NextNav Q3 revenue $1.0M (+99% YoY); net loss widens to $23.2M

NEXTNAV INC.

2023-Q3 EPS reported -$0.51 revenue$2,657,000

Revenue of $1.0M vs $503K in prior year period; 9-month revenue $2.7M vs $3.1M.
Operating loss improved to $14.6M from $17.9M; net loss $23.2M vs $18.7M.
Cash and equivalents $90.1M; $47.1M debt net of discount (gross $70M).
Deployed 5G test network in Palo Alto; signed contract for federal GPS/PNT efforts.
Pinnacle-enabled devices now contracted across five wireless carriers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEXTNAV INC. reported the three and nine months ended September 30, 2023 results: revenue $ 1.0 million.

Period: the three and nine months ended September 30, 2023
Revenue: $ 1.0 million
Result: reported results

Exact text from the filing

expand its capabilities into additional U.S. markets upon completion of the initial phase. Three and Nine Months Ended September 30, 2023 , Financial Highlights: Revenue: was $ 1.0 million in the three months ended September 30, 2023 , as compared to $ 503,000 in the prior year period. The increase was primarily attributable to increased recurring service revenue

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Source: SEC EDGAR

accession 0001213900-23-084741

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