NextNav (NN) investor relations material

Executive summary

• Achieved major technical milestones in 5G-based 3D PNT, including successful integration with standard 5G equipment and demonstrations at industry events such as Mobile World Congress 2025.

• Extended key partnership with AT&T for Pinnacle Network operations through October 2028, supporting public safety and FirstNet applications.

• Closed acquisition of 128 additional lower 900 MHz band spectrum licenses in September 2025, expanding the asset base for PNT and 5G services.

• Focused on developing a next-generation 5G-based 3D PNT network as a terrestrial complement and backup to GPS, leveraging valuable spectrum assets.

• Holds licenses covering over 96% of the U.S. population and more than 4 billion MHz-POPs, positioning as a key player in national PNT infrastructure.

Financial highlights

• Q3 2025 revenue was $0.9 million, down 44.8% year-over-year, with net income of $0.5 million compared to a net loss of $13.6 million in Q3 2024.

• Ended Q3 2025 with $167.6 million in cash, cash equivalents, and short-term investments, providing significant liquidity.

• Recognized $23.6 million in non-cash gains from changes in fair value of derivative and warrants liability in Q3 2025.

• Issued $190 million in 5% Senior Secured Convertible Notes due 2028, using proceeds to redeem $70 million of 2026 Notes.

• Total assets increased to $263.1 million from $161.7 million at year-end 2024.

Outlook and guidance

• Management expects continued losses and higher operating expenses as investments in R&D and network expansion persist.

• Cash and marketable securities of $167.6 million as of September 30, 2025 are expected to cover working capital and capital expenditures beyond the next 12 months.

• Focused on advancing PNT resiliency for national security, public safety, and economic stability, with no specific guidance on FCC NPRM timing.

• Plans to partner for deployment capital expenditures for 5G-based 3D PNT and broadband infrastructure, leveraging existing telecom networks.