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NextNav
(NASDAQ:NN)
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Rating:46Neutral
Price Target:
$12.50
▲(0.48% Upside)
Action:Reiterated
Date:07/21/26
The score is pulled down primarily by very weak financial performance (declining revenue, negative gross profit, negative equity, and sustained cash burn) and bearish technicals (below key moving averages with negative MACD). These are partially offset by a more positive earnings-call profile centered on regulatory/technical milestones and liquidity, plus corporate actions that may improve capital structure.
Positive Factors
Substantial low‑band spectrum assets
Control of ~4 billion MHz‑POPs in low‑band 900/lower‑900 MHz is a durable strategic asset that supports wide geographic coverage, creates high barriers to entry for terrestrial PNT competitors, and underpins long‑term monetization opportunities for public safety and infrastructure customers.
Negative Factors
Persistent negative cash generation
Consistent negative operating and free cash flow, with TTM FCF deterioration, signals ongoing cash burn that will require external funding or material margin improvement to sustain operations; this constrains capital allocation and increases long‑term dilution or refinancing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Substantial low‑band spectrum assets
Control of ~4 billion MHz‑POPs in low‑band 900/lower‑900 MHz is a durable strategic asset that supports wide geographic coverage, creates high barriers to entry for terrestrial PNT competitors, and underpins long‑term monetization opportunities for public safety and infrastructure customers.
Read all positive factors
NextNav (NN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.83B
Dividend YieldN/A
Average Volume (3M)2.37M
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue Growth-34.62%
EPS Growth-4.18%
CountryUS
Employees103
SectorTechnology
Sector Strength88
IndustryConsumer Electronics
Share Statistics
EPS (TTM)-1.18
Shares Outstanding136,436,940
10 Day Avg. Volume2,624,166
30 Day Avg. Volume2,370,843
Financial Highlights & Ratios
PEG Ratio-0.17
Price to Book (P/B)-25.64
Price to Sales (P/S)483.47
P/FCF Ratio-43.53
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$33.67Price Target Upside170.63% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.52
Revenue Forecast (FY)$3.79M
NextNav Business Overview & Revenue Model
Company Description
NextNav Inc. provides positioning, navigation, and timing (PNT) solutions in the United States. The company offers Pinnacle, an accurate altitude service for public safety applications, including enhanced 911 for Verizon and national cellular netw...
How the Company Makes Money
NextNav’s revenue model is based on monetizing its 3D positioning capabilities through a mix of technology/platform offerings and related services. Key revenue streams include: (1) licensing and/or subscription-style fees for access to its vertica...
NextNav Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful regulatory and technical progress (NPRM advancement, experimental authorizations, successful coexistence testing), strong strategic positioning (spectrum assets, partnerships, industry engagement) and a solid cash base ($143M). Key risks remain: an ongoing net loss (~$10.6M), political opposition and timing uncertainty from interagency reviews, and reliance on contingent warrant proceeds (> $200M potential) which depend on stock performance. On balance, positive regulatory and strategic momentum and a healthy liquidity position outweigh the financial and regulatory uncertainties.Positive Updates
FCC NPRM Progress
FCC moved forward to formally send a Notice of Proposed Rulemaking (NPRM) focused on promoting PNT technologies — management views this as a critical regulatory milestone that advances consideration of GPS backups and complements.
Negative Updates
Reported Net Loss for the Quarter
Recorded a net loss of approximately $10.6 million in Q1 2026; operating profitability has not been achieved.
Read all updates
Q1-2026 Updates
Positive
Negative
FCC NPRM Progress
FCC moved forward to formally send a Notice of Proposed Rulemaking (NPRM) focused on promoting PNT technologies — management views this as a critical regulatory milestone that advances consideration of GPS backups and complements.
Read all positive updates
Company Guidance
Management's guidance emphasized financial strength and continued disciplined execution: Q1 2026 cash and short‑term investments of roughly $143 million, the potential to raise in excess of $200 million from warrants expiring in October (contingent on stock price), continued capital discipline, plus Q1 noncash gains of about $12.6 million from revaluation of private warrants/derivative liabilities that partially offset a GAAP net loss of approximately $10.6 million. On the regulatory and technical front they reiterated rights to ~4 billion MHz‑POPs in the 900/lower‑900 MHz band, ongoing FCC‑authorized field testing (5G PNT in Santa Clara and railroad testing in Pueblo), a live RFID coexistence demo at a 20‑foot separation in the lower‑900 MHz band, and PNT simulations indicating GPS‑comparable, single‑digit accuracy and timing synchronization while the FCC NPRM remains in interagency/OIRA review.NextNav Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.03M | 4.57M | 5.67M | 3.86M | 3.93M | 763.00K |
| Gross Profit | -8.39M | -11.72M | -5.11M | -8.88M | -7.88M | -17.63M |
| EBITDA | -129.95M | -168.86M | -87.69M | -63.36M | -61.31M | -124.99M |
| Net Income | -141.29M | -189.25M | -101.88M | -71.73M | -40.12M | -144.67M |
Balance Sheet | ||||||
| Total Assets | 235.64M | 248.09M | 161.74M | 162.16M | 123.79M | 136.82M |
| Cash, Cash Equivalents and Short-Term Investments | 142.96M | 152.14M | 80.11M | 85.83M | 55.45M | 100.08M |
| Total Debt | 281.47M | 288.60M | 71.44M | 66.11M | 7.82M | 0.00 |
| Total Liabilities | 325.61M | 334.33M | 111.62M | 82.06M | 19.92M | 36.87M |
| Stockholders Equity | -89.97M | -86.23M | 50.12M | 78.73M | 100.02M | 99.96M |
Cash Flow | ||||||
| Free Cash Flow | -48.85M | -50.80M | -38.36M | -38.19M | -40.67M | -49.21M |
| Operating Cash Flow | -48.61M | -50.74M | -38.01M | -35.44M | -37.09M | -47.93M |
| Investing Cash Flow | -71.72M | -64.55M | -39.47M | 1.07M | -15.74M | -1.28M |
| Financing Cash Flow | 543.00K | 120.48M | 35.10M | 68.98M | 43.00K | 135.64M |
NextNav Technical Analysis
Negative
12.44
Price Trends
17.68
Negative
18.00
Negative
16.44
Negative
Market Momentum
-1.66
Positive
27.42
Positive
13.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NN, the sentiment is Negative. The current price of 12.44 is below the 20-day moving average (MA) of 14.33, below the 50-day MA of 17.68, and below the 200-day MA of 16.44, indicating a bearish trend. The MACD of -1.66 indicates Positive momentum. The RSI at 27.42 is Positive, neither overbought nor oversold. The STOCH value of 13.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NN.
NextNav Risk Analysis
NextNav disclosed 47 risk factors in its most recent earnings report. NextNav reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NextNav Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $2.66B | 27.10 | 5.70% | ― | 26.61% | ― | |
62 Neutral | $105.09M | -32.85 | -16.01% | ― | 18.33% | 59.23% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $72.35M | 13.54 | 18.73% | ― | -37.04% | ― | |
47 Neutral | $83.17M | -0.13 | -567.03% | ― | -28.88% | -15473.93% | |
46 Neutral | $1.83B | -12.43 | 230.18% | ― | -34.62% | -4.18% | |
43 Neutral | $32.82M | -13.11 | -5.11% | ― | ― | ― |
* Technology Sector Average
NN
NextNav
13.11
-1.70
-11.48%
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15.39
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-42.14%
BODI
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PODC
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3.39
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NextNav Corporate Events
Business Operations and StrategyPrivate Placements and Financing
NextNav to Redeem 5% Convertible Notes, Simplifying Capital
Positive
Jun 16, 2026
On June 15, 2026, NextNav announced it will redeem all of its outstanding 5.00% Senior Secured Convertible Notes due 2028, after stock price conditions in the note terms were met. The notes, totaling about $186.5 million in principal as of that da...
Executive/Board ChangesShareholder Meetings
NextNav Shareholders Back Board Slate and Auditor Retention
Positive
May 27, 2026
On May 21, 2026, NextNav Inc. held its 2026 Annual Meeting of Stockholders, at which shareholders elected ten director nominees, including Mariam Sorond, Lisa Hook, and others, to serve on the board until the 2027 annual meeting or until their suc...
Business Operations and Strategy
NextNav Announces Redemption of Outstanding Public Stock Warrants
Neutral
May 27, 2026
On May 27, 2026, NextNav Inc. announced it will redeem all of its outstanding public warrants to purchase common stock, setting June 26, 2026 as the redemption date and a cash redemption price of $0.01 per warrant. Public warrant holders may elect...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.