Exhibit 99.1

NextNav Inc. Reports First Quarter 2025 Results and Operational Highlights

FCC releases Notice of Inquiry (NOI) with bipartisan 4-0 vote

NextNav Announces Appointment of Rear Admirals H. Wyman Howard and Lorin Selby to its Board of Directors

RESTON, Va., May 9, 2025 (GLOBE NEWSWIRE) -- NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported its financial results and operational updates for the quarter ended March 31, 2025.

“During the quarter we saw continued FCC momentum with a unanimous vote in March to further explore PNT solutions, specifically including NextNav’s,” said NextNav’s CEO, Mariam Sorond. “We remain focused on executing against our goals and addressing an urgent national security need for a terrestrial complement and backup to GPS. We look forward to working with the FCC and the rest of the industry to enable PNT resiliency.”

Recent Operational Highlights

• Announced Appointment of Two New Members to Board of Directors: On April 16, 2025, NextNav announced the appointment of Retired Rear Admirals H. Wyman Howard and Lorin Selby to its Board of Directors, effective May 1, 2025.

 

• FCC Releases Notice of Inquiry (NOI): On March 27, 2025, the FCC unanimously voted to approve the NOI titled Promoting the Development of PNT Technologies and Solutions to explore how the Commission may foster GPS backups and alternatives, underscoring the FCC’s focus on this issue. On April 28, 2025, NextNav filed comments with the FCC emphasizing the importance of at least one future-proof solution that relies on market forces to deliver a terrestrial, widescale PNT solution that is broadly available to critical infrastructure, public safety, and consumers, and has a clear path to incorporation in end-user devices.

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Three Months Ended March 31, 2025 Financial Highlights

• Revenue: was $1.5 million in the three months ended March 31, 2025, as compared to $1.0 million in the prior year period. The increase was driven by an increase in service revenue from technology and services contracts with government and commercial customers.

 

• Operating Loss: was $17.0 million in the three months ended March 31, 2025, as compared to an operating loss of $16.2 million in the prior year period, primarily driven by higher professional fees and outside consulting expenses, partially offset by reductions in software license costs and payroll-related expenses.

 

• Net Loss: was $58.6 million in the three months ended March 31, 2025, including a loss on change in the fair value of derivative liability of $24.5 million and debt extinguishment loss of $14.4 million, as compared to a net loss of $31.6 million in the prior year period, including a loss on the fair value of the warrants of $13.2 million.

 

• Balance Sheet: as of March 31, 2025, the Company had $150.4 million in cash and cash equivalents and $38.0 million in short-term investments. Net long term debt of $213.1 million includes derivative liability of $56.5 million, and is net of unamortized discount of $33.4 million, with a face value of $190.0 million.

 

Conference Call Information

NextNav will host a conference call for analysts and investors at 9:00 am ET on Friday, May 9, 2025.

Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://registrations.events/direct/Q4I6293672417. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast.

To access the live webcast or a replay, visit the Company’s investor relations website at https://ir.nextnav.com/.

A replay will be available through March 16, 2025. To receive replay details, please register through the link above. After registering for replay details, each participant will be provided with call details and access codes to listen to the call playback.

About NextNav Inc.

NextNav Inc. (Nasdaq: NN) is a leader in next generation positioning, navigation and timing (PNT), enabling a whole new ecosystem of applications and services that rely upon 3D geolocation and PNT technology. Powered by low-band licensed spectrum, NextNav's positioning and timing technologies deliver accurate, reliable, and resilient 3D PNT solutions for critical infrastructure, GPS resiliency and commercial use cases.

For more information, please visit https://nextnav.com/ or follow NextNav on Twitter or LinkedIn.

Source: NN-FIN

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to NextNav’s future prospects, developments and business strategies. In particular, such forward-looking statements include the achievement of certain FCC-related milestones and FCC approvals, the ability to realize the broader spectrum capacity and the advancement of NextNav’s terrestrial 3D PNT services, NextNav’s position to drive growth in its 3D geolocation business and expansion of its next generation terrestrial 3D PNT technologies, the business plans, objectives, expectations and intentions of NextNav, and NextNav’s estimated and future business strategies, competitive position, industry environment, potential growth opportunities, revenue, expenses, and profitability. These statements are based on NextNav’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

 

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NextNav’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to, those included in Part II, Item 1A, “Risk Factors” of the Company’s quarterly reports on Form 10-Q, and Part I, Item 1A, “Risk Factors” of the NextNav’s Annual Report on Form 10-K for the year ended December 31, 2024, as well as those otherwise described or updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”). You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and NextNav undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Sloane & Company

[email protected] 

 

NextNav Inc.

CONDENSED Consolidated Balance Sheets

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NextNav INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(UNAUDITED)

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

 

 

 

 NextNav INC.

CONDENSED Consolidated Statements of Cash Flows

(UNAUDITED)

(IN THOUSANDS)