How NextNav makes money

Period

FY2025

How does NextNav make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

NextNav Inc. · FY2025 · year ended 2025-12-31

Revenue$5MNet loss$189M · 4138%Cost of revenue$0 · 0%Gross profit$5M · 100%Operating expenses$75M · 1636%R&D$19M · 414%SG&A$40M · 865%Other opex$16M · 356%Income tax$198000 · 4%Other expense$119M · 2598%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.