NextNav Inc. Common Stock (NN)

FairStock Score: 15/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a business with durable earnings and a margin of safety. NextNav, based only on the filed numbers, fails that test today. It sells PNT solutions such as Pinnacle for altitude and enhanced 911, and TerraPoiNT as a land-based GPS backup, but revenue is microscopic: fiscal 2025 revenue was $4.6M, down from $5.7M in fiscal 2024 and $3.9M in fiscal 2023. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $1.1M and net income was -$33.8M, or -$0.24 per diluted share. Fiscal 2025 net loss was -$189.3M, or -$1.42 per share. That is not compounding; it is cash consumption. FairStock's trailing free cash flow is -$53.6M, a -2.8% FCF yield, and its calculated ROE is -77.87%. Debt/equity of 0.04 and Altman Z-Score of 17.79 are reassuring, but they do not create earning power. The Lynch screen gives no category because the company has lost money in each of the last four years. Meanwhile, at the 2026-10-13 close of $11.31 and a $1.9B market cap, FairStock's P/B is 5.66, P/E is -13.79, and EV/EBITDA is 522.87. Valuation rests on hope, not demonstrated results. Customers like Verizon and public safety agencies may prove strategic, but I see no moat in the numbers yet. Growth is negative, losses are heavy, and price offers no margin of safety.

In plain English: NextNav sells location and timing technology that helps emergency services and acts as a backup to GPS. The business looks weak today: its sales are very small, it loses money every year, and its losses are large. At $11.31 on 2026-10-13, the price looks expensive compared with its tiny sales and lack of profits.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer