Welcome to our dedicated page for NextNav news (Ticker: NN), a resource for investors and traders seeking the latest updates and insights on NextNav stock.
NextNav Inc. (Nasdaq: NN) is a pioneering technology company specializing in next-generation Position, Navigation, and Timing (PNT) services. Headquartered in McLean, Virginia, NextNav is transforming the landscape of geolocation with its cutting-edge solutions designed to provide precise and resilient 3D positioning. Unlike traditional GPS systems, NextNav's technology delivers accurate location data even in environments where satellite signals fall short, such as inside buildings and densely populated urban areas.
NextNav's flagship solutions include the TerraPoiNT system, which ensures continuity of critical infrastructure by offering reliable PNT services in scenarios where GPS might be compromised. Another notable product is Pinnacle, which provides highly accurate vertical positioning, reflecting the 3D world around us and supporting innovative applications ranging from public safety to commercial uses.
Recently, NextNav made headlines by acquiring additional spectrum licenses in the lower 900 MHz band from Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation. This expansion adds 4 MHz to their existing portfolio, totaling 3.5 billion MHz-PoPs of low-band spectrum. This acquisition, subject to regulatory approvals including by the FCC, enhances NextNav's capacity to deliver robust PNT services and 5G broadband solutions.
Financially, NextNav reported solid results for the first quarter of 2024 under the leadership of CEO Mariam Sorond, reflecting the company's strategic advancements and operational effectiveness. Their commitment to innovation is further underscored by the recent petition to the FCC to reconfigure the Lower 900 MHz band to facilitate enhanced terrestrial PNT networks and broadband services.
NextNav’s vision is supported by a dedicated team of experts and a strong network of partners. The company's collaborative approach is evident in its numerous partnerships aimed at leveraging its PNT capabilities to address national security, public safety, and commercial needs. For more information, visit the company’s investor relations website at NextNav IR or follow them on Twitter and LinkedIn.
To stay up-to-date with the latest developments and financial performance, NextNav offers regular updates through conference calls and live webcasts. Details for these events can be found on their website, ensuring stakeholders remain informed about the company’s progress and strategic initiatives.
NextNav (Nasdaq: NN) co-founder and CTO Arun Raghupathy has received the Distinguished Alumni Award from the University of Maryland's Department of Electrical and Computer Engineering. As CTO, Raghupathy leads NextNav's engineering efforts across Systems, Algorithms, Hardware, Firmware and Software domains, contributing to the company's PNT and 3D geolocation technologies with over 50 issued patents. His prior experience includes key roles at Qualcomm and Texas Instruments, where he made significant contributions to cellular modem and GPS technology development.
NextNav Inc. (NASDAQ: NN) reported Q3 2024 financial results with revenue of $1.6 million, up from $1.0 million in Q3 2023. The company posted an operating loss of $13.9 million and a net loss of $13.6 million. A key highlight was The Brattle Group's report valuing a GPS backup system at $14.6 billion, comprising a $10.8 billion insurance policy against GPS outages and $3.8 billion in resiliency benefits. The company ended the quarter with $86.8 million in cash and equivalents and $53.0 million in net debt. NextNav continues to engage with stakeholders regarding its petition for a terrestrial PNT solution in the Lower 900 MHz Band.
NextNav (Nasdaq: NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, has announced its upcoming third quarter 2024 earnings call. The company will release its financial results for the quarter ended September 30, 2024, after market close on Wednesday, November 13, 2024. A conference call will be held the same day at 5:00 PM ET to discuss the results.
Interested parties can register for the call at the provided website. After registration, participants will receive call details and a registrant ID. The call will also be available via live webcast on NextNav's investor relations website. A replay of the call will be accessible through November 20, 2024, via phone or the company's website.
NextNav Inc. (NASDAQ: NN) reported Q2 2024 results, highlighting progress in strategic initiatives. Key developments include:
1. FCC's public notice seeking comments on NextNav's petition for rulemaking in the Lower 900 MHz band.
2. $1.9 million DOT award to test NextNav's PNT technology as a GPS complement and backup.
3. Appointment of Nicola Palmer to the Board of Directors.
Financial highlights:
- Q2 revenue: $1.1 million (up from $800,000 in Q2 2023)
- Q2 operating loss: $15.3 million
- Q2 net loss: $24.4 million
- Cash and equivalents: $86.3 million as of June 30, 2024
- Debt: $51.4 million net of unamortized discount
NextNav (Nasdaq: NN) announced that the FCC has released a public notice seeking comment on its innovative spectrum solution in the Lower 900 MHz band. This follows NextNav's April 16 rulemaking petition to reconfigure the band and adopt new rules for a terrestrial 3D PNT network to complement and back up GPS. The proposed rearrangement would also free up 15 MHz of low-band spectrum for 5G broadband while protecting incumbent operations.
NextNav CEO Mariam Sorond emphasized the importance of providing a GPS complement and backup for daily services, emergency caller location, and national security needs. The FCC has requested public comments due September 5, 2024, with reply comments due September 20, 2024. As the primary geographic licensee in the Lower 900 MHz Band, NextNav aims to utilize its expertise to develop PNT services and unlock spectrum potential.
NextNav (Nasdaq: NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, has announced its participation in Oppenheimer's 27th Annual Virtual Technology, Internet & Communications Conference. The event is scheduled for August 13, 2024.
Key details:
- CEO Mariam Sorond and CFO Chris Gates will represent NextNav
- Presentation time: 8:15 AM ET
- One-on-one meetings will be available
- A live webcast of the presentation can be accessed on NextNav's investor relations website
This conference provides NextNav an opportunity to showcase its innovative PNT and 3D geolocation technologies to potential investors and industry peers.
NextNav (Nasdaq: NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, has announced its second quarter 2024 earnings call schedule. The company will release its financial results for the quarter ended June 30, 2024, after market close on Wednesday, August 7, 2024. A conference call will follow at 5:00 PM ET on the same day to discuss the results.
Interested parties can register for the conference call through a provided website link. Alternatively, a live webcast will be available on NextNav's investor relations website. A replay of the call will be accessible via phone through August 14, 2024, by dialing specific numbers for U.S. and international callers.
NextNav (Nasdaq: NN), a leader in advanced positioning, navigation, timing (PNT) and 3D geolocation, has been awarded a contract by the U.S. Department of Transportation (U.S. DOT) to test its 3D PNT technology. This technology aims to provide essential PNT services when GPS is unavailable or compromised due to environmental or other disruptions. The award, part of the U.S. DOT's Complementary PNT Action Plan, highlights the capability of NextNav's terrestrial solutions to serve as a reliable backup to GPS.
NextNav's technology, recognized as the best-performing PNT technology by the U.S. DOT in 2021, offers accurate 3D positioning in various environments, including urban and indoor locations. It also features a timing source to maintain functionality when GPS is impaired. This initiative aligns with NextNav's goal to support national security, economic stability, and public safety through robust PNT solutions.
NextNav (Nasdaq: NN) has appointed Nicola Palmer to its Board of Directors, effective June 24, 2024. Palmer, a former Verizon executive with extensive experience in 5G development and growth, will also serve on the Audit Committee. This brings the total number of directors to seven. Palmer's background includes significant roles at Verizon, where she served as Chief Product Officer, CTO, Chief Engineering Officer, and Head of Wireless Networks. She holds degrees from Penn State and the Wharton School. Palmer has been widely recognized in the industry and is an advocate for STEM careers, especially for young women.
NextNav (Nasdaq: NN) has appointed Jonathan A. Marcus to its Board of Directors, effective May 16, 2024. Marcus brings extensive experience in financial markets, business strategy, and corporate finance, which is expected to assist NextNav in advancing its strategic goals. He currently serves as Chairman of Alimco Financial and has a significant history in investment banking and financial advisory roles, including positions at Prudential-Bache Securities and Credit Suisse First Boston. Marcus expressed enthusiasm about joining NextNav at a important growth phase and supporting its deployment of spectrum solutions in the Lower 900 MHz band.
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