Nextnav Inc Financials
This page shows Nextnav Inc (NN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Nextnav Inc has an operating margin of -1060.1%, meaning the company retains $-1060 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -1645.0% the prior year.
Nextnav Inc's revenue surged 46.8% year-over-year to $5.7M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Nextnav Inc carries a low D/E ratio of 1.09, meaning only $1.09 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 71/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 7.09, Nextnav Inc holds $7.09 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Nextnav Inc generated -$38.0M in operating cash flow, capex of $350K consumed most of it, leaving -$38.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Nextnav Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Nextnav Inc generates $0.37 in operating cash flow (-$38.0M OCF vs -$101.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Nextnav Inc earns $-6.4 in operating income for every $1 of interest expense (-$60.1M vs $9.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Nextnav Inc generated $5.7M in revenue in fiscal year 2024. This represents an increase of 46.8% from the prior year.
Nextnav Inc's EBITDA was -$54.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.6% from the prior year.
Nextnav Inc generated -$38.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 0.4% from the prior year.
Nextnav Inc reported -$101.9M in net income in fiscal year 2024. This represents a decrease of 42.0% from the prior year.
Nextnav Inc earned $-0.84 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 27.3% from the prior year.
Nextnav Inc held $39.3M in cash against $54.6M in long-term debt as of fiscal year 2024.
Nextnav Inc had 131M shares outstanding in fiscal year 2024. This represents an increase of 18.0% from the prior year.
Nextnav Inc's gross margin was 87.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 47.2 percentage points from the prior year.
Nextnav Inc's operating margin was -1060.1% in fiscal year 2024, reflecting core business profitability. This is up 584.9 percentage points from the prior year.
Nextnav Inc's net profit margin was -1797.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 60.3 percentage points from the prior year.
Nextnav Inc invested $16.2M in research and development in fiscal year 2024. This represents a decrease of 16.7% from the prior year.
Nextnav Inc invested $350K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 87.3% from the prior year.
NN Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $887K-26.2% | $1.2M-21.9% | $1.5M-19.5% | $1.9M+72.9% | $1.1M+5.6% | $1.0M-13.2% | $1.2M+17.3% | $1.0M |
| Cost of Revenue | $2.0M+0.3% | $2.0M-19.7% | $2.5M+133.6% | -$7.5M-357.9% | $2.9M+5.9% | $2.8M+139.0% | -$7.1M-319.0% | $3.2M |
| Gross Profit | -$1.2M-38.5% | -$833K+16.2% | -$994K-110.5% | $9.5M+619.6% | -$1.8M-6.1% | -$1.7M-120.7% | $8.3M+475.7% | -$2.2M |
| R&D Expenses | $5.2M+6.8% | $4.8M+19.5% | $4.0M+3.1% | $3.9M-4.7% | $4.1M-12.0% | $4.7M-5.2% | $4.9M-1.7% | $5.0M |
| SG&A Expenses | $10.0M-2.2% | $10.2M-2.7% | $10.5M+17.7% | $8.9M+10.3% | $8.1M-4.0% | $8.4M-27.2% | $11.6M+88.6% | $6.2M |
| Operating Income | -$19.9M-15.2% | -$17.2M-1.4% | -$17.0M-15.2% | -$14.8M+3.7% | -$15.3M+5.1% | -$16.1M+19.0% | -$19.9M-36.3% | -$14.6M |
| Interest Expense | $5.0M+1.4% | $4.9M+2343.3% | $201K+107.5% | -$2.7M-16.2% | -$2.3M-7.0% | -$2.2M-5.8% | -$2.0M-17.8% | -$1.7M |
| Income Tax | $46K+9.5% | $42K-27.6% | $58K+65.7% | $35K-48.5% | $68K+54.5% | $44K-29.0% | $62K+158.3% | $24K |
| Net Income | $483K+100.8% | -$63.2M-7.9% | -$58.6M-81.5% | -$32.3M-32.3% | -$24.4M+22.8% | -$31.6M-92.8% | -$16.4M+29.4% | -$23.2M |
| EPS (Diluted) | $-0.12+75.0% | $-0.48-6.7% | $-0.45-87.5% | $-0.24-14.3% | $-0.21+25.0% | $-0.28-86.7% | $-0.15+28.6% | $-0.21 |
NN Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $263.1M+2.5% | $256.7M-4.4% | $268.6M+66.1% | $161.7M-6.1% | $172.3M+4.0% | $165.6M+2.1% | $162.2M-6.3% | $173.1M |
| Current Assets | $172.3M-5.3% | $182.0M-6.0% | $193.5M+124.8% | $86.0M-17.4% | $104.2M+7.6% | $96.8M+6.1% | $91.2M-10.7% | $102.2M |
| Cash & Equivalents | $90.0M+52.9% | $58.9M-60.9% | $150.4M+282.5% | $39.3M-37.5% | $63.0M-14.1% | $73.3M-10.5% | $81.9M-9.2% | $90.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.4M-36.0% | $2.2M+36.0% | $1.6M-50.2% | $3.3M+46.8% | $2.2M+50.3% | $1.5M-35.8% | $2.3M-14.8% | $2.7M |
| Goodwill | $19.1M0.0% | $19.1M+8.2% | $17.6M+4.0% | $17.0M-2.8% | $17.4M-0.7% | $17.6M-2.2% | $18.0M+4.3% | $17.2M |
| Total Liabilities | $285.2M-6.2% | $304.0M+16.0% | $262.0M+134.8% | $111.6M+2.9% | $108.5M+0.1% | $108.4M+32.0% | $82.1M-7.8% | $89.0M |
| Current Liabilities | $14.9M+22.8% | $12.2M+5.3% | $11.5M-4.9% | $12.1M-30.9% | $17.6M-27.2% | $24.1M+146.3% | $9.8M-12.5% | $11.2M |
| Long-Term Debt | $230.1M-6.6% | $246.3M+15.6% | $213.1M+290.1% | $54.6M+6.3% | $51.4M+3.0% | $49.9M+3.0% | $48.4M+2.9% | $47.1M |
| Total Equity | -$22.1M+53.2% | -$47.2M-818.3% | $6.6M-86.9% | $50.1M-21.5% | $63.8M+14.2% | $55.9M-29.0% | $78.7M-1.9% | $80.3M |
| Retained Earnings | -$983.4M0.0% | -$983.9M-6.9% | -$920.7M-6.8% | -$862.1M-5.6% | -$816.2M-3.1% | -$791.8M-4.2% | -$760.2M-2.2% | -$743.8M |
NN Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.0M+33.7% | -$13.5M-11.0% | -$12.2M-1.9% | -$11.9M+2.8% | -$12.3M-76.0% | -$7.0M+35.5% | -$10.8M-24.7% | -$8.7M |
| Capital Expenditures | $8K-70.4% | $27K-10.0% | $30K-82.1% | $168K+12.8% | $149K+365.6% | $32K-84.8% | $210K+1.0% | $208K |
| Free Cash Flow | -$9.0M+33.8% | -$13.6M-11.0% | -$12.2M-0.8% | -$12.1M+2.6% | -$12.4M-77.3% | -$7.0M+36.5% | -$11.0M-24.1% | -$8.9M |
| Investing Cash Flow | $40.5M+151.6% | -$78.5M-2711.6% | $3.0M+113.8% | -$21.8M-7.9% | -$20.2M-856.3% | -$2.1M-182.3% | $2.6M-89.8% | $25.2M |
| Financing Cash Flow | -$354K-236.7% | $259K-99.8% | $120.2M+2139.1% | $5.4M-75.8% | $22.2M+4193.6% | $516K+2557.1% | -$21K-100.1% | $20.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NN Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -130.1%-60.8pp | -69.3%-4.7pp | -64.6%-3.7pp | -60.9%+103.8pp | -164.6%-0.7pp | -164.0% | N/A | -214.7% |
| Operating Margin | -2239.6%-805.3pp | -1434.3%-329.4pp | -1104.9%-332.3pp | -772.6%+614.9pp | -1387.5%+156.5pp | -1544.0%+109.9pp | -1653.9%-230.3pp | -1423.6% |
| Net Margin | 54.4%+5311.9pp | -5257.5%-1451.2pp | -3806.3%-2117.7pp | -1688.6%+518.6pp | -2207.2%+814.8pp | -3022.0%-1661.3pp | -1360.7%+900.3pp | -2261.0% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 0.2%+24.8pp | -24.6%-2.8pp | -21.8%-1.9pp | -20.0%-5.8pp | -14.1%+4.9pp | -19.1%-9.0pp | -10.1%+3.3pp | -13.4% |
| Current Ratio | 11.54-3.4 | 14.97-1.8 | 16.75+9.7 | 7.09+1.2 | 5.93+1.9 | 4.01-5.3 | 9.31+0.2 | 9.12 |
| Debt-to-Equity | -10.40-5.2 | -5.22-37.6 | 32.42+31.3 | 1.09+0.3 | 0.81-0.1 | 0.89+0.3 | 0.62+0.0 | 0.59 |
| FCF Margin | -1011.6%+115.8pp | -1127.4%-334.1pp | -793.3%-159.3pp | -634.0%+492.1pp | -1126.1%-455.2pp | -670.8%+245.6pp | -916.4%-50.2pp | -866.2% |
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Frequently Asked Questions
What is Nextnav Inc's annual revenue?
Nextnav Inc (NN) reported $5.7M in total revenue for fiscal year 2024. This represents a 46.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Nextnav Inc's revenue growing?
Nextnav Inc (NN) revenue grew by 46.8% year-over-year, from $3.9M to $5.7M in fiscal year 2024.
Is Nextnav Inc profitable?
No, Nextnav Inc (NN) reported a net income of -$101.9M in fiscal year 2024, with a net profit margin of -1797.1%.
What is Nextnav Inc's earnings per share (EPS)?
Nextnav Inc (NN) reported diluted earnings per share of $-0.84 for fiscal year 2024. This represents a -27.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Nextnav Inc's EBITDA?
Nextnav Inc (NN) had EBITDA of -$54.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Nextnav Inc have?
As of fiscal year 2024, Nextnav Inc (NN) had $39.3M in cash and equivalents against $54.6M in long-term debt.
What is Nextnav Inc's gross margin?
Nextnav Inc (NN) had a gross margin of 87.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nextnav Inc's operating margin?
Nextnav Inc (NN) had an operating margin of -1060.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Nextnav Inc's net profit margin?
Nextnav Inc (NN) had a net profit margin of -1797.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Nextnav Inc's free cash flow?
Nextnav Inc (NN) generated -$38.4M in free cash flow during fiscal year 2024. This represents a -0.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Nextnav Inc's operating cash flow?
Nextnav Inc (NN) generated -$38.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Nextnav Inc's total assets?
Nextnav Inc (NN) had $161.7M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Nextnav Inc's capital expenditures?
Nextnav Inc (NN) invested $350K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Nextnav Inc spend on research and development?
Nextnav Inc (NN) invested $16.2M in research and development during fiscal year 2024.
How many shares does Nextnav Inc have outstanding?
Nextnav Inc (NN) had 131M shares outstanding as of fiscal year 2024.
What is Nextnav Inc's current ratio?
Nextnav Inc (NN) had a current ratio of 7.09 as of fiscal year 2024, which is generally considered healthy.
What is Nextnav Inc's debt-to-equity ratio?
Nextnav Inc (NN) had a debt-to-equity ratio of 1.09 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nextnav Inc's return on assets (ROA)?
Nextnav Inc (NN) had a return on assets of -63.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Nextnav Inc's cash runway?
Based on fiscal year 2024 data, Nextnav Inc (NN) had $39.3M in cash against an annual operating cash burn of $38.0M. This gives an estimated cash runway of approximately 12 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Nextnav Inc's Piotroski F-Score?
Nextnav Inc (NN) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Nextnav Inc's earnings high quality?
Nextnav Inc (NN) has an earnings quality ratio of 0.37x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Nextnav Inc cover its interest payments?
Nextnav Inc (NN) has an interest coverage ratio of -6.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Nextnav Inc?
Nextnav Inc (NN) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.