What is Nextnav Inc's earnings per share (EPS)?

Nextnav Inc (NNAVW) reported diluted earnings per share of -$1.42 for fiscal year 2025. This represents a -69.0% 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.

Nextnav Inc Financials

NNAVW

Trailing 12 months to March 31, 2026

Revenue $4.0M -34.6% YoY

Net Income -$141.3M -9.7% YoY

EPS (Diluted) -$1.42 FY2025 annual

Free Cash Flow -$48.7M -11.7% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 14, 2026 Currency USD FYE December

Nextnav Inc (NNAVW) reported $4.0M in revenue over the twelve months to Mar 31, 2026, down 34.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).

Rhea AI NNAVW FY2025 2026-08-26

NextNav’s dominant mechanic is development-stage cash consumption, with operating costs and financing needs overwhelming a small, unstable revenue base.

The business moved from an 87.1% gross margin in FY2024 to -86.8% in FY2025 while revenue contracted, indicating a sharp deterioration in revenue economics rather than ordinary operating leverage. In FY2025, R&D spending reached $19.0M against operating cash flow of -$50.7M, so development investment remains several times larger than the revenue base and losses are consuming cash.

The near-match between -$50.7M of operating cash flow and -$51.0M of free cash flow, despite negligible capital expenditures, means the cash deficit is primarily operational rather than reinvestment-driven.

External funding is central to the financing model: FY2025 financing cash flow was $120.5M while liabilities reached $333.3M, leaving the company with negative equity and a balance sheet increasingly dependent on creditors and new capital.

Financial Health Signals

Financial Health Score 32/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Nextnav Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

Not available for Nextnav Inc, and counted as zero in the overall score.

Dilution

R&D Intensity

Revenue Progress

Burn Trend

Balance Sheet

Not available for Nextnav Inc, and counted as zero in the overall score.

Piotroski F-Score Weak

2/9

Nextnav Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Nextnav Inc reported a net loss of $189.3M while operations used $50.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Nextnav Inc reported an operating loss of $70.2M against $12.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.6M

YoY-19.3%

5Y CAGR+51.7%

Nextnav Inc generated $4.6M in revenue in fiscal year 2025. This represents a decrease of 19.3% from the prior year.

EBITDA

-$62.5M

YoY-13.9%

Nextnav Inc's EBITDA was -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 13.9% from the prior year.

Net Income

-$189.3M

YoY-85.8%

Nextnav Inc reported -$189.3M in net income in fiscal year 2025. This represents a decrease of 85.8% from the prior year.

EPS (Diluted)

-$1.42

YoY-69.0%

Nextnav Inc earned -$1.42 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 69.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$50.8M

YoY-32.4%

Nextnav Inc recorded an outflow of $50.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 32.4% from the prior year.

Cash & Debt

$44.8M

YoY+13.8%

5Y CAGR+26.8%

Nextnav Inc held $44.8M in cash against $273.6M in long-term debt as of fiscal year 2025.

Shares Outstanding

135M

YoY+3.2%

Nextnav Inc had 135M shares outstanding in fiscal year 2025. This represents an increase of 3.2% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

-86.8%

YoY-173.9pp

5Y CAGR-29.8pp

Nextnav Inc's gross margin was -86.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 173.9 percentage points from the prior year.

Operating Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$19.0M

YoY+16.7%

5Y CAGR+16.6%

Nextnav Inc invested $19.0M in research and development in fiscal year 2025. This represents an increase of 16.7% from the prior year.

Capital Expenditures

$50K

YoY-85.7%

5Y CAGR-62.1%

Nextnav Inc invested $50K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 85.7% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

NNAVW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

NNAVW quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$4.0M	$4.6M-19.3%	$5.7M+46.8%	$3.9M-1.6%	$3.9M+414.5%	$763K+34.1%	$569K
Cost of Revenue	$8.1M	$8.5M+1071.5%	$729K-68.6%	$2.3M-3.0%	$2.4M+929.7%	$232K-74.0%	$893K
Gross Profit	-$4.1M	-$4.0M-180.3%	$4.9M+219.9%	$1.5M+0.5%	$1.5M+189.5%	$531K+263.9%	-$324K
R&D Expenses	$20.9M	$19.0M+16.7%	$16.2M-16.7%	$19.5M+14.3%	$17.1M+80.2%	$9.5M+7.8%	$8.8M
SG&A Expenses	$39.8M	$39.6M+18.1%	$33.5M+10.5%	$30.3M-17.9%	$36.9M+172.4%	$13.6M+2.3%	$13.3M
Operating Income	-$72.6M	-$70.2M-16.9%	-$60.1M+5.4%	-$63.5M+3.1%	-$65.5M-54.5%	-$42.4M-44.0%	-$29.5M
Interest Expense	-$7.5M	-$12.4M-32.4%	-$9.4M-156.6%	-$3.7M-506.7%	$901K-95.0%	$17.8M+77.8%	$10.0M
Income Tax	$196K	$198K+14.5%	$173K-21.7%	$221K+889.3%	-$28K-153.8%	$52K+36.8%	$38K
Net Income	-$141.3M	-$189.3M-85.8%	-$101.9M-42.0%	-$71.7M-78.8%	-$40.1M+72.3%	-$144.7M-5.3%	-$137.3M
EPS (Diluted)	—	-$1.42-69.0%	-$0.84-27.3%	-$0.66-65.0%	-$0.40	-$6.73	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$995K+5.3%	$945K+6.5%	$887K-26.2%	$1.2M-21.9%	$1.5M-19.5%	$1.9M+18.9%	$1.6M+45.4%	$1.1M
Cost of Revenue	$2.1M+9.9%	$1.9M-5.4%	$2.0M+0.3%	$2.0M-19.7%	$2.5M+133.6%	-$7.5M-391.7%	$2.6M-11.6%	$2.9M
Gross Profit	-$1.1M-14.3%	-$986K+14.6%	-$1.2M-38.5%	-$833K+16.2%	-$994K-110.5%	$9.5M+1066.5%	-$978K+46.2%	-$1.8M
R&D Expenses	$5.9M+20.3%	$4.9M-4.2%	$5.2M+6.8%	$4.8M+19.5%	$4.0M+3.1%	$3.9M+10.5%	$3.5M-13.7%	$4.1M
SG&A Expenses	$10.7M+22.1%	$8.8M-12.1%	$10.0M-2.2%	$10.2M-2.7%	$10.5M+17.7%	$8.9M+11.5%	$8.0M-1.1%	$8.1M
Operating Income	-$19.3M-20.0%	-$16.1M+18.8%	-$19.9M-15.2%	-$17.2M-1.4%	-$17.0M-15.2%	-$14.8M-6.6%	-$13.9M+9.7%	-$15.3M
Interest Expense	$5.2M+122.9%	-$22.5M-552.7%	$5.0M+1.4%	$4.9M+2343.3%	$201K+107.5%	-$2.7M-21.6%	-$2.2M+4.4%	-$2.3M
Income Tax	$56K+7.7%	$52K+13.0%	$46K+9.5%	$42K-27.6%	$58K+65.7%	$35K+34.6%	$26K-61.8%	$68K
Net Income	-$10.6M+84.4%	-$68.0M-14170.8%	$483K+100.8%	-$63.2M-7.9%	-$58.6M-81.5%	-$32.3M-137.1%	-$13.6M+44.2%	-$24.4M
EPS (Diluted)	-$0.12	N/A	-$0.12+75.0%	-$0.48-6.7%	-$0.45	N/A	-$0.11+47.6%	-$0.21

NNAVW Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

NNAVW quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$247.0M+52.7%	$161.7M-0.3%	$162.2M+31.0%	$123.8M-9.5%	$136.8M+204.7%	$44.9M
Current Assets	$157.4M+82.9%	$86.0M-5.7%	$91.2M+49.1%	$61.2M-42.5%	$106.3M+488.4%	$18.1M
Cash & Equivalents	$44.8M+13.8%	$39.3M-52.0%	$81.9M+73.4%	$47.2M-52.8%	$100.1M+632.1%	$13.7M
Inventory	N/A	N/A	N/A	N/A	$4.6M	N/A
Accounts Receivable	$2.3M-28.9%	$3.3M+41.6%	$2.3M+7.6%	$2.2M+24.6%	$1.7M+2159.7%	$77K
Goodwill	$19.2M+12.9%	$17.0M-5.6%	$18.0M+2.8%	$17.5M	N/A	N/A
Total Liabilities	$333.3M+198.6%	$111.6M+36.0%	$82.1M+311.9%	$19.9M-46.0%	$36.9M-93.1%	$535.3M
Current Liabilities	$12.4M+2.0%	$12.1M+23.9%	$9.8M+10.3%	$8.9M+33.0%	$6.7M+57.5%	$4.2M
Long-Term Debt	$273.6M+400.9%	$54.6M+12.7%	$48.4M	N/A	N/A	N/A
Total Equity	-$86.2M-272.1%	$50.1M-36.3%	$78.7M-21.3%	$100.0M+0.1%	$100.0M+120.4%	-$490.4M
Retained Earnings	-$1.1B-22.0%	-$862.1M-13.4%	-$760.2M-10.4%	-$688.5M-6.3%	-$647.9M-32.1%	-$490.3M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$235.6M-4.6%	$247.0M-6.1%	$263.1M+2.5%	$256.7M-4.4%	$268.6M+66.1%	$161.7M-5.8%	$171.7M-0.4%	$172.3M
Current Assets	$147.9M-6.1%	$157.4M-8.6%	$172.3M-5.3%	$182.0M-6.0%	$193.5M+124.8%	$86.0M-17.6%	$104.4M+0.2%	$104.2M
Cash & Equivalents	$30.6M-31.6%	$44.8M-50.3%	$90.0M+52.9%	$58.9M-60.9%	$150.4M+282.5%	$39.3M-42.1%	$67.9M+7.8%	$63.0M
Accounts Receivable	$1.4M-41.2%	$2.3M+63.8%	$1.4M-36.0%	$2.2M+36.0%	$1.6M-50.2%	$3.3M+47.7%	$2.2M-0.6%	$2.2M
Goodwill	$18.7M-2.4%	$19.2M+0.3%	$19.1M0.0%	$19.1M+8.2%	$17.6M+4.0%	$17.0M-6.7%	$18.2M+4.2%	$17.4M
Total Liabilities	$325.6M-2.3%	$333.3M+16.9%	$285.2M-6.2%	$304.0M+16.0%	$262.0M+134.8%	$111.6M+5.2%	$106.1M-2.2%	$108.5M
Current Liabilities	$14.1M+13.9%	$12.4M-17.1%	$14.9M+22.8%	$12.2M+5.3%	$11.5M-4.9%	$12.1M-41.7%	$20.8M+18.5%	$17.6M
Long-Term Debt	$267.2M-2.3%	$273.6M+18.9%	$230.1M-6.6%	$246.3M+15.6%	$213.1M+290.1%	$54.6M+3.1%	$53.0M+3.1%	$51.4M
Total Equity	-$90.0M-4.3%	-$86.2M-289.9%	-$22.1M+53.2%	-$47.2M-818.3%	$6.6M-86.9%	$50.1M-23.6%	$65.6M+2.7%	$63.8M
Retained Earnings	-$1.1B-1.0%	-$1.1B-6.9%	-$983.4M0.0%	-$983.9M-6.9%	-$920.7M-6.8%	-$862.1M-3.9%	-$829.8M-1.7%	-$816.2M

Not reported in any period shown, so not listed: Inventory.

NNAVW Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

NNAVW quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$48.6M	-$50.7M-33.5%	-$38.0M-7.2%	-$35.4M+4.5%	-$37.1M+22.6%	-$47.9M-68.7%	-$28.4M
Capital Expenditures	$30K	$50K-85.7%	$350K-87.3%	$2.8M-7.2%	$3.0M+190.0%	$1.0M-84.1%	$6.4M
Free Cash Flow	-$48.7M	-$50.8M-32.4%	-$38.4M-0.4%	-$38.2M+4.7%	-$40.1M+18.2%	-$49.0M-40.6%	-$34.8M
Investing Cash Flow	-$71.7M	-$64.6M-63.6%	-$39.5M-3774.8%	$1.1M+106.8%	-$15.7M-1127.5%	-$1.3M+82.1%	-$7.2M
Financing Cash Flow	$543K	$120.5M+243.2%	$35.1M-49.1%	$69.0M+160327.9%	$43K-100.0%	$135.6M+290.1%	$34.8M
Share Buybacks	N/A	N/A	N/A	N/A	$4K	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$10.0M+37.5%	-$16.1M-79.3%	-$9.0M+33.7%	-$13.5M-11.0%	-$12.2M-1.9%	-$11.9M-76.2%	-$6.8M+44.8%	-$12.3M
Capital Expenditures	$10K-33.3%	-$15K+87.5%	$8K-70.4%	$27K-10.0%	$30K-82.1%	$168K+16700.0%	$1K-99.3%	$149K
Free Cash Flow	-$10.1M+37.5%	-$16.1M-79.3%	-$9.0M+33.8%	-$13.6M-11.0%	-$12.2M-0.8%	-$12.1M-78.6%	-$6.8M+45.5%	-$12.4M
Investing Cash Flow	-$4.2M+86.0%	-$29.6M-173.0%	$40.5M+151.6%	-$78.5M-2711.6%	$3.0M+113.8%	-$21.8M-568.2%	$4.7M+123.0%	-$20.2M
Financing Cash Flow	$233K-42.5%	$405K+214.4%	-$354K-236.7%	$259K-99.8%	$120.2M+2139.1%	$5.4M-24.0%	$7.1M-68.1%	$22.2M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

NNAVW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

NNAVW quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-86.8%-173.9pp	87.1%+47.2pp	40.0%+0.8pp	39.1%-30.4pp	69.6%+126.5pp	-56.9%
Operating Margin	-1535.8%	-1060.1%	-1645.0%	-1669.3%	-5560.8%	-5179.1%
Net Margin	-4138.5%	-1797.1%	-1857.5%	-1021.8%	-18960.2%	-24136.4%
Return on Equity	N/A	-203.3%-112.2pp	-91.1%-51.0pp	-40.1%+104.6pp	-144.7%	N/A
Return on Assets	-76.6%-13.6pp	-63.0%-18.8pp	-44.2%-11.8pp	-32.4%+73.3pp	-105.7%+200.1pp	-305.9%
Current Ratio	12.71+5.6x	7.09-2.2x	9.31+2.4x	6.89-9.0x	15.92+11.7x	4.26
Debt-to-Equity	N/A	1.09+0.5x	0.62+0.4x	0.20-0.2x	0.37	N/A
FCF Margin	-1110.8%	-676.6%	-988.9%	-1020.4%	-6416.0%	-6120.2%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	-113.3%	-104.3%	-130.1%	-69.3%-4.7pp	-64.6%	494.6%	-60.9%	-164.6%
Operating Margin	-1944.0%	-1706.1%	-2239.6%	-1434.3%	-1104.9%	-772.6%	-862.0%	-1387.5%
Net Margin	-1067.4%	-7191.8%	54.4%	-5257.5%	-3806.3%	-1688.6%	-846.9%	-2207.2%
Return on Equity	N/A	N/A	N/A	N/A	-891.2%-826.8pp	-64.4%-43.6pp	-20.8%+17.5pp	-38.2%
Return on Assets	-4.5%+23.0pp	-27.5%-27.7pp	0.2%+24.8pp	-24.6%-2.8pp	-21.8%-1.9pp	-20.0%-12.0pp	-7.9%+6.2pp	-14.1%
Current Ratio	10.49-2.2x	12.71+1.2x	11.54-3.4x	14.97-1.8x	16.75+9.7x	7.09+2.1x	5.01-0.9x	5.93
Debt-to-Equity	N/A	N/A	N/A	N/A	32.42+31.3x	1.09+0.3x	0.810.0x	0.81
FCF Margin	-1010.1%	-1702.9%	-1011.6%	-1127.4%	-793.3%	-634.0%	-422.0%	-1126.1%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.

Note: Shareholder equity is negative (-$86.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Where Nextnav Inc Ranks

Frequently Asked Questions

What is Nextnav Inc's annual revenue?

Nextnav Inc (NNAVW) reported $4.6M in total revenue for fiscal year 2025. This represents a -19.3% 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 (NNAVW) revenue declined by 19.3% year-over-year, from $5.7M to $4.6M in fiscal year 2025.

Is Nextnav Inc profitable?

No, Nextnav Inc (NNAVW) reported a net income of -$189.3M in fiscal year 2025.

What is Nextnav Inc's EBITDA?

Nextnav Inc (NNAVW) had EBITDA of -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Nextnav Inc have?

As of fiscal year 2025, Nextnav Inc (NNAVW) had $44.8M in cash and equivalents against $273.6M in long-term debt.

What is Nextnav Inc's gross margin?

Nextnav Inc (NNAVW) had a gross margin of -86.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Nextnav Inc's free cash flow?

Nextnav Inc (NNAVW) recorded an outflow of $50.8M in free cash flow during fiscal year 2025. This represents a -32.4% 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 (NNAVW) recorded an outflow of $50.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Nextnav Inc's total assets?

Nextnav Inc (NNAVW) had $247.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Nextnav Inc's capital expenditures?

Nextnav Inc (NNAVW) invested $50K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Nextnav Inc spend on research and development?

Nextnav Inc (NNAVW) invested $19.0M in research and development during fiscal year 2025.

How many shares does Nextnav Inc have outstanding?

Nextnav Inc (NNAVW) had 135M shares outstanding as of fiscal year 2025.

What is Nextnav Inc's current ratio?

Nextnav Inc (NNAVW) had a current ratio of 12.71 as of fiscal year 2025, which is generally considered healthy.

What is Nextnav Inc's return on assets (ROA)?

Nextnav Inc (NNAVW) had a return on assets of -76.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is Nextnav Inc's debt-to-equity ratio negative or not reported?

Nextnav Inc (NNAVW) has negative shareholder equity of -$86.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Nextnav Inc's Piotroski F-Score?

Nextnav Inc (NNAVW) has a Piotroski F-Score of 2 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 to 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 (NNAVW) reported a net loss of $189.3M while operations used $50.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 (NNAVW) reported an operating loss of $70.2M against $12.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 (NNAVW) scores 32 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.