NextNav Inc.

$15.72

+2.41%

N/A+$0.37

Technology

Software - Infrastructure

NASDAQ

Active Trading

NextNav Inc. provides positioning, navigation, and timing (PNT) solutions in the United States. The company offers Pinnacle, an accurate altitude service for ...

Supply Chain of NN

Upstream

Foundry, packaging, memory, wafers, components, and input vendors.

Upstream

Bosch Sensortec GmbH (subsidiary of Robert Bosch GmbH)

GCT Semiconductor Holding, Inc.

Lekha Wireless Solutions Pvt. Ltd.

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Samsung Electronics Co., Ltd.

Qualcomm Technologies, Inc.

NASDAQ:QCOM

Chipset integration partner — NextNav Pinnacle vertical location integrated into Qualcomm Location Suite for Android devices

Broadcom Inc.

NASDAQ:AVGO

Chipset integration partner — historical agreement to integrate NextNav location tech into mass-market GNSS connectivity platforms

Bosch Sensortec GmbH (subsidiary of Robert Bosch GmbH)

Sensor technology partner — collaboration to elevate barometric pressure sensor performance for altitude accuracy in smartphones, wearables, and drones

GCT Semiconductor Holding, Inc.

NYSE:GCTS

Semiconductor integration partner — integrated NextNav TerraPoiNT technology into GCT's LTE modem chips for mass-market timing/critical infrastructure applications

Lekha Wireless Solutions Pvt. Ltd.

5G infrastructure equipment supplier — provided PRS (Positioning Reference Signal) enabled 5G base stations for NextNav's 5G-based 3D PNT solution demonstrations and commercialization

Downstream

Customers, distributors, OEMs, and channels that absorb output.

Downstream

Sonim Technologies Inc. (now DNA X, Inc.)

MetCom, Inc.

Space Compass Corporation (JV: NTT + SKY Perfect JSAT)

First Due

TRX Systems

Verizon Communications Inc.

NYSE:VZ

Mobile network operator — Sonim XP3plus phone with NextNav Pinnacle vertical location made available to Verizon and Verizon Frontline customers for E911/public safety

AT&T Inc.

NYSE:T

Potential mobile network operator — identified as target customer for 5G-based PNT services; FirstNet integration via API catalog

T-Mobile US, Inc.

NASDAQ:TMUS

Potential mobile network operator — identified as target customer for terrestrial PNT services via carrier infrastructure

Sonim Technologies Inc. (now DNA X, Inc.)

NASDAQ:SONM

Device OEM partner — integrated NextNav Pinnacle into XP3plus rugged flip phone for Verizon FirstNet/public safety use

MetCom, Inc.

Strategic licensee — licensed NextNav's 5G PNT waveform and receiver technology to build a terrestrial 5G timing/PNT network in Japan; expanded partnership Dec 2025

Proxies

Public comparables and monitoring names used as representatives for the analysis.

Proxies

GCT Semiconductor Holding Inc.

Verizon Communications Inc.

Qualcomm Inc.

NASDAQ:QCOM

Qualcomm is NextNav's most critical upstream chipset integration partner. NextNav's Pinnacle technology is embedded in the Qualcomm Location Suite, which ships in hundreds of millions of Android devices. Qualcomm's adoption provides the primary distribution channel for NextNav's software-based services.

GCT Semiconductor Holding Inc.

NYSE:GCTS

GCT integrated NextNav's TerraPoiNT technology into LTE modem chips for critical infrastructure timing applications. As a pure-play semiconductor company focused on 4G/5G, GCT's commercial traction with TerraPoiNT is a direct proxy for NextNav's non-handset PNT market penetration.

Verizon Communications Inc.

NYSE:VZ

Verizon is the most advanced commercial MNO partner for NextNav, with Sonim devices featuring Pinnacle available through Verizon Frontline. Verizon's public safety and enterprise adoption of vertical location services directly impacts NextNav's revenue trajectory.

Geographic

Region-level exposures that can distort the supply network.

Geographic

United States

Japan

India

Verizon Communications Inc.

AT&T Inc.

T-Mobile US, Inc.

Sonim Technologies Inc. (DNA X, Inc.)

MetCom, Inc.

Space Compass Corporation

Lekha Wireless Solutions Pvt. Ltd.

United States

Primary market & regulatory dependency

Verizon Communications Inc.NYSE:VZMobile network operator — primary go-to-market channel in US

AT&T Inc.NYSE:TPotential MNO customer / FirstNet integration

T-Mobile US, Inc.NASDAQ:TMUSPotential MNO customer

Japan

International expansion partner

MetCom, Inc.Strategic licensee for 5G PNT network deployment in Japan

Space Compass CorporationHAPS 5G Air-to-Ground PNT partner (JV: NTT + SKY Perfect JSAT)

India

5G infrastructure supplier dependency

Lekha Wireless Solutions Pvt. Ltd.5G base station equipment supplier for PRS-based PNT

Germany

Sensor technology dependency

Bosch Sensortec GmbH (Robert Bosch GmbH)Barometric sensor technology partner

Taiwan

Indirect semiconductor foundry dependency

Taiwan Semiconductor Manufacturing Co., Ltd.NYSE:TSMFoundry for Qualcomm/Broadcom/GCT chips enabling NextNav integration

Concentration

Customer, supplier, or partner concentration exposures that can distort the supply network.

Customer

Critical

Extreme customer concentration risk — NextNav has minimal revenue (~$3.8-4.6M annual) from a handful of early-adopter customers and is pre-commercial. No single customer accounts for material recurring revenue at scale.

Foundry

Medium

Indirect concentration on TSMC — all major chipset partners (Qualcomm, Broadcom, GCT) rely on TSMC for advanced node fabrication, creating single-point-of-failure risk for the device integration layer of NextNav's technology stack

Other

Critical

Single product/service line concentration — NextNav is entirely dependent on PNT technology commercialization with no diversified revenue streams. Failure of the PNT value proposition or market adoption would render the company non-viable.

Revenue mix

How the target's revenue mix translates into supply-chain leverage and dependency.

Commercial Services (PNT technology, Pinnacle, TerraPoiNT subscriptions/licensing)

100.0%

$0.0B

Single-segment company — all revenue derives from PNT services. Upstream dependency is on chipset integration partners (Qualcomm, Broadcom, GCT), sensor partners (Bosch Sensortec), and 5G infrastructure providers (Lekha Wireless) who enable device-level support for NextNav's services. Downstream, the business depends on mobile network operators (Verizon, AT&T, T-Mobile), public safety agencies, and device OEMs (Sonim) to distribute/embed the technology.

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Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer

NextNav Inc.

Supply Chain of NN

Upstream

Qualcomm Technologies, Inc.

Broadcom Inc.

Bosch Sensortec GmbH (subsidiary of Robert Bosch GmbH)

GCT Semiconductor Holding, Inc.

Lekha Wireless Solutions Pvt. Ltd.

STMicroelectronics N.V.

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Samsung Electronics Co., Ltd.

View More

Downstream

Verizon Communications Inc.

AT&T Inc.

T-Mobile US, Inc.

Sonim Technologies Inc. (now DNA X, Inc.)

MetCom, Inc.

Space Compass Corporation (JV: NTT + SKY Perfect JSAT)

First Due

TRX Systems

View More

Proxies

Qualcomm Inc.

GCT Semiconductor Holding Inc.

Verizon Communications Inc.

Geographic

United States

Japan

India

View More

Supply Chain of NN

Upstream

Qualcomm Technologies, Inc.

Broadcom Inc.

Bosch Sensortec GmbH (subsidiary of Robert Bosch GmbH)

GCT Semiconductor Holding, Inc.

Lekha Wireless Solutions Pvt. Ltd.

STMicroelectronics N.V.

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Samsung Electronics Co., Ltd.

View More

Downstream

Verizon Communications Inc.

AT&T Inc.

T-Mobile US, Inc.

Sonim Technologies Inc. (now DNA X, Inc.)

MetCom, Inc.

Space Compass Corporation (JV: NTT + SKY Perfect JSAT)

First Due

TRX Systems

View More

Proxies

Qualcomm Inc.

GCT Semiconductor Holding Inc.

Verizon Communications Inc.

Geographic

United States

Japan

India

View More