NEXTNAV INC. NN
We are the market leader in delivering resilient, next generation, complementary positioning, navigation and timing ("PNT") solutions designed to overcome the limitations and vulnerabilities of existing space-based Global Navigation Satellite Systems ("GNSS"), including the Global Positioning System ("GPS"). PNT services are used in nearly every facet of our economy. Cellular and electrical distribution systems depend on GPS-based timing, and the mobile app economy relies on location to create innovative services and to drive data and advertising revenue. Public safety and enhanced 911 ("E911") save lives every day with the use of location services. GPS has powered the global economy for nearly 40 years. Without high-precision timing from GPS, cellular systems would fail, the distribution of electricity would be impacted, and other aspects of everyday life would be adversely affected. Recent international events have demonstrated that having viable systems to backup and complement GPS is a national security issue.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $4.6M | $5.7M | $3.9M | $3.9M | $763.0K | $569.0K | — |
| Cost of revenue | — | $729.0K | $2.3M | $2.4M | $232.0K | $893.0K | — |
| Gross profit | — | $4.9M | $1.5M | $1.5M | $531.0K | -$324.0K | — |
| R&D | $19.0M | $16.2M | $19.5M | $17.1M | $9.5M | $8.8M | — |
| SG&A | $39.6M | $33.5M | $30.3M | $36.9M | $13.6M | $13.3M | — |
| Total operating expenses | $74.8M | $65.8M | $67.4M | $69.5M | $43.2M | $30.0M | — |
| Operating income | -$70.2M | -$60.1M | -$63.5M | -$65.5M | -$42.4M | -$29.5M | — |
| Interest expense | $12.4M | $9.4M | $3.7M | $901.0K | $17.8M | $10.0M | — |
| Pre-tax income | -$189.1M | -$101.7M | -$71.5M | -$40.1M | -$144.6M | -$137.3M | — |
| Income tax | $198.0K | $173.0K | $221.0K | $28.0K | $52.0K | $38.0K | — |
| Net income | -$189.3M | -$101.9M | -$71.7M | -$40.1M | -$144.7M | -$137.3M | — |
| EPS, basic | -1.42 | -0.84 | -0.66 | -0.40 | -6.73 | — | — |
| EPS, diluted | -1.42 | -0.84 | -0.66 | -0.40 | -6.73 | -23.20 | — |
| Shares, diluted (wtd. avg.) | 132,866 | 121,500 | 108.0M | 101.0M | 23,561 | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $44.8M | $39.3M | $81.9M | $47.2M | $100.1M | $13.7M | $14.5M |
| Short-term investments | $107.4M | $40.8M | $4.0M | $8.2M | — | — | — |
| Receivables | $2.3M | $3.3M | $2.3M | $2.2M | $1.7M | $77.0K | — |
| Total current assets | $157.4M | $86.0M | $91.2M | $61.2M | $106.3M | $18.1M | — |
| Property, plant and equipment | — | — | — | $19.2M | $21.8M | $1.3M | — |
| Goodwill | $19.2M | $17.0M | $18.0M | $17.5M | — | — | — |
| Other intangibles | $42.2M | $9.6M | $10.6M | $10.4M | $4.1M | $4.1M | — |
| Total assets | $247.0M | $161.7M | $162.2M | $123.8M | $136.8M | $44.9M | — |
| Accounts payable | $661.0K | $858.0K | $391.0K | $1.0M | $448.0K | $680.0K | — |
| Total current liabilities | $12.4M | $12.1M | $9.8M | $8.9M | $6.7M | $4.2M | — |
| Long-term debt | $273.6M | $54.6M | $48.4M | — | — | — | — |
| Total liabilities | $333.3M | $111.6M | $82.1M | $19.9M | $36.9M | $165.7M | — |
| Retained earnings | -$1.05B | -$862.1M | -$760.2M | -$688.5M | -$647.9M | -$490.3M | — |
| Total equity | -$86.2M | $50.1M | $80.1M | $103.9M | $99.4M | -$490.4M | -$327.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$50.7M | -$38.0M | -$35.4M | -$37.1M | -$47.9M | -$28.4M | — |
| Depreciation and amortisation | $7.8M | $5.2M | $4.8M | $3.7M | $1.8M | $235.0K | — |
| Stock-based compensation | $16.6M | $13.9M | — | — | — | — | — |
| Capital expenditure | $50.0K | $350.0K | $2.8M | $3.0M | $1.0M | $6.4M | — |
| Investing cash flow | -$64.6M | -$39.5M | $1.1M | -$15.7M | -$1.3M | -$7.2M | — |
| Financing cash flow | $120.5M | $35.1M | $69.0M | $43.0K | $135.6M | $34.8M | — |
| Buybacks | — | — | — | $4.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001554855-26-000328.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $569.0K | $763.0K | $3.9M | $3.9M | $5.7M | $4.6M |
| Gross profit | — | -$324.0K | $531.0K | $1.5M | $1.5M | $4.9M | — |
| Net income | — | -$137.3M | -$144.7M | -$40.1M | -$71.7M | -$101.9M | -$189.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3812
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NOC | NORTHROP GRUMMAN CORP /DE/ | $78.34B | 19.0x | 2.2% |
| GRMN | GARMIN LTD | $56.65B | 34.2x | 15.1% |
| LHX | L3HARRIS TECHNOLOGIES, INC. /DE/ | $47.29B | 29.8x | — |
| TDY | TELEDYNE TECHNOLOGIES INC | $28.99B | 33.1x | 7.9% |
| DRS | Leonardo DRS, Inc. | $9.21B | 33.5x | 12.8% |
| LUNR | Intuitive Machines, Inc. | $1.71B | — | -9.2% |
| CODA | Coda Octopus Group, Inc. | $103.3M | 24.8x | 30.7% |
| MIND | MIND TECHNOLOGY, INC | — | — | -12.6% |