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RESTON, Va.—Christian D. Gates, Chief Financial Officer of NextNav Inc. (NASDAQ:NN), a $1.55 billion market cap company whose stock has surged 148.95% over the past year, recently sold shares of the company’s common stock valued at approximately $222,791. The transactions occurred over two days, March 17 and 18, 2025, according to a filing with the Securities and Exchange Commission.
On March 17, Gates sold 4,477 shares at $11.24 per share and 1,253 shares at a weighted average price of $11.2271. The latter transaction involved multiple sales at prices ranging from $10.98 to $11.44. The following day, March 18, Gates sold 11,808 shares at a weighted average price of $11.3692, with transactions ranging from $10.81 to $11.80, and 2,037 shares at $11.8580, with sales occurring between $11.81 and $11.91. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with strong liquidity indicated by a 7.09x current ratio.
These sales were made to satisfy tax obligations upon the vesting of previously granted restricted stock units, as part of a Rule 10b5-1 sales plan adopted by Gates in August 2024. Following these transactions, Gates retains direct ownership of 843,361 shares of NextNav Inc. Get access to 12 additional InvestingPro Tips and comprehensive analysis in the Pro Research Report for deeper insights into NextNav’s financial health and growth prospects.
In other recent news, NextNav reported its fourth-quarter 2024 earnings with revenue reaching $1.9 million, surpassing forecasts by $600,000. Despite this revenue beat, the company experienced a significant net loss of $32.3 million, heavily impacted by a $14.9 million loss related to warrant valuation. For the full year, NextNav’s revenue totaled $5.7 million, marking an increase of $1.8 million from the previous year, while the net loss amounted to $101.9 million. The company also announced a $190 million note purchase agreement to support future growth initiatives. NextNav is actively pursuing FCC (BME:FCC) spectrum licenses and advancing its 5G-based Positioning, Navigation, and Timing (PNT) technology. Additionally, the company is focusing on integrating its software with existing 5G infrastructure to reduce future capital expenditures. Despite the revenue success, investor concerns over the net loss and its implications for profitability were evident. The company’s financial strategy includes careful capital allocation, as highlighted by CFO Chris Gates.
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