NN on Nasdaq

NEXTNAV INC.

American search company that raised $205 million in 2025 (SEC Form D).

Price unavailable

Last updated Oct 18, 2026.

Overview

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  • TickerNN on Nasdaq
  • IndustrySearch, Detection, Navigation, Guidance, Aeronautical Sys
  • HeadquartersDE
  • Incorporated inDE2
  • Business address11911 Freedom Drive, Ste 200, Reston, Va 201902
  • Filer categoryNon-accelerated filer, Emerging growth company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-1535.8%Operating margin3
-4138.5%Net margin3
-19.3%Revenue growth, 20253
-$50.8MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Commercial Services brought in 82% of the revenue NEXTNAV INC. broke down this way in fiscal 2025.

  1. Commercial Services$3.8M382%down 18% from 2024
  2. Government Contract Services$814.0K318%down 24% from 2024
Products and services by year
Products and services20242025
Commercial Services$4.6M$3.8M
Government Contract Services$1.1M$814.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development32¢$19.0M
  • Selling, general and admin67¢$39.6M
  • Income tax0¢$198.0K

Out of $4.6M in revenue.3 The company lost money this year.

Financial statements

Revenue45673$4.6M in 2025+704% since 2020
0$2.0M$4.0M$6.0M2020: $569.0K$569.0K20202021: $763.0K$763.0K2021+34%2022: $3.9M$3.9M2022+415%2023: $3.9M$3.9M2023−2%2024: $5.7M$5.7M2024+47%2025: $4.6M$4.6M2025−19%
Operating income45673-$70.2M in 2025+138% since 2020
-$80.0M-$60.0M-$40.0M-$20.0M02020: -$29.5M-$29.5M20202021: -$42.4M-$42.4M2021+44%2022: -$65.5M-$65.5M2022+54%2023: -$63.5M-$63.5M2023−3%2024: -$60.1M-$60.1M2024−5%2025: -$70.2M-$70.2M2025+17%
Net income45673-$189.3M in 2025+38% since 2020
-$200.0M-$150.0M-$100.0M-$50.0M02020: -$137.3M-$137.3M20202021: -$144.7M-$144.7M2021+5%2022: -$40.1M-$40.1M2022−72%2023: -$71.7M-$71.7M2023+79%2024: -$101.9M-$101.9M2024+42%2025: -$189.3M-$189.3M2025+86%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-12-312024-12-31
Revenue$4.6M$5.7M
Cost of goods sold (exclusive of depreciation and amortization)$8.5M$10.8M
Research and development$19.0M$16.2M
Selling, general and administrative$39.6M$33.5M
Depreciation and amortization$7.8M$5.2M
Total operating expenses$74.8M$65.8M
Operating loss-$70.2M-$60.1M
Interest expense, net-$12.4M-$9.4M
Debt extinguishment loss-$14.4M
Change in fair value of warrants-$5.7M-$33.2M
Change in fair value of derivative liability-$77.2M
Other income (loss), net-$9.1M$970.0K
Loss before income taxes-$189.1M-$101.7M
Provision for income taxes-$198.0K-$173.0K
Foreign currency translation adjustment$3.1M-$1.5M
Comprehensive loss-$186.1M-$103.4M
Net loss-$189.3M-$101.9M
Net loss attributable to common stockholders-$189.3M-$101.9M
Weighted average of shares outstanding basic (in shares)132.9K shares121.5K shares
Weighted average of shares outstanding diluted (in shares)132.9K shares121.5K shares
Net loss attributable to common stockholders per share - basic (in dollars per share)-$1.42-$0.84
Net loss attributable to common stockholders per share - diluted (in dollars per share)-$1.42-$0.84

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Leadership

Who has led NEXTNAV INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ganesh Pattabiraman2021–2023
  2. Mariam Sorond2023–now

President

  1. Ganesh Pattabiraman2021–2022
  2. Mariam Sorond2023–now

Chief financial officer

  1. Christian D. Gates2021–2025
  2. Timothy Gray2025–now

Chief operating officer

  1. Sanyogita Shamsunder2024
  2. Susan Brasse Insley2025–now
2025
Board members and other officers (20)

Former names

  • Spartacus Acquisition Shelf Corp.Jun 10, 2021 to Oct 22, 20212

Timeline

  1. Dec 1, 2023New chief executive Mariam Sorond becomes CEO11
  2. Oct 28, 2021New chief executive Ganesh Pattabiraman becomes CEO12

Filings

640 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 59 major events, 285 insider forms, 64 large holders, 2 private raises, 210 other. The latest 20:

  1. Sep 25, 20264 PRIMARY DOCUMENT EDGAR
  2. Sep 25, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 24, 2026144 EDGAR
  4. Sep 23, 2026144 EDGAR
  5. Sep 21, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 17, 2026144 EDGAR
  7. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  8. Sep 16, 2026144 EDGAR
  9. Sep 16, 2026144 EDGAR
  10. Sep 16, 20264 PRIMARY DOCUMENT EDGAR
  11. Sep 16, 20264 PRIMARY DOCUMENT EDGAR
  12. Sep 16, 20264 PRIMARY DOCUMENT EDGAR
  13. Sep 15, 2026144 EDGAR
  14. Sep 14, 2026144 EDGAR
  15. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  16. Sep 1, 2026144 EDGAR
  17. Aug 14, 2026SCHEDULE 13G/A EDGAR
  18. Aug 14, 2026SCHEDULE 13G/A EDGAR
  19. Aug 13, 2026SCHEDULE 13G/A EDGAR
  20. Aug 13, 2026SCHEDULE 13G/A EDGAR

The 640 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 64 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Aug 14, 2026SCHEDULE 13G/A
  3. Aug 13, 2026SCHEDULE 13G/A
  4. Aug 13, 2026SCHEDULE 13G/A
  5. May 22, 2026SCHEDULE 13D/A
  6. May 21, 2026SCHEDULE 13G
  7. May 15, 2026SCHEDULE 13G/A
  8. May 14, 2026SCHEDULE 13G
  9. Mar 27, 2026SCHEDULE 13G/A
  10. Feb 17, 2026SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 27, 2025Raised $190 million in a private offering of debt Form D: 15 investors so far Form D
  2. Oct 31, 2022Raised $15 million in a private offering of equity Form D: 32 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fortress Investment Group LLC18,167,792$323.9M61.0%+3,989,738
Clutterbuck Capital Management LLC8,964,292$159.8M92.0%−336,514
BlackRock, Inc.8,345,940$148.8M0.0%+868,345
Susquehanna Advisors Group, Inc.5,550,124$99.0M2.8%No change
Vanguard Capital Management LLC3,934,461$70.2M0.0%+31,802
Milfam LLC3,267,920$58.3M46.2%+752,707
PointState Capital LP3,114,953$55.5M1.0%New
Wolf Hill Capital Management, LP2,738,547$48.8M4.7%−4,301,644
Van Eck Associates Corp2,730,772$48.7M0.0%+804,865
Vanguard Portfolio Management LLC2,570,992$45.8M0.0%+218,616
Geode Capital Management, LLC2,554,434$45.6M0.0%+212,064
State Street Corp2,343,255$41.8M0.0%+108,338
Citadel Advisors LLC2,188,090$39.0M0.0%+1,679,569
Millennium Management LLC1,873,548$33.4M0.0%+535,377
Whitefort Capital Management, LP1,596,116$28.5M7.3%+1,535,461
UBS Group AG1,336,198$23.8M0.0%−1,286,400
Plustick Management LLC1,250,000$22.3M9.4%−458,000
Jane Street Group, LLC1,215,747$21.7M0.0%+140,205
Ancora Advisors LLC1,083,439$19.3M0.4%−1,086,736
Susquehanna International Group, Llp1,081,680$19.3M0.0%+12,348
Group One Trading LLC1,029,972$18.4M0.5%−182
Northern Trust Corp878,156$15.7M0.0%+84,182
Warberg Asset Management LLC859,839$15.3M15.4%New
Point72 Asset Management, L.P.855,637$15.3M0.0%+399,768
Weiss Asset Management LP798,255$14.2M0.2%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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