Organization and Business	12 Months Ended
Dec. 31, 2025
Organization and Business
Organization and Business	1. Organization and Business Principal Business NextNav Inc., together with its consolidated subsidiaries (“NextNav” or the “Company”) is the market leader in delivering resilient, next generation, complementary positioning, navigation and timing (“PNT”) solutions designed to overcome the limitations and vulnerabilities of existing space-based Global Navigation Satellite Systems (“GNSS”), including the Global Positioning System (“GPS”). The Company is evolving its PNT solutions to use 5G New Radio (“5G NR”) positioning reference signals (“PRS”), under the 3GPP global standard, to determine location and timing - a platform the Company refers to as NextGen. The Company believes the evolution of its existing technologies and services to a 5G NR PRS capability will improve the efficiency, flexibility, and scale of its operations. 5G NR technologies drive enhanced network performance, capacity, and efficiency across multiple industry verticals. Since its inception, NextNav has incurred recurring losses and generated negative cash flows from operations and has primarily relied upon debt and equity financings to fund its cash requirements. During the years ended December 31, 2025 and 2024, the Company incurred net losses of $189.3 million and $101.9 million, respectively. During the years ended December 31, 2025 and 2024, net cash used in operating activities was $50.7 million and $38.0 million, respectively. As of December 31, 2025, cash and cash equivalents and marketable securities was $152.1 million. The Company’s primary use of cash is to fund operations as NextNav continues to perform research and development and grow. The Company expects to incur additional losses and higher operating expenses for the foreseeable future, specifically as NextNav invests in ongoing research and development and its PNT networks. Managing liquidity and the Company’s cash position is a priority of the Company. The Company continually works to optimize its expenses in light of the growth of its business and adapt to changes in the economic environment. The Company believes that the cash and cash equivalents and marketable securities as of December 31, 2025 will be sufficient to meet its working capital and capital expenditure needs, including all contractual commitments, beyond the next 12 months from the date of filing this Annual Report on Form 10-K. The Company believes it will meet longer term expected future cash requirements and obligations through a combination of its existing cash and cash equivalents balances and marketable securities, cash flows from operations, and issuance of equity securities or debt offerings. However, this determination is based upon internal financial projections and is subject to changes in market and business conditions.

Organization and Business

12 Months Ended

Dec. 31, 2025

1. Organization and Business

Principal Business

NextNav Inc., together with its consolidated subsidiaries (“NextNav” or the “Company”) is the market leader in delivering resilient, next generation, complementary positioning, navigation and timing (“PNT”) solutions designed to overcome the limitations and vulnerabilities of existing space-based Global Navigation Satellite Systems (“GNSS”), including the Global Positioning System (“GPS”).

The Company is evolving its PNT solutions to use 5G New Radio (“5G NR”) positioning reference signals (“PRS”), under the 3GPP global standard, to determine location and timing - a platform the Company refers to as NextGen. The Company believes the evolution of its existing technologies and services to a 5G NR PRS capability will improve the efficiency, flexibility, and scale of its operations. 5G NR technologies drive enhanced network performance, capacity, and efficiency across multiple industry verticals.

Since its inception, NextNav has incurred recurring losses and generated negative cash flows from operations and has primarily relied upon debt and equity financings to fund its cash requirements. During the years ended December 31, 2025 and 2024, the Company incurred net losses of $189.3 million and $101.9 million, respectively. During the years ended December 31, 2025 and 2024, net cash used in operating activities was $50.7 million and $38.0 million, respectively. As of December 31, 2025, cash and cash equivalents and marketable securities was $152.1 million. The Company’s primary use of cash is to fund operations as NextNav continues to perform research and development and grow. The Company expects to incur additional losses and higher operating expenses for the foreseeable future, specifically as NextNav invests in ongoing research and development and its PNT networks.

Managing liquidity and the Company’s cash position is a priority of the Company. The Company continually works to optimize its expenses in light of the growth of its business and adapt to changes in the economic environment. The Company believes that the cash and cash equivalents and marketable securities as of December 31, 2025 will be sufficient to meet its working capital and capital expenditure needs, including all contractual commitments, beyond the next 12 months from the date of filing this Annual Report on Form 10-K. The Company believes it will meet longer term expected future cash requirements and obligations through a combination of its existing cash and cash equivalents balances and marketable securities, cash flows from operations, and issuance of equity securities or debt offerings. However, this determination is based upon internal financial projections and is subject to changes in market and business conditions.