Company: NXNVW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001213900-25-023287
Chunk: 179

Company: NEXTNAV INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 179
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 our statements of operations for the periods indicated:

Year EndedDecember 31,

2024

2023

(in thousands)

Revenue
$
5,669

$
3,862

Operating Expense:

Cost of goods sold(1)
 
10,777

12,743

Research and development(1)
 
16,242

19,503

Selling, general and administrative(1)
 
33,510

30,324

Depreciation and amortization
 
5,238

4,821

Total operating expenses
 
65,767

67,391

Operating loss
 
(60,098
)

(63,529
) 

Interest expense, net
 
(9,401
)

(3,664
) 

Other expense
 
(32,207
)

(4,321
) 

Loss before income taxes
 
(101,706
)

(71,514
) 

Provision for income taxes
 
173

221

Net loss
$
(101,879
)
 
$
(71,735
)    

(1)
Cost of goods sold, research and development, and selling, general and administrative expense for the periods do not include depreciation and amortization, which is presented separately in the Consolidated Statements of Comprehensive Loss, but include stock-based compensation as follows:    

34    

Year EndedDecember 31,

2024

2023

(in thousands)

Cost of goods sold
 
$
729

$
2,318

Research and development

4,106

6,655

Selling, general and administrative

9,021

12,865

Total stock-based compensation expense 
 
$
13,856

$
21,838

Comparison of the Fiscal Years Ended December 31, 2024 and 2023

Revenue

Year Ended December 31,

2024

2023

$ Change

% Change

(in thousands)

Revenue
 
$
5,669

$
3,862

$
1,807

46.8
%    

Revenue increased by $1.8 million, or 47%, to $5.7 million for the year ended December 31, 2024 from $3.9 million for the year ended December 31, 2023. The increase was driven by an increase in service revenue from technology and services contracts with government and commercial customers. For the year ended December 31, 2024, three customers accounted for 57%, 18% and 11% of total