NextNav (NN) 10-Q13 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Nov. 08, 2024
Entity Information [Line Items]
Entity Registrant Name	NextNav Inc.
Document Type	10-Q
Amendment Flag	false
Entity Central Index Key	0001865631
Document Period End Date	Sep. 30, 2024
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40985
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0854654
Entity Address, Address Line One	11911 Freedom Dr.
Entity Address, Address Line Two	Ste. 200
Entity Address, City or Town	Reston
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	800
Local Phone Number	775-0982
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	NN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		128,864,792

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 67,905	$ 81,878
Short term investments	18,865	3,954
Accounts receivable	2,235	2,332
Other current assets	15,393	3,056
Total current assets	104,398	91,220
Network under construction	1,678	1,676
Property and equipment, net of accumulated depreciation of $12,713 and $9,724 at September 30, 2024 and December 31, 2023, respectively	17,261	19,885
Operating lease right-of-use assets	18,640	19,267
Goodwill	18,185	17,977
Intangible assets	10,179	10,625
Other assets	1,331	1,508
Total assets	171,672	162,158
Current liabilities:
Accounts payable	918	391
Accrued expenses and other current liabilities	17,059	6,592
Operating lease current liabilities	2,542	2,523
Deferred revenue	303	297
Total current liabilities	20,822	9,803
Warrants	15,053	7,053
Operating lease noncurrent liabilities	15,377	15,145
Other long-term liabilities	1,875	1,614
Long term debt, net of debt issuance cost and discount	52,974	48,447
Total liabilities	106,101	82,062
Stockholders’ equity:
Common stock, authorized 500,000,000 shares; 127,677,549 and 111,261,434 shares issued and 127,545,321 and 111,132,222 shares outstanding at September 30, 2024 and December 31, 2023, respectively	14	12
Additional paid-in capital	893,584	837,416
Accumulated other comprehensive income	2,502	2,198
Accumulated deficit	(829,836)	(760,227)
Common stock in treasury, at cost; 132,228 and 129,212 shares at September 30, 2024 and December 31, 2023, respectively	(693)	(665)
Total stockholders’ equity	65,571	78,734
Non-controlling interests		1,362
Total liabilities and stockholders’ equity	$ 171,672	$ 162,158

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 12,713	$ 9,724
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	127,677,549	111,261,434
Common stock, shares outstanding	127,545,321	111,132,222
Common stock, in treasury	132,228	129,212

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Revenue	$ 1,607	$ 1,027	$ 3,758	$ 2,657
Operating expenses:
Cost of goods sold (exclusive of depreciation and amortization)	2,585	3,232	8,270	9,397
Research and development	3,545	5,007	12,325	14,579
Selling, general and administrative	8,016	6,152	24,570	18,722
Depreciation and amortization	1,313	1,256	3,926	3,559
Total operating expenses	15,459	15,647	49,091	46,257
Operating loss	(13,852)	(14,620)	(45,333)	(43,600)
Other income (expense):
Interest expense, net	(2,217)	(1,740)	(6,706)	(1,614)
Change in fair value of warrants	2,143	(6,737)	(19,523)	(9,800)
Other income (loss), net	343	(99)	2,091	(166)
Loss before income taxes	(13,583)	(23,196)	(69,471)	(55,180)
Provision for income taxes	26	24	138	159
Net loss	(13,609)	(23,220)	(69,609)	(55,339)
Foreign currency translation adjustment	1,005	(670)	304	(218)
Comprehensive loss	(12,604)	(23,890)	(69,305)	(55,557)
Net loss	(13,609)	(23,220)	(69,609)	(55,339)
Net loss attributable to common stockholders	$ (13,609)	$ (23,220)	$ (69,609)	$ (55,339)
Weighted average of shares outstanding – basic (in shares)	126,429	108,045	118,978	107,504
Weighted average of shares outstanding – diluted (in shares)	126,429	108,045	118,978	107,504
Net loss attributable to common stockholders per share - basic (in dollars per share)	$ (0.11)	$ (0.21)	$ (0.59)	$ (0.51)
Net loss attributable to common stockholders per share - diluted (in dollars per share)	$ (0.11)	$ (0.21)	$ (0.59)	$ (0.51)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Stockholders’ (Deficit) Equity	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Treasury stock, at cost	Non-controlling interest
Balance at Dec. 31, 2022	$ 103,864	$ 100,017	$ 12	$ 787,130	$ (688,492)	$ 1,371	$ (4)	$ 3,847
Balance (in Shares) at Dec. 31, 2022			106,417,265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs (in shares)			619,387
Issuance of RSAs (in shares)			27,744
Exercise of common stock options	25	25		25
Exercise of common stock options (in Shares)			91,258
Stock-based compensation expense	4,548	4,548		4,548
Net loss	(16,349)	(16,349)			(16,349)
Foreign currency translation adjustment	432	432				432
Balance at Mar. 31, 2023	92,520	88,673	$ 12	791,703	(704,841)	1,803	(4)	3,847
Balance (in Shares) at Mar. 31, 2023			107,155,654
Balance at Dec. 31, 2022	103,864	100,017	$ 12	787,130	(688,492)	1,371	(4)	3,847
Balance (in Shares) at Dec. 31, 2022			106,417,265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(55,339)
Foreign currency translation adjustment	(218)
Balance at Sep. 30, 2023	84,105	80,258	$ 12	822,928	(743,831)	1,153	(4)	3,847
Balance (in Shares) at Sep. 30, 2023			108,976,312
Balance at Mar. 31, 2023	92,520	88,673	$ 12	791,703	(704,841)	1,803	(4)	3,847
Balance (in Shares) at Mar. 31, 2023			107,155,654
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs (in shares)			605,975
Issuance of RSAs (in shares)			376,325
Exercise of common stock options	13	13		13
Exercise of common stock options (in Shares)			46,583
Stock-based compensation expense	3,697	3,697		3,697
Issuance of common warrants	14,598	14,598		14,598
Net loss	(15,770)	(15,770)			(15,770)
Foreign currency translation adjustment	20	20				20
Balance at Jun. 30, 2023	95,078	91,231	$ 12	810,011	(720,611)	1,823	(4)	3,847
Balance (in Shares) at Jun. 30, 2023			108,184,537
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs (in shares)			260,215
Issuance of RSAs (in shares)			24,500
Exercise of common stock options	28	28		28
Exercise of common stock options (in Shares)			98,829
Stock-based compensation expense	3,762	3,762		3,762
Exercise of common warrants	882	882		882
Exercise of common warrants (in shares)			408,231
Issuance of common warrants	8,245	8,245		8,245
Net loss	(23,220)	(23,220)			(23,220)
Foreign currency translation adjustment	(670)	(670)				(670)
Balance at Sep. 30, 2023	84,105	80,258	$ 12	822,928	(743,831)	1,153	(4)	3,847
Balance (in Shares) at Sep. 30, 2023			108,976,312
Balance at Dec. 31, 2023	80,096	78,734	$ 12	837,416	(760,227)	2,198	(665)	1,362
Balance (in Shares) at Dec. 31, 2023			111,132,222
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs (in shares)			1,226,498
Issuance of RSAs (in shares)			38,130
Exercise of common stock options	544	544		544
Exercise of common stock options (in Shares)			186,074
Reclassification of warrant liability to common stock warrants	2,468	2,468		2,468
Stock-based compensation expense	6,293	6,293		6,293
Net loss	(31,610)	(31,610)			(31,610)
Foreign currency translation adjustment	(522)	(522)				(522)
Balance at Mar. 31, 2024	57,269	55,907	$ 12	846,721	(791,837)	1,676	(665)	1,362
Balance (in Shares) at Mar. 31, 2024			112,582,924
Balance at Dec. 31, 2023	80,096	78,734	$ 12	837,416	(760,227)	2,198	(665)	1,362
Balance (in Shares) at Dec. 31, 2023			111,132,222
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(69,609)
Foreign currency translation adjustment	304
Balance at Sep. 30, 2024	65,571	65,571	$ 14	893,584	(829,836)	2,502	(693)
Balance (in Shares) at Sep. 30, 2024			127,545,321
Balance at Mar. 31, 2024	57,269	55,907	$ 12	846,721	(791,837)	1,676	(665)	1,362
Balance (in Shares) at Mar. 31, 2024			112,582,924
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs	1	1	$ 1
Vesting of RSUs (in shares)			294,589
Issuance of RSAs (in shares)			231,323
Exercise of common stock options	1,106	1,106		1,106
Exercise of common stock options (in Shares)			438,118
Reclassification of warrant liability to common stock warrants	4,308	4,308		4,308
Stock-based compensation expense	2,792	2,792		2,792
Exercise of common warrants	21,036	21,036	$ 1	21,035
Exercise of common warrants (in shares)			9,738,930
Interest payment through issuance of shares of common stock	1,867	1,867		1,867
Interest payment through issuance of shares of common stock (in Shares)			237,722
Redemption of NCI	67	1,429		1,429				(1,362)
Redemption of NCI (in Shares)			397,037
Shares of Common Stock received from settlement of employee receivables	(28)	(28)					(28)
Net loss	(24,390)	(24,390)			(24,390)
Foreign currency translation adjustment	(179)	(179)				(179)
Balance at Jun. 30, 2024	63,849	63,849	$ 14	879,258	(816,227)	1,497	(693)
Balance (in Shares) at Jun. 30, 2024			123,917,627
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares of Common Stock received from settlement of employee receivables (in Shares)			(3,016)
Vesting of RSUs (in shares)			243,481
Exercise of common stock options	232	232		232
Exercise of common stock options (in Shares)			207,977
Reclassification of warrant liability to common stock warrants	4,747	4,747		4,747
Stock-based compensation expense	2,487	2,487		2,487
Exercise of common warrants	6,860	6,860		6,860
Exercise of common warrants (in shares)			3,176,236
Redemption of NCI			$ (1,400)
Redemption of NCI (in Shares)			397,037
Net loss	(13,609)	(13,609)			(13,609)
Foreign currency translation adjustment	1,005	1,005				1,005
Balance at Sep. 30, 2024	$ 65,571	$ 65,571	$ 14	$ 893,584	$ (829,836)	$ 2,502	$ (693)
Balance (in Shares) at Sep. 30, 2024			127,545,321

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net loss	$ (69,609)	$ (55,339)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,926	3,559
Equity-based compensation	11,162	12,643
Change in fair value of warranty liability	19,523	9,800
Change in fair value of asset purchase agreement liability	(2,217)
Realized and unrealized gain on short term investments	(517)	(501)
Equity method investment loss	118	157
Asset retirement obligation accretion	51	51
Amortization of debt discount	4,526	1,771
Changes in operating assets and liabilities:
Accounts receivable	97	(569)
Other current assets	269	1,246
Other assets	60	84
Accounts payable	527	(102)
Deferred revenue	6	(23)
Accrued expenses and other liabilities	5,144	2,140
Operating lease right-of-use assets and liabilities	874	476
Net cash used in operating activities	(26,060)	(24,607)
Investing activities
Capitalization of costs and purchases of network assets, property, and equipment	(182)	(2,541)
Purchase of internal use software	(354)	(708)
Purchase of marketable securities	(44,894)	(33,494)
Sale and maturity of marketable securities	30,500	35,249
Payment for asset purchase agreement liability	(2,732)
Net cash used in investing activities	(17,662)	(1,494)
Financing activities
Proceeds from senior secured notes		70,000
Payments towards debt issuance cost		(1,861)
Payments towards debt	(82)	(82)
Proceeds from exercise of common warrants	27,896	882
Redemption of non-controlling interests	40
Proceeds from exercise of common stock options	1,882	66
Net cash provided by financing activities	29,736	69,005
Effect of exchange rates on cash and cash equivalents	13	(2)
Net (decrease) increase in cash and cash equivalents	(13,973)	42,902
Cash and cash equivalents at beginning of period	81,878	47,230
Cash and cash equivalents at end of period	67,905	90,132
Non-cash investing and financing information
Capital expenditure included in Accrued expenses and other current liabilities	159	120
Issuance of warrants		22,843
Interest paid in shares of Common Stock	$ 1,867

Organization and Business

Organization and Business	9 Months Ended
Organization and Business	Sep. 30, 2024
Organization and Business
Organization and Business	1 Principal Business N extNav Inc. and its consolidated subsidiaries (collectively “NextNav” or the “Company”) deliver next generation positioning, navigation and timing (“PNT”) solutions designed to enable a high-quality, terrestrial complement and backup to the U.S. Global Positioning System (“GPS”). NextNav’s solutions are built on a robust asset platform, including 8MHz of nearly nationwide wireless spectrum in the Lower 900MHz band, intellectual property and deployed network systems. The Company, subject to appropriate regulatory approvals, has signed an agreement to acquire licenses for an additional 4MHz of spectrum in the Lower 900MHz band. Additionally, on April 16, 2024, NextNav filed a petition for rulemaking with the Federal Communications Commission (“FCC”) to update the Lower 900MHz band plan to utilize a 15MHz nationwide configuration for both PNT and 5G broadband (the “Petition”). The Petition is subject to an ongoing FCC regulatory review process, which includes the FCC’s issuance of a Public Notice seeking comment concerning the Petition on August 24, 2024. The Company’s Pinnacle system provides “floor-level” altitude service to any device with a barometric pressure sensor, including most off-the-shelf smartphones. The Company’s TerraPoiNT and NextGen systems are designed to overcome the limitations inherent in the space-based systems through a network of wide area terrestrial location transmitters that broadcast a PNT signal over the Company’s licensed spectrum, with NextGen intended to utilize standards-based 5G broadband technologies. Since its inception, NextNav has incurred recurring losses and generated negative cash flows from operations and has primarily relied upon debt and equity financings to fund its cash requirements . During the nine months ended September 30, 2024 2023 69.6 million and $55.3 million, respectively. During the nine months ended September 30, 2024 2023 $ 26.1 million and $24.6 million, respectively. As of September 30, 2024 million. The Company’s primary use of cash is to fund operations as NextNav continues to grow. The Company expects to incur additional losses and higher operating expenses for the foreseeable future, specifically as NextNav invests in ongoing research and development and its PNT networks. Ma naging liquidity and the Company’s cash position is a priority of the Company. The Company continually works to optimize its expenses in light of the growth of its business and adapt to changes in the economic environment. The Company believes that its cash and cash equivalents and marketable securities as of September 30, 2024 12

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2 Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in these condensed consolidated financial statements. Unaudited Interim Financial Information The condensed consolidated financial statements as of September 30, 2024 are unaudited. These interim financial statements of NextNav have been prepared in accordance with U.S. General Accepted Accounting Principles (“GAAP”) and SEC instructions for interim ’ December 31, 2023 2023 March 13, 2024 The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and reflect, in management’s opinion, all adjustments of a normal, recurring nature that are necessary for the fair statement of the Company’s financial position as of September 30, 2024 three and nine September 30, 2024 2023 ’ nine September 30, 2024 2023 There have been no changes to the Company’s significant accounting policies described in the 2023 Use of Estimates 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. Cash and Cash Equivalents and Marketable Securities Cash and cash equivalents include all cash in banks and highly liquid investments with an original maturity of three The Company invests excess cash primarily in U.S. treasury bills, U.S. government and government agency bonds, and money market funds. The Company classifies all marketable securities that have stated maturities of three three September 30, 2024 of gains from fair value changes from FVO available-for-sale debt securities in interest expense, net in the Condensed Consolidated Statements of Comprehensive Loss. There were no debt securities classified as available-for-sale in 2023 Revenue The following table presents the Company’s revenue disaggregated by category and source: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Commercial $ 1,084 $ 945 $ 3,225 $ 2,565 Government contracts 523 5 533 15 Equipment sales — 77 — 77 Total revenue $ 1,607 $ 1,027 $ 3,758 $ 2,657 Contract Balances Accounts receivable are billed and unbilled amounts related to the Company’s rights to consideration as performance obligations are satisfied when the rights to payment become unconditional but for the passage of time. As of September 30, 2024 December 31, 2023 million and $ 2.3 million, respectively. The Company estimates losses on accounts receivable based on expected losses, including its historical experience of actual losses. Receivables are considered impaired and written-off when it is probable that all contractual payments due will not be collected in accordance with the terms of the agreement. As of September 30, 2024 and December 31, 2023 , all accounts receivable balances were current and no Contract liabilities relate to amounts billed in advance, or advance consideration received from customers, for which transfer of control of the good or service occurs at a later point in time. As of September 30, 2024 December 31, 2023 303 thousand and $ 297 thousand, respectively, and are recorded in deferred revenue in the Condensed Consolidated Balance Sheets. Equity-Based Compensation Measurement of equity-based compensation with employees is based on the estimated grant date fair value of the equity instruments issued. The fair value of stock options is determined using the Black-Scholes option pricing model. The fair value of restricted awards is based on the closing price of NextNav’s common stock on the date of grant. NextNav recognizes equity-based compensation on a straight-line basis over the requisite service period of the grant, which is generally equal to the vesting period. NextNav accounts for forfeitures as they occur. The following details the amount of stock-based compensation included in cost of goods sold, research and development, and selling, general and administrative expenses: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Cost of goods sold $ 90 $ 561 $ 273 $ 1,705 Research and development 1,032 1,843 3,672 5,201 Selling, general and administrative 2,144 2,003 7,217 5,737 Total stock-based compensation expense $ 3,266 $ 4,407 $ 11,162 $ 12,643 Basic and Diluted Net Loss per Share Basic loss per share (“EPS”) excludes dilution for common share equivalents and is computed by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding during each period, adjusted for the effect of dilutive common share equivalents. Restricted shares are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method. Outstanding options and warrants are included in the computation of diluted EPS, to the extent they are dilutive, determined using the treasury stock method. The determination of the diluted weighted average shares is included in the following calculation of EPS: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands, except per share amounts) (in thousands, except per share amounts) Numerator Net loss attributable to common stockholders $ (13,609 ) $ (23,220 ) $ (69,609 ) $ (55,339 ) Denominator Weighted average shares – basic and diluted 126,429 108,045 118,978 107,504 Basic and diluted loss per share $ (0.11 ) $ (0.21 ) $ (0.59 ) $ (0.51 ) The following details anti-dilutive unvested restricted stock units and unvested restricted stock awards, as well as the anti-dilutive effects of the outstanding warrants and stock options: Three Months Ended September 30, Nine Months Ended September 30, Antidilutive Shares Excluded 2024 2023 2024 2023 (in thousands) (in thousands) Warrants 31,353 44,268 31,353 44,268 Stock Options 4,199 3,667 4,199 3,667 Unvested Restricted Stock Units 5,159 3,500 5,159 3,500 Unvested Restricted Stock Awards 231 334 231 334 Equity Method Investment The Company applies the equity method of accounting to investments when it has significant influence, but not controlling interest, in the investee. Judgment regarding the level of influence over each equity method investment includes considering key factors such as ownership interest, representation on the board of directors, participation in policy-making decisions and material intercompany transactions. The initial carrying value of equity method investment is based on the amount paid to purchase the interest in the investee entity. Subsequently, the investment is increased or decreased by the Company’s proportionate share in the investee’s earnings or losses and decreased by cash distributions from the investee. The Company eliminates from its financial results all significant intercompany transactions to the extent of its ownership interest, including the intercompany portion of transactions with equity method investee. The Company’s share of the investee’s income or loss is recorded on a one The Company evaluates equity method investment for impairment based upon a comparison of the fair value of the equity method investment to its carrying value, when impairment indicators exist. If the Company determines a decline in the fair value of an equity method investment below its carrying value is other-than-temporary, an impairment is recorded. Leases NextNav leases office spaces under non-cancellable leases as well as site leases for towers and shelters under operating leases related to its network. Site leases are entered into throughout the United States under which NextNav receives the rights to install equipment used to transmit its services over its licensed spectrum. The Company, at the inception of the contract, determines whether a contract is or contains a lease based on assessment of the terms and conditions of the contract. The Company classifies leases with contractual terms longer than twelve twelve The Company’s leases may include options to extend or terminate the lease. The option to renew may be automatic, at the option of NextNav or mutually agreed to between the landlord and NextNav. Lease terms include the non-cancellable term and periods under options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company’s lease agreements generally contain lease and non-lease components. Payments under the lease arrangements are primarily fixed. Non-lease components primarily include payments for utilities and maintenance. The Company combines fixed payments for non-lease components with lease payments and accounts for them together as a single lease component which increases the amount of the Company’s lease assets and liabilities. Certain lease agreements contain variable payments, which are expensed as incurred and not included in the lease assets and liabilities. These amounts include payments for common area maintenance. Lease assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate, because the interest rate implicit in the Company’s leases is not readily determinable. The Company’s incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. Lease assets are reduced by landlord incentives, plus any direct costs from executing the leases or lease prepayments reclassified from “Other current assets” upon lease commencement. Operating lease expense is recognized on a straight-line basis over the lease term. Monthly rent expense includes any site related utility payments or other fees such as administrative or up-front fees contained in the lease agreements that are determinable upon execution of the lease agreement. Acquired finite-lived intangible assets 4 Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized but is tested for impairment annually in the fourth quarter or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company operates as one September 30, 2024 December 31, 2023 The following summarizes the Company's goodwill activities: Nine Months Ended September 30, 2024 2023 (in thousands) Beginning Balance $ 17,977 $ 17,493 Changes in foreign exchange rates 208 (159 ) Purchase price adjustment — (96 ) Ending Balance $ 18,185 $ 17,238 Acquisitions The Company accounts for its acquisitions using the acquisition method of accounting. The purchase price is attributed to the fair value of the assets acquired and liabilities assumed. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. The excess of the purchase price of acquisition over the fair value of the identifiable net assets of the acquiree is recorded as goodwill. The results of businesses acquired are included in the Company’s consolidated financial statements from the date of acquisition. When the Company issues stock-based or cash awards to an acquired company’s shareholders, the Company evaluates whether the awards are consideration or compensation for post-acquisition services. The evaluation includes, among other things, whether the vesting of the awards is contingent on the continued employment of the acquired company’s stockholders beyond the acquisition date. If continued employment is required for vesting, the awards are treated as compensation for post-acquisition services and recognized as expense over the requisite service period. Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenue and cash flows, discount rates, and selection of comparable companies. The estimates and assumptions used to determine the fair values and useful lives of identified intangible assets could change due to numerous factors, including market conditions, technological developments, economic conditions, and competition. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded as of the acquisition date. The Company continues to collect information and reevaluates these estimates and assumptions quarterly and records any adjustments to the Company’s preliminary estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the Company’s consolidated statement of operations. In connection with the determination of fair values, the Company may engage a third-party valuation specialist to assist with the valuation of intangible and certain tangible assets acquired and certain assumed obligations. Long term debt I n conjunction with the issuance of senior secured notes in May and July of 2023 Debt discounts are amortized to interest expense based on the related debt agreements primarily using the effective interest method. Non-controlling Interests The non-controlling interest in the Company’s condensed consolidated financial statements represents the warrants for Nestwave, SAS (as subsequently renamed, “NextNav France”) shares that were owned by the selling shareholders of NextNav France. Holders of the warrants do not have the right to income or obligation to losses, and the Company has not attributed any net loss to the non-controlling interests. During the three months ended June 30, 2024, 399,636 warrants, which represented all of the NextNav France shares that remained subject to warrants, were exercised and 397,037 1.4 . Foreign Currency Translation The functional currency of NextNav’s foreign subsidiaries is generally the local currency. Assets and liabilities are translated into U.S. dollars at the exchange rate in effect at the Condensed Consolidated Balance Sheet date. Operating accounts are translated at an average rate of exchange for the respective accounting periods. Translation adjustments resulting from the process of translating foreign currency financial statements into U.S. dollars are reported as a component of accumulated other comprehensive loss. Transaction gains and losses reflected in the functional currencies are charged to income or expense at the time of the transaction. Net transaction gains (losses) from foreign currency contracts recorded in the Condensed Consolidated Statements of Comprehensive Loss were immaterial for the three and nine September 30, 2024 2023 Recent Accounting Developments Not Yet Adopted During the fourth quarter of 2023 two 2023 07 280 “ 2023 07 ” 2023 09 740 “ 2023 09 ” ASU 2023 07 2023 09 currently evaluating the potential effect that the updated standards will have on the financial statement disclosures. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
Accrued Expenses and Other Current Liabilities	Sep. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	3 Accrued expenses and other current liabilities consisted of the following: September 30, 2024 December 31, 2023 (in thousands) Accrued salary and other employee liabilities $ 4,310 $ 3,913 Accrued legal and professional services 1,471 324 Accrued interest 2,333 583 Asset purchase agreement liability ( 1 ) 7,567 — Other 1,378 1,772 Total $ 17,059 $ 6,592 ( 1 Refer to Note 5 ’ September 30, 2024

Intangibles

Intangibles	9 Months Ended
Intangibles	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	4. Intangibles Intangible assets as of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Gross Amount Accumulated Amortization Net Carrying Value Gross Amount Accumulated Amortization Net Carrying Value Indefinite-Lived intangible assets $ 3,467 $ — $ 3,467 $ 3,467 $ — $ 3,467 Acquired Software 7,293 2,438 4,855 7,217 2,050 5,167 Acquired Technology 606 97 509 599 58 541 Internal Use Software 3,072 1,724 1,348 2,634 1,184 1,450 Total $ 14,438 $ 4,259 $ 10,179 $ 13,917 $ 3,292 $ 10,625 The weighted average remaining useful lives of acquired software and acquired technology were 10.1 years as of September 30, 2024 Amortization expense on intangibles assets was $0.3 million for each of the three months ended September 30, 2024 2023 . Amortization expense on intangibles assets was $0.9 million and $0.8 nine months ended September 30, 2024 2023 2024 $ 288 2025 1,127 2026 945 2027 731 2028 and thereafter 3,621 $ 6,712

Asset Purchase Agreement

Asset Purchase Agreement	9 Months Ended
Asset Purchase Agreement	Sep. 30, 2024
Asset Purchase Agreement
Asset Purchase Agreement	5 sset Purchase A On March 7, 2024 , the Company and its wholly-owned subsidiary Progeny LMS, LLC entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Telesaurus Holdings GB and Skybridge Spectrum Foundation to acquire ( 1 2 2017 The consideration for the Transaction is payable as follows: · $2.5 million in cash consideration within 30 days of the Alameda Court Approval; · $7.5 million in shares of NextNav common stock on the earlier of the FCC Approval or, if no action has been taken by the FCC, November 15, 2024 (payable regardless of whether Closing occurs) (“First Noncash Consideration”); and · $20.0 million in shares of NextNav common stock within 30 days of the assignment of the M-LMS Licenses at Closing following the FCC Approval. The Company subsequently received the Alameda Court Approval on March 28, 2024 and made the cash payment of $2.5 million in April 2024. The Company has recognized the cash consideration of $ 2.5 million within other current assets in the condensed consolidated balance sheet as of September 30, 2024 . Further, the Company recorded a current liability and prepaid asset of $ 9.8 million as of March 31, 2024 with respect to the fair value of shares expected to be issued (based on a 20 volume weighted average price) equivalent to the $ 7.5 million First Noncash Consideration, as the payment obligation is upon passage of time and is not contingent. During the three and nine months ended September 30, 2024 , the Company reduced the First Noncash Consideration liability by $ 0.3 million and $ 2.2 million, respectively, and recorded the gain in other income (expenses) in the condensed consolidated statement of comprehensive loss. The reduction was due to the fair value adjustment of shares expected to be issued, based on a 20 volume-weighted average price, equivalent to the $ 7.5 million First Noncash Consideration. The fair value of the shares expected to be issued was determined based on non-observable pricing inputs in the market and is categorized accordingly as Level 3 in the fair value hierarchy. The Company accrues a loss contingency liability related to the nonrefundable prepayments if it is probable that the Transaction will be terminated or cancelled. As of September 30, 2024 expects the Transaction to successfully complete, and no loss contingency liability was recorded. The Asset Purchase Agreement provides for contingent consideration in the amount of $20 million, payable in shares of NextNav common stock. Payment is contingent upon the FCC granting additional flexibility in the use of M-LMS spectrum.

Equity Method Investment

Equity Method Investment	9 Months Ended
Equity Method Investment	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investment	6. Equity Method Investment As of September 30, 2024 MetCom Inc kabushiki kaisha MetCom MetCom MetCom’s TerraPoiNT y’s MetCom’s MetCom MetCom investee The Company recognized a loss of $37 thousand and $71 thousand in the three months ended September 30, 2024 September 30, 2023 that is recorded in other income (expenses). the nine September 30, 2024 September 30, 2023 Company’s $586 September 30, 2024 December 31, 2023 he Company had $13 thousand and $107 September 30, 2024 December 31, 2023 The Company holds a warrant (the “MetCom Warrant”) issued by MetCom MetCom September 30, 2024

Fair Value

Fair Value	9 Months Ended
Fair Value	Sep. 30, 2024
Fair Value
Fair Value	7 NextNav uses observable and unobservable inputs to determine the value of its assets and liabilities recorded at fair value. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. The three - Level 1 - Level 2 - Level 3 Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. NextNav’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. NextNav effectuates transfers between levels of the fair value hierarchy, if any, as of the date of the actual circumstance that caused the transfer. The following table presents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total (in thousands) September 30, 2024 Cash and Cash Equivalents - Money Market Funds $ 283 $ — $ — $ 283 Cash and Cash Equivalents - Available-for-sale debt securities with fair value option election — 65,096 — 65,096 Short term investments - Available -for-sale debt securities with fair value option election — 18,865 — 18,865 Private Placement Warrants — — 15,053 15,053 Asset purchase agreement liability — — 7,567 7,567 December 31, 2023 Cash and Cash Equivalents - Money Market Funds $ 127 $ — $ — $ 127 Cash and Cash Equivalents - Trading debt securities — 79,425 — 79,425 Short term investments - Trading debt securities — 3,954 — 3,954 Private Placement Warrants $ — $ — $ 7,053 $ 7,053 The carrying values of cash and cash equivalents, accounts payable, accrued expenses, amounts included in other current assets, and current liabilities that meet the definition of a financial instrument, approximate fair value due to their short-term nature. Assets, liabilities, and equity instruments that are measured at fair value on a nonrecurring basis include fixed assets and intangible assets. The Company recognizes these items at fair value when they are considered to be impaired or upon initial recognition. The fair value of these assets and liabilities are determined with valuation techniques using the best information available and may include quoted market prices, market comparables and discounted cash flow models. Level 3 The Company engaged a third-party valuation firm to assist with the fair value analysis of the Private Placement Warrants (as defined below). The analysis used commonly accepted valuation methodologies and best practices to determine the fair value of the equity, in accordance with fair value standards and U.S. GAAP. For the Private Placement Warrants that were outstanding as of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Values Values Stock Price $ 7.49 $ 4.45 Strike price $ 11.50 $ 11.50 Holding Period/Term (years) 2.07 2.82 Volatility 108.00 % 66.90 % Expected dividends None None Risk-Free Rate 3.65 % 4.05 % Fair value of warrants $ 3.55 $ 0.91 The following table shows the assumption used in valuing the First Noncash Consideration of asset purchase agreement liability to be settled in shares, equivalent to $7.5 million: September 30, 2024 Values 20 $ 7.42 Stock price $ 7.49 The tables below provide a reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3 Warrants: (in thousands) Balance as of December 31, 2023 $ 7,053 Fair value adjustment of Private Placement Warrants 19,523 Reclassification of warrant liability to common stock warrants (11,523 ) Balance as of September 30, 2024 $ 15,053 Asset Purchase Agreement Liability: (in thousands) Balance as of December 31, 2023 $ — Initial recognition of asset purchase agreement liability 9,784 Fair value adjustment of asset purchase agreement liability (2,217 ) Balance as of September 30, 2024 $ 7,567

Long term debt, net

Long term debt, net	9 Months Ended
Long term debt, net	Sep. 30, 2024
Long term debt, net
Long term debt, net	8. Long term debt, net On May 9, 2023 (the “Initial Closing”), pursuant to the terms of the Note Purchase Agreement (the “NPA”) and Indenture Agreement (the “Indenture”), the Company issued $ 50.0 10 50 Under the NPA, the Lenders had the right, but not the obligation, to purchase additional Notes (the “Additional Notes” and, together with the Original Notes, the “Notes”), on a pro rata basis, in an aggregate principal amount of $ 20.0 30 20.0 2026 In conjunction with the issuance of Original Notes, the Company issued 18,518,520 “Initial Warrants”) 2.16 7,407,407 “ ” and, together with the Initial Warrants, the “Debt Warrants” 2.16 May 1, 2025 0.01 130 14.6 8.2 The fair value was determined based on no observable pricing inputs in the market and is categorized accordingly as Level 3 1933 35 . The Company filed such registration statement with the SEC on June 23, 2023, which the SEC declared effective on June 29, 2023. The carrying value of the Notes was $53.0 million as of September 30, 2024 three nine months ended September 30, 2024 Net amortization of the debt discount totaled $1.3 million and $1.8 million for the three nine months ended September 30, 2023 The total estimated fair value of the Notes approximates the carrying value of the Notes as of September 30, 2024 3 Additional Interest The Notes are subject to additional interest of up to 0.50 144 Redemption and Early Repayment The one 101 In the event of certain non-ordinary course asset sales, including sales of certain intellectual property or spectrum licensed by the FCC to the Company or its subsidiaries, the Company must make a mandatory repurchase offer for a portion of the Notes outstanding with the proceeds of such sale, at a price equal to 100% of the aggregate principal amount of the Notes with accrued and unpaid interest, subject to certain thresholds and limitations set forth in the Indenture. In the event of a change of control, each holder has the right, at such holder’s option and subject to the limitations set forth in the Indenture, to require the Company to repurchase for cash all or any portion of such holder’s Notes at a price equal to 101% of the aggregate principal amount with accrued and unpaid interest. Debt Covenant Compliance The Notes are guaranteed on a first lien senior secured basis by NextNav’s domestic subsidiaries and secured by substantially all of the assets of the Company and its domestic subsidiaries. The Indenture contains customary covenants limiting the ability of the Company and its subsidiaries to incur or guarantee additional indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates ; As of September 30, 2024

Warrants and Warrant Liability

Warrants and Warrant Liability	9 Months Ended
Warrants and Warrant Liability	Sep. 30, 2024
Warrants And Warrants Liability [Abstract]
Warrants and Warrant Liability	9 As of September 30, 2024 NextNav had 31,352,520 warrants outstanding, which includes: (a) 14,509,798 public warrants associated with Spartacus Acquisition Corp.’s (“Spartacus”) initial public offering (the “Public Warrants”), (b) 4,240,192 warrants issued to Spartacus in a private placement on the initial public offering closing date (the “Private Placement Warrants”) and (c) 12,602,530 warrants issued in connection with the Notes (the Debt Warrants, as further described in Note 8 The Private Placement Warrants are classified as a liability on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2024 nine months ended September 30, 2024 Accordingly, reclassified $4.8 million and $11.5 three nine months ended September 30, 2024 Holders of the Public Warrants, Private Placement Warrants and Debt Warrants are entitled to acquire shares of common stock of NextNav. With respect to the Public Warrants and Private Placement Warrants, each whole warrant entitles the registered holder to purchase one 11.50 October 28, 2026 September 30, 2024 During the nine months ended September 30, 2024 , 12,915,166 Debt Warrants were exercised for an aggregate of $27.9 million in cash. During the three and nine months ended S eptember 30, 2023 NextNav has 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. The Private Placement Warrants are identical in all respects to the Public Warrants except that, so long as they are held by the current holder or its permitted transferees: (i) they will not be redeemable by NextNav; (ii) they may be exercised by the holders on a cashless basis; and (iii) they are subject to registration rights. The Company had the right to redeem for cash the applicable pro rata portion of any Debt Warrant on each of May 1, 2025, September 1, 2025 and December 1, 2025, in each case, at a redemption price of $ 0.01 130 3

Common Stock

Common Stock	9 Months Ended
Common Stock	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Common Stock	10 As of September 30, 2024 (a) 500,000,000 shares of common stock and (b) 100,000,000 shares of undesignated preferred stock September 30, 2024 September 30, 2024 December 31, 2023

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and Contingencies Litigation and Legal Matters From time to time, the Company is party to litigation and other legal matters incidental to the conduct of its business. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. As of September 30, 2024

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Taxes
Income Taxes	12 The Company computes its year-to-date provision for income taxes by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusts the provision for discrete tax items recorded in the period. A valuation allowance has been established against the Company’s U.S. federal and state deferred tax assets, which results in an annualized effective tax rate for the Company’s U.S. operations of 0.0%. During the three months ended September Company’s three months ended September 30, 2024 three months ended September 30, 2023 24 For the nine months ended September 30, 2024 138 thousand related to foreign tax activity on a pretax loss of $ 69.5 million, resulting in an effective tax rate of ( 0.2)% . For the nine months ended September 30, 2023 159 55.2 0.3)%

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events
Subsequent Events	13. Subsequent Events The Company has completed an evaluation of all subsequent events through the date of this Quarterly Report on Form 10-Q to ensure that these financial statements include appropriate disclosure of events both recognized in the financial statements and events which occurred but were not recognized in the financial statements. The Company has concluded that no subsequent events have occurred that require disclosure.

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares
Trading Arrangements, by Individual [Table]
Material Terms of Trading Arrangement	Trading Plans On August 14, 2024, Robert Lantz, Senior Vice President, General Counsel and Secretary, adopted Pursuant to its terms, this 10b5-1 trading plan is expected to remain in place until the earlier of (i) March 31, 2025 and (ii) the date on which all transactions under such plan are completed. On August 29, 2024, Mariam Sorond, President, Chief Executive Officer and a Director, adopted Pursuant to its terms, this 10b5-1 trading plan is expected to remain in place until the earlier of (i) September 30, 2025 and (ii) the date on which all transactions under such plan are completed. On August 30, 2024, Christian Gates, Executive Vice President and Chief Financial Officer, adopted Pursuant to its terms, this 10b5-1 trading plan is expected to remain in place until the earlier of (i) September 30, 2025 and (ii) the date on which all transactions under such plan are completed. On August 30, 2024, Sammaad Shams, Chief Accounting Officer, adopted No other officers (as defined in Rule 16a-1(f) of the Exchange Act) or directors adopted terminated September
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Robert Lantz [Member]
Trading Arrangements, by Individual [Table]
Name	Robert Lantz
Title	Senior Vice President, General Counsel and Secretary
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 14, 2024
Aggregate Available	56,641
Mariam Sorond [Member]
Trading Arrangements, by Individual [Table]
Name	Mariam Sorond
Title	President, Chief Executive Officer and a Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 29, 2024
Aggregate Available	440,075
Christian Gates [Member]
Trading Arrangements, by Individual [Table]
Name	Christian Gates
Title	Executive Vice President and Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 30, 2024
Aggregate Available	34,136
Sammaad Shams [Member]
Trading Arrangements, by Individual [Table]
Name	Sammaad Shams
Title	Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 30, 2024
Aggregate Available	9,082

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in these condensed consolidated financial statements.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The condensed consolidated financial statements as of September 30, 2024 are unaudited. These interim financial statements of NextNav have been prepared in accordance with U.S. General Accepted Accounting Principles (“GAAP”) and SEC instructions for interim ’ December 31, 2023 2023 March 13, 2024 The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and reflect, in management’s opinion, all adjustments of a normal, recurring nature that are necessary for the fair statement of the Company’s financial position as of September 30, 2024 three and nine September 30, 2024 2023 ’ nine September 30, 2024 2023 There have been no changes to the Company’s significant accounting policies described in the 2023
Use of Estimates	Use of Estimates 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.
Cash and Cash Equivalents and Marketable Securities	Cash and Cash Equivalents and Marketable Securities Cash and cash equivalents include all cash in banks and highly liquid investments with an original maturity of three The Company invests excess cash primarily in U.S. treasury bills, U.S. government and government agency bonds, and money market funds. The Company classifies all marketable securities that have stated maturities of three three September 30, 2024 of gains from fair value changes from FVO available-for-sale debt securities in interest expense, net in the Condensed Consolidated Statements of Comprehensive Loss. There were no debt securities classified as available-for-sale in 2023
Revenue	Revenue The following table presents the Company’s revenue disaggregated by category and source: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Commercial $ 1,084 $ 945 $ 3,225 $ 2,565 Government contracts 523 5 533 15 Equipment sales — 77 — 77 Total revenue $ 1,607 $ 1,027 $ 3,758 $ 2,657
Contract Balances	Contract Balances Accounts receivable are billed and unbilled amounts related to the Company’s rights to consideration as performance obligations are satisfied when the rights to payment become unconditional but for the passage of time. As of September 30, 2024 December 31, 2023 million and $ 2.3 million, respectively. The Company estimates losses on accounts receivable based on expected losses, including its historical experience of actual losses. Receivables are considered impaired and written-off when it is probable that all contractual payments due will not be collected in accordance with the terms of the agreement. As of September 30, 2024 and December 31, 2023 , all accounts receivable balances were current and no Contract liabilities relate to amounts billed in advance, or advance consideration received from customers, for which transfer of control of the good or service occurs at a later point in time. As of September 30, 2024 December 31, 2023 303 thousand and $ 297 thousand, respectively, and are recorded in deferred revenue in the Condensed Consolidated Balance Sheets.
Equity-Based Compensation	Equity-Based Compensation Measurement of equity-based compensation with employees is based on the estimated grant date fair value of the equity instruments issued. The fair value of stock options is determined using the Black-Scholes option pricing model. The fair value of restricted awards is based on the closing price of NextNav’s common stock on the date of grant. NextNav recognizes equity-based compensation on a straight-line basis over the requisite service period of the grant, which is generally equal to the vesting period. NextNav accounts for forfeitures as they occur. The following details the amount of stock-based compensation included in cost of goods sold, research and development, and selling, general and administrative expenses: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Cost of goods sold $ 90 $ 561 $ 273 $ 1,705 Research and development 1,032 1,843 3,672 5,201 Selling, general and administrative 2,144 2,003 7,217 5,737 Total stock-based compensation expense $ 3,266 $ 4,407 $ 11,162 $ 12,643
Basic and Diluted Net Loss per Share	Basic and Diluted Net Loss per Share Basic loss per share (“EPS”) excludes dilution for common share equivalents and is computed by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding during each period, adjusted for the effect of dilutive common share equivalents. Restricted shares are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method. Outstanding options and warrants are included in the computation of diluted EPS, to the extent they are dilutive, determined using the treasury stock method. The determination of the diluted weighted average shares is included in the following calculation of EPS: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands, except per share amounts) (in thousands, except per share amounts) Numerator Net loss attributable to common stockholders $ (13,609 ) $ (23,220 ) $ (69,609 ) $ (55,339 ) Denominator Weighted average shares – basic and diluted 126,429 108,045 118,978 107,504 Basic and diluted loss per share $ (0.11 ) $ (0.21 ) $ (0.59 ) $ (0.51 ) The following details anti-dilutive unvested restricted stock units and unvested restricted stock awards, as well as the anti-dilutive effects of the outstanding warrants and stock options: Three Months Ended September 30, Nine Months Ended September 30, Antidilutive Shares Excluded 2024 2023 2024 2023 (in thousands) (in thousands) Warrants 31,353 44,268 31,353 44,268 Stock Options 4,199 3,667 4,199 3,667 Unvested Restricted Stock Units 5,159 3,500 5,159 3,500 Unvested Restricted Stock Awards 231 334 231 334
Equity Method Investment	Equity Method Investment The Company applies the equity method of accounting to investments when it has significant influence, but not controlling interest, in the investee. Judgment regarding the level of influence over each equity method investment includes considering key factors such as ownership interest, representation on the board of directors, participation in policy-making decisions and material intercompany transactions. The initial carrying value of equity method investment is based on the amount paid to purchase the interest in the investee entity. Subsequently, the investment is increased or decreased by the Company’s proportionate share in the investee’s earnings or losses and decreased by cash distributions from the investee. The Company eliminates from its financial results all significant intercompany transactions to the extent of its ownership interest, including the intercompany portion of transactions with equity method investee. The Company’s share of the investee’s income or loss is recorded on a one The Company evaluates equity method investment for impairment based upon a comparison of the fair value of the equity method investment to its carrying value, when impairment indicators exist. If the Company determines a decline in the fair value of an equity method investment below its carrying value is other-than-temporary, an impairment is recorded.
Leases	Leases NextNav leases office spaces under non-cancellable leases as well as site leases for towers and shelters under operating leases related to its network. Site leases are entered into throughout the United States under which NextNav receives the rights to install equipment used to transmit its services over its licensed spectrum. The Company, at the inception of the contract, determines whether a contract is or contains a lease based on assessment of the terms and conditions of the contract. The Company classifies leases with contractual terms longer than twelve twelve The Company’s leases may include options to extend or terminate the lease. The option to renew may be automatic, at the option of NextNav or mutually agreed to between the landlord and NextNav. Lease terms include the non-cancellable term and periods under options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company’s lease agreements generally contain lease and non-lease components. Payments under the lease arrangements are primarily fixed. Non-lease components primarily include payments for utilities and maintenance. The Company combines fixed payments for non-lease components with lease payments and accounts for them together as a single lease component which increases the amount of the Company’s lease assets and liabilities. Certain lease agreements contain variable payments, which are expensed as incurred and not included in the lease assets and liabilities. These amounts include payments for common area maintenance. Lease assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate, because the interest rate implicit in the Company’s leases is not readily determinable. The Company’s incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. Lease assets are reduced by landlord incentives, plus any direct costs from executing the leases or lease prepayments reclassified from “Other current assets” upon lease commencement. Operating lease expense is recognized on a straight-line basis over the lease term. Monthly rent expense includes any site related utility payments or other fees such as administrative or up-front fees contained in the lease agreements that are determinable upon execution of the lease agreement.
Acquired finite-lived intangible assets	Acquired finite-lived intangible assets 4
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized but is tested for impairment annually in the fourth quarter or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company operates as one September 30, 2024 December 31, 2023 The following summarizes the Company's goodwill activities: Nine Months Ended September 30, 2024 2023 (in thousands) Beginning Balance $ 17,977 $ 17,493 Changes in foreign exchange rates 208 (159 ) Purchase price adjustment — (96 ) Ending Balance $ 18,185 $ 17,238
Acquisitions	Acquisitions The Company accounts for its acquisitions using the acquisition method of accounting. The purchase price is attributed to the fair value of the assets acquired and liabilities assumed. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. The excess of the purchase price of acquisition over the fair value of the identifiable net assets of the acquiree is recorded as goodwill. The results of businesses acquired are included in the Company’s consolidated financial statements from the date of acquisition. When the Company issues stock-based or cash awards to an acquired company’s shareholders, the Company evaluates whether the awards are consideration or compensation for post-acquisition services. The evaluation includes, among other things, whether the vesting of the awards is contingent on the continued employment of the acquired company’s stockholders beyond the acquisition date. If continued employment is required for vesting, the awards are treated as compensation for post-acquisition services and recognized as expense over the requisite service period. Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenue and cash flows, discount rates, and selection of comparable companies. The estimates and assumptions used to determine the fair values and useful lives of identified intangible assets could change due to numerous factors, including market conditions, technological developments, economic conditions, and competition. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded as of the acquisition date. The Company continues to collect information and reevaluates these estimates and assumptions quarterly and records any adjustments to the Company’s preliminary estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the Company’s consolidated statement of operations. In connection with the determination of fair values, the Company may engage a third-party valuation specialist to assist with the valuation of intangible and certain tangible assets acquired and certain assumed obligations.
Long term debt	Long term debt I n conjunction with the issuance of senior secured notes in May and July of 2023 Debt discounts are amortized to interest expense based on the related debt agreements primarily using the effective interest method.
Non-controlling Interests	Non-controlling Interests The non-controlling interest in the Company’s condensed consolidated financial statements represents the warrants for Nestwave, SAS (as subsequently renamed, “NextNav France”) shares that were owned by the selling shareholders of NextNav France. Holders of the warrants do not have the right to income or obligation to losses, and the Company has not attributed any net loss to the non-controlling interests. During the three months ended June 30, 2024, 399,636 warrants, which represented all of the NextNav France shares that remained subject to warrants, were exercised and 397,037 1.4 .
Foreign Currency Translation	Foreign Currency Translation The functional currency of NextNav’s foreign subsidiaries is generally the local currency. Assets and liabilities are translated into U.S. dollars at the exchange rate in effect at the Condensed Consolidated Balance Sheet date. Operating accounts are translated at an average rate of exchange for the respective accounting periods. Translation adjustments resulting from the process of translating foreign currency financial statements into U.S. dollars are reported as a component of accumulated other comprehensive loss. Transaction gains and losses reflected in the functional currencies are charged to income or expense at the time of the transaction. Net transaction gains (losses) from foreign currency contracts recorded in the Condensed Consolidated Statements of Comprehensive Loss were immaterial for the three and nine September 30, 2024 2023
Recent Accounting Developments Not Yet Adopted	Recent Accounting Developments Not Yet Adopted During the fourth quarter of 2023 two 2023 07 280 “ 2023 07 ” 2023 09 740 “ 2023 09 ” ASU 2023 07 2023 09 currently evaluating the potential effect that the updated standards will have on the financial statement disclosures. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2024
Summary of Significant Accounting Policies
Schedule of company’s revenue disaggregated by category and source	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Commercial $ 1,084 $ 945 $ 3,225 $ 2,565 Government contracts 523 5 533 15 Equipment sales — 77 — 77 Total revenue $ 1,607 $ 1,027 $ 3,758 $ 2,657
Schedule of stock-based compensation included in cost of goods sold, research and development, and selling, general and administrative expenses	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Cost of goods sold $ 90 $ 561 $ 273 $ 1,705 Research and development 1,032 1,843 3,672 5,201 Selling, general and administrative 2,144 2,003 7,217 5,737 Total stock-based compensation expense $ 3,266 $ 4,407 $ 11,162 $ 12,643
Schedule of diluted weighted average shares	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands, except per share amounts) (in thousands, except per share amounts) Numerator Net loss attributable to common stockholders $ (13,609 ) $ (23,220 ) $ (69,609 ) $ (55,339 ) Denominator Weighted average shares – basic and diluted 126,429 108,045 118,978 107,504 Basic and diluted loss per share $ (0.11 ) $ (0.21 ) $ (0.59 ) $ (0.51 )
Schedule of anti-dilutive unvested restricted stock units and unvested restricted stock awards	Three Months Ended September 30, Nine Months Ended September 30, Antidilutive Shares Excluded 2024 2023 2024 2023 (in thousands) (in thousands) Warrants 31,353 44,268 31,353 44,268 Stock Options 4,199 3,667 4,199 3,667 Unvested Restricted Stock Units 5,159 3,500 5,159 3,500 Unvested Restricted Stock Awards 231 334 231 334
Schedule of goodwill activities	Nine Months Ended September 30, 2024 2023 (in thousands) Beginning Balance $ 17,977 $ 17,493 Changes in foreign exchange rates 208 (159 ) Purchase price adjustment — (96 ) Ending Balance $ 18,185 $ 17,238

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
Accrued Expenses and Other Current Liabilities (Tables)	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of accrued expenses and other current liabilities	September 30, 2024 December 31, 2023 (in thousands) Accrued salary and other employee liabilities $ 4,310 $ 3,913 Accrued legal and professional services 1,471 324 Accrued interest 2,333 583 Asset purchase agreement liability ( 1 ) 7,567 — Other 1,378 1,772 Total $ 17,059 $ 6,592 ( 1 Refer to Note 5 ’ September 30, 2024

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
Intangibles (Tables)	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible assets	September 30, 2024 December 31, 2023 Gross Amount Accumulated Amortization Net Carrying Value Gross Amount Accumulated Amortization Net Carrying Value Indefinite-Lived intangible assets $ 3,467 $ — $ 3,467 $ 3,467 $ — $ 3,467 Acquired Software 7,293 2,438 4,855 7,217 2,050 5,167 Acquired Technology 606 97 509 599 58 541 Internal Use Software 3,072 1,724 1,348 2,634 1,184 1,450 Total $ 14,438 $ 4,259 $ 10,179 $ 13,917 $ 3,292 $ 10,625
Schedule of future amortization	2024 $ 288 2025 1,127 2026 945 2027 731 2028 and thereafter 3,621 $ 6,712

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
Fair Value (Tables)	Sep. 30, 2024
Fair Value
Schedule of financial assets and liabilities measured at fair value	Level 1 Level 2 Level 3 Total (in thousands) September 30, 2024 Cash and Cash Equivalents - Money Market Funds $ 283 $ — $ — $ 283 Cash and Cash Equivalents - Available-for-sale debt securities with fair value option election — 65,096 — 65,096 Short term investments - Available -for-sale debt securities with fair value option election — 18,865 — 18,865 Private Placement Warrants — — 15,053 15,053 Asset purchase agreement liability — — 7,567 7,567 December 31, 2023 Cash and Cash Equivalents - Money Market Funds $ 127 $ — $ — $ 127 Cash and Cash Equivalents - Trading debt securities — 79,425 — 79,425 Short term investments - Trading debt securities — 3,954 — 3,954 Private Placement Warrants $ — $ — $ 7,053 $ 7,053
Schedule of fair value warrants estimated using the Black-Scholes option-pricing model	September 30, 2024 December 31, 2023 Values Values Stock Price $ 7.49 $ 4.45 Strike price $ 11.50 $ 11.50 Holding Period/Term (years) 2.07 2.82 Volatility 108.00 % 66.90 % Expected dividends None None Risk-Free Rate 3.65 % 4.05 % Fair value of warrants $ 3.55 $ 0.91
Schedule of assumption used in valuing the First Noncash consideration of asset purchase agreement liability to be settled in shares	September 30, 2024 Values 20 $ 7.42 Stock price $ 7.49
Schedule of liabilities measured at fair value	Warrants: (in thousands) Balance as of December 31, 2023 $ 7,053 Fair value adjustment of Private Placement Warrants 19,523 Reclassification of warrant liability to common stock warrants (11,523 ) Balance as of September 30, 2024 $ 15,053 Asset Purchase Agreement Liability: (in thousands) Balance as of December 31, 2023 $ — Initial recognition of asset purchase agreement liability 9,784 Fair value adjustment of asset purchase agreement liability (2,217 ) Balance as of September 30, 2024 $ 7,567

Organization and Business (Deta

Organization and Business (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Organization and Business
Net loss	$ 13,609	$ 24,390	$ 31,610	$ 23,220	$ 15,770	$ 16,349	$ 69,609	$ 55,339
Net cash used in operating activities							26,060	$ 24,607
Short term investments	$ 86,800						$ 86,800

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Summary of Significant Accounting Policies (Details) [Line Items]
Accounts receivable				$ 2,200	$ 2,300
Contract liabilities	$ 303			303	297
Allowances for doubtful accounts	0			0	0
Goodwill impairment	$ 0			0	0
Available-for-sale debt securities with fair value option election					$ 0
Fair value, option, changes in fair value, gain (loss) on available-for-sale debt securities in cash and cash equivalents				$ 517
Stock issued during period for redemption of non-controlling interests		$ (67)
Warrants outstanding	31,352,520			31,352,520
Non-controlling interest
Summary of Significant Accounting Policies (Details) [Line Items]
Stock issued during period for redemption of non-controlling interests		$ 1,362
Common Stock
Summary of Significant Accounting Policies (Details) [Line Items]
Stock issued during period for warrants exercised, shares	3,176,236	9,738,930	408,231
Stock issued during period for redemption of non-controlling interests, shares	397,037	397,037
Stock issued during period for redemption of non-controlling interests	$ 1,400
NextNav France [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Warrants outstanding	0			0
NextNav France [Member] \| Non-controlling interest
Summary of Significant Accounting Policies (Details) [Line Items]
Stock issued during period for warrants exercised, shares		399,636

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of company's revenue disaggregated by category and source - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue disaggregated by category
Total revenue	$ 1,607	$ 1,027	$ 3,758	$ 2,657
Commercial
Revenue disaggregated by category
Total revenue	1,084	945	3,225	2,565
Government contracts
Revenue disaggregated by category
Total revenue	523	5	533	15
Equipment sales
Revenue disaggregated by category
Total revenue		$ 77		$ 77

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of stock-based compensation included in cost of goods sold, research and development, and selling, general and administrative expenses - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Details of the amount of stock-based compensation
Total stock-based compensation expense	$ 3,266	$ 4,407	$ 11,162	$ 12,643
Cost of goods sold
Details of the amount of stock-based compensation
Total stock-based compensation expense	90	561	273	1,705
Research and development
Details of the amount of stock-based compensation
Total stock-based compensation expense	1,032	1,843	3,672	5,201
Selling, general and administrative
Details of the amount of stock-based compensation
Total stock-based compensation expense	$ 2,144	$ 2,003	$ 7,217	$ 5,737

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of diluted weighted average shares - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator
Net loss attributable to common stockholders	$ (13,609)	$ (23,220)	$ (69,609)	$ (55,339)
Denominator
Weighted average shares – basic (in Shares)	126,429	108,045	118,978	107,504
Weighted average shares – diluted (in Shares)	126,429	108,045	118,978	107,504
Basic loss per share (in Dollars per share)	$ (0.11)	$ (0.21)	$ (0.59)	$ (0.51)
Diluted loss per share (in Dollars per share)	$ (0.11)	$ (0.21)	$ (0.59)	$ (0.51)

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of anti-dilutive unvested restricted stock units - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Warrants
Details of anti-dilutive securities
Antidilutive Shares Excluded	31,353	44,268	31,353	44,268
Stock Options
Details of anti-dilutive securities
Antidilutive Shares Excluded	4,199	3,667	4,199	3,667
Unvested Restricted Stock Units
Details of anti-dilutive securities
Antidilutive Shares Excluded	5,159	3,500	5,159	3,500
Unvested Restricted Stock Awards
Details of anti-dilutive securities
Antidilutive Shares Excluded	231	334	231	334

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details) - Schedule of goodwill activities - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Summary of Significant Accounting Policies
Goodwill, Beginning Balance	$ 17,977	$ 17,493
Changes in foreign exchange rates	208	(159)
Purchase price adjustment		(96)
Goodwill, Ending Balance	$ 18,185	$ 17,238

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - Schedule of accrued expenses and other current liabilities - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued salary and other employee liabilities		$ 4,310	$ 3,913
Accrued legal and professional services		1,471	324
Accrued interest		2,333	583
Asset purchase agreement liability	[1]	7,567
Other accrued liabilities		1,378	1,772
Total		$ 17,059	$ 6,592

[1] Refer to Note 5 ’ September 30, 2024

Intangibles (Details)

Intangibles (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Intangibles (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Amortization expense	$ 0.3	$ 0.3	$ 0.9	$ 0.8
Acquired Software [Member]
Property, Plant and Equipment [Line Items]
Weighted average remaining useful lives			10 years 1 month 6 days

Intangibles (Details) - Schedul

Intangibles (Details) - Schedule of Intangible assets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Intangible Assets and Goodwill [Line Items]
Gross Amount	$ 14,438	$ 13,917
Accumulated Amortization	4,259	3,292
Net Carrying Value	10,179	10,625
Indefinite-Lived Intangible Assets [Member]
Intangible Assets and Goodwill [Line Items]
Gross Amount	3,467	3,467
Accumulated Amortization
Net Carrying Value	3,467	3,467
Acquired Software [Member]
Intangible Assets and Goodwill [Line Items]
Gross Amount	7,293	7,217
Accumulated Amortization	2,438	2,050
Net Carrying Value	4,855	5,167
Acquired Technology [Member]
Intangible Assets and Goodwill [Line Items]
Gross Amount	606	599
Accumulated Amortization	97	58
Net Carrying Value	509	541
Internal Use Software [Member]
Intangible Assets and Goodwill [Line Items]
Gross Amount	3,072	2,634
Accumulated Amortization	1,724	1,184
Net Carrying Value	$ 1,348	$ 1,450

Intangibles (Details) - Sched_2

Intangibles (Details) - Schedule of future amortization $ in Thousands	Sep. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 288
2025	1,127
2026	945
2027	731
2028 and thereafter	3,621
Total	$ 6,712

Asset Purchase Agreement (Detai

Asset Purchase Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		4 Months Ended	9 Months Ended
Asset Purchase Agreement (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024	Apr. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Cash consideration payment to settlement of liability				$ 2,732
Increase (derease) through fair value adjustment of asset purchase agreement liability				2,217
Multilateration Location and Monitoring Service licenses [Member] \| Progeny LMS, LLC [Member]
Business Acquisition [Line Items]
Consideration Payable in shares				7,500
Contingent consideration payable in shares				$ 20,000
Asset Acquisition, Consideration transferred		$ 9,800
Period for weighted average share price for assumption of fair value of shares expected to be issued				20 days
Cash consideration payment to settlement of liability			$ 2,500
Increase (derease) through fair value adjustment of asset purchase agreement liability	$ 300			$ 2,200
Loss contingency liability, recorded amount	$ 0			0
Multilateration Location and Monitoring Service licenses [Member] \| Progeny LMS, LLC [Member] \| Alameda Court Approval [Member]
Business Acquisition [Line Items]
Cash Consideration Payable		$ 2,500		$ 2,500
Maximum period for cash consideration payable after approval from jurisdiction				30 days
Multilateration Location and Monitoring Service licenses [Member] \| Progeny LMS, LLC [Member] \| Federal Communications Commission (the “FCC”) Approval [Member]
Business Acquisition [Line Items]
Consideration Payable in shares				$ 20,000
Maximum period for non-cash consideration payable after approval from jurisdiction				30 days

Equity Method Investment (Detai

Equity Method Investment (Details) $ in Thousands	3 Months Ended		9 Months Ended
Equity Method Investment (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 ¥ / shares	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Account receivables	$ 13		$ 13			$ 107
Met Com [Member]
Schedule of Equity Method Investments [Line Items]
Shares representing ownership \| shares			702,334
Ownership percentage	14.80%		14.80%
Other long-term assets	$ 586		$ 586			$ 705
Other income (expenses)	$ 37	$ 71	$ 118	$ 157
Met Com [Member] \| Warrant [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	33%		33%
Warrants exercise price per share \| ¥ / shares					¥ 10

Fair Value (Details) - Schedule

Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Short term investments		$ 18,865	$ 3,954
Available-for-sale debt securities with fair value option election			0
Private Placement Warrants		15,053	7,053
Asset purchase agreement liability	[1]	7,567
Private Placement Warrants [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Private Placement Warrants		15,053	7,053
Cash and Cash Equivalents [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election		65,096
Trading debt securities			79,425
Short-Term Investments [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election		18,865
Trading debt securities			3,954
Money Market Funds [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Cash and Cash Equivalents		283	127
Level 1 [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Asset purchase agreement liability
Level 1 [Member] \| Private Placement Warrants [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Private Placement Warrants
Level 1 [Member] \| Cash and Cash Equivalents [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election
Trading debt securities
Level 1 [Member] \| Short-Term Investments [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election
Trading debt securities
Level 1 [Member] \| Money Market Funds [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Cash and Cash Equivalents		283	127
Level 2 [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Asset purchase agreement liability
Level 2 [Member] \| Private Placement Warrants [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Private Placement Warrants
Level 2 [Member] \| Cash and Cash Equivalents [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election		65,096
Trading debt securities			79,425
Level 2 [Member] \| Short-Term Investments [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election		18,865
Trading debt securities			3,954
Level 2 [Member] \| Money Market Funds [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Cash and Cash Equivalents
Level 3 [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Asset purchase agreement liability		7,567
Level 3 [Member] \| Private Placement Warrants [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Private Placement Warrants		15,053	7,053
Level 3 [Member] \| Cash and Cash Equivalents [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election
Trading debt securities
Level 3 [Member] \| Short-Term Investments [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Available-for-sale debt securities with fair value option election
Trading debt securities
Level 3 [Member] \| Money Market Funds [Member]
Fair Value (Details) - Schedule of financial assets and liabilities measured at fair value [Line Items]
Cash and Cash Equivalents

[1] Refer to Note 5 ’ September 30, 2024

Fair Value (Details) - Schedu_2

Fair Value (Details) - Schedule of fair value warrants estimated using the Black-Scholes option-pricing model - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value
Stock Price (in Dollars per share)	$ 7.49	$ 4.45
Strike price	$ 11.5	$ 11.5
Holding Period/Term (years)	2 years 25 days	2 years 9 months 25 days
Volatility	108%	66.90%
Expected dividends	0%	0%
Risk-Free Rate	3.65%	4.05%
Fair value of warrants (in Dollars per share)	$ 3.55	$ 0.91

Fair Value - Schedule of assump

Fair Value - Schedule of assumption used in valuing the First Noncash consideration of asset purchase agreement liability to be settled in shares (Details) - Multilateration Location and Monitoring Service licenses [Member] - Progeny LMS, LLC [Member] $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares
Fair Value
20-day volume weighted average price	$ 7.42
Stock price	$ 7.49
Consideration Payable in shares \| $	$ 7.5
Period for weighted average share price for assumption of fair value of shares expected to be issued	20 days

Fair Value (Details) - Schedu_3

Fair Value (Details) - Schedule of liabilities measured at fair value - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023
Reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3)
Reclassification of warrant liability to Common Stock warrants	$ (4,747)	$ (4,308)	$ (2,468)
Fair value adjustment of asset purchase agreement liability				$ (2,217)
Private Placement Warrants [Member]
Reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3)
Beginning balance for the liabilities measured at fair value using significant unobservable inputs (Level 3)			7,053	7,053
Fair value adjustment of Private Placement Warrants				19,523
Reclassification of warrant liability to Common Stock warrants				(11,523)
Ending balance for the liabilities measured at fair value using significant unobservable inputs (Level 3)	15,053			15,053
Asset Purchase Agreement Liability
Reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3)
Beginning balance for the liabilities measured at fair value using significant unobservable inputs (Level 3)
Initial recognition of asset purchase agreement liability				9,784
Fair value adjustment of asset purchase agreement liability				(2,217)
Ending balance for the liabilities measured at fair value using significant unobservable inputs (Level 3)	$ 7,567			$ 7,567

Long term debt, net (Details)

Long term debt, net (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		9 Months Ended
	Jun. 08, 2023	May 09, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jul. 06, 2023
Long term debt, net
Warrants			31,352,520		31,352,520
Carrying value of the Notes, net of debt issuance cost and discount			$ 52,974		$ 52,974		$ 48,447
Amortization of debt issuance costs and discount					4,526	$ 1,771
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member]
Long term debt, net
Debt discount of the Notes			17,000		17,000
Debt Instrument, Aggregate principal amount	$ 20,000	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage		10%
Debt Instrument, Maturity Date		Dec. 01, 2026
Debt Instrument, Frequency of Periodic Payment		semi-annually
Proceeds from issuance of debt	$ 20,000
Carrying value of the Notes, net of debt issuance cost and discount			53,000		53,000
Amortization of debt issuance costs and discount			$ 1,600	$ 1,300	$ 4,500	$ 1,800
Debt Instrument, Redemption Period, Start Date					May 09, 2024
Debt Instrument, Redemption Price, Percentage					101%
Debt Instrument, Redemption Price, Percentage of Principal Amount at Event of Certain Non-Ordinary Course Asset Sales			100%		100%
Debt Instrument, Redemption Price, Percentage of Principal Amount at Event of Change of Control			101%		101%
Debt Instrument, Covenant Compliance					the Company was in compliance with all of the applicable debt covenants
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Maximum [Member]
Long term debt, net
Percentage of accrued and unpaid interest on debt		50%
Exercise period of debt issued, from date of initial closing	30 days
Debt Instrument, Interest Rate, Increase (Decrease)					0.50%
Debt Instrument, Interest Rate, Increase at Event of Default			2%		2%
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Warrant [Member]
Long term debt, net
Warrants		18,518,520	12,602,530		12,602,530			7,407,407
Exercise price of warrants issued		$ 2.16	$ 2.16		$ 2.16			$ 2.16
Warrant redemption price per share of underlying common stock			$ 0.01		$ 0.01
Fair value of debt		$ 14,600	$ 22,800		$ 22,800			$ 8,200
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Warrant [Member] \| Minimum [Member]
Long term debt, net
Debt instrument, Redemption price, Percentage of exercise price of warrants			130%		130%
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Warrant [Member] \| Maximum [Member]
Long term debt, net
Exercise period of debt issued, from date of initial closing					35 days

Warrants and Warrant Liability

Warrants and Warrant Liability (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended			9 Months Ended
	Jun. 08, 2023	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Jul. 06, 2023	May 09, 2023
Warrants and Warrant Liability (Details) [Line Items]
Warrants outstanding		31,352,520			31,352,520
Description of warrants					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.
Reclassification from warrant liability to additional paid-in capital		$ 4,747	$ 4,308	$ 2,468
Aggregate proceeds from warrant Exercises					$ 27,896	$ 882
Warrant [Member]
Warrants and Warrant Liability (Details) [Line Items]
Reclassification from warrant liability to equity (in shares)		1,259,322			3,510,338
Reclassification from warrant liability to additional paid-in capital		$ 4,800			$ 11,500
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Maximum [Member]
Warrants and Warrant Liability (Details) [Line Items]
Exercise period of debt issued, from date of initial closing	30 days
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Warrant [Member]
Warrants and Warrant Liability (Details) [Line Items]
Warrants outstanding		12,602,530			12,602,530		7,407,407	18,518,520
Class of warrant or right number of securities called by each warrant or right		1			1
Exercise price per unit (in Dollars per share)		$ 2.16			$ 2.16		$ 2.16	$ 2.16
Warrants, maturity date		Jun. 01, 2027			Jun. 01, 2027
Financial Instrument Subject to Mandatory Redemption, Par Value Per Share		$ 0.01			$ 0.01
Fair value of debt		$ 22,800			$ 22,800		$ 8,200	$ 14,600
Stock issued during period for warrants exercised, shares		3,176,236			12,915,166
Aggregate proceeds from warrant Exercises		$ 6,900			$ 27,900
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Warrant [Member] \| Minimum [Member]
Warrants and Warrant Liability (Details) [Line Items]
Debt instrument, Redemption price, Percentage of exercise price of warrants		130%			130%
Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Warrant [Member] \| Maximum [Member]
Warrants and Warrant Liability (Details) [Line Items]
Exercise period of debt issued, from date of initial closing					35 days
Public Warrants and Private Placement Warrants [Member]
Warrants and Warrant Liability (Details) [Line Items]
Exercise price per unit (in Dollars per share)		$ 11.5			$ 11.5
Warrants, maturity date		Oct. 28, 2026			Oct. 28, 2026
Public Warrants and Private Placement Warrants [Member] \| Note Purchase Agreement and Indenture Agreement [Member] \| Senior Secured Notes due 2026 [Member] \| Warrant [Member]
Warrants and Warrant Liability (Details) [Line Items]
Class of warrant or right number of securities called by each warrant or right		1			1
Public Warrants [Member]
Warrants and Warrant Liability (Details) [Line Items]
Warrants outstanding		14,509,798			14,509,798
Private Placement Warrants [Member]
Warrants and Warrant Liability (Details) [Line Items]
Warrants outstanding		4,240,192			4,240,192

Common Stock (Details)

Common Stock (Details) - $ / shares	9 Months Ended
Common Stock (Details) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common Stock and Convertible Preferred Units (Details) [Line Items]
Common stock, shares issued	127,677,549	111,261,434
Common stock, shares outstanding	127,545,321	111,132,222
Common stock, shares authorized	500,000,000	500,000,000
Preferred stock, shares authorized	100,000,000
Preferred Stock, Shares Issued	0
Preferred Stock, Shares Outstanding		0
Capital stock shares authorized	600,000,000
Capital stock par or stated value per share	$ 0.0001

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Taxes (Details) [Line Items]
Effective tax rate	(0.20%)	(0.10%)	(0.20%)	(0.30%)
Income tax provision (benefit)	$ 26	$ 24	$ 138	$ 159
pretax loss	$ 13,583	$ 23,196	$ 69,471	$ 55,180
U.S. Federal and State [Member]
Income Taxes (Details) [Line Items]
Effective tax rate			0%