NextNav Q2 revenue $0.8M, net loss $15.8M; closes $70M debt financing, signs chip licensing deal

NEXTNAV INC.

2023-Q2 EPS reported -$0.30 revenue$1,630,000

Revenue $0.8M for Q2 2023, down from $1.4M YoY; net loss $15.8M vs net income $0.8M prior year.
Closed $70M aggregate 10% senior secured notes due Dec 2026, with $50M in Q2 and $20M post-quarter.
Signed licensing agreement with top-tier global chip manufacturer for GPS positioning software; revenue expected H2 2023.
FCC approved experimental license using 5G waveform for resilient PNT services combined with 5G broadband data.
Selected by a nationwide U.S. carrier to deliver vertical location capabilities for E911 via Pinnacle service; first devices expected later 2023.

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