NN

MKT CAP:$2B

NextNav Inc.

Market Cap

$2B

Communication Services·Internet Content & Information·🇺🇸 United States·NASDAQ

Communication·Internet·🇺🇸·NASDAQ

Stock Price

$18.08+$1.86 (+11.45%)

Apr 24, 2026

Company Details

NextNav Inc. provides next generation global positioning system (GPS) and 3D geolocation services. The company delivers next generation positioning, navigation, and timing solutions through its network-based Pinnacle and TerraPoiNT solution...

CEO

Mariam Sorond

IPO Date

Nov 2, 2020

Website

www.nextnav.com

Key Metrics TTM

Revenue

$5M

-19.3% YoY

Net Income

-$189M

EPS (Diluted)

-$1.55

Free Cash Flow

-$51M

Revenue / Share

$0.03

Gross Margin

-256.2%

Operating Margin

-1535.8%

Net Margin

-4138.5%

FCF Margin

-1117.6%

P/S

526.1x

P/E

—

Earnings Reports

Q1 2026

May 8, 2026

PENDING

FY 2025

Mar 17, 2026

$5M-19.3%EPS -$1.42

Q4 2025

Mar 17, 2026

$945.0K-50.5%EPS -$0.50

Q3 2025

Nov 6, 2025

$887.0K-44.8%EPS -$0.12

Q2 2025

Aug 6, 2025

$1M+8.8%EPS -$0.48

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1M	-$2M	-$16M
Q2 22	$1M	-$2M	-$17M
Q3 22	$503.0K	-$2M	-$18M
Q4 22	$803.0K	-$2M	-$15M
Q1 23	$830.0K	-$2M	-$14M
Q2 23	$800.0K	-$2M	-$15M
Q3 23	$1M	-$2M	-$15M
Q4 23	$1M	-$2M	-$20M
Q1 24	$1M	-$2M	-$16M
Q2 24	$1M	-$2M	-$15M
Q3 24	$2M	-$978.0K	-$14M
Q4 24	$2M	-$596.0K	-$15M
Q1 25	$2M	-$994.0K	-$17M
Q2 25	$1M	-$833.0K	-$17M
Q3 25	$887.0K	-$1M	-$20M
Q4 25	$945.0K	-$9M	-$16M

Valuation

Quarter	P/S	P/E
Q1 22	417.1x	—
Q2 22	77.3x	—
Q3 22	93.4x	—
Q4 22	82.9x	—
Q1 23	59.4x	—
Q2 23	110.0x	—
Q3 23	156.1x	—
Q4 23	133.1x	—
Q1 24	192.7x	—
Q2 24	232.5x	—
Q3 24	197.9x	—
Q4 24	384.5x	—
Q1 25	258.9x	—
Q2 25	318.4x	—
Q3 25	353.1x	—
Q4 25	491.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$6M	-$6M
Q2 22	-$11M	-$11M
Q3 22	-$8M	-$10M
Q4 22	-$12M	-$13M
Q1 23	-$7M	-$9M
Q2 23	-$8M	-$10M
Q3 23	-$9M	-$9M
Q4 23	-$11M	-$11M
Q1 24	-$7M	-$7M
Q2 24	-$12M	-$12M
Q3 24	-$7M	-$7M
Q4 24	-$12M	-$12M
Q1 25	-$12M	-$12M
Q2 25	-$14M	-$14M
Q3 25	-$9M	-$9M
Q4 25	-$16M	-$16M

Capital Expenditures

Quarter	CapEx
Q1 22	$208.0K
Q2 22	$463.0K
Q3 22	$1M
Q4 22	$1M
Q1 23	$1M
Q2 23	$1M
Q3 23	$208.0K
Q4 23	$210.0K
Q1 24	$195.0K
Q2 24	$149.0K
Q3 24	$1.0K
Q4 24	$256.0K
Q1 25	$131.0K
Q2 25	$27.0K
Q3 25	$118.0K
Q4 25	$86.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+1031.1%	+32.1%
Q2 22	+466.1%	+43.4%
Q3 22	+82.2%	+152.5%
Q4 22	+3915.0%	+8.2%
Q1 23	-30.8%	-14.3%
Q2 23	-43.7%	-14.1%
Q3 23	+104.2%	-15.1%
Q4 23	+50.1%	+37.8%
Q1 24	+26.0%	+16.3%
Q2 24	+38.1%	+3.8%
Q3 24	+56.5%	-1.2%
Q4 24	+58.6%	-21.1%
Q1 25	+47.1%	+7.8%
Q2 25	+8.8%	+12.2%
Q3 25	-44.8%	+34.2%
Q4 25	-50.5%	+2.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$7M	600.1%
Q2 22	$7M	475.9%
Q3 22	$7M	1319.1%
Q4 22	$6M	735.7%
Q1 23	$4M	465.8%
Q2 23	$4M	546.3%
Q3 23	$4M	429.1%
Q4 23	$9M	763.1%
Q1 24	$4M	405.7%
Q2 24	$0	0.0%
Q3 24	$3M	203.2%
Q4 24	$3M	141.0%
Q1 25	$4M	281.0%
Q2 25	$4M	303.7%
Q3 25	$5M	514.7%
Q4 25	$4M	433.7%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$4M	—
Q2 22	$4M	—
Q3 22	$5M	—
Q4 22	$4M	—
Q1 23	$5M	—
Q2 23	$5M	—
Q3 23	$5M	$6M
Q4 23	$5M	$12M
Q1 24	$5M	—
Q2 24	$4M	$8M
Q3 24	$4M	$8M
Q4 24	$4M	$9M
Q1 25	$4M	—
Q2 25	$5M	$10M
Q3 25	$5M	—
Q4 25	$5M	$9M

Revenue Segments

Quarter	Commercial Services	Equipment Sales
Q2 22	$1M	$112.0K
Q3 22	$488.0K	$8.0K
Q4 22	$529.0K	$266.0K
Q1 23	$825.0K	—
Q2 23	$795.0K	—
Q3 23	$945.0K	$77.0K
Q4 23	$1M	—
Q1 24	$1M	—
Q2 24	$1M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$94M	$0	$94M
Q2 22	$83M	$0	$83M
Q3 22	$64M	$8M	$72M
Q4 22	$47M	$8M	$55M
Q1 23	$44M	$3M	$47M
Q2 23	$53M	$32M	$85M
Q3 23	$90M	$7M	$97M
Q4 23	$82M	$4M	$86M
Q1 24	$73M	$6M	$79M
Q2 24	$63M	$23M	$86M
Q3 24	$68M	$19M	$87M
Q4 24	$39M	$41M	$80M
Q1 25	$150M	$38M	$188M
Q2 25	$59M	$117M	$176M
Q3 25	$90M	$78M	$168M
Q4 25	$45M	$107M	$152M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	101M	+5.6%	+382.6%
Q2 22	102M	+1.5%	+7.2%
Q3 22	101M	-1.0%	+6.2%
Q4 22	106M	+5.0%	+11.5%
Q1 23	106M	-0.0%	+5.5%
Q2 23	107M	+0.3%	+4.3%
Q3 23	108M	+1.2%	+6.6%
Q4 23	110M	+1.4%	+3.0%
Q1 24	111M	+1.3%	+4.4%
Q2 24	115M	+3.7%	+7.9%
Q3 24	126M	+9.7%	+17.0%
Q4 24	122M	-3.9%	+10.9%
Q1 25	131M	+7.9%	+18.0%
Q2 25	132M	+0.9%	+14.8%
Q3 25	150M	+13.0%	+18.3%
Q4 25	133M	-11.2%	+9.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$19.7K	61
Q2 22	$23.3K	61
Q3 22	$8.2K	61
Q4 22	$7.6K	106
Q1 23	$7.8K	106
Q2 23	$7.5K	106
Q3 23	$9.7K	106
Q4 23	$10.9K	111
Q1 24	$9.4K	111
Q2 24	$10.0K	111
Q3 24	$14.5K	111
Q4 24	$19.9K	96
Q1 25	$16.0K	96
Q2 25	$12.5K	96
Q3 25	$9.2K	96
Q4 25	$9.2K	103

Revenue / Employee