NextNav (NN) AI Stock Analysis

• Market Cap: $2.21B
• Dividend Yield: N/A
• Average Volume (3M): 1.21M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.37
• Revenue Growth: 11.61%
• EPS Growth: -54.84%
• Country: US
• Employees: 96
• Sector: Technology
• Sector Strength: 88
• Industry: Internet Content & Information
• EPS (TTM): -0.12
• Shares Outstanding: 134,829,090
• 10 Day Avg. Volume: 1,165,937
• 30 Day Avg. Volume: 1,208,137
• PEG Ratio: -0.68
• Price to Book (P/B): 37.72
• Price to Sales (P/S): 333.49
• P/FCF Ratio: -49.29
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 400.23
• Enterprise Value/Gross Profit: -619.76
• Enterprise Value/Ebitda: -33.82
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -1.22
• Revenue Forecast (FY): $5.04M

• Rating: 61 Neutral
• Price Target: $17.00 ▲(21.69% Upside)

NextNav's overall stock score is driven by strong technical momentum and positive corporate developments, offset by weak financial performance and challenging valuation metrics. The earnings call provided a positive outlook, but financial instability remains a significant concern.

Positive Factors

Strategic Partnerships

The extended agreement with AT&T enhances NextNav's market position by leveraging AT&T's infrastructure, supporting long-term growth in public safety applications.

Spectrum Acquisition

Acquiring additional spectrum strengthens NextNav's strategic position in the location services market, enabling expanded service offerings and competitive advantage.

Leadership Changes

The new CFO appointment brings experienced leadership to drive growth and optimize technological offerings, crucial for strategic execution and financial management.

Negative Factors

Financial Instability

Ongoing financial instability with high leverage and negative equity poses risks to NextNav's long-term financial health and operational flexibility.

Negative Profit Margins

Negative profit margins indicate substantial losses relative to revenue, challenging NextNav's ability to achieve profitability and sustain operations long-term.

Regulatory Uncertainty

Regulatory uncertainty with the FCC could delay NextNav's ability to commercialize its PNT technologies, impacting strategic plans and market entry.

NextNav Business Overview & Revenue Model

Company Description

NextNav Inc. provides next generation global positioning system (GPS) and 3D geolocation services. The company delivers next generation positioning, navigation, and timing solutions through its network-based Pinnacle and TerraPoiNT solutions. Its Pinnacle 3D geolocation service is commercially available in approximately 4,400 cities and towns in the United States; and its TerraPoiNT terrestrial-based encrypted network has deployments in 51 total markets nationally. The company sells its solutions directly to customers or through partners. The company was founded in 2007 and is headquartered in McLean, Virginia.

How the Company Makes Money

NextNav generates revenue primarily through the licensing of its proprietary technology and data solutions to various sectors, including government agencies, public safety organizations, and commercial enterprises. Key revenue streams include subscription-based services for real-time location data, one-time fees for integration and setup, and partnerships with telecommunications companies that leverage NextNav's technology for enhanced services. The company also benefits from collaborations with municipalities and urban planners, providing location services that support smart infrastructure and public safety initiatives, contributing significantly to its earnings.

NextNav Financial Statement Overview

Summary

NextNav is facing significant financial challenges across all key areas. The income statement shows persistent losses and declining revenue, while the balance sheet reveals high leverage and negative equity. Although there is some improvement in free cash flow, overall cash flow remains weak. The company needs to address its revenue generation and cost management to improve its financial health.

Income Statement

NextNav's income statement reveals significant challenges. The company has consistently reported negative gross profit margins, with the TTM (Trailing-Twelve-Months) gross profit margin at -43.74%. Net profit margins are also deeply negative, indicating substantial losses relative to revenue. Revenue growth has been negative in the TTM period, showing a decline of 11.50%. These factors highlight ongoing profitability issues and a lack of revenue growth.

Balance Sheet

The balance sheet shows a concerning financial structure with negative stockholders' equity in the TTM period, leading to a negative debt-to-equity ratio. This indicates that liabilities exceed assets, posing a risk to financial stability. The return on equity is positive due to negative equity, but this is not a sign of strength. Overall, the balance sheet reflects high leverage and financial instability.

Cash Flow

Cash flow analysis indicates some improvement, with a positive free cash flow growth rate of 4.68% in the TTM period. However, operating cash flow remains negative, and the operating cash flow to net income ratio is also negative, suggesting cash flow challenges. The free cash flow to net income ratio is slightly above 1, indicating that free cash flow covers net losses, but overall cash flow health remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	5.54M	5.67M	3.86M	3.93M	763.00K	569.00K
Gross Profit	-3.58M	-5.11M	-8.88M	-7.88M	-17.63M	-7.20M
EBITDA	-65.55M	-55.48M	-59.04M	-61.31M	-40.65M	-127.03M
Net Income	-153.56M	-101.88M	-71.73M	-40.12M	-144.67M	-137.34M
Balance Sheet
Total Assets	263.07M	161.74M	162.16M	123.79M	136.82M	44.90M
Cash, Cash Equivalents and Short-Term Investments	167.58M	80.11M	85.83M	55.45M	100.08M	8.67M
Total Debt	245.81M	71.44M	66.11M	7.82M	0.00	58.87M
Total Liabilities	285.19M	111.62M	82.06M	19.92M	36.87M	535.28M
Stockholders Equity	-22.12M	50.12M	78.73M	100.02M	99.96M	-490.38M
Cash Flow
Free Cash Flow	-47.15M	-38.36M	-38.19M	-40.67M	-49.21M	-35.58M
Operating Cash Flow	-46.62M	-38.01M	-35.44M	-37.09M	-47.93M	-28.41M
Investing Cash Flow	-56.77M	-39.47M	1.07M	-15.74M	-1.28M	-7.18M
Financing Cash Flow	125.44M	35.10M	68.98M	43.00K	135.64M	34.77M

NextNav Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.97
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NN, the sentiment is Positive. The current price of 13.97 is below the 20-day moving average (MA) of 14.24, above the 50-day MA of 13.57, and above the 200-day MA of 13.82, indicating a bullish trend. The MACD of 0.93 indicates Negative momentum. The RSI at 68.01 is Neutral, neither overbought nor oversold. The STOCH value of 86.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NN.

NextNav Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
NN	61 Neutral	$2.21B	―	-706.79%	―	11.61%	-54.84%
TRVG	55 Neutral	$206.09M	75.65	1.22%	―	17.38%	―
PODC	52 Neutral	$60.28M	―	-34.22%	―	20.01%	27.28%
CCG	52 Neutral	$79.16M	―	―	―	105.31%	95.66%
BODI	52 Neutral	$78.96M	-1.79	-102.66%	―	-37.41%	60.58%
SEAT	45 Neutral	$107.57M	―	-51.54%	―	-16.83%	-485.31%

NextNav Corporate Events

NextNav Extends Agreement with AT&T for Pinnacle Network

On October 9, 2025, NextNav LLC amended its agreement with AT&T Services, Inc. to extend the term of their Equipment, Network Colocation and Installation Agreement for the Pinnacle network operations by approximately two years, now expiring on October 28, 2028. This extension maintains the operational and financial terms of the original agreement, allowing NextNav to continue leveraging AT&T’s infrastructure for its public safety applications, while also retaining the flexibility to expand its network independently.

NextNav Finalizes Acquisition of M-LMS Licenses

NextNav Inc. finalized an Asset Purchase Agreement on September 19, 2025, acquiring M-LMS licenses from Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation for up to $50 million. This acquisition, paid in cash and common stock, includes potential future considerations contingent on FCC’s spectrum use flexibility, and strengthens NextNav’s position in the location services market.

NextNav Appoints Timothy Gray as New CFO

On September 21, 2025, NextNav Inc. appointed Timothy A. Gray as Executive Vice President and Chief Financial Officer, effective September 22, 2025. Gray, who previously served as CFO at Anterix Inc., brings extensive experience in finance and leadership to NextNav as it prepares for the commercialization of its technology. Concurrently, Christian Gates transitioned from CFO to Executive Vice President of Corporate Development, focusing on strategy and corporate growth. These leadership changes are aimed at driving the company’s next chapter of growth and optimizing its technological offerings in the lower 900 MHz band.