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Provides a terrestrial positioning and timing network that backs up GPS, plus holds wireless spectrum for location services.
Provides a terrestrial positioning and timing network that backs up GPS, plus holds wireless spectrum for location services.
Revenue so far is small; the main asset is a nationwide block of 900 MHz radio licences, which it has asked the US regulator, the FCC, to let it reconfigure for positioning and wireless use. Its altitude-sensing network can tell emergency services which floor a caller is on, a capability US emergency-call rules call for.
Moat: narrow (regulatory licence, IP / patents). Licensed nationwide spectrum and patented terrestrial positioning technology are difficult to replicate.
Headquarters: Sarasota, Florida, United States · Founded: 2000 · Employees: 103
Size NextNav (NN) is a United States Information Technology company (Packaged Software) with a market value of $1.45B, the 2014th largest of 3,117 United States companies the cockpit tracks. Shares closed at $8.61 on 6 Nov 2026.
Performance Over six months the shares fell 56.5%, against -23.1% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 36.5% over the last twelve months (peer median +10.2%); the operating margin is -1,900.4% (peer median 5.1%).
Valuation It trades at 311.2× enterprise value to sales against a peer median of 2.8× (most expensive of 21).
Capital Return on invested capital runs 61.1 points below its cost of capital (10.8% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.98M | $4.57M | $5.67M | $3.86M | $3.93M |
| Revenue growth | — | -19% | +47% | -2% | — |
| Gross profit | -$12.0M | -$11.7M | -$10.3M | -$13.7M | -$11.6M |
| EBITDA | -$67.8M | -$62.5M | -$54.9M | -$58.7M | -$61.9M |
| Net income | -$112M | -$189M | -$102M | -$71.7M | -$40.1M |
| Free cash flow | -$53.1M | -$50.8M | -$38.4M | -$38.2M | -$40.1M |
| Capital expenditure | $547,000 | $474,000 | $792,000 | $3.73M | $3.58M |
| Total debt | $13.2M | $289M | $71.4M | $66.1M | $7.82M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| NextNav NN | $1.45B | -56% | -36% | -1,900% | 311.2× | n/a |
| Iridium Communications IRDM | $4.68B | +6% | +4% | 19% | 7.4× | 21.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.8% | +0.8% | lowest of 21 |
| 6-month return | -56.5% | -23.1% | lowest of 20 |
| Distance from 52-week high | -64.7% | -44.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | -36.5% | +10.2% | 3rd lowest of 21 |
| Operating margin | -1,900.4% | 5.1% | lowest of 21 |
| EV / Sales | 311.2× | 2.8× | most expensive of 21 |
| ROIC minus cost of capital | -61.1 pp | -4.2 pp | lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NextNav NN | United States | $1.45B | -56% | -36% | -1,900% | 311.2× | n/a | n/a |
| GO Inc. 581A.T | Japan | $1.45B | n/a | +32% | 17% | 4.6× | 34.7% | +31.9% |
| EverCommerce EVCM | United States | $1.45B | -31% | -7% | 13% | 3.1× | 11.6% | +11.8% |
| Systex 6214.TW | Taiwan | $1.46B | +54% | +34% | 3% | 0.7× | -12.4% | +13.1% |
| PearlAbyss 263750.KS | South Korea | $1.47B | -44% | +114% | 40% | 1.9× | n/a | n/a |
| Exzeo XZO | United States | $1.47B | +21% | +329% | 49% | 6.0× | -8.4% | +59.0% |
| Pagaya Technologies PGY | United States | $1.47B | +15% | +11% | 22% | 1.7× | 4.1% | +68.9% |
| Alkami Technology ALKT | United States | $1.44B | -25% | +24% | -5% | 3.3× | 12.6% | +31.7% |
| Phancy 6682.HK | Hong Kong | $1.48B | -45% | +42% | -5% | 1.2× | n/a | n/a |
| Fractal Analytics FRACTAL.NS | India | $1.49B | -27% | +19% | 12% | 3.8× | 31.4% | +18.5% |
| Shenzhen Kingdom Sci-tech 600446.SS | China | $1.41B | -27% | -22% | -6% | 3.7× | n/a | n/a |
| Wuxi Boton Technology 300031.SZ | China | $1.50B | +8% | +22% | 2% | 2.5× | 30.2% | +5.6% |
| BlackLine BL | United States | $1.50B | -15% | +9% | 7% | 2.3× | 12.1% | +14.8% |
| YGsoft 002063.SZ | China | $1.51B | -16% | +5% | 13% | 3.9× | 16.3% | +8.9% |
| Longshine Technology 300682.SZ | China | $1.39B | -35% | +7% | -9% | 1.9× | 49.4% | +6.0% |
| Playtech PTEC.L | United Kingdom | $1.39B | +7% | -54% | 0% | 1.4× | -6.0% | -7.4% |
| Wondershare Technology 300624.SZ | China | $1.38B | -25% | -8% | -12% | 6.5× | n/a | n/a |
| Lightspeed Commerce LSPD.TO | Canada | $1.38B | +9% | +11% | -9% | 0.8× | 13.5% | +42.0% |
| Yusys Technologies 300674.SZ | China | $1.53B | -23% | -11% | 8% | 2.4× | 15.6% | +4.0% |
| Digiwin 300378.SZ | China | $1.54B | -2% | +10% | 9% | 4.0× | n/a | n/a |
| CloudWalk Technology 688327.SS | China | $1.54B | -28% | -47% | -165% | 35.4× | n/a | n/a |