Nextnav Inc. (NN)
NASDAQ:NN
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NextNav
(NASDAQ:NN)
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Rating:56Neutral
Price Target:
$24.50
▲(7.31% Upside)
Action:Reiterated
Date:06/05/26
The score is held back primarily by weak financial performance (declining revenue, negative gross profit, persistent cash burn, and negative equity). Offsetting that, technical indicators show strong price momentum, and the latest earnings call highlighted meaningful regulatory/technical progress and a solid cash balance, though execution and regulatory timing risks remain.
Positive Factors
Substantial low‑band spectrum rights
Control of ~4 billion MHz‑POPs in low‑band creates a durable structural advantage: superior propagation for indoor/urban PNT, scarcity-driven barriers to entry, and a platform for scale across public safety and critical‑infrastructure customers that supports multi‑quarter commercialization efforts.
Negative Factors
Weak profitability metrics
Declining revenue and a negative gross profit imply the core offering has yet to reach sustainable unit economics. Deep negative margins limit reinvestment from operations, increase the reliance on external capital, and represent a multi‑quarter headwind to achieving self‑funded scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Substantial low‑band spectrum rights
Control of ~4 billion MHz‑POPs in low‑band creates a durable structural advantage: superior propagation for indoor/urban PNT, scarcity-driven barriers to entry, and a platform for scale across public safety and critical‑infrastructure customers that supports multi‑quarter commercialization efforts.
Read all positive factors
NextNav (NN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.94B
Dividend YieldN/A
Average Volume (3M)3.01M
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue Growth-34.62%
EPS Growth-4.18%
CountryUS
Employees96
SectorTechnology
Sector Strength88
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-1.18
Shares Outstanding136,436,940
10 Day Avg. Volume2,641,399
30 Day Avg. Volume3,010,088
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 Cap0.95
Enterprise Value/Revenue694.22
Enterprise Value/Gross Profit-333.53
Enterprise Value/Ebitda-64.09
Forecast
1Y Price Target
$39.50Price Target Upside73.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.58
Revenue Forecast (FY)$3.79M
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 ...
How the Company Makes Money
null...
NextNav Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 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 | -43.64M | -62.48M | -55.48M | -59.04M | -61.31M | -40.65M |
| 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 | 14.28M | 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
Positive
22.83
Price Trends
19.24
Positive
17.72
Positive
16.31
Positive
Market Momentum
0.71
Positive
61.21
Neutral
52.90
Neutral
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 22.83 is above the 20-day moving average (MA) of 21.38, above the 50-day MA of 19.24, and above the 200-day MA of 16.31, indicating a bullish trend. The MACD of 0.71 indicates Positive momentum. The RSI at 61.21 is Neutral, neither overbought nor oversold. The STOCH value of 52.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $2.05B | 22.01 | 5.70% | ― | 26.61% | ― | |
66 Neutral | $117.65M | -27.75 | -26.67% | ― | 20.86% | 37.40% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $78.79M | 15.21 | 18.73% | ― | -37.04% | ― | |
56 Neutral | $2.94B | -22.59 | 230.18% | ― | -34.62% | -4.18% | |
50 Neutral | $95.81M | -0.22 | -567.03% | ― | -28.88% | -15473.93% | |
46 Neutral | $41.80M | -8.28 | -10.32% | ― | ― | ― |
* Technology Sector Average
NN
NextNav
23.59
11.97
103.01%
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NextNav Corporate Events
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.