NextNav Inc. Warrant (NNAVW) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NNAVW SEC filings page.
NextNav Inc. Warrant (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).
FY2025 shows a development-stage business whose sales no longer cover direct costs, operating expenses, or debt-supported financing needs.
In FY2025, operating cash flow was-$50.7M while free cash flow was-$51.0M , with capital spending of only$50K ; the cash shortfall therefore came almost entirely from ongoing operations rather than reinvestment.
Reported gross margin swung from
Liabilities of
Financial Health Signals
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. Warrant'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.
Not available for NextNav Inc. Warrant, and counted as zero in the overall score.
NextNav Inc. Warrant had 135M shares outstanding at the end of fiscal year 2025, against 131M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and NextNav Inc. Warrant scores 48/100 among other emerging companies.
NextNav Inc. Warrant spent $19.0M on research and development in fiscal year 2025, which was 25.3% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and NextNav Inc. Warrant scores 58/100 among other emerging companies.
NextNav Inc. Warrant reported revenue of $4.6M in fiscal year 2025, against $5.7M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and NextNav Inc. Warrant scores 54/100 among other emerging companies.
NextNav Inc. Warrant's operations used $50.7M of cash in fiscal year 2025, against $38.0M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and NextNav Inc. Warrant scores 31/100 among other emerging companies.
Not available for NextNav Inc. Warrant, and counted as zero in the overall score.
NextNav Inc. Warrant 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.
NextNav Inc. Warrant 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.
NextNav Inc. Warrant 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
Earnings & Revenue
NextNav Inc. Warrant generated $995K in revenue in Q1 2026. This represents a decrease of 35.3% from the same quarter a year earlier. Against the prior quarter it is up 5.3%.
NextNav Inc. Warrant's EBITDA was -$17.8M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 14.5% from the same quarter a year earlier. Against the prior quarter it is down 21.0%.
NextNav Inc. Warrant reported -$10.6M in net income in Q1 2026. This represents an increase of 81.9% from the same quarter a year earlier. Against the prior quarter it is up 84.4%.
NextNav Inc. Warrant earned -$0.12 per diluted share (EPS) in Q1 2026. This represents an increase of 73.3% from the same quarter a year earlier.
Cash & Balance Sheet
NextNav Inc. Warrant recorded an outflow of $10.1M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents an increase of 17.7% from the same quarter a year earlier. Against the prior quarter it is up 37.5%.
NextNav Inc. Warrant held $30.6M in cash against $267.2M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q1 2026.
Capital Allocation
NextNav Inc. Warrant invested $5.9M in research and development in Q1 2026. This represents an increase of 47.1% from the same quarter a year earlier. Against the prior quarter it is up 20.3%.
NextNav Inc. Warrant invested $10K in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 66.7% from the same quarter a year earlier. Against the prior quarter it is down 33.3%.
Not reported for Q1 2026.
NNAVW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $995K-35.3% | $945K-50.5% | $887K-44.8% | $1.2M+8.8% | $1.5M+47.1% | $1.9M+58.6% | $1.6M+56.5% | $1.1M+38.1% |
| Cost of Revenue | $2.1M-16.2% | $1.9M+125.6% | $2.0M-21.0% | $2.0M-30.4% | $2.5M-8.3% | -$7.5M-6.5% | $2.6M-20.0% | $2.9M-6.9% |
| Gross Profit | -$1.1M-13.4% | -$986K-110.4% | -$1.2M-18.0% | -$833K+54.2% | -$994K+42.0% | $9.5M+14.1% | -$978K+55.6% | -$1.8M+22.3% |
| R&D Expenses | $5.9M+47.1% | $4.9M+26.0% | $5.2M+45.4% | $4.8M+17.4% | $4.0M-13.5% | $3.9M-20.5% | $3.5M-29.2% | $4.1M-17.7% |
| SG&A Expenses | $10.7M+2.1% | $8.8M-1.6% | $10.0M+24.9% | $10.2M+26.2% | $10.5M+24.6% | $8.9M-22.9% | $8.0M+30.3% | $8.1M+24.4% |
| Operating Income | -$19.3M-13.8% | -$16.1M-9.2% | -$19.9M-43.4% | -$17.2M-12.4% | -$17.0M-5.3% | -$14.8M+25.9% | -$13.9M+5.3% | -$15.3M-2.0% |
| EBITDA | -$17.8M-14.5% | -$14.7M-9.4% | -$16.3M-30.1% | -$15.9M-13.2% | -$15.6M-4.9% | -$13.5M+27.9% | -$12.5M+6.2% | -$14.0M-1.3% |
| Interest Expense | $5.2M+2462.7% | -$22.5M-735.8% | $5.0M+324.5% | $4.9M+311.7% | $201K+109.3% | -$2.7M-31.5% | -$2.2M-27.4% | -$2.3M-576.4% |
| Income Tax | $56K-3.4% | $52K+48.6% | $46K+76.9% | $42K-38.2% | $58K+31.8% | $35K-43.5% | $26K+8.3% | $68K-54.1% |
| Net Income | -$10.6M+81.9% | -$68.0M-110.6% | $483K+103.5% | -$63.2M-159.1% | -$58.6M-85.3% | -$32.3M-96.8% | -$13.6M+41.4% | -$24.4M-54.7% |
| EPS (Basic) | -$0.08+82.2% | N/A | $0.00+100.0% | -$0.48-128.6% | -$0.45-60.7% | N/A | -$0.11+47.6% | -$0.21-40.0% |
| EPS (Diluted) | -$0.12+73.3% | N/A | -$0.12-9.1% | -$0.48-128.6% | -$0.45-60.7% | N/A | -$0.11+47.6% | -$0.21-40.0% |
| Diluted Shares (Avg) | 152M+15.7% | N/A | 150M+18.3% | 132M+14.8% | 131M+18.0% | N/A | 126M+116915.1% | 115M+107826.1% |
NNAVW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $235.6M-12.3% | $247.0M+52.7% | $263.1M+53.2% | $256.7M+49.0% | $268.6M+62.2% | $161.7M-0.3% | $171.7M-0.8% | $172.3M+6.7% |
| Current Assets | $147.9M-23.6% | $157.4M+82.9% | $172.3M+65.0% | $182.0M+74.7% | $193.5M+99.9% | $86.0M-5.7% | $104.4M+2.2% | $104.2M+16.0% |
| Cash & Equivalents | $30.6M-79.7% | $44.8M+13.8% | $90.0M+32.5% | $58.9M-6.5% | $150.4M+105.2% | $39.3M-52.0% | $67.9M-24.7% | $63.0M+19.3% |
| Accounts Receivable | $1.4M-16.1% | $2.3M-28.9% | $1.4M-35.9% | $2.2M-0.5% | $1.6M+10.0% | $3.3M+41.6% | $2.2M-18.4% | $2.2M+22.8% |
| Goodwill | $18.7M+6.0% | $19.2M+12.9% | $19.1M+5.0% | $19.1M+9.4% | $17.6M+0.3% | $17.0M-5.6% | $18.2M+5.5% | $17.4M-1.6% |
| Total Liabilities | $325.6M+24.3% | $333.3M+198.6% | $285.2M+168.8% | $304.0M+180.2% | $262.0M+141.8% | $111.6M+36.0% | $106.1M+19.2% | $108.5M+63.4% |
| Current Liabilities | $14.1M+22.1% | $12.4M+2.0% | $14.9M-28.3% | $12.2M-30.8% | $11.5M-52.2% | $12.1M+23.9% | $20.8M+85.9% | $17.6M+81.6% |
| Non-Current Liabilities | $311.5M+24.4% | $320.9M+222.6% | $270.3M+216.9% | $291.8M+221.0% | $250.5M+197.4% | $99.5M+37.7% | $85.3M+9.6% | $90.9M+60.3% |
| Long-Term Debt | $267.2M+25.4% | $273.6M+400.9% | $230.1M+334.4% | $246.3M+379.2% | $213.1M+327.1% | $54.6M+12.7% | $53.0M+12.6% | $51.4M+51.0% |
| Total Equity | -$90.0M-1468.7% | -$86.2M-272.1% | -$22.1M-133.7% | -$47.2M-173.9% | $6.6M-88.2% | $50.1M-36.3% | $65.6M-18.3% | $63.8M-30.0% |
| Retained Earnings | -$1.1B-15.3% | -$1.1B-22.0% | -$983.4M-18.5% | -$983.9M-20.5% | -$920.7M-16.3% | -$862.1M-13.4% | -$829.8M-11.6% | -$816.2M-13.3% |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments.
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.0M+17.6% | -$16.1M-34.6% | -$9.0M-32.2% | -$13.5M-10.0% | -$12.2M-74.4% | -$11.9M-10.3% | -$6.8M+21.9% | -$12.3M-44.8% |
| Depreciation & Amortization | $1.5M+5.6% | $1.4M+6.9% | $3.5M+170.1% | $1.4M+4.2% | $1.5M+10.1% | $1.3M+3.9% | $1.3M+4.5% | $1.3M+9.9% |
| Stock-Based Compensation | $5.1M+17.7% | N/A | $4.6M+39.8% | $3.6M0.0% | $4.3M+1.9% | N/A | $3.3M-25.9% | $3.7M-16.5% |
| Capital Expenditures | $10K-66.7% | -$15K-91.1% | $8K+700.0% | $27K-81.9% | $30K-6.3% | $168K-20.0% | $1K-99.5% | $149K-89.9% |
| Free Cash Flow | -$10.1M+17.7% | -$16.1M-32.8% | -$9.0M-32.3% | -$13.6M-8.9% | -$12.2M-74.0% | -$12.1M-9.7% | -$6.8M+23.8% | -$12.4M-24.8% |
| Investing Cash Flow | -$4.2M-238.3% | -$29.6M-35.7% | $40.5M+770.3% | -$78.5M-288.5% | $3.0M+242.3% | -$21.8M-949.1% | $4.7M-81.5% | -$20.2M+34.1% |
| Financing Cash Flow | $233K-99.8% | $405K-92.5% | -$354K-105.0% | $259K-98.8% | $120.2M+23189.1% | $5.4M+25657.1% | $7.1M-66.1% | $22.2M-54.0% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -113.3% | -104.3% | -130.1% | -69.3% | -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%-834.7pp | -64.4%-43.6pp | -20.8%+8.2pp | -38.2%-20.9pp |
| Return on Assets | -4.5%+17.3pp | -27.5%-7.6pp | 0.2%+8.1pp | -24.6%-10.5pp | -21.8%-2.7pp | -20.0%-9.8pp | -7.9%+5.5pp | -14.1%-4.4pp |
| Current Ratio | 10.49-6.3x | 12.71+5.6x | 11.54+6.5x | 14.97+9.0x | 16.75+12.7x | 7.09-2.2x | 5.01-4.1x | 5.93-3.4x |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 32.42+31.5x | 1.09+0.5x | 0.81+0.2x | 0.81+0.4x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x |
| 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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| NextNav Inc. Warrant NNAVW | FY2025 | $4.6M | -$189.3M | N/A | N/A | 32/100 |
| Strategy Inc Variable Rate Series A Perpetual Stretch Preferred Stock STRC | FY2025 | $477.2M | -$3.8B | N/A | N/A | 40/100 |
| Arqit Quantum Inc. Warrants ARQQW | FY2024 | $293K | -$54.6M | N/A | N/A | — |
| Gorilla Technology Group Inc. Warrant GRRRW | FY2024 | $74.7M | -$64.8M | -86.8% | N/A | 30/100 |
| APPTECH PAYMENTS CORP WTS APCXW | FY2025 | $1.4M | -$7.9M | N/A | N/A | 41/100 |
| Palladyne AI Corp Warrants PDYNW | FY2025 | $5.2M | $10.0M | N/A | N/A | 54/100 |