal holdings by US$205k. Major Estimate Revision • Aug 16
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$4.90m to US$4.07m. Forecast losses increased from -US$0.54 to -US$0.573 per share. Software industry in the US expected to see average net income growth of 15% next year. Consensus price target of US$9.00 unchanged from last update. Share price rose 28% to US$4.29 over the past week. Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$0.15 loss per share (down from US$0.008 profit in 2Q 2022). Net loss: US$15.8m (down US$16.6m from profit in 2Q 2022). Revenue missed analyst estimates by 19%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 75% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Announcement • Jul 29
NextNav Inc. to Report Q2, 2023 Results on Aug 09, 2023 NextNav Inc. announced that they will report Q2, 2023 results After-Market on Aug 09, 2023 Recent Insider Transactions Derivative • Jun 23
Independent Director notifies of intention to sell stock Peter Aquino intends to sell 324k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of June. If the sale is conducted around the recent share price of US$2.79, it would amount to US$904k. Since September 2022, Peter's direct individual holding has increased from 242.47k shares to 314.68k. Company insiders have collectively bought US$4.4m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jun 13
NextNav Inc. announced that it has received $70 million in funding from Susquehanna International Group, LLP, Whitebox Advisors LLC, Clutterbuck Capital Management LLC On June 12, 2023, NextNav Inc. closed the tramsaction. The company issued addtional $20 million bringing to total $70 million in transaction. Recent Insider Transactions • May 23
Co-Founder recently sold US$185k worth of stock On the 18th of May, Ganesh Pattabiraman sold around 84k shares on-market at roughly US$2.20 per share. This transaction amounted to 4.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Ganesh's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • May 22
Co-Founder notifies of intention to sell stock Ganesh Pattabiraman intends to sell 84k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of May. If the sale is conducted around the recent share price of US$2.20, it would amount to US$185k. For the year to December 2020, Ganesh's total compensation was 22% salary and 78% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2022, Ganesh's direct individual holding has increased from 1.61m shares to 1.88m. Company insiders have collectively bought US$6.9m more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • May 17
Consensus EPS estimates upgraded to US$0.58 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$0.68 to -US$0.58 per share. Revenue forecast unchanged from US$7.51m at last update. Software industry in the US expected to see average net income growth of 12% next year. Consensus price target of US$9.00 unchanged from last update. Share price was steady at US$2.29 over the past week. Reported Earnings • May 12
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: US$0.15 loss per share (further deteriorated from US$0.096 loss in 1Q 2022). Net loss: US$16.3m (loss widened 68% from 1Q 2022). Revenue missed analyst estimates by 39%. Earnings per share (EPS) exceeded analyst estimates by 14%. Revenue is forecast to grow 79% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Announcement • May 11
NextNav Inc. announced that it has received $50 million in funding from Susquehanna International Group, LLP, Whitebox Advisors LLC, Clutterbuck Capital Management LLC NextNav Inc. announced a private placement of 10.00% Senior Secured First Lien Notes for gross proceeds of $50,000,000 on May 10, 2023. The transaction included participation from new investors, Susquehanna International Group, LLP, Whitebox Advisors LLC and Clutterbuck Capital Management LLC. The investors will also have the exclusive option to purchase an additional $20 million of notes on the same terms for 30 days following the close. The facility provides the ability to issue up to a maximum $80 million aggregate principal amount of notes. The notes will mature on December 1, 2026, and pay interest semi-annually at a rate of 10.0% per annum, with the first payment being due on December 1, 2023. A minimum of 50% of each interest payment due on the notes must be paid in cash, with the rest payable in cash or stock at the company's discretion. The notes are guaranteed on a first lien senior secured basis by the company's domestic subsidiaries and secured by substantially all of the assets of the company and its domestic subsidiaries. In addition, the noteholders will receive fair market value warrants to purchase common stock for cash at an aggregate exercise price of $40 million and represent approximately 12.5% ownership on a fully diluted basis. The warrants are partially callable beginning in 2025 depending on the prevailing stock price. Reported Earnings • Mar 24
Full year 2022 earnings released: US$0.40 loss per share (vs US$6.73 loss in FY 2021) Full year 2022 results: US$0.40 loss per share (improved from US$6.73 loss in FY 2021). Net loss: US$40.1m (loss narrowed 75% from FY 2021). Revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Recent Insider Transactions Derivative • Jan 16
Key Executive notifies of intention to sell stock David Knutson intends to sell 44k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of January. If the sale is conducted around the recent share price of US$3.12, it would amount to US$137k. Since March 2022, David's direct individual holding has increased from 337.96k shares to 392.75k. Company insiders have collectively bought US$6.9m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Nov 19
Executive Chairman notifies of intention to sell stock Gary Parsons intends to sell 400k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of November. If the sale is conducted around the recent share price of US$3.30, it would amount to US$1.3m. Since December 2021, Gary's direct individual holding has decreased from 1.81m shares to 1.45m. Company insiders have collectively bought US$6.9m more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Nov 17
Consensus revenue estimates fall by 73% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$14.3m to US$3.88m. Forecast losses increased from -US$0.32 to -US$0.42 per share. Software industry in the US expected to see average net income growth of 11% next year. Consensus price target down from US$13.50 to US$10.50. Share price rose 15% to US$3.57 over the past week. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Alan Howe is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 12
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.18 loss per share (improved from US$1.57 loss in 3Q 2021). Net loss: US$18.7m (loss narrowed 42% from 3Q 2021). Revenue missed analyst estimates by 79%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 68% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Software industry in the US. Announcement • Nov 04
NextNav Inc. (NasdaqCM:NN) acquired Nestwave SAS for $17.8 million. NextNav Inc. (NasdaqCM:NN) acquired Nestwave SAS for $17.8 million on October 31, 2022. The enterprise value was determined at $18 million and the gross consideration value will be paid - $4.3 million in cash and $15.0 million in NextNav's common stock. The transaction resulted in the issuance of 4 million shares of NextNav common stock upon close, and up to 1.1 million shares of common stock upon exercise of certain Nestwave employee options. All such shares are subject to a lock-up expiring on the first anniversary of transaction close. Post the transaction, Nestwave will adopt NextNav's name and be integrated into existing TerraPoiNT engineering and technology efforts. All Nestwave employees will remain with the company. Nestwave CEO, Ambroise Popper, will continue to serve as Vice President and General Manager in France and become a member of NextNav's executive leadership team, while Nestwave CTO and Founder, Rabih Chrabieh will serve as Vice President of Engineering.
NextNav Inc. (NasdaqCM:NN) completed the acquisition of Nestwave SAS on October 31, 2022. Announcement • Nov 02
NextNav Inc. to Report Q3, 2022 Results on Nov 10, 2022 NextNav Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 10, 2022 Recent Insider Transactions • Aug 18
Insider recently bought US$2.0m worth of stock On the 12th of August, Timothy Presutti bought around 671k shares on-market at roughly US$3.05 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$6.2m more in shares than they have sold in the last 12 months. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$17.4m to US$14.3m. EPS estimate increased from -US$0.41 to -US$0.36 per share. Software industry in the US expected to see average net income growth of 5.5% next year. Consensus price target down from US$14.75 to US$13.50. Share price fell 9.2% to US$3.05 over the past week. Reported Earnings • Aug 12
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: US$0.008 (up from US$6.07 loss in 2Q 2021). Net income: US$827.0k (up US$45.4m from 2Q 2021). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 1,221%, compared to a 18% growth forecast for the industry in the US. Announcement • Aug 11
NextNav Inc. Announces Executive Changes NextNav Inc. announced that Neil S. Subin has joined the company’s board of directors effective August 10, 2022. Mr. Subin replaces Peter Barris, who was recently named Chairman of the Board of Trustees of Northwestern University. Mr. Subin currently serves as Chief Investment Officer for MILFAM, a single-family office. Throughout his career, Mr. Subin has served as a director and major shareholder for a number of telecommunications companies through various cycles of their growth and development. His efforts include advising companies on the appropriate approach to support the growth and development of their spectrum assets via effective financial and operating plans. He has also been integral in providing substantial transaction support for spectrum assets tied to several of the major telecommunications companies which has resulted in significant value creation for these businesses. Mr. Subin has been an active member of numerous boards of directors and currently serves on the boards of Alimco Financial Corp, Centrus Energy Corp, Frontiersman Holdings Inc., and Quantlab Financial LLC.