Overview
NextNav Q3 revenue missed analyst expectations
Company reported net income of $483,000 for Q3
NextNav extended agreement with AT&T for Pinnacle network by two years
Outlook
NextNav did not provide specific financial guidance for the current quarter or full year
Result Drivers
FCC ADVOCACY - NextNav continued to advocate for FCC progress despite government shutdown, aiming for technology commercialization
5G PNT MILESTONE - Achieved major milestone in 5G-based 3D PNT solution, delivering accurate timing and positioning
AT&T AGREEMENT - Extended agreement with AT&T for Pinnacle network operations by two years
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $887,000 | $1.13 mln (2 Analysts) |
Q3 EPS | -$0.12 | ||
Q3 Net Income | $483,000 | ||
Q3 Operating Expenses | $20.75 mln | ||
Q3 Operating Income | -$19.87 mln | ||
Q3 Pretax Profit | $529,000 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the phones & handheld devices peer group is "buy"
Wall Street's median 12-month price target for NextNav Inc is $20.00, about 37% above its November 5 closing price of $12.61
Press Release: ID:nBw93Khnja
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)