NEXTNAV INC.
NN, NNAVW, NXNVW · Search, Detection, Navigation, Guidance, Aeronautical Sys · 136.4M shares · +73%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$14M (gross $4K, SBC $14M)
Reference price $19.36 · est. market cap ~$2.6B — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Geolocation/positioning-technology company with operating losses and cash burn, cash-rich.
Strengths
- Cash-rich — current ratio 12.7 (100th)
Risks
- Operating/net losses — operating margin -15%, net margin -41%
- Revenue decline, cash burn — -19%, FCF -$51M
- Spectrum-monetization execution risk — per 10-K
Notable findings
- Chronic dilutionShare count +73%/yr over 3y (dilution, book value/share -117%)
- Cash burnNegative free cash flow (-50.8M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Negative equityNegative book equity (debt/equity -3.17)
- Net lossNet loss (net margin -4138.5%)
- Strong balance sheetStrong balance sheet — $152M cash & investments, ~12 quarters of runway
- Insider sellingInsider selling — 18 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$3M, last 6mo) Form 4 ↗
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-1535.8%
Net margin
-4138.5%
Return on equity
219.5%
Return on assets
-76.6%
ROIC
-29.6%
Revenue growth (QoQ)
5.3%
Debt / equity
-3.2×
Current ratio
12.7×
Free cash flow
-$51M
EBITDA
-$62M
Tangible book value
-$148M
Cash & investments
$152M
Cash runway
12q
Stock comp / revenue
363.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | SUBIN NEIL S | Option exercise | 250K | $11.50 |
| 2026-06-22 | SUBIN NEIL S | Conversion | 503K | — |
| 2026-06-17 | Foundation Holdco LP | Conversion | 4.0M | $12.56 |
| 2026-06-17 | FIG Buyer GP, LLC | Conversion | 4.0M | $12.56 |
| 2026-06-16 | Insley Susan Brasse | Sell | 849 | $19.36 |
| 2026-06-16 | Sorond Mariam | Sell | 2.8K | $18.33 |
| 2026-06-12 | Black James S | Sell | 1.9K | $22.96 |
| 2026-06-01 | Sorond Mariam | Sell | 68K | $19.89 |
| 2026-06-01 | Sorond Mariam | Sell | 2.3K | $20.89 |
| 2026-05-21 | MARCUS JONATHAN ANTHONY | Grant | 7.5K | — |
| 2026-05-21 | CARANO BANDEL L | Grant | 7.5K | — |
| 2026-05-21 | Hook Lisa | Grant | 7.5K | — |
| 2026-05-21 | Howe Alan B | Grant | 7.5K | — |
| 2026-05-21 | Howard Hugh Wyman III | Grant | 7.5K | — |
| 2026-05-21 | Palmer Nicola | Grant | 7.5K | — |
| 2026-05-21 | MULETA JOHN B | Grant | 7.5K | — |
| 2026-05-21 | Selby Lorin | Grant | 7.5K | — |
| 2026-05-21 | SUBIN NEIL S | Grant | 7.5K | — |
| 2026-03-26 | Shams Sammaad | Sell | 3.9K | $19.54 |
| 2026-03-24 | Insley Susan Brasse | Sell | 2.4K | $18.57 |
| 2026-03-20 | Gray Timothy | Sell | 1.4K | $18.11 |
| 2026-03-20 | Shams Sammaad | Sell | 1.8K | $18.11 |
| 2026-03-20 | Black James S | Sell | 6.7K | $17.91 |
| 2026-03-20 | Black James S | Sell | 2.8K | $18.11 |
| 2026-03-20 | Insley Susan Brasse | Sell | 3.6K | $18.11 |
| 2026-03-19 | Shams Sammaad | Grant | 5.7K | — |
| 2026-03-19 | Black James S | Grant | 8.9K | — |
| 2026-03-19 | Black James S | Grant | 27K | — |
| 2026-03-19 | Insley Susan Brasse | Grant | 9.7K | — |
| 2026-03-19 | Insley Susan Brasse | Grant | 41K | — |
| 2026-03-19 | Shams Sammaad | Sell | 115 | $17.80 |
| 2026-03-19 | Gray Timothy | Grant | 3.4K | — |
| 2026-03-19 | Gray Timothy | Grant | 41K | — |
| 2026-03-19 | Sorond Mariam | Grant | 55K | — |
| 2026-03-19 | Shams Sammaad | Grant | 10K | — |
| 2026-03-17 | Sorond Mariam | Sell | 11K | $16.85 |
| 2026-03-17 | Shams Sammaad | Sell | 3.3K | $16.86 |
| 2026-03-17 | Insley Susan Brasse | Sell | 3.4K | $16.85 |
| 2026-03-03 | Sorond Mariam | Sell | 45K | $17.12 |
| 2026-03-03 | Sorond Mariam | Sell | 25K | $16.53 |
| 2026-02-24 | Hook Lisa | Grant | 4.5K | — |
| 2025-12-24 | Insley Susan Brasse | Sell | 2.4K | $17.06 |
| 2025-12-19 | Shams Sammaad | Sell | 115 | $16.91 |
| 2025-12-16 | Shams Sammaad | Sell | 1.6K | $16.24 |
| 2025-12-02 | Sorond Mariam | Sell | 70K | $13.82 |
| 2025-11-21 | SAMBERG JOSEPH D | Buy | 58K | $11.86 |
| 2025-11-18 | Insley Susan Brasse | Sell | 12K | $12.78 |
| 2025-11-13 | SAMBERG JOSEPH D | Sell | 60K | $12.35 |
| 2025-11-13 | SAMBERG JOSEPH D | Sell | 540K | $12.35 |
| 2025-09-22 | Gray Timothy | Grant | 89K | — |
| 2025-09-19 | Shams Sammaad | Sell | 102 | $17.34 |
| 2025-09-16 | Gates Christian D. | Sell | 6.4K | $17.10 |
| 2025-09-16 | Shams Sammaad | Sell | 1.4K | $17.13 |
| 2025-09-02 | Sorond Mariam | Sell | 69K | $17.60 |
| 2025-09-02 | Sorond Mariam | Sell | 1.2K | $18.04 |
| 2025-08-11 | Gates Christian D. | Sell | 1.3K | $13.74 |
| 2025-08-11 | Shams Sammaad | Sell | 688 | $13.74 |
| 2025-06-30 | Selby Lorin | Grant | 13K | — |
| 2025-06-30 | SUBIN NEIL S | Grant | 13K | — |
| 2025-06-30 | Palmer Nicola | Grant | 13K | — |
| 2025-06-30 | MULETA JOHN B | Grant | 13K | — |
| 2025-06-30 | MULETA JOHN B | Grant | 15K | — |
| 2025-06-30 | MARCUS JONATHAN ANTHONY | Grant | 13K | — |
| 2025-06-30 | Howe Alan B | Grant | 13K | — |
| 2025-06-30 | Howard Hugh Wyman III | Grant | 13K | — |
| 2025-06-30 | CARANO BANDEL L | Grant | 13K | — |
| 2025-06-20 | Shams Sammaad | Sell | 102 | $14.61 |
| 2025-06-20 | Sorond Mariam | Sell | 70K | $14.38 |
| 2025-06-17 | Gates Christian D. | Sell | 6.4K | $13.96 |
| 2025-06-17 | Shams Sammaad | Sell | 1.4K | $13.96 |
| 2025-05-12 | Gates Christian D. | Sell | 1.1K | $12.75 |
| 2025-05-12 | Gates Christian D. | Sell | 183 | $13.79 |
| 2025-03-19 | Shams Sammaad | Sell | 102 | $11.63 |
| 2025-03-18 | Shams Sammaad | Sell | 3.6K | $11.36 |
| 2025-03-18 | Gates Christian D. | Sell | 2.0K | $11.86 |
| 2025-03-18 | Gates Christian D. | Sell | 12K | $11.37 |
| 2025-03-18 | Shams Sammaad | Sell | 311 | $11.88 |
| 2025-03-18 | Shams Sammaad | Sell | 5.8K | $11.54 |
| 2025-03-17 | Shams Sammaad | Sell | 3.3K | $11.24 |
| 2025-03-17 | Gates Christian D. | Sell | 4.5K | $11.24 |
| 2025-03-17 | Gates Christian D. | Sell | 1.3K | $11.23 |
| 2025-03-17 | Sorond Mariam | Sell | 63K | $11.23 |
| 2025-03-17 | Insley Susan Brasse | Sell | 5.4K | $11.24 |
| 2025-03-17 | Shams Sammaad | Sell | 688 | $11.06 |
| 2025-03-14 | Gates Christian D. | Grant | 34K | — |
| 2025-03-14 | Gates Christian D. | Grant | 13K | — |
| 2025-03-14 | Sorond Mariam | Grant | 91K | — |
| 2025-03-14 | Shams Sammaad | Grant | 15K | — |
| 2025-03-14 | Shams Sammaad | Grant | 9.1K | — |
| 2025-03-14 | Insley Susan Brasse | Grant | 34K | — |
| 2025-03-14 | Insley Susan Brasse | Grant | 13K | — |
| 2025-03-11 | Black James S | Grant | 67K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-16 | 2026-06-15 | 0001554855-26-001339 ↗ |
| 8-K | 2026-05-27 | 2026-05-21 | 0001554855-26-001177 ↗ |
| 8-K | 2026-05-27 | 2026-05-27 | 0001554855-26-001172 ↗ |
| 10-Q | 2026-05-14 | 2026-03-31 | 0001554855-26-001046 ↗ |
| 8-K | 2026-05-14 | 2026-05-14 | 0001554855-26-001044 ↗ |
| 8-K | 2026-03-17 | 2026-03-17 | 0001554855-26-000326 ↗ |
| 10-K | 2026-03-17 | 2025-12-31 | 0001554855-26-000328 ↗ |
| 8-K | 2026-02-27 | 2026-02-24 | 0001554855-26-000146 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001554855-25-001954 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001554855-25-001955 ↗ |
| 8-K | 2025-10-15 | 2025-10-09 | 0001554855-25-001877 ↗ |
| 8-K/A | 2025-09-26 | 2025-09-19 | 0001554855-25-001803 ↗ |