Company: NXNVW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001213900-25-023287
Chunk: 78

Company: NEXTNAV INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 4
Chunk 78
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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 during the year ended December 31, 2024 from $4.8 million during the year ended December 31, 2023. The increase in depreciation and 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