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Nextnav cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$18.0M in Q2 2026 · −$53.1M over twelve months

Operating cash flow−$18.0M
Capital spending−$5K
Free cash flow−$18.0M
Cash conversion cycle84 days

Analysis

In Q2 2026, Nextnav generated −$18.0M of operating cash flow and spent $5K on capital projects, leaving free cash flow of −$18.0M. That is $4.4M less than in Q2 2025 (−$13.6M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$53.1M; the largest uses were operating cash flow ($53.1M), other investing ($31.1M), capital spending ($8K); besides operations, cash came from other financing ($99.8M), shares issued ($3.6M); the cash balance rose by $18.8M.

Operating cash flow was −$18.0M against net income of −$33.8M. The largest differences: stock-based pay +$5.9M, accrued liabilities −$1.9M, depreciation & amortization +$1.3M.

Its cash conversion cycle was 84 days (receivables 138 + inventory 0 − payables 54).

Free cash flow

Nextnav: free cash flow by quarterNextnav: free cash flow by quarter−$6.8MQ3 2024−$12.1MQ4 2024−$12.2MQ1 2025−$13.6MQ2 2025−$9.0MQ3 2025−$16.1MQ4 2025−$10.1MQ1 2026−$18.0MQ2 2026
Operating cash flow less capital spending.
Nextnav: operating cash flow against capital spendingNextnav: operating cash flow against capital spendingOperating cash flowCapital spending−$6.8M$1KQ3 2024−$11.9M$168KQ4 2024−$12.2M$30KQ1 2025−$13.5M$27KQ2 2025−$9.0M$8KQ3 2025−$16.1M−$15KQ4 2025−$10.0M$10KQ1 2026−$18.0M$5KQ2 2026
Latest (Q2 2026): Operating cash flow −$18.0M, Capital spending $5K.

Capital allocation, year by year

Nextnav: where the cash came from (up) and went (down), by fiscal yearNextnav: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$47.9MFY2021: Net borrowing $136MFY2021: Shares issued $2KFY2021: Asset sales $37KFY2021: Capital spending −$1.0M$136MFY2021FY2022: Operating cash flow −$37.1MFY2022: Net borrowing −$17KFY2022: Shares issued $64KFY2022: Capital spending −$3.0MFY2022: Acquisitions −$2.9MFY2022: Buybacks −$4K$64KFY2022FY2023: Operating cash flow −$35.4MFY2023: Net borrowing $69.9MFY2023: Shares issued $73KFY2023: Capital spending −$2.8M$70.0MFY2023FY2024: Operating cash flow −$38.0MFY2024: Net borrowing −$111KFY2024: Shares issued $3.8MFY2024: Capital spending −$350K$3.8MFY2024FY2025: Operating cash flow −$50.7MFY2025: Net borrowing $119MFY2025: Shares issued $2.0MFY2025: Capital spending −$50K$121MFY2025
Over these 5 years operating cash flow totalled −$209M; the largest uses were operating cash flow ($209M) and capital spending ($7.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$229M
Debt$267M
Net debt$38.4M
Cash runway4.3 years

Nextnav is burning cash: its operations consume cash, a free cash flow of −$53.1M a year at the current rate against $229M of cash and investments: a runway of about 4.3 years before any new financing.

Where the cash came from and went

Nextnav: sources (+) and uses (−) of cash, Q2 2026Nextnav: sources (+) and uses (−) of cash, Q2 2026Other financing$100MCash drawn (+) / kept (−)−$47.1MOther investing−$37.9MOperating cash flow−$18.0MShares issued$2.8MExchange rates−$21KCapital spending−$5K
Nextnav: sources (+) and uses (−) of cash, TTM to Q2 2026Nextnav: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$99.8MOperating cash flow−$53.1MOther investing−$31.1MCash drawn (+) / kept (−)−$18.8MShares issued$3.6MExchange rates−$278KCapital spending−$8K

From profit to cash

Nextnav: net income to operating cash flow, Q2 2026Nextnav: net income to operating cash flow, Q2 2026Net income−$33.8MDepreciation & amortization$1.3MStock-based pay$5.9MGains on investments−$1.0MReceivables−$729KPayables−$544KAccrued liabilities−$1.9MDeferred revenue−$96KPrepaid and other assets$8KOperating cash flow−$18.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026138—5484
Q1 2026169—46123
Q4 2025184—36148
Q3 2025190—55135
Q2 2025147—6186
Q1 2025145—35109
Q4 2024133—33101
Q3 2024128—3792

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$18.0M−$5K—$2.8M−$47.1M−$18.0M
Q1 2026−$10.0M−$10K—$250K$14.2M−$10.1M
Q4 2025−$16.1M$15K—$343K$45.2M−$16.1M
Q3 2025−$9.0M−$8K−$700K$192K−$31.1M−$9.0M
Q2 2025−$13.5M−$27K—$1.2M$91.6M−$13.6M
Q1 2025−$12.2M−$30K$120M$232K−$111M−$12.2M
Q4 2024−$11.9M−$168K−$29K$1.9M$28.6M−$12.1M
Q3 2024−$6.8M−$1K−$27K$232K−$4.9M−$6.8M

Nextnav: income statement and cash flow

Nextnav, Q2 2026: revenue $1.1M (-4% year over year). The chart follows the revenue to costs, profit and cash.

Nextnav: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.