$NN
NEXTNAV INC.

2022 Q4 Form 10-Q Financial Statement

#000121390022071182 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $803.0K $503.0K $276.0K
YoY Change 3915.0% 82.25% 37.31%
Cost Of Revenue $2.938M $2.830M $2.068M
YoY Change -56.29% 36.85% 65.18%
Gross Profit -$2.135M -$2.327M -$1.792M
YoY Change -68.14% 29.85% 70.5%
Gross Profit Margin -265.88% -462.62% -649.28%
Selling, General & Admin $7.052M $10.15M $2.856M
YoY Change 69.11% 255.46% 18.85%
% of Gross Profit
Research & Development $4.334M $4.567M $1.980M
YoY Change 68.57% 130.66% 0.51%
% of Gross Profit
Depreciation & Amortization $1.014M $891.0K $398.0K
YoY Change 42.22% 123.87% 1630.43%
% of Gross Profit
Operating Expenses $12.40M $18.44M $5.234M
YoY Change 66.35% 252.31% 19.04%
Operating Profit -$14.53M -$17.94M -$7.026M
YoY Change 2.68% 155.29% 28.96%
Interest Expense $456.0K $336.0K -$3.041M
YoY Change -105.1% -111.05% 14.37%
% of Operating Profit
Other Income/Expense, Net $1.508M -$152.0K -$22.34M
YoY Change -106.53% -99.32% -1813.42%
Pretax Income -$12.57M -$18.72M -$32.41M
YoY Change -72.78% -42.26% 376.41%
Income Tax -$69.00K $15.00K $12.00K
% Of Pretax Income
Net Earnings -$12.50M -$18.73M -$32.42M
YoY Change -72.94% -42.23% 375.74%
Net Earnings / Revenue -1556.91% -3723.66% -11747.1%
Basic Earnings Per Share -$0.18 -$4.41
Diluted Earnings Per Share -$0.12 -$184.7K -$339.6K
COMMON SHARES
Basic Shares Outstanding 106.4M shares 101.4M shares 7.352K shares
Diluted Shares Outstanding 101.4M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.45M $71.76M $1.641M
YoY Change -44.6% 4273.0% 5706.79%
Cash & Equivalents $47.23M $63.59M
Short-Term Investments $8.216M $8.173M
Other Short-Term Assets $3.576M $1.693M $8.417M
YoY Change -20.81% -79.89%
Inventory
Prepaid Expenses
Receivables $2.168M $1.442M
Other Receivables $0.00 $0.00
Total Short-Term Assets $61.19M $74.90M $10.06M
YoY Change -42.45% 644.64% 35490.94%
LONG-TERM ASSETS
Property, Plant & Equipment $19.18M $32.92M $22.54M
YoY Change -13.8% 46.01%
Goodwill $17.49M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.811M $1.915M $3.472M
YoY Change -56.31% -44.84% 1792.72%
Total Long-Term Assets $62.60M $38.98M $30.12M
YoY Change 105.3% 29.41% 16320.63%
TOTAL ASSETS
Total Short-Term Assets $61.19M $74.90M $10.06M
Total Long-Term Assets $62.60M $38.98M $30.12M
Total Assets $123.8M $113.9M $40.18M
YoY Change -9.53% 183.41% 18879.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.019M $1.516M $1.793M
YoY Change 127.46% -15.45%
Accrued Expenses $7.773M $7.449M $5.019M
YoY Change 68.98% 48.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.887M $9.009M $6.812M
YoY Change 33.04% 32.25% 3512.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $82.19M
YoY Change -100.0%
Other Long-Term Liabilities $11.04M $1.133M $169.2M
YoY Change 741.88% -99.33%
Total Long-Term Liabilities $11.04M $1.133M $251.4M
YoY Change 741.88% -99.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.887M $9.009M $6.812M
Total Long-Term Liabilities $11.04M $1.133M $251.4M
Total Liabilities $19.92M $21.44M $258.2M
YoY Change -45.96% -91.7% 136802.11%
SHAREHOLDERS EQUITY
Retained Earnings -$688.5M -$676.0M
YoY Change 6.27%
Common Stock $12.00K $768.6M $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.000K $4.000K
YoY Change
Treasury Stock Shares 1.177K shares 1.177K shares
Shareholders Equity $100.0M $92.44M -$218.0M
YoY Change
Total Liabilities & Shareholders Equity $123.8M $113.9M
YoY Change -9.53%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$12.50M -$18.73M -$32.42M
YoY Change -72.94% -42.23% 375.74%
Depreciation, Depletion And Amortization $1.014M $891.0K $398.0K
YoY Change 42.22% 123.87% 1630.43%
Cash From Operating Activities -$11.91M -$8.411M -$7.770M
YoY Change -35.63% 8.25% 93.52%
INVESTING ACTIVITIES
Capital Expenditures $1.578M -$1.214M -$136.0K
YoY Change -792.11% 792.65% -96.63%
Acquisitions
YoY Change
Other Investing Activities -$2.861M -$9.298M
YoY Change
Cash From Investing Activities -$4.439M -$10.51M -$136.0K
YoY Change 1846.93% 7629.41% -96.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.000K -3.000K 1.822M
YoY Change -100.0% -100.16% -56.34%
NET CHANGE
Cash From Operating Activities -11.91M -8.411M -7.770M
Cash From Investing Activities -4.439M -10.51M -136.0K
Cash From Financing Activities -1.000K -3.000K 1.822M
Net Change In Cash -16.35M -18.93M -6.084M
YoY Change -116.61% 211.08% 56.76%
FREE CASH FLOW
Cash From Operating Activities -$11.91M -$8.411M -$7.770M
Capital Expenditures $1.578M -$1.214M -$136.0K
Free Cash Flow -$13.49M -$7.197M -$7.634M
YoY Change -26.19% -5.72% -31908.33%

Facts In Submission

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CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-19000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-601425000 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 Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7195000 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 Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6763000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
827000 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 Stockholders Equity
StockholdersEquity
104541000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6635000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-18730000 usd
CY2022Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2000 usd
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
92441000 usd
us-gaap Net Income Loss
NetIncomeLoss
-98465000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1069000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
20593000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1033000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-23188000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
61184000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-175000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-92000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1424000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
401000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-25185000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29429000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
41000 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
56000 usd
nn Issuance Of Warrants For Rent Expense
IssuanceOfWarrantsForRentExpense
usd
nn Issuance Of Warrants For Rent Expense
IssuanceOfWarrantsForRentExpense
66000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
5504000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
671000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
usd
us-gaap Paid In Kind Interest
PaidInKindInterest
4231000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-298000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1996000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
4074000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-68000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3276000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1068000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1148000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1588000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1720000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
857000 usd
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
279000 usd
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
197000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1125000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
8173000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11297000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1054000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
18467000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
48000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
44000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18469000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-50000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-14000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-36488000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12028000 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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63588000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1641000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
427000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
112000 usd
us-gaap Stock Issued1
StockIssued1
usd
us-gaap Stock Issued1
StockIssued1
5504000 usd
CY2022Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
usd
CY2021Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin: 0px; text-indent: 0px;"><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>
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
503000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
276000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3123000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
743000 usd
us-gaap Accounts Receivable Sale
AccountsReceivableSale
1400000 usd
CY2021 us-gaap Accounts Receivable Sale
AccountsReceivableSale
1700000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
44000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1600 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6635000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
345000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20593000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1033000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-18730000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-32421000 usd
us-gaap Net Income Loss
NetIncomeLoss
-27614000 usd
us-gaap Net Income Loss
NetIncomeLoss
-98465000 usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
13831000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-18730000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-32421000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-27614000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-112296000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101397 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7352 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98513 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7348 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1540000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1400000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
637000 usd
CY2022Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4694000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2437000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2423000 usd
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
857000 usd
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4600000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046 pure
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1023000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
3075000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
26000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
77000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
57000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
171000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
969000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2914000 usd
CY2022Q3 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
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
881000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2765000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1894000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1441000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1205000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
997000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9183000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
822000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
8361000 usd
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2300000 usd
CY2022Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
3335000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2400000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1548000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
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
us-gaap Stockholders Equity Other Shares
StockholdersEquityOtherShares
702334 shares
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
200000 usd
CY2022Q3 us-gaap Other Long Term Investments
OtherLongTermInvestments
1000000 usd
CY2022Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
5687000 usd
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
28875000 usd
CY2022Q3 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
CY2022Q3 nn Warrants Issued
WarrantsIssued
8750000 shares
CY2022Q3 nn Warrants To Purchase
WarrantsToPurchase
1 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.5
CY2022Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
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.
CY2022Q3 us-gaap Share Price
SharePrice
2.69
CY2021Q4 us-gaap Share Price
SharePrice
8.76
CY2022Q3 nn Strike Price
StrikePrice
11.5
CY2021Q4 nn Strike Price
StrikePrice
11.5
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y29D
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
0.725 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
0.0416 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
0.65
CY2021 nn Fair Value Of Warrants In Dollars
FairValueOfWarrantsInDollars
3.3
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
-23188000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
5687000 usd
CY2022Q3 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
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101394335 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101393158 shares
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
CY2022Q3 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
-20000.00 usd
CY2022Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-18700000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0008 pure
CY2021Q3 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
10000.00 usd
CY2021Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
32400000 usd
CY2021Q3 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
40000.00 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-27600000 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0015 pure
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
40000.00 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-98400000 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0004 pure

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nn-20220930_pre.xml Edgar Link unprocessable
0001213900-22-071182-index-headers.html Edgar Link pending
0001213900-22-071182-index.html Edgar Link pending
0001213900-22-071182.txt Edgar Link pending
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ex311_1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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nn-20220930.htm Edgar Link pending
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nn-20220930_htm.xml Edgar Link completed
nn-20220930_lab.xml Edgar Link unprocessable