NextNav Inc. Reports Second Quarter 2026 Results and Operational Highlights

NextNav Inc. Reports Second Quarter 2026 Results and Operational Highlights 08/11/2026 NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported its financial results and operational updates for the quarter ended June 30, 2026. “We are pleased to have strengthened our position across every dimension of our business, from our balance sheet and strategic partnerships to our regulatory engagement and technology validation,” said Mariam Sorond, CEO of NextNav. “We continue to work constructively through the FCC and interagency process while demonstrating the real-world capabilities of our terrestrial 5G-powered 3D PNT solution. Our conviction remains unchanged that NextNav can play a critical role in enabling a resilient, future-proof complement and backup to GPS. We have full trust in an FCC process that has, time and time again, successfully resolved spectrum matters through a transparent, engineering-driven process.” Operational Highlights Today, NextNav is pleased to announce Tiami Networks as a sensing ecosystem partner supporting the development of 900 MHz 5G-PRS-based counter-UAS detection solutions for homeland security and critical infrastructure applications. This partnership further advances NextNav’s wide-area sensing capabilities for counter-UAS detection.On July 29, 2026, NextNav announced a partnership with Safran Electronics & Defense, an important milestone that enables NextNav to demonstrate the potential of our terrestrial 5G-powered PNT solution in real-world operating environments and validate its role within future resilient PNT ecosystems. The collaboration will integrate and demonstrate interoperability between NextNav’s terrestrial 5G PNT Network and Safran’s navigation and timing receivers. Details can be found here.On June 10, 2026, NextNav announced it has joined GSMA and industry partners in an industry-first call to action to collaborate in the drone ecosystem for safe, trusted, scalable drone operations in expanding market. Details can be found here.On May 19, 2026, NextNav announced real-world field validation of timing accuracy of approximately 20 nanoseconds (billionths of a second), demonstrating how NextNav’s planned 5G-powered 3D PNT solution can deliver timing information to serve critical infrastructure needs. Details can be found here. Financial Highlights Balance Sheet: As of June 30, 2026, the Company held approximately $228.8 million in cash, cash equivalents, and marketable securities. In addition, approximately $69.3 million of warrant exercise proceeds were recorded as other current assets as of June 30, 2026, which were subsequently collected in on July 1, 2026, resulting in total available liquidity of approximately $298 million.On May 27, 2026, NextNav announced the redemption of all outstanding Public Warrants, with the redemption completed on June 26, 2026. Holders exercised approximately 14.8 million warrants for cash at the contractual exercise price of $11.50 per warrant, generating approximately $169.5 million of gross proceeds. The remaining 318 thousand warrants were redeemed for $0.01 per warrant, eliminating the public warrant overhang.On June 15, 2026, the Company exercised its optional redemption right under the indenture governing its $190 million 5.00% Senior Secured Convertible Notes due 2028. Prior to the June 25, 2026 redemption date, all noteholders elected to convert their outstanding notes and unpaid accrued interest into approximately 15.2 million shares of common stock, resulting in no cash redemption and eliminating all outstanding convertible debt and related derivative liabilities as of June 30, 2026. Conference Call Information NextNav will host a conference call for analysts and investors at 5:00 pm ET on Tuesday, August 11, 2026. Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://events.q4inc.com/attendee/857071314. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast. To access the live webcast or a replay, visit the Company’s investor relations website at https://ir.nextnav.com/. To receive replay details, please register through the link above. After registering for replay details, each participant will be provided with call details and access codes to listen to the call playback. About NextNav Inc. NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation’s largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com. For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/. Forward-Looking Statements This press release contains “forward‑looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward‑looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of NextNav’s management and are not predictions of actual performance. These forward‑looking statements are subject to a number of risks and uncertainties, including, but not limited to, the following factors: the failure to realize the anticipated benefits of, or achieve commercial acceptance for, NextNav’s technology across targeted industries (including public safety and mobility); difficulties, delays, or unforeseen challenges in the development, deployment, operation, or integration of NextNav’s network, assets, software, or other technologies, including its next‑generation terrestrial 3D PNT technology; adverse regulatory developments, including action or inaction by the Federal Communications Commission (“FCC”) or other federal or state governmental authorities affecting spectrum allocation, location‑based services, the use of licensed spectrum, or E911 or related requirements; the outcome and timing of NextNav’s pending petition for rulemaking before the FCC and the possibility that the FCC may not issue a notice of proposed rulemaking (“NPRM”), may delay or decline to adopt a subsequent report and order (“R&O”), or may adopt rules that differ materially from those sought by NextNav; opposition to NextNav’s regulatory efforts from third parties; legislative or executive branch actions, including appropriations or other measures, that could limit, condition, delay, or prevent FCC action; interagency review and coordination processes that may identify issues, impose conditions, require modifications to NextNav’s proposals, or result in additional delays or a decision not to proceed with rulemaking; and NextNav’s ability to execute its business plan, including entering into and maintaining strategic partnerships, managing growth, and achieving or sustaining profitability. These factors are not exhaustive. Additional risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward‑looking statements are described in NextNav’s filings with the Securities and Exchange Commission, including, but not limited to, the “Risk Factors” section of NextNav’s most recent Annual Report on Form 10‑K and subsequent Quarterly Reports on Form 10‑Q. If any of these risks materialize, or if NextNav’s assumptions prove incorrect, actual results could differ materially from those contemplated by the forward‑looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date they are made. Except as required by law, NextNav undertakes no obligation to publicly update or revise any forward‑looking statements to reflect subsequent events or circumstances. . NEXTNAV INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE DATA) June 30, 2026 (unaudited) December 31, 2025 Assets Current assets: Cash and cash equivalents $ 77,715 $ 44,757 Short term investments 151,122 107,381 Accounts receivable 2,109 2,346 Other current assets 72,866 2,927 Total current assets $ 303,812 $ 157,411 Property and equipment, net of accumulated depreciation of $17,756 and $16,458 at June 30, 2026 and December 31, 2025, respectively 10,510 11,763 Operating lease right-of-use assets 12,867 14,856 Goodwill 18,580 19,161 Intangible assets, net 41,772 42,167 Other assets 1,510 1,661 Total assets $ 389,051 $ 247,019 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 958 $ 661 Accrued expenses and other current liabilities 7,971 8,560 Operating lease current liabilities 2,386 2,673 Deferred revenue 537 491 Total current liabilities $ 11,852 $ 12,385 Warrants 29,116 33,167 Operating lease noncurrent liabilities 10,777 12,337 Other long-term liabilities 2,806 1,776 Long-term debt, net — 273,589 Total liabilities $ 54,551 $ 333,254 Stockholders’ equity: Common stock, authorized 500,000,000 shares; 167,130,020 and 135,504,497 shares issued and 166,997,792 and 135,372,269 shares outstanding at June 30, 2026 and December 31, 2025, respectively 18 15 Additional paid-in capital 1,428,059 961,991 Accumulated other comprehensive income 2,851 3,811 Accumulated deficit (1,095,735) (1,051,359) Common stock in treasury, at cost; 132,228 shares at both June 30, 2026 and December 31, 2025 (693) (693) Total stockholders’ equity (deficit) $ 334,500 $ (86,235) Total liabilities and stockholders’ equity $ 389,051 $ 247,019 NEXTNAV INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue $ 1,150 $ 1,202 $ 2,145 $ 2,741 Operating expenses: Cost of goods sold (exclusive of depreciation and amortization) 2,055 2,035 4,177 4,568 Research and development 5,463 4,824 11,404 8,862 Selling, general and administrative 12,561 10,233 23,302 20,753 Depreciation and amortization 1,320 1,350 2,854 2,802 Total operating expenses $ 21,399 $ 18,442 $ 41,737 $ 36,985 Operating loss $ (20,249) $ (17,240) $ (39,592) $ (34,244) Other income (expense): Interest expense, net (3,080) (3,020) (6,993) (5,758) Debt extinguishment gain (loss) 21,429 — 21,429 (14,434) Change in fair value of warrants (3,297) (8,836) 133 (2,795) Change in fair value of derivative liability (28,434) (30,658) (19,259) (55,181) Other income (loss), net (64) (3,399) 22 (9,262) Loss before income taxes $ (33,695) $ (63,153) $ (44,260) $ (121,674) Provision for income taxes (60) (42) (116) (100) Net loss $ (33,755) $ (63,195) $ (44,376) $ (121,774) Foreign currency translation adjustment (183) 2,149 (960) 3,141 Comprehensive loss $ (33,938) $ (61,046) $ (45,336) $ (118,633) Net loss (33,755) (63,195) (44,376) (121,774) Net loss attributable to common stockholders – basic $ (33,755) $ (63,195) $ (44,376) $ (121,774) Net loss attributable to common stockholders – diluted (33,755) (63,195) (45,633) (121,774) Weighted average of shares outstanding – basic 141,629 132,318 138,495 131,509 Weighted average of shares outstanding – diluted 141,629 132,318 139,800 131,509 Net loss attributable to common stockholders per share – basic $ (0.24) $ (0.48) $ (0.32) $ (0.93) Net loss attributable to common stockholders per share – diluted $ (0.24) $ (0.48) $ (0.33) $ (0.93) NEXTNAV INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (IN THOUSANDS) Six Months Ended June 30, 2026 2025 Operating activities Net loss $ (44,376) $ (121,774) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 2,854 2,802 Equity-based compensation 10,974 7,974 Change in fair value of warrants (133) 2,795 Debt extinguishment (gain) loss (21,429) 13,734 Issuance of common warrants — 9,006 Change in fair value of derivative liability 19,259 55,181 Realized and unrealized gain on short term investments (1,991) (1,160) Equity method investment loss 137 74 Asset retirement obligation accretion 100 52 Amortization of debt discount 5,207 4,275 Changes in operating assets and liabilities: Accounts receivable 237 1,064 Other current assets (614) (918) Other assets 9 67 Accounts payable 297 752 Deferred revenue 46 65 Accrued expenses and other liabilities 1,256 (120) Operating lease right-of-use assets and liabilities 146 428 Net cash used in operating activities $ (28,021) $ (25,703) Investing activities Purchases of network assets, property, and equipment (15) (57) Purchase of internal use software (315) (200) Purchase of marketable securities (210,751) (132,141) Sale and maturity of marketable securities 169,000 56,900 Net cash used in investing activities $ (42,081) $ (75,498) Financing activities Proceeds from 2028 senior convertible notes — 190,000 Repayment of 2026 senior secured notes — (70,000) Payments towards debt issuance cost — (1,517) Payments towards debt (50) (56) Proceeds from exercise of common warrants 100,305 582 Proceeds from exercise of common stock options 3,021 1,422 Net cash provided by financing activities $ 103,276 $ 120,431 Effect of exchange rates on cash and cash equivalents (216) 306 Net increase in cash and cash equivalents 32,958 19,536 Cash and cash equivalents at beginning of period 44,757 39,330 Cash and cash equivalents at end of period $ 77,715 $ 58,866 Supplemental disclosures of cash information Income taxes paid, net $ 117 90 Interest paid in cash $ 4,731 $ 4,244 Supplemental disclosure of non-cash financing activity Conversion of debt and accrued interest into common stock $ 190,451 $ — Source: NextNav