Quarterly ResultMay 14, 2026, 04:15 PM
NextNav Q1 Net Loss Narrows to $(10.6)M; Revenue $995K
AI Summary
NextNav Inc. reported its financial results for the first quarter ended March 31, 2026, with a net loss narrowing significantly to $(10.6) million compared to $(58.6) million in the prior year period. However, revenue for the quarter decreased to $995 thousand from $1.54 million year-over-year. The company also highlighted operational progress, including joining the OCUDU Ecosystem Foundation and demonstrating 5G and RFID coexistence in the lower 900 MHz band, while continuing to engage with the FCC process.
Key Highlights
- Q1 2026 net loss narrowed to $(10.6) million from $(58.6) million in Q1 2025.
- Q1 2026 revenue was $995 thousand, down from $1.54 million in Q1 2025.
- Basic net loss per share improved to $(0.08) in Q1 2026 from $(0.45) in Q1 2025.
- Diluted net loss per share improved to $(0.12) in Q1 2026 from $(0.45) in Q1 2025.
- Cash and cash equivalents and short-term investments totaled $143 million as of March 31, 2026.
- Net long-term debt was $267.2 million as of March 31, 2026.
- Joined the OCUDU Ecosystem Foundation on May 14, 2026.
- Demonstrated 5G and RFID coexistence in the lower 900 MHz band on May 5, 2026.