Nextnav Inc - NN STOCK NEWS

NextNav Inc. (NASDAQ: NN) reported its fourth quarter and full year 2021 results, highlighting $2.4 million in customer billings. The company ended 2021 with a robust balance sheet, featuring $100 million in cash and zero debt. Key partnerships were established during the year, including agreements with Qualcomm and Bosch Sensortec. Despite increased revenues, NextNav faced an operating loss of $(42.4) million for the year, up from $(29.5) million in 2020. CEO Ganesh Pattabiraman expressed optimism about growth in 3D geolocation services and upcoming international opportunities.

NextNav announces the addition of two new executives to strengthen its leadership team. Ed Mortimer joins as Vice President of Government Affairs, bringing over 30 years of experience in infrastructure legislation and regulation. He previously held a significant role at the U.S. Chamber of Commerce. Robert Lantz becomes General Counsel, with two decades of legal experience in technology and telecommunications, and has previously supported NextNav through its merger with Spartacus Acquisition Company. These hires aim to accelerate NextNav's mission in advanced GPS technology.

NextNav Inc. (NASDAQ: NN) announced its inaugural Annual Meeting of Stockholders, scheduled for May 18, 2022, with March 18, 2022, set as the record date for eligibility. Stockholders wishing to submit proposals for inclusion in the proxy materials must do so by the deadline. NextNav specializes in next-generation GPS and 3D geolocation technologies, with a focus on enhancing location services and maintaining resilient infrastructure. The press release includes forward-looking statements regarding growth and potential risks associated with the business operations.

NextNav (Nasdaq: NN) will report its Q4 2021 financial results on March 23, 2022, after market close. A conference call is scheduled for the same day at 5:00 PM ET to discuss the results. The company specializes in next-generation GPS and geolocation, with their NextNav Pinnacle and NextNav TerraPoiNT systems providing enhanced location services and infrastructure resilience. Registration for the call is available online, and a live webcast will also be accessible for participants.

NextNav Inc. (NASDAQ: NN) will showcase its advancements at the 34^th Annual ROTH Conference on March 14, 2022, at 10:00 AM PT. CEO Ganesh Pattabiraman will present, highlighting the company’s cutting-edge GPS and 3D geolocation technology. The event includes various sessions with approximately 400 companies across diverse sectors. Interested parties can request one-on-one meetings via email. A live webcast of the presentation will be available on the NextNav investor relations website.

NextNav (Nasdaq: NN) has partnered with echo3D to enhance the development of 3D, augmented reality (AR), and virtual reality (VR) content. Through this collaboration, echo3D developers will leverage NextNav’s Pinnacle vertical location service to create immersive digital experiences linked to real-world locations. The partnership aims to unlock new opportunities for AR and VR applications, allowing for location-based interactions in multistory environments. Additionally, NextNav’s Pinnacle received Unity Verified Solution status, broadening access to its vertical location technology for game developers.

NextNav (Nasdaq: NN) has partnered with Critical Response Group (CRG) to enhance public safety through advanced indoor mapping solutions. This collaboration will integrate NextNav Pinnacle technology, providing critical vertical location data to improve emergency response. The partnership aims to equip thousands of building owners and public safety agencies with enhanced mapping capabilities, ensuring effective emergency preparations. NextNav Pinnacle currently covers over 4,400 cities across the U.S., delivering precise vertical location services for public safety.

NextNav (Nasdaq: NN) demonstrated its TerraPoiNT technology during a trial for the European Commission's Joint Research Centre in Italy. The test evaluated alternative positioning, navigation, and timing (APNT) technologies to provide reliable PNT services independent of GNSS.

The study highlights that PNT services contribute approximately 10% to European GDP, with potential economic losses of 1 billion EUR per day if GNSS fails. Results of the JRC evaluation are expected in spring 2022.

NextNav has partnered with a major wireless carrier to implement its Pinnacle 911 solution, enhancing vertical location for Enhanced 911 (E911) in over 4,400 U.S. cities. This service significantly improves emergency response by allowing accurate location tracking inside multi-story buildings, exceeding FCC's Z-axis requirements. The technology delivers floor-level accuracy (±3m) 94% of the time, which is pivotal for public safety. The partnership aims to reduce emergency response times by over 80%, thus saving lives and enhancing safety.