Company: NXNVW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001213900-25-023287
Chunk: 57

Company: NEXTNAV INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 3
Chunk 57
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 amortization expense is primarily attributable to placing the network assets in service since the third quarter of 2023.

Interest Expense, Net

Year EndedDecember 31,

2024

2023

$ Change

% Change

(in thousands)

Interest expense, net
 
$
(9,401
)
 
$
(3,664
)
 
$
(5,737
)

156.6
%    

Interest expense, net of interest income, for the year ended December 31, 2024 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