Financial Data and Key Metrics Changes - NextNav's revenue in Q3 2024 was $1.6 million, an increase of $0.6 million from $1.0 million in the prior year period [24] - For the nine-month period, revenue was $3.8 million, up $1.1 million from $2.7 million in 2023 [24] - Operating expenses for Q3 were $15.5 million, down approximately $0.1 million compared to the same period last year [24] - Net loss for Q3 was $13.6 million, compared to a net loss of $23.2 million in Q3 2023 [25] Business Line Data and Key Metrics Changes - The increase in revenue for both the three and nine-month periods was driven by an increase in service revenue from technology and services contracts with government and commercial customers [24] Market Data and Key Metrics Changes - The Brattle Group's analysis indicated that a 1-day global GPS outage could cost the American economy $1.6 billion, while NextNav's proposal could prevent a loss of $663 million [19] - For a 30-day outage, the loss could reach $58.2 billion, but NextNav's proposal could prevent nearly $31.9 billion of net loss [19] Company Strategy and Development Direction - NextNav is focused on advancing its strategic vision to provide a terrestrial complement and backup to GPS, addressing national security needs [8][9] - The company is engaged in ongoing discussions with stakeholders, including railroads and tolling operators, to minimize disruptions and ensure coexistence with existing licensed operations [12][13] - The company aims to leverage its unique position as the only viable wide-scale terrestrial PNT proposal [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the FCC's understanding of the urgency for a terrestrial PNT solution, highlighting the importance of their proposal for national security [9][10] - The company does not anticipate an NPRM (Notice of Proposed Rulemaking) in 2024, but is prepared for further engagement with the FCC [21][35] Other Important Information - NextNav finished the quarter with $86.8 million in cash, cash equivalents, and short-term investments, benefiting from $6.9 million in proceeds from additional warrant exercises [27] - The company is committed to a disciplined approach to capital management [27] Q&A Session Summary Question: Any updates on discussions with stakeholders like Edison Electric Institute or NTIA? - Management confirmed ongoing dialogue with over 110 stakeholders, emphasizing the importance of fact-based discussions [30] Question: Will the NTIA's recommendation for short-term experimental licenses lead to testing? - Management views the NTIA's call for testing as a helpful procedural tool to encourage engagement from incumbents [31] Question: How does NextNav view the development of resilient LEO space-based PNT? - Management agrees that a system of systems approach, including both satellite and terrestrial elements, is essential for comprehensive solutions [33] Question: What is the timeline for the NPRM and subsequent events? - Management stated that the timeline for an NPRM or report is uncertain and will depend on the FCC's actions [39] Question: What are the vulnerabilities of satellite signals compared to terrestrial networks? - Management explained that terrestrial networks provide more resilience against spoofing and jamming, which are easier to execute on weaker satellite signals [41] Question: How does the federal government use the spectrum? - Management clarified that federal use of the spectrum is primary, with military applications being a significant focus [55]

NextNav Inc. (NN) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.67%. A quarter ago, it was expected that this company would post a loss of $0.15 per share when it actually produced a loss of $0.21, delivering a surprise of -40%.Over the last four quarters, the company has surpassed conse ...

Revenue Performance - Revenue increased by $0.6 million, or 56.5%, to $1.6 million for the three months ended September 30, 2024, compared to $1.0 million for the same period in 2023[120]. - Revenue for the nine months ended September 30, 2024, was $3.8 million, an increase of $1.1 million or 41.4% from $2.7 million for the same period in 2023[127]. Customer Concentration - For the three months ended September 30, 2024, one customer accounted for 54% of total revenue, while another accounted for 32%[120]. Patent and Network Coverage - The company held approximately 161 patents related to its systems and services as of September 30, 2024[102]. - The Pinnacle network covers over 90% of commercial structures over three stories in the U.S.[104]. - TerraPoiNT is deployed and available with metro-wide service in the San Francisco Bay Area and select services in over 90 markets nationally as of September 2024[107]. Operating Expenses - Total operating expenses for the three months ended September 30, 2024, were $15,647 thousand, compared to $15,459 thousand for the same period in 2023[117]. - Selling, general and administrative expenses increased by $1.9 million, or 30.3%, to $8.0 million for the three months ended September 30, 2024, from $6.2 million for the same period in 2023[123]. - Selling, general and administrative expenses increased by $5.8 million, or 31.2%, to $24.6 million for the nine months ended September 30, 2024, from $18.7 million for the same period in 2023[132]. Research and Development - The company expects research and development costs to increase as it continues to invest in current and future products[110]. - Research and development expenses decreased by $1.5 million, or 29.2%, to $3.5 million for the three months ended September 30, 2024, from $5.0 million for the same period in 2023[122]. - Research and development expenses for the nine months ended September 30, 2024, decreased by $2.3 million, or 15.5%, to $12.3 million from $14.6 million for the same period in 2023[129]. Losses and Financial Performance - Operating loss for the three months ended September 30, 2024, was $(14,620) thousand, compared to $(13,852) thousand for the same period in 2023[117]. - The company incurred net losses of $69.6 million and $55.3 million for the nine months ended September 30, 2024, and 2023, respectively[136]. - The net loss for the nine months ended September 30, 2024 was $69.6 million, compared to a net loss of $55.3 million for the same period in 2023, representing a 25.0% increase in losses[142][143]. Cash Flow and Investments - Net cash used in operating activities for the nine months ended September 30, 2024 was $26.1 million, compared to $24.6 million for the same period in 2023, reflecting an increase of 6.1%[142][143]. - Net cash used in investing activities during the nine months ended September 30, 2024 was $17.7 million, significantly higher than $1.5 million in the same period of 2023, indicating a substantial increase in investment activities[144][145]. - Cash used for asset purchase agreements in investing activities for the nine months ended September 30, 2024 was $2.7 million, indicating ongoing investment in growth initiatives[144]. - The company experienced a net increase in operating liabilities of $7.0 million during the nine months ended September 30, 2024, which helped offset some of the cash used in operating activities[142]. Financing Activities - Net cash provided by financing activities for the nine months ended September 30, 2024 was $29.7 million, a decrease of 57.0% from $69.0 million in the same period of 2023, primarily due to reduced cash proceeds from financing[146]. - Cash proceeds from the exercise of warrants and stock options contributed to the net cash provided by financing activities in 2024[146]. Other Financial Metrics - Interest expense, net increased by $0.5 million, or 27%, to $2.2 million for the three months ended September 30, 2024, from $1.7 million for the same period in 2023[125]. - Other income was $2.5 million for the three months ended September 30, 2024, compared with other expense of $6.8 million for the same period in 2023, a change of $9.3 million[126]. - Non-cash charges for stock-based compensation during the nine months ended September 30, 2024 were $11.2 million, slightly lower than $12.6 million in the same period of 2023[142][143]. - The company reported a non-cash income of $2.2 million for the change in fair value of asset purchase agreement liability during the nine months ended September 30, 2024[142]. Market Risks - There were no material changes in market risks compared to those disclosed in the 2023 Form 10-K[148].

Exhibit 99.1 NextNav Inc. Reports Third Quarter 2024 Results The Brattle Group Analysis Finds Total Quantified Value of Having a GPS Backup is $14.6 billion NextNav Continues Engineer-to-Engineer Dialogue with Appropriate Stakeholders RESTON, VA., November 13, 2024 – NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported financial results for NextNav's third quarter ended September 30, 2024. Mariam Sorond, NextNav CEO said, "In the ...

The Brattle Group Analysis Finds Total Quantified Value of Having a GPS Backup is $14.6 billion NextNav Continues Engineer-to-Engineer Dialogue with Appropriate Stakeholders RESTON, Va., Nov. 13, 2024 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported financial results for NextNav’s third quarter ended September 30, 2024. Mariam Sorond, NextNav CEO said, “In the third quarter, we continued efforts to advance ...

Wall Street expects a year-over-year increase in earnings on higher revenues when NextNav Inc. (NN) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 1 ...

NextNav Inc. (NN) shares ended the last trading session 7.7% higher at $12.87. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 53.6% gain over the past four weeks.The stock benefits from the company’s pioneering 3D geolocation technology, meeting the rising demand for precise location data in sectors like public safety and augmented reality. Strong partnerships, a solid patent portfolio, and a favorable regulatory ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

NextNav, Inc. (NASDAQ:NN) Q2 2024 Earnings Conference Call August 7, 2024 5:00 PM ET Company Participants Erica Bartsch - Investor Relations Mariam Sorond - Chair and CEO Chris Gates - CFO Conference Call Participants Matthew Miles - B. Riley Securities Operator Thank you for standing by. My name is Trilla, and I will be your conference operator today. At this time, I would like to welcome everyone to the NextNav Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any ...

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