Company: NXNVW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001213900-25-023287
Chunk: 159

Company: NEXTNAV INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 159
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 and Development

Year EndedDecember 31,

2024

2023

$ Change

% Change

(in thousands)

Research and development
 
$
16,242

$
19,503

$
(3,261
)

(16.7)
%    

35    

Research and development expenses decreased by $3.3 million, or 17%, to $16.2 million for the year ended December 31, 2024 from $19.5 million for the year ended December 31, 2023. The decrease was primarily driven by a $2.5 million decrease in stock based compensation, a $0.7 million decrease in software license expenses, a $0.4 million decrease in outside consulting expenses, a $0.2 million decrease in maintenance and operational cost, and a $0.1 million decrease in professional fee. The decreases were partially offset by a $0.6 million increase in payroll-related expenses.  

Selling, General and Administrative

Year EndedDecember 31,

2024

2023

$ Change

% Change

(in thousands)

Selling, general and administrative
 
$
33,510

$
30,324

$
3,186

10.5
%    

Selling, general and administrative expenses increased by $3.2 million, or 11%, to $33.5 million during the year ended December 31, 2024 from $30.3 million in the year ended December 31, 2023. The increase was primarily driven by a $3.0 million increase in professional services, a $3.0 million increase in payroll-related expenses driven by headcount costs, executive and employment separation costs, a $1.0 million increase in outside consulting expenses, a $0.5 million increase in other operational expenses, and a $0.3 million increase in marketing and recruiting cost. The increases were partially offset by a $3.8 million decrease in stock-based compensation and a $0.8 million decrease in directors’ and officers’ insurance.

Depreciation and Amortization

Year EndedDecember 31,

2024

2023

$ Change

% Change

(in thousands)

Depreciation and amortization
 
$
5,238

$
4,821

$
417

8.6
%    

Depreciation and amortization expenses increased by $0.4 million, or 9%, to $5.2 million