NextNav Q1 revenue $1.0M, net loss $31.6M; files FCC petition for Lower 900 MHz

NEXTNAV INC.

2024-Q1 EPS reported -$0.28 revenue$1,046,000

Revenue $1.0M in Q1 2024, up from $830K YoY, driven by recurring service contracts.
Net loss $31.6M (includes $13.2M loss on warrant fair value) vs $16.3M in prior year.
Cash & equivalents $73.3M; short-term investments $5.9M; net debt $49.9M (gross $70.0M).
Filed FCC rulemaking petition on Apr 16, 2024 to rearrange Lower 900 MHz for 3D PNT and broadband.
Court approved sale of licenses for additional 4 MHz in Lower 900 band, pending FCC approval.

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 months ended March 31, 2024 results: revenue $1.0 million, net income $31.6 million.

Period: the three months ended March 31, 2024
Revenue: $1.0 million
Net income: $31.6 million
Result: reported results

Exact text from the filing

On May 8, 2024 , NextNav Inc. issued a press release announcing its financial results for the three months ended March 31, 2024 . A full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

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NEXTNAV INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-040861

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