NextNav Inc. today reported its financial results for the second quarter ended June 30, 2025. The company posted revenue of $1.2 million, an 8.8% increase from $1.1 million in the prior year period. For the six months ended June 30, 2025, total revenue was $2.7 million, up 27.4% from $2.2 million in the same period of 2024.
Despite revenue growth, NextNav reported a net loss of $63.2 million for Q2 2025, significantly higher than the $24.4 million loss in Q2 2024. This increase was primarily driven by non-cash charges, including a $39.5 million loss related to changes in the fair value of derivative liabilities and warrants, and a $14.4 million debt extinguishment loss in the first half of 2025. Operating expenses for Q2 2025 increased to $18.4 million, up approximately $2.0 million year-over-year.
As of June 30, 2025, NextNav maintained a robust liquidity position with $176.1 million in cash, cash equivalents, and marketable securities. This was significantly bolstered by a $190 million convertible notes financing completed in March 2025. On the regulatory front, the company received FCC consent in June 2025 to acquire an additional 128 M-LMS licenses, including a crucial waiver of an FCC rule, signaling continued momentum for its spectrum strategy.
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