Overview

* NextNav ( NN ) Q2 revenue rises slightly but misses analyst expectations

* Operating loss widens to $17.2 mln due to higher expenses

* Net loss increases to $63.2 mln, impacted by derivative liability changes

* FCC grants consent for Lower 900MHz licenses, enhancing spectrum position

Result Drivers

* SERVICE REVENUE - Increase in service revenue from technology and services contracts with government and commercial customers drove revenue growth

* EXPENSE INCREASES - Higher professional services, payroll-related expenses, and consulting costs contributed to wider operating loss

* FCC LICENSES - FCC's consent to assign Lower 900MHz licenses enhances NextNav's ( NN ) spectrum position

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $1.20 $1.59

Revenue mln mln (2

Analysts

)

Q2 Net -$63.20

Income mln

Q2 $18.44

Operatin mln

g

Expenses

Q2 -$17.24

Operatin mln

g Income

Q2 -$63.15

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the phones & handheld devices peer group is "buy"

* Wall Street's median 12-month price target for NextNav Inc ( NN ) is $20.00, about 22.5% above its August 5 closing price of $15.51

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)