Segments

3 Months Ended

Mar. 31, 2026

Segments

Segments

13. Segments

NextNav operates as one operating segment. Information on the Company’s products and service offerings are included in Note 1 - Organization and Business. The accounting policies of the single operating segment are the same as those described in Note 2 - Summary of Significant Accounting Policies.

NextNav’s CODM is its Chief Executive Officer, who reviews financial information presented on an entity-wide basis for purposes of making operating decisions, assessing financial performance, and allocating resources.

The CODM assesses performance and decides how to allocate resources based on consolidated net loss that also is reported on the Consolidated Statements of Comprehensive Loss. Consolidated net loss is used to monitor budget versus actual results and in the annual budgeting and forecasting process. The measure of segment assets is reported on the Consolidated Balance Sheets as total consolidated assets. The CODM reviews cash flow forecasts in making capital and investment decisions. The CODM considers budget-to-actual variances in consolidated net loss monthly in determining performance and the compensation of employees.

NextNav did not have any intra-entity sales or transfers during the three months ended March 31, 2026 and 2025.

The Company reclassified certain expenses between significant expense categories presented in the segment financial information below for all periods to align with the changes in the financial reporting presented to the CODM. Segment financial information for the three months ended March 31, 2026 and 2025 is as follows:

	Three Months Ended March 31,
	2026		2025
Revenue	$	(995)	$	(1,539)
Less:
Technology development expenses		3,024		2,474
Business operation expenses		4,291		4,024
General and administrative expenses		6,463		6,456
Depreciation and amortization		1,534		1,452
Interest expense, net		3,913		2,738
Change in fair value of warrants and derivative liabilities		(12,605)		18,482
Other segment items1		4,940		24,434
Provision for income taxes		56		58
Consolidated net loss	$	10,621	$	58,579

1 Other segment items include equity-based compensation, debt extinguishment loss, non-cash other loss, non-cash rent expense, capitalized labor costs, accretion expense on asset retirement obligations and other income (loss).