NextNav Inc. provides positioning, navigation, and timing (PNT) solutions in the United States. The company offers Pinnacle, an accurate altitude service for ...
NextNav Inc. (Nasdaq: NN) is a technology company that develops and provides advanced Positioning, Navigation, and Timing (PNT) solutions, primarily in the United States. Founded in 2007 and headquartered in Reston, Virginia, the company focuses on delivering 3D PNT services that enhance GPS capabilities, particularly in indoor and urban environments ...NextNav Inc. (Nasdaq: NN) is a technology company that develops and provides advanced Positioning, Navigation, and Timing (PNT) solutions, primarily in the United States. Founded in 2007 and headquartered in Reston, Virginia, the company focuses on delivering 3D PNT services that enhance GPS capabilities, particularly in indoor and urban environments where satellite signals are weak or unavailable. NextNav's core products include Pinnacle, an accurate vertical positioning service for public safety applications, such as enhanced 911 (E911) for emergency calls, and TerraPoiNT, a terrestrial 3D PNT system that provides resilient positioning, navigation, and timing services through a land-based network of beacons, offering a complement or alternative to GPS. The company serves a diverse range of industries, including Wi-Fi, telecommunications, public safety, location-based applications, and critical infrastructure. Its technology is essential for applications such as emergency response, asset tracking, and drone navigation. As of the latest data, NextNav employs approximately 103 people and is publicly traded on NASDAQ. The company is led by CEO Mariam Sorond, with co-founder Ganesh Pattabiraman and Dr. Arun Raghupathy as key technical leaders. Financially, NextNav is a growth-stage company with significant investments in research and development, resulting in negative operating margins and cash flows. The company has a strong balance sheet with a high current ratio (10.485) and relatively low debt-to-market cap (0.121), indicating it is well-capitalized for future development. NextNav aims to revolutionize the geolocation industry by providing more accurate and reliable PNT solutions, with aspirations to become a foundational layer for various high-tech applications, including autonomous vehicles, smart infrastructure, and augmented reality. Despite current losses, the company's innovative approach and strategic spectrum assets position it for potential long-term growth.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$4.6M
-19.3%
+15.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-189.3M
-85.8%
-217.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-256.2%
-184.4%
+70.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-1535.8%
-44.9%
+9.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-4138.5%
-130.3%
-175.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-50.8M
-32.4%
-80.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-1110.8%
-64.2%
-56.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-334.7%
-334.8%
+101.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
12.71x
+79.4%
+144.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello, everyone. Thank you for joining us, and welcome to the NextNav Second Quarter 2026 Earnings Call. [Operator Instructions] I will now hand the conference over to Jared Pollack. Jared, please go ahead.
Jared Pollack: Good afternoon, everyone, and welcome to NextNav's Second Quarter 2026 Earnings Conference Call. Participating on today's call are Mariam Sorond, NextNav's Chief Executive Officer; and Tim Gray, NextNav's Chief Financial Officer. Before we begin, let me remind everyone that this call will include certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of the words may, anticipate, believe, expect, intend, should, could and similar expressions. Such forward-looking statements, which may relate to NextNav's forecast of future results, future prospects, developments, business strategies are subject to known and unknown risks, uncertainties and assumptions, many of which are outside NextNav's control and could cause actual results to differ. In particular, such forward-looking statements include the achievement of certain FCC-related milestones and FCC approvals; NextNav's projections, plans, objectives and expectations; and NextNav's future business strategies and competitive position. These statements are based on management's current expectations and beliefs as well as a number of assumptions concerning future events. You are cautioned not to place undue reliance upon the forward-looking statements, which speak only as of the date made, and NextNav undertakes no commitment to update or revise the forward-looking statements, except as required by law. For additional information regarding risks and uncertainties, please refer to the risk factors and other disclosures contained in the company's filings with the SEC. Following prepared remarks, the company will host an operator-led question-and-answer session. In addition, a replay of our discussion will be posted to the company's Investor Relations website. I'd now like to turn the call over to Ms. Sorond. Please go ahead, Mariam.
Mariam Sorond: Thank you, Jared. Good afternoon, and thank you all for joining us today. Since our last earnings call, we have strengthened our position across every dimension of our business from balance sheet and strategic partnerships to our regulatory engagement and technical validation. Financially, we took decisive actions that transformed our balance sheet and increased available liquidity to approximately $300 million. This enhanced financial position provides NextNav with substantial resources and flexibility to execute our strategy from a position of considerable financial strength. Tim will provide more details shortly. Operationally, I'd like to highlight our recently announced partnership with Safran Electronics & Defense, an important milestone that enables NextNav to demonstrate the potential of …
