Organization and Business Operations	3 Months Ended
Mar. 31, 2023
Organization and Business; Business Combination
Organization and Business; Business Combination	1. Organization and Business; Business Combination Principal Business NextNav Inc. and its consolidated subsidiaries (collectively “NextNav” or the “Company”) delivers next generation positioning, navigation and timing (“PNT”) solutions built on a robust asset platform, including 8MHz of wireless spectrum in the 900MHz band, intellectual property and deployed network systems. Our Pinnacle system provides “floor-level” altitude service to any device with a barometric pressure sensor, including most off-the-shelf Android and iOS smartphones. Our TerraPoiNT system is a terrestrial-based, encrypted network designed to overcome the limitations inherent in the space-based nature of global positioning system (“GPS”) through a network of specialized wide area location transmitters that broadcasts an encrypted PNT signal over our licensed spectrum. Since its inception, NextNav has incurred recurring losses and generated negative cash flows from operations and has primarily relied upon debt and equity financings to fund its cash requirements. During the three months ended March 31, 2023 and 2022, the Company incurred net losses of $16.3 million and $9.7 million, respectively. During the three months ended March 31, 2023 and 2022, net cash used in operating activities was $7.4 million and $6.1 million, respectively. As of March 31, 2023, cash and cash equivalents and marketable securities was $46.8 million. The Company’s primary use of cash is to fund operations as NextNav continues to grow. The Company expects to incur additional losses and higher operating expenses for the foreseeable future, specifically as NextNav invests in ongoing research and development and the expansion of the TerraPoiNT network. Management has the intent and ability to manage liquidity through the timing and extent of research and development spend, as well as other discretionary operating expenses.The Company believes that its cash and cash equivalents and marketable securities as of May 10, 2023 will be sufficient to meet its working capital and capital expenditure needs, including all contractual commitments, for the next 12 months. The Company expects to meet longer term expected future cash requirements and obligations through a combination of cash flows from operations and issuance of equity securities or debt offerings. However, this determination is based upon internal projections of operating cash flows and is subject to changes in market and business conditions. Subsequent to March 31, 2023, we received $50 million of senior secured notes in private placement. See Note 11 — Subsequent Events for further information.

Organization and Business Operations

3 Months Ended

Mar. 31, 2023

Organization and Business; Business Combination

Organization and Business; Business Combination

1. Organization and Business; Business Combination

Principal Business

NextNav Inc. and its consolidated subsidiaries (collectively “NextNav” or the “Company”) delivers next generation positioning, navigation and timing (“PNT”) solutions built on a robust asset platform, including 8MHz of wireless spectrum in the 900MHz band, intellectual property and deployed network systems. Our Pinnacle system provides “floor-level” altitude service to any device with a barometric pressure sensor, including most off-the-shelf Android and iOS smartphones. Our TerraPoiNT system is a terrestrial-based, encrypted network designed to overcome the limitations inherent in the space-based nature of global positioning system (“GPS”) through a network of specialized wide area location transmitters that broadcasts an encrypted PNT signal over our licensed spectrum.

Since its inception, NextNav has incurred recurring losses and generated negative cash flows from operations and has primarily relied upon debt and equity financings to fund its cash requirements. During the three months ended March 31, 2023 and 2022, the Company incurred net losses of $16.3 million and $9.7 million, respectively. During the three months ended March 31, 2023 and 2022, net cash used in operating activities was $7.4 million and $6.1 million, respectively. As of March 31, 2023, cash and cash equivalents and marketable securities was $46.8 million. The Company’s primary use of cash is to fund operations as NextNav continues to grow. The Company expects to incur additional losses and higher operating expenses for the foreseeable future, specifically as NextNav invests in ongoing research and development and the expansion of the TerraPoiNT network. Management has the intent and ability to manage liquidity through the timing and extent of research and development spend, as well as other discretionary operating expenses.The Company believes that its cash and cash equivalents and marketable securities as of May 10, 2023 will be sufficient to meet its working capital and capital expenditure needs, including all contractual commitments, for the next 12 months. The Company expects to meet longer term expected future cash requirements and obligations through a combination of cash flows from operations and issuance of equity securities or debt offerings. However, this determination is based upon internal projections of operating cash flows and is subject to changes in market and business conditions. Subsequent to March 31, 2023, we received $50 million of senior secured notes in private placement. See Note 11 — Subsequent Events for further information.