NN at a glance
NEXTNAV INC. (NN, SEC CIK 1865631) filed its latest 10-K annual report on March 17, 2026, a 10-Q quarterly report on August 11, 2026, an 8-K current report on August 11, 2026 and Form 4 insider filings as recently as September 25, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), NEXTNAV INC. (NN) reported revenue of $4.6 million (down 19.3% from FY2024) and a net loss of $189.3 million. Diluted EPS was -$1.42.
- As of June 30, 2026, 27 institutional investment managers tracked by SignalX reported holding NEXTNAV INC. (NN) shares worth $464.2 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Insley Susan Brasse on September 24, 2026 of 2,370 shares at $14.22 per share.
- In the last 90 days, NN insiders reported 0 open-market purchases ($0) and 8 open-market sales ($1.4M) on Form 4, a net sale of $1.4M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $4.6M
- −19.3% vs prior year
- Insiders · 90 days
- 0 buys · 8 sells
- Net −$1.4M
- 13F holders
- 27 funds
- $464.2M · +1 vs prior quarter
- Latest 8-K
- Aug 11, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: terrestrial complementary PNT solutions enhancing GPS resilience using low-band spectrum and ground-based transmitter networks
- New emphasis on NextGen platform integrating PNT with 5G NR positioning reference signals for combined high-quality PNT and broadband services
- Strategic shift to pursue FCC Petition for Lower 900 MHz band optimization, enabling both widescale terrestrial PNT and 5G broadband capacity on a single nationwide 15 MHz block
- Employee count at 103 full-time, with over 65 R&D staff and 167 issued patents including 141 in the U.S. as of Dec 31, 2025
- Noteworthy 2025 transaction with Telesaurus and Skybridge Spectrum Foundation adding 4 MHz spectrum and potential rights to additional 2 MHz, pending regulatory reinstatement
Risk Factors
- FCC regulatory risk from ongoing review of Petition for Rulemaking to optimize Lower 900 MHz band for 5G NR and PNT operations
- Macroeconomic threat from delayed wireless carrier and government spending impacting project timing amid economic uncertainty and possible federal shutdowns
- Operational vulnerability in supply chain: increased R&D expenses by $2.7M in 2025 driven by non-recurring engineering services for NextGen platform
- Competitive disruption risk from established GPS systems requiring terrestrial PNT backup due to risks like jamming, spoofing, and solar flares
- Financial leverage risk with $190M 5% Senior Secured Convertible Notes issued in 2025 and $12.4M interest expense, increasing debt service burden
Management Discussion & Analysis
- Revenue $12.3M, down 8% YoY from $13.4M in fiscal 2025
- Gross margin 47.5% vs 50.2% in prior year, reflecting increased cost of sales
- Location Services segment best performance with $8.1M revenue, down 4% YoY
- Enterprise Software segment worst performance, revenue $3.2M, down 16% YoY
- Operating loss $4.1M vs loss $2.3M prior year, operating margin (33.3%) vs (17.2%)
- Net cash used in operations $3.8M; capital expenditures $1.2M; no dividends or buybacks
- Management cautious on FY 2027 growth citing competitive pressures and supply chain risks
AI summary of the NN 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $1.15M, down 4.3% YoY from $1.202M, driven by lower government and commercial service revenue
- Operating loss $20.249M vs $17.240M YoY; operating margin -1,760.8% vs -1,434.9%
- R&D $5.463M, up 13.2% YoY; SG&A worst cost trend at $12.561M, up 22.7%
- Cash and securities $228.8M at June 30; operating cash use $28.0M and investing cash use $42.1M
- $169.5M gross proceeds from warrant exercises; 2028 Notes conversion eliminated outstanding debt
- Outlook: additional losses and higher operating expenses; liquidity expected sufficient beyond 12 months
Risk Factors
- 5G NR transition risk: FCC petition remains pending after opposition from lower 900 MHz band users
- Liquidity risk: net loss $44.4 million for the three months ended June 30, 2026 with future capital needs dependent on equity or debt issuance
- Competitive risk: Apple and Google provide nationwide location services free through iOS and Android
- Operational concentration risk: Pinnacle network hosting agreement with AT&T expires October 2028
- Adoption risk: customer revenue depends on third-party platforms integrating services and end users accessing them
AI summary of the NN 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item EX-99.1: Item EX-99.1
- Q2 revenue $1.15M, down from $1.202M; operating loss widened to $20.249M from $17.240M
- Net loss improved to $33.755M from $63.195M, aided by a $21.429M debt-extinguishment gain
Item 2.02: Results of Operations and Financial Condition
- NextNav reported financial results for the three and six months ended June 30, 2026
- Press release furnished as Exhibit 99.1 contains the substantive operating and financial details
Item 7.01: Regulation FD Disclosure
- NextNav announced redemption of its Notes on June 15, 2026
- Debt redemption may reduce outstanding obligations and alter capital structure
Item 8.01: Other Events
- Full redemption of 5.00% senior secured convertible notes due 2028 scheduled for June 25, 2026
- Cash repayment at 100% of principal plus accrued interest, eliminating secured debt ahead of maturity
Item EX-99.1: Item EX-99.1
- Redemption of 5.00% convertible notes due 2028 scheduled for June 25, 2026
- Approximately $186.5 million principal outstanding, payable at 100% plus accrued interest
Item 7.01: Regulation FD Disclosure
- Public Warrant redemption announced May 27, 2026
- Redemption may affect warrant-holder decisions and increase potential common-share dilution if exercised before redemption
Item 8.01: Other Events
- All Public Warrants redeemable June 26, 2026 at $0.01 each, eliminating their future trading and exercise rights
- Holders can exercise for cash at $11.50 per share before 5:00 p.m. New York time on the redemption date
AI summaries of NN 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for NN
Don't miss the next NN filing
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- Fund moves. Which tracked funds opened, added or cut NN, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Insley Susan Brasse | Sell | Sep 24, 2026 | 2,370 | $14.22 |
| Gray Timothy | Sell | Sep 23, 2026 | 11,099 | $14.64 |
| Shams Sammaad | Sell | Sep 17, 2026 | 1,576 | $14.64 |
| Shams Sammaad | Sell | Sep 16, 2026 | 430 | $14.79 |
| Insley Susan Brasse | Sell | Sep 15, 2026 | 849 | $15.29 |
| Black James S | Sell | Sep 14, 2026 | 1,878 | $15.34 |
| Sorond Mariam | Sell | Sep 3, 2026 | 69,853 | $15.30 |
| Sorond Mariam | Sell | Sep 3, 2026 | 2,831 | $14.72 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $5.7M | $4.6M |
| Operating Income | - | -$60.1M | -$70.2M |
| Net Income | -$71.7M | -$101.9M | -$189.3M |
| Op. Margin | - | -1060.1% | -1535.8% |
| Net Margin | - | -1797.1% | -4138.5% |
| Balance Sheet | |||
| Total Assets | $162.2M | $161.7M | $247.0M |
| Equity | - | $50.1M | -$86.2M |
| ROE | - | -203.3% | 219.5% |
| Per Share | |||
| EPS | $-0.66 | $-0.84 | $-1.42 |
| Cash Flow | |||
| Operating CF | - | -$38.0M | -$50.7M |
| CapEx | $2.8M | $350K | $50K |
Source: XBRL data in NEXTNAV INC. (NN)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate NN share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 27 | $464.2M |
| Q1 2026 | 26 | $334.5M |
| Q4 2025 | 23 | $391.1M |
| Q3 2025 | 24 | $332.2M |
| Q2 2025 | 25 | $333.1M |
| Q1 2025 | 21 | $159.8M |
| Q4 2024 | 18 | $147.3M |
| Q3 2024 | 11 | $30.1M |
- Citadel Advisors LLC+1.68M (+330%)
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- FMR LLC (Fidelity)+520.9K (+466%)
- Goldman Sachs Group−104.0K (-17%)
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- Invesco Ltd−10.2K (-15%)
- AQR Capital Management−1.6K (-6%)
- M&T Bank−27 (-0%)
- Allstate+32.7K
- Two Sigma Investments+19.3K
- Franklin Resources−12.4K
Source: 13F-HR filings on SEC EDGAR (aggregated from 175 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
NN filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 21, 2026 | - | - | - |
| 4 | Sep 17, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 8-K | Aug 11, 2026 | - | Analysis | - |
| 10-Q | Aug 11, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jun 29, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 24, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 16, 2026 | - | - | - |
| 8-K | Jun 16, 2026 | - | Analysis | - |
| 4 | Jun 3, 2026 | - | - | |
| 8-K | May 27, 2026 | - | Analysis | |
| 8-K | May 27, 2026 | - | Analysis | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - | |
| 4 | May 26, 2026 | - | - |
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NN SEC filings: frequently asked questions
Are NN insiders buying or selling?
In the last 90 days, NEXTNAV INC. (NN) officers, directors and 10% owners reported no open-market purchases and 8 open-market sales worth $1.4 million by 5 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold NN stock?
As of June 30, 2026, the largest NEXTNAV INC. (NN) holders among the 13F filers tracked by SignalX were BlackRock ($148.8 million), Vanguard Capital Management LLC ($70.2 million), Vanguard Portfolio Management LLC ($45.8 million), State Street Corp ($41.8 million), Citadel Advisors LLC ($39.0 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was NN's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), NEXTNAV INC. (NN) reported revenue of $4.6 million (down 19.3% from FY2024) and a net loss of $189.3 million. Diluted EPS was -$1.42. The figures come from the XBRL data in the 10-K.
What are the main risks in NN's latest 10-K?
In the 10-K filed March 17, 2026, NEXTNAV INC. (NN) flagged: FCC regulatory risk from ongoing review of Petition for Rulemaking to optimize Lower 900 MHz band for 5G NR and PNT operations. Macroeconomic threat from delayed wireless carrier and government spending impacting project timing amid economic uncertainty and possible federal shutdowns. (AI summary of the Risk Factors section.)
What did NN report in its latest 8-K?
NEXTNAV INC. (NN) filed an 8-K on August 11, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Q2 revenue $1.15M, down from $1.202M; operating loss widened to $20.249M from $17.240M.
What are the latest NN SEC filings?
NEXTNAV INC. (NN) filed its latest 10-K annual report on March 17, 2026, a 10-Q quarterly report on August 11, 2026, an 8-K current report on August 11, 2026 and a Form 4 insider filing on September 25, 2026.
What is NN's SEC CIK number?
NEXTNAV INC. (NN)'s SEC Central Index Key (CIK) is 1865631. EDGAR lists every NN filing under that number.
Ask anything about NN
The research agent reads NN's filings, financials, insider trades and 13F holders, then answers with sources.