$NN
NEXTNAV INC.

2022 Q3 Form 10-Q Financial Statement

#000121390022046332 Filed on August 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $503.0K $1.421M $1.199M
YoY Change 82.25% 557.87% 377.69%
Cost Of Revenue $2.830M $3.001M $3.037M
YoY Change 36.85% -68.74% -58.95%
Gross Profit -$2.327M -$1.580M -$1.838M
YoY Change 29.85% -82.7% -74.28%
Gross Profit Margin -462.62% -111.19% -153.29%
Selling, General & Admin $10.15M $10.38M $9.340M
YoY Change 255.46% 173.79% 241.25%
% of Gross Profit
Research & Development $4.567M $4.170M $3.988M
YoY Change 130.66% 64.76% 67.35%
% of Gross Profit
Depreciation & Amortization $891.0K $884.0K $882.0K
YoY Change 123.87% 169.51% 157.14%
% of Gross Profit
Operating Expenses $18.44M $18.44M $14.21M
YoY Change 252.31% 108.26% 160.11%
Operating Profit -$17.94M -$17.02M -$16.05M
YoY Change 155.29% 97.01% 27.26%
Interest Expense $336.0K $109.0K
YoY Change -111.05% -101.86%
% of Operating Profit
Other Income/Expense, Net -$152.0K -$37.00K $6.371M
YoY Change -99.32% -43.94% -154.63%
Pretax Income -$18.72M $819.0K -$9.677M
YoY Change -42.26% -102.1% -64.23%
Income Tax $15.00K -$8.000K $34.00K
% Of Pretax Income -0.98%
Net Earnings -$18.73M $827.0K -$9.711M
YoY Change -42.23% -102.12% -64.12%
Net Earnings / Revenue -3723.66% 58.2% -809.92%
Basic Earnings Per Share -$0.18 $0.01 -$0.10
Diluted Earnings Per Share -$184.7K $0.01 -$96.27K
COMMON SHARES
Basic Shares Outstanding 101.4M shares 101.1K shares 100.9K shares
Diluted Shares Outstanding 101.4M shares 102.4K shares 100.9K shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.76M $82.52M $93.78M
YoY Change 4273.0% 966.31% 30151.94%
Cash & Equivalents $63.59M $82.52M $93.78M
Short-Term Investments $8.173M
Other Short-Term Assets $1.693M $2.031M $2.907M
YoY Change -79.89% -79.08% 428.55%
Inventory
Prepaid Expenses
Receivables $1.442M $971.0K $37.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $74.90M $85.52M $96.73M
YoY Change 644.64% 390.19% 11147.09%
LONG-TERM ASSETS
Property, Plant & Equipment $32.92M $33.35M $34.32M
YoY Change 46.01% 45.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.915M $976.0K $1.040M
YoY Change -44.84% 537.91% -99.49%
Total Long-Term Assets $38.98M $38.43M $39.41M
YoY Change 29.41% 41.86% -80.59%
TOTAL ASSETS
Total Short-Term Assets $74.90M $85.52M $96.73M
Total Long-Term Assets $38.98M $38.43M $39.41M
Total Assets $113.9M $123.9M $136.1M
YoY Change 183.41% 178.32% -33.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.516M $437.0K $1.138M
YoY Change -15.45% -78.86% 164.65%
Accrued Expenses $7.449M $7.224M $7.503M
YoY Change 48.42% 33.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.009M $7.671M $9.110M
YoY Change 32.25% 2.76% 2018.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $1.133M $1.115M $30.09M
YoY Change -99.33% -99.24% 27.77%
Total Long-Term Liabilities $1.133M $1.115M $30.09M
YoY Change -99.55% -99.5% 27.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.009M $7.671M $9.110M
Total Long-Term Liabilities $1.133M $1.115M $30.09M
Total Liabilities $21.44M $19.41M $39.20M
YoY Change -91.7% -91.58% 63.47%
SHAREHOLDERS EQUITY
Retained Earnings -$676.0M -$657.3M
YoY Change
Common Stock $768.6M $761.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.000K $1.000K
YoY Change
Treasury Stock Shares 1.177K shares 173.0 shares
Shareholders Equity $92.44M $104.5M $96.94M
YoY Change
Total Liabilities & Shareholders Equity $113.9M $123.9M $136.1M
YoY Change 178.32% -33.24%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$18.73M $827.0K -$9.711M
YoY Change -42.23% -102.12% -64.12%
Depreciation, Depletion And Amortization $891.0K $884.0K $882.0K
YoY Change 123.87% 169.51% 157.14%
Cash From Operating Activities -$8.411M -$10.68M -$6.097M
YoY Change 8.25% -19.14% -27.88%
INVESTING ACTIVITIES
Capital Expenditures -$1.214M -$577.0K -$208.0K
YoY Change 792.65% 8142.86% -77.17%
Acquisitions
YoY Change
Other Investing Activities -$9.298M
YoY Change
Cash From Investing Activities -$10.51M -$577.0K -$208.0K
YoY Change 7629.41% 8142.86% -77.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.000K 22.00K 25.00K
YoY Change -100.16% -99.74% -99.69%
NET CHANGE
Cash From Operating Activities -8.411M -10.68M -6.097M
Cash From Investing Activities -10.51M -577.0K -208.0K
Cash From Financing Activities -3.000K 22.00K 25.00K
Net Change In Cash -18.93M -11.23M -6.280M
YoY Change 211.08% 142.49% 383.82%
FREE CASH FLOW
Cash From Operating Activities -$8.411M -$10.68M -$6.097M
Capital Expenditures -$1.214M -$577.0K -$208.0K
Free Cash Flow -$7.197M -$10.10M -$5.889M
YoY Change -5.72% -23.47% -21.93%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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EntityAddressAddressLine1
1775 Tysons Blvd.
dei Entity Address Address Line2
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5th Floor
dei Entity Address City Or Town
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dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Security12b Title
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dei Entity Address State Or Province
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NextNav Inc.
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CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-38975000 usd
CY2021Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-569332000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
99957000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
26000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7195000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9711000 usd
CY2022Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-13000 usd
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
96938000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
22000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6763000 usd
CY2022Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-9000 usd
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
104541000 usd
us-gaap Net Income Loss
NetIncomeLoss
-8884000 usd
us-gaap Net Income Loss
NetIncomeLoss
-66043000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1766000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
671000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
13958000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
688000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-24150000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
38841000 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
64000 usd
nn Issuance Of Warrants For Rent Expense
IssuanceOfWarrantsForRentExpense
usd
nn Issuance Of Warrants For Rent Expense
IssuanceOfWarrantsForRentExpense
5504000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
26000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
28000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
461000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
usd
us-gaap Paid In Kind Interest
PaidInKindInterest
2605000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-769000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1647000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
5384000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-56000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-11000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1420000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1622000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-514000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
268000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16774000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21659000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
634000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
889000 usd
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
29000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-785000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-918000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
16647000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
48000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16647000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-42000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17554000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5930000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
100076000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13669000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82522000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7739000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
501000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
usd
us-gaap Stock Issued1
StockIssued1
usd
us-gaap Stock Issued1
StockIssued1
5504000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin: 0pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Use of Estimates</span></p> <p style="margin: 0pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p> <p style="margin: 0pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period and accompanying notes. These estimates include those related to the useful lives and recoverability of long-lived and intangible assets, valuation of common stock warrants, income taxes and equity-based compensation, among others. NextNav bases estimates on historical experience, anticipated results and various other assumptions, including assumptions of future events, it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets, liabilities, equity, revenue and expenses, that are not readily apparent from other sources. Actual results and outcomes could differ materially from these estimates and assumptions.</span></p>
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
637000 usd
CY2022Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4254000 usd
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4600000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1421000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2620000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
467000 usd
us-gaap Accounts Receivable Sale
AccountsReceivableSale
1000 usd
CY2021 us-gaap Accounts Receivable Sale
AccountsReceivableSale
1700000 usd
CY2022Q2 nn Contract Liabilities
ContractLiabilities
10000000 usd
CY2021Q4 nn Contract Liabilities
ContractLiabilities
1600000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2400000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1548000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1109000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1581000 usd
CY2021 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
13600000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6763000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
325000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13958000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
688000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
827000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-38975000 usd
us-gaap Net Income Loss
NetIncomeLoss
-8884000 usd
us-gaap Net Income Loss
NetIncomeLoss
-66043000 usd
CY2022Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
usd
CY2021Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
5643000 usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
13831000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
827000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8884000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-79874000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101071 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7346 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99886 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7346 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102381 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7346 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99886 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7346 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.87
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4725000 usd
CY2022Q2 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
600000000 shares
nn Common Stock Description
CommonStockDescription
(a) 500,000,000 shares of common stock and (b) 100,000,000 shares of undesignated preferred stock
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101386973 shares
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2086000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2423000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
283000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1540000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1885000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
945000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2052000 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
25000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
51000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
57000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
114000 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
970000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1945000 usd
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9459000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045 pure
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1737000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2715000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1842000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1396000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1166000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
844000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9700000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
833000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8867000 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2300000 usd
CY2022Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3335000 usd
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101386800 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
18749990 shares
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
9999990 shares
CY2022Q2 nn Warrants Issued
WarrantsIssued
8750000 shares
CY2022Q2 nn Warrants To Purchase
WarrantsToPurchase
1 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.5
nn Warrants Expire Years
WarrantsExpireYears
P5Y
nn Description Of Warrants
DescriptionOfWarrants
the right to redeem the outstanding Public Warrants in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days’ prior written notice of redemption, if and only if the last sales price of the Company’s common stock matched or exceeded $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which NextNav sends the notice of redemption to the warrant holders.
CY2022Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
4725000 usd
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
28875000 usd
CY2022Q2 us-gaap Share Price
SharePrice
2.27
CY2021Q4 us-gaap Share Price
SharePrice
8.76
CY2022Q2 nn Strikeprice
Strikeprice
11.5
CY2021Q4 nn Strikeprice
Strikeprice
11.5
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3M29D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.72 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.529 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.03 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0123 pure
nn Fair Value Of Warrants In Dollars
FairValueOfWarrantsInDollars
0.54
CY2021 nn Fair Value Of Warrants In Dollars
FairValueOfWarrantsInDollars
3.3
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-66000000 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0004 pure
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
28875000 usd
nn Fair Value Adjustment Of Private Placement Warrants
FairValueAdjustmentOfPrivatePlacementWarrants
-24150000 usd
us-gaap Preferred Units Description
PreferredUnitsDescription
The conversion ratio was subject to certain adjustments as defined in Holdings’ operating agreement. Preferred Units would automatically convert into Class A Common Units upon (i) in the case of the Class D Redeemable Preferred Units, the affirmative election of the holders of 66 2/3% of the outstanding Class D Redeemable Preferred Units or (ii) in the case of the Class C Redeemable Preferred Units, the affirmative election of the holders of 66 2/3% of the outstanding Class C Redeemable Preferred Units or (iii) a Public Offering (as defined in Holdings’ operating agreement) where gross proceeds were at least $75 million.
us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
In addition, certain actions required the affirmative approval of 66 2/3% of Class C Redeemable Preferred Units and Class D Redeemable Preferred Units (each voting as a separate class), including liquidation or dissolution of Holdings, creation of a senior class of units, payment of preferred return, increasing the authorized number of Common or Preferred Units, or amendment of Holdings’ operating agreement.
us-gaap Debt Instrument Redemption Description
DebtInstrumentRedemptionDescription
The Class D Redeemable Preferred Units were redeemable by Holdings, at the request of the holders of 66 2/3% of the then-outstanding Class D Redeemable Preferred Unit holders, over a three-year period commencing on or after the later of September 1, 2021 and the date that was 91 days after the earlier of December 27, 2026 and the date upon which Holdings’ obligations under the senior secured loan facility (the “Financing Agreement”), which Holdings entered into in December 2019 and amended in June 2021 with Fortress Credit Corporation, were satisfied in full, provided that in either case neither a qualified offering or a capital transaction had occurred prior to such request, at a per unit price of $2.13 for units issued in 2012, $2.56 for units issued in 2014, $2.89 for units issued in September 2016, and $5.78 and $11.56 for units issued in December 2019, plus any accrued and unpaid preferred return, whether or not declared
CY2022Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
10000.00 usd
CY2022Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
800000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0098 pure
CY2021Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
-10000.00 usd
CY2021Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
39000000 usd
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0003 pure
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
30000.00 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-8900000 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0029 pure
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
-30000.00 usd

Files In Submission

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0001213900-22-046332-index-headers.html Edgar Link pending
0001213900-22-046332-index.html Edgar Link pending
0001213900-22-046332.txt Edgar Link pending
0001213900-22-046332-xbrl.zip Edgar Link pending
ex311_1.htm Edgar Link pending
ex312_2.htm Edgar Link pending
ex321_3.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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