# NextNav Inc. (NN)

> Source: Nexqual · https://nexqual.com/NN · data as of 2026-11-03 21:00 UTC · cite as "Nexqual, NextNav Inc. (NN), nexqual.com/NN" · informational, not investment advice.

**Price:** USD 9.85 (+2.39% on the day) · last close of Nov 3, 2026; US market after hours, not a live price. Prev close 9.62 · day 9.52–10.33 · 52w 8.98–24.42 · market cap $1.66B · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.0M, net income -$112M (-2812.5% margin), free cash flow -$53.1M (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 33.67 (range 22–50).
- Total return with dividends: 1Y -17.8% vs S&P 500 +12.9%; 5Y +9.0% vs S&P 500 +72.1%.
- Next earnings: 2026-11-10, EPS estimate USD -0.12, revenue estimate $987K. All companies reporting that day: https://nexqual.com/earnings/2026-11-10
- Dividend: NN paid no cash dividend in the last five years.
- Short interest: 17.04% of float (as of 2026-10-15), 7.5 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $763K | $3.9M | $3.9M | $5.7M | $4.6M | $4.0M |
| Gross profit | $531K | $1.5M | $1.5M | $4.9M | — | — |
| Operating income | -$42.4M | -$65.5M | -$63.5M | -$60.1M | -$70.2M | -$75.6M |
| Net income | -$145M | -$40.1M | -$71.7M | -$102M | -$189M | -$112M |
| EPS (diluted) | -$6.73 | -$0.40 | -$0.66 | -$0.84 | -$1.42 | — |
| Free cash flow | -$49.0M | -$40.1M | -$38.2M | -$38.4M | -$50.8M | -$53.1M |
| Gross margin | 69.6% | 39.1% | 40.0% | 87.1% | — | — |
| Operating margin | -5560.8% | -1669.3% | -1645.0% | -1060.1% | -1535.8% | -1900.4% |
| Net margin | -18960.2% | -1021.8% | -1857.5% | -1797.1% | -4138.5% | -2812.5% |
| Revenue growth | +34.1% | +414.5% | -1.6% | +46.8% | -19.3% | — |
| Cash + short-term investments | $100M | $55.4M | $85.8M | $80.1M | $152M | — |
| Total debt | — | — | $48.4M | $54.6M | $274M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 418.1x · P/B 5.0x · FCF yield -3.19% · Earnings yield -6.73%

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 33.67 (low 22, high 50).

## Total return (dividends reinvested)
|  | 1Y (from 2025-11-04) | 5Y (from 2021-11-01) |
|---|---|---|
| Total return | -17.8% | +9.0% |
| S&P 500 (SPY) | +12.9% | +72.1% |
| Per year | -17.8% | +1.7% |
| Volatility (annualized) | 82.0% | 74.4% |
| Max drawdown | -61.0% (Jun 2026→Oct 2026) | -81.1% (Nov 2021→Mar 2023) |

## Dividends
NN paid no cash dividend in the last five years.

## Short interest
22,861,504 shares sold short, 17.04% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 17,794,038 shares (+28.5%). Days to cover: 7.5 (short shares ÷ average daily volume).

## Peers (Software - Infrastructure)
OPAY (OPay Limited) USD 19 +0.00% · CORZ (Core Scientific, Inc.) USD 14.24 +13.87% · PAY (Paymentus Holdings, Inc.) USD 31.02 -11.50% · BB (BlackBerry Limited) USD 8.19 +2.12% · TENB (Tenable Holdings, Inc.) USD 47.03 -0.89% · RELY (Remitly Global, Inc.) USD 25.38 +0.18%

## More
Full page: https://nexqual.com/NN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.12 | $-0.11 | −$0.01 | $986,500 | 2 |
| Next quarter (ends 2026-12-31) | $-0.12 | $-0.11 | −$0.01 | $998,000 | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.46 | $-0.59 | +$0.13 | $4.1M | 1 |
| Next fiscal year (ends 2027-12-31) | $-0.57 | $-0.53 | −$0.04 | $3.2M | 1 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.39 | −$0.15 | Miss −160.0% | — |
| — | Quarter ended Mar 31, 2026 | −$0.08 | −$0.15 | Beat +46.7% | — |
| — | Quarter ended Dec 31, 2025 | −$0.50 | −$0.13 | Miss −284.6% | — |
| — | Quarter ended Sep 30, 2025 | −$0.12 | −$0.14 | Beat +14.3% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-14 | Schedule 13G/A | FIG Buyer GP LLC, FCOF V UST LLC: 12.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1865631/000101297526000771/0001012975-26-000771-index.htm |
| 2026-08-14 | Schedule 13G/A | Capital Ventures International, Susquehanna Advisors Group, Inc.: 5.4% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1865631/000101171226000025/0001011712-26-000025-index.htm |
| 2026-08-13 | Schedule 13G/A | Joseph D. Samberg, The Joseph D. Samberg Revocable Trust: 7.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1865631/000110465926096157/0001104659-26-096157-index.htm |
| 2026-08-13 | Schedule 13G/A | Wolf Hill Capital Management, LP, Wolf Hill General Partner, LLC: 2.1% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1865631/000089914026000824/0000899140-26-000824-index.htm |
| 2026-08-11 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1865631/000155485526001789/0001554855-26-001789-index.htm |
| 2026-08-11 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1865631/000155485526001788/0001554855-26-001788-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.