NextNav Q4 revenue up but operating loss widens; agrees $50M spectrum acquisition

NEXTNAV INC.

Q4 revenue $1.2M (+49% YoY from $803K); operating loss $19.9M vs $14.5M prior year.
Full year 2023 net loss $71.7M (incl. $4.1M loss on warrants) vs $40.1M prior year.
Agreed to acquire 4 MHz in lower 900 MHz band for up to $50M; total spectrum now 3.5B MHz-PoPs.
Mariam Sorond appointed CEO effective Nov 29, 2023; John Muleta joined board Jan 2024.
Cash & equivalents $81.9M; short-term investments $4.0M; net debt $48.4M.

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 twelve months ended December 31, 2023 results: revenue $1.2 million in the three months ended December 31, 2023, net income Net Loss : was $ 16.4 million in the three months ended December 31, 2023.

Period: the three and twelve months ended December 31, 2023
Revenue: $1.2 million in the three months ended December 31, 2023
Net income: Net Loss : was $ 16.4 million in the three months ended December 31, 2023
Result: reported results

Exact text from the filing

NextNav Inc. issued a press release announcing its financial results for the three and twelve months ended December 31, 2023 .

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Source: SEC EDGAR

accession 0001213900-24-022164

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