NextNav Q1 2024 Earnings Report
Key Takeaways
NextNav reported a revenue increase to $1.0 million compared to $830,000 in the prior year period. The net loss was $31.6 million, including a $13.2 million loss on the fair value of warrants. The company filed a rulemaking petition with the FCC to enable the use of the Lower 900 MHz band for terrestrial 3D positioning, navigation, and timing services, along with 5G broadband.
Revenue increased to $1.0 million, driven by recurring service revenue from technology and services contracts.
Filed a petition with the FCC to rearrange the Lower 900 MHz band for 3D PNT and 5G broadband services.
Net loss was $31.6 million, which includes a loss on the fair value of warrants of $13.2 million.
Cash and cash equivalents totaled $73.3 million as of March 31, 2024.
NextNav
NextNav
Forward Guidance
The report does not include any forward guidance.