Company: NXNVW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001213900-25-023287
Chunk: 79

Company: NEXTNAV INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 4
Chunk 79
---
 was $9.4 million. Interest expense, net of interest income, for the year ended December 31, 2023 was $3.7 million. The increase in interest expense was due to interest and amortization of debt discounts on our senior secured notes issued during the second and third quarters of 2023.

Other Expense

Year EndedDecember 31,

2024

2023

$ Change

% Change

(in thousands)

Other expense
 
$
(32,207
)
 
$
(4,321
)
 
$
(27,886
)

645.4
%    

Other expense was $32.2 million for the year ended December 31, 2024 compared with other expense of $4.3 million for the year ended December 31, 2023.The increase was primarily driven by a $29.1 million increase in expense related to change in the fair value of warrants, partially offset by $1.0 million of income related to the settlement of the Asset Purchase Agreement liability. 

36    

Liquidity and Capital Resources

We have incurred net losses since our inception and to date have generated only limited revenue. We have primarily relied upon debt and equity financings to fund our cash requirements. During each of the twelve months ended December 31, 2024 and 2023, we incurred net losses of $101.9 million and $71.7 million, respectively. During each of the twelve months ended December 31, 2024, our net cash used in operating activities and cash provided by investing activities was $38.0 million was $39.5 million, respectively. During the twelve months ended December 31, 2023, our net cash used in operating activities and investing activities was $35.4 million and $1.1 million, respectively. As of December 31, 2024, we had cash and cash equivalents and marketable securities of $80.1 million and an accumulated deficit of $862.1 million. We expect to incur additional losses and higher operating expenses for the foreseeable future. Our primary uses of cash are to fund our operations as we continue to grow our business. We will require a significant amount of cash for expenditures as we invest in ongoing research and development and our PNT networks. 

Managing liquidity and our cash position is a priority of ours. We continually work to optimize our expenses in light of the growth of our business,