NextNav reports Q4 EPS (40c), consensus (16c)

Reports Q4 revenue $803K, consensus $2.63M. CEO Ganesh Pattabiraman, NextNav stated, "We made significant progress in FY 2022 executing against our key strategic priorities. We successfully completed the acquisition of Nestwave, now known as NextNav France, in October 2022 and expect to begin testing initial implementations of the combined technologies in the coming months. We continue to advance our work in the public safety sector with the launch of E911 services on Verizon, the first tier one carrier to launch an E911 device with our Pinnacle technology. We also expanded our relationship with NASA…As part of the new agreement, NASA is utilizing TerraPoiNT beacons to capture in-flight data on drone navigation, detection, and collision avoidance in support of a stronger understanding of PNT in GPS-denied environments. Finally, we continue to expand our global reach with the commercial launch of our Pinnacle service with MetCom in Tokyo, Japan, as they continue the national rollout of Pinnacle. Following the launch, we continue to field significant interest from additional countries and look forward to sharing updates on our progress in the coming months…We look forward to the opportunities ahead and driving value for our shareholders."