Business
NextNav Inc. Reports Fourth Quarter and Full Year 2022 Results
Launches E911 Services on Verizon in FY 2022 Signs New Device Agreements with Leading Providers, Including Sonim Technologies Expands Relationship with NASA;
About this update from Nextnav Inc.
[{"type":"text","content":"Launches E911 Services on Verizon in FY 2022\nSigns New Device Agreements with Leading Providers, Including Sonim Technologies\nExpands Relationship with NASA; Delivering PNT Services for Agency's Urban Drone Program \nMCLEAN, Va., March 22, 2023 /PRNewswire/ -- NextNav Inc. (NASDAQ: NN) (\"NextNav\" or the \"Company\"), a leader in next generation GPS and 3D geolocation, today reported financial results for NextNav's fourth quarter and full year ended December 31, 2022.\n\n \n \n \n \n \n \n\n \nGanesh Pattabiraman, NextNav Co-founder and CEO, stated, \"We made significant progress in FY 2022 executing against our key strategic priorities, which are focused on: 1) being the leader in resilient Position, Navigation and Timing (\"PNT\"); 2) leveraging our Nestwave acquisition to significantly enhance the capabilities of our spectrum, and 3) expanding our global reach. We successfully completed the acquisition of Nestwave, now known as NextNav France, in October 2022 and expect to begin testing initial implementations of the combined technologies in the coming months. We continue to advance our work in the public safety sector with the launch of E911 services on Verizon, the first tier one carrier to launch an E911 device with our Pinnacle technology.\nWe also expanded our relationship with NASA, having recently been selected to deliver PNT services for its urban drone program at the Ames Research Center in Mountain View, California, building on their existing deployment at the Langley Research Center in Hampton, Virginia. As part of the new agreement, NASA is utilizing TerraPoiNT beacons to capture in-flight data on drone navigation, detection, and collision avoidance in support of a stronger understanding of PNT in GPS-denied environments. Initial tests in the Bay Area will leverage TerraPoiNT's existing network in the region, allowing for Beyond Visual Line of Sight testing for drones operating outside the visible range of a pilot.\nFinally, we continue to expand our global reach with the commercial launch of our Pinnacle service with MetCom in Tokyo, Japan, as they continue the national rollout of Pinnacle. Following the launch, we continue to field significant interest from additional countries and look forward to sharing updates on our progress in the coming months.\nWe are excited by our progress and believe we are well pos...