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Visual21 Nov 2025
Data center suppliers
NextNav (NN) investor relations material
NextNav Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
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.
Impact of FCC's next step on commercialization?
Explain the shift to stockholders' deficit.
How do investments align with revenue decline?
What is the next FCC milestone for PNT?
Detail Oscilloquartz integration's commercial role
Discuss strategy for warrant conversions
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Frequently asked questions
NextNav Inc. specializes in next-generation positioning, navigation, and timing (PNT) solutions, serving a broad spectrum of applications across various industries in the United States. The company's flagship products include Pinnacle, a vertical positioning network that leverages barometric pressure sensors to provide wide-area altitude services, and TerraPoiNT, which delivers resilient 3D PNT for both outdoor and indoor geolocation, aiming to surpass the limitations of traditional GPS technology. NextNav's technology caters to a diverse clientele, including sectors such as Wi-Fi, telecom, public safety, gaming, location-based applications, and critical infrastructure. The company is headquartered in McLean, Virginia, and its shares are listed on the Nasdaq.
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