v3.26.1
Segments
 6 Months Ended
Jun. 30, 2026
Segments  
Segments

13. Segments

 

NextNav operates as one operating segment. Information on the Company’s products and service offerings are included in Note 1 - Organization and Business. The accounting policies of the single operating segment are the same as those described in Note 2 - Summary of Significant Accounting Policies.

NextNav’s CODM is its Chief Executive Officer, who reviews financial information presented on an entity-wide basis for purposes of making operating decisions, assessing financial performance, and allocating resources.

The CODM assesses performance and decides how to allocate resources based on consolidated net loss that also is reported on the Consolidated Statements of Comprehensive Loss. Consolidated net loss is used to monitor budget versus actual results and in the annual budgeting and forecasting process. The measure of segment assets is reported on the Consolidated Balance Sheets as total consolidated assets. The CODM reviews cash flow forecasts in making capital and investment decisions. The CODM considers budget-to-actual variances in consolidated net loss monthly in determining performance and the compensation of employees.

NextNav did not have any intra-entity sales or transfers during the three and six months ended June 30, 2026 and 2025.

 

The Company reclassified certain expenses between significant expense categories presented in the segment financial information below for all periods to align with the changes in the financial reporting presented to the CODM. Segment financial information for the three and six months ended June 30, 2026 and 2025 is as follows:

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2026

 

2025

 

2026

 

2025

Revenue

$

(1,150)

 

$

(1,202)

 

$

(2,145)

 

$

(2,741)

Less:

 

 

 

 

 

 

 

 

 

 

 

Technology development expenses

 

3,058

 

 

2,628

 

 

6,082

 

 

5,102

Business operation expenses

 

4,082

 

 

3,989

 

 

8,373

 

 

8,013

General and administrative expenses

 

6,837

 

 

6,220

 

 

13,300

 

 

12,676

Depreciation and amortization

 

1,320

 

 

1,350

 

 

2,854

 

 

2,802

Interest expense, net

 

3,080

 

 

3,020

 

 

6,993

 

 

5,758

Change in fair value of warrants and derivative liabilities

 

31,731

 

 

39,494

 

 

19,126

 

 

57,976

Other segment items1

 

(15,263)

 

 

7,654

 

 

(10,323)

 

 

32,088

Provision for income taxes

 

60

 

 

42

 

 

116

 

 

100

Consolidated net loss

$

33,755

 

$

63,195

 

$

44,376

 

$

121,774

 

1 Other segment items include equity-based compensation, debt extinguishment loss (gain), non-cash other loss, non-cash rent expense, capitalized labor costs, accretion expense on asset retirement obligations and other income (loss).