NN - Earnings call 3 2023

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Operator

Ladies and gentlemen, thank you for standing by. My name is [ Shubrao ] and I will be your conference operator today. At this time, I would like to welcome everyone to the NextNav Q3 '23 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Erica Bartsch. Please go ahead.

Erica Bartsch

welcome Third and Conference XXXX everyone, Call. afternoon, to Quarter NextNav Earnings Good call NextNav's Chief Gary NextNav's on are Participating today's Parsons, CEO; Chris Co-Founder and Chairman, Gates, Officer. NextNav Financial and Pattabiraman, Ganesh

environment IT maximize make the of These in opportunities. associated plans, please as its and include begin, growth statements GPS statements to XD competitive prepared today's beliefs. company NextNav's in that well based Before and platform objectives, are In businesses its future statements industry intentions and business forward-looking success potential next-generation the in current particular, drive we other either the to value note international potential and statements or may business expectations session. expectations geolocation presentation, and and of or its strategies, about during estimated portfolio its the growth as on thereof, NextNav's may partnerships question-and-answer remarks forward-looking our such NextNav's business spectrum, position, expansion

and obtaining services, retention, acquisition acceptance demand future any statements and projected strategies estimated forward-looking known the from marketing international the many timing uncertainties, and products expectations our and timing outside expectations anticipated mergers, and competitors, including financial capital commercial are to the objectives, such results deployment cause ability factors materially subsequent projected associated and about These to regulatory and of future geolocation plans, our acquisitions results in for and acquisitions commercial statements. anticipated losses, protect capital performance, approvals, costs partnership of property monitoring technical maintain However, prospective revenue relate size, markets, and performance services, and and market our may anticipated the are statements and and future expected ability but monitoring level our and not and relating licenses financial of LMS business our adequately our realize of plans other to risks, and projections functionality rights to location or position, services, growth NextNav's technology, limited intellectual licenses factors, opportunities additional or and of services, our operations, level of discussed me, acceptance market which are actual differ transactions, resources as business or other of that forward-looking and assumptions to, regarding could important our benefits, similar service unknown control subject property our location obtain services, to ability expenditures of excuse pricing, our -- to including necessary. the to, key

obligation or be may result date future reflect were events Accordingly, retaining they otherwise, raise financial or costs and our and employees and/or the any sufficient of date, or listing NASDAQ, subsequent ability to as develop being as except required of of to key revise should Our we the recruiting on related and litigation the to maintain proceedings under securities for capital controls, of and our effects cash be not a to applicable macroeconomic directors, our unknown and and adequate internal plans our known generate on not and as regulatory do upon expansion their public views to factors outcome company, opportunities, the operations ability success any or after representing information, foregoing. maintain securities development to research forward-looking in and flows, whether undertake or our additional relating our including assumptions any forward-looking new statements update effective circumstances as a operational made, well ability laws. relied resources, any events maintain as or statements to officers,

live prepared question-and-answer will company Following the operator an host remarks, our session.

replay of to a Please In the today's addition, Chairman, turn ahead. NextNav's of call Investor will go I'll website. Gary our at be that, the posted company's over With to discussion call, Parsons. Relations the conclusion

Gary Parsons

Thanks very good to much, and Erica, call. afternoon, quarter everyone. NextNav Welcome third

As with overall and President detail Ganesh and and NextNav's is on spectrum a on will need Chris public with our X-dimensional today's vulnerabilities like and Co-Founder Pattabiraman, GPS activities, our Executive EXXX more Erica or and on Officer. critical efforts. quarter and both PNT Vice GPS significant consensus ongoing with the continued CEO growing on provide NextNav's GPS traction mentioned, on a call Gates, Chief front, infrastructure. pleased past Ganesh and and initiatives, strategic to and on This safety progress perspective, key front individual number joining resiliency frankly an agency of me saw Financial but protect the the geolocation I'm government safety contracts true for government the from of both resiliency efforts, the public

navigation number States A area. as the NextNav growing around in well resilient we deployment phases. as position, in to initial this expand in future get these and more is the to section. world. leadership his PNT or And see in will initiatives acknowledged are expanded in here both either leader lead of Chris GPS position demonstration or or expected opportunities detail that programs that timing that United the implementations to into

these non-disclosure security as prior to to contracting share those try but in this at national specifics the with the much all can Additionally, issues, responsibilities. as we of confidential will including we agencies, of consistent we've programs, shared remain as due stage quarters, some insight

budgeting securing support growing support resilient critical substantial advance initiatives. layer continuing worth reiterating the providing nation's GPS. overall of executive with purely it political there and will several that government's agencies federal in probably either leading and process, a of is RFPs federal standpoint, continues is funding these As to of the partnerships, in XXXXX detail, discuss the involve research the a RFIs current universities, order From responding team for infrastructure exist a bipartisan opportunities clear or state to finalization. for and with to more even the Regardless these uncertainty or in

through this go we from revenue sector XXXX. as substantial expect We growth

Next, we deploy and on of Area. call, spectrum and a on network last front, XG FCC quarter's TerraPoiNT we design Bay an disclosed license announced would you experimental in the the remember the granting that

We numerous testing have Alto, of XG network a and power a and formal levels now program. deployed fact, begun carrier bandwidth in Palo now, California, in have capable

testing expect validate We those reliable signal significant to simultaneously using results our throughput. the while using waveform, data ability resilient that capabilities, will and for PNT provide geolocation the XG highly XG XD

to that progress that, our end towards on expect turn and more We these to with which and over And both this to for and key quarter we safety be expect efforts, with me recent year, TerraPoiNT let largely configurations. Ganesh? license operational performance SEC Ganesh depth program strategic Overall, the ahead go Pinnacle and commercial the service our appropriate public of to complete to by government awards using priorities. the on would solid of contract it into waivers provide go a with following file testing services.

Ganesh Pattabiraman

XD in our ION participated TerraPoiNT September, Thanks, everyone. PNT of seeing Gary, It's government of we're hybrid growing timing and agencies quarter, out positioning LTE in operators. and or capabilities, partners Conference cellular Navigation resilience and importance. good Institute federal Notably, from solutions where demonstrated leveraging as afternoon, and state signals Denver productive the grows at the momentum we we been key tied to another systems in for and need

key of time Transportation milestones, from Security the and Department discussion marketplace. conference, action While establishment were Department At with this phase. government able services reinforced and Homeland from Transportation, Department announced government partners of of or the plan other towards productive of tangible officials now to meet PNT conference, complementary and belief that Energy same moving of actively held conversations. Department we the out The PNT at very action clearinghouse the This a plan. lays its the and PNT our is lines

that both and complementary and the be against. timing can clearinghouse for to process, of GPS and a of designated of a X beginning initial available systems in months that XXXX. will seamless in to may we see users part in systems with their the be systems-based is to As providers procure and DOT federal systems of in federal find issuing systems; framework, technologies TerraPoiNT function in order like this framework vetted federal PNT A TNT to help establish to plans to example like integrated infrastructure ensure in executive manner. could critical complementary critical very to operation the for pre-vetted the PNT NextNav, infrastructure RFPs operators. GPS equipment. clear a core implementations This providers part systems PNT in the conjunction made today. to several in establish The of telecommunication the XXXXX This PNT where of see needs operate a this infrastructure and different DOT is resilient services government agencies we a and of GNSS with as also procure sponsor the place compliance is that for good coming qualified Brazilian be to similar advance complementary list be This list is operator acquisitions to would

on and to not are we intent various in federal across affect essence, investor for implementations infrastructure captured These time that the commercial in the adoption use government pave the will our infrastructure sectors. but X. XXXX, funded critical also what only In slide XXXX our operators part critical frameworks eventually wider Here, and way deck is broader the see too. initial entities, acquisitions, early of cases lines in and

As and many resilience. agencies towards to take begin building federal we to we're state last quarter, PNT noted steps see starting proactive

that the their in happy government we support part that contract As federal signed report of I'm PNT a to to strategy. strategy, recently

to characterization can't initially due represent expect sensitive completion likely we successful of expand that provide largest leverage infrastructure would this in we to While work, contract the capabilities upon nationwide, existing select nature specifics and say country. to the of our phase, we to And persistent will project our the the date. PNT this speak markets our around the contract our can of to

PNT state many order some are of federally taking of enablement federal beds for anticipation test around steps procurement and using in critical addition, implementation commercial and and In systems, executive funded commercial in plans XXXXX. language resilient infrastructure agencies towards cases, providers

and For Department and mobile research land as smart multiple timing grants Homeland radio have Department part as agencies respectively. as instance, for by local systems Ohio, we state Texas partnership in of as with automotive submitted Security, and cybersecurity of Transportation as diverse with in sponsored with of cases universities proposals and use areas well

status the notified be impact of see I within coming the released current months is in in We XXXXX. from the over XXXX. of support expect we process these smoothly will that many We including to XXXX. add the and the anticipate strategy the of implementing and here complementary executive PNT first release half of of procurement going although the of Congress, opportunities be language do of the departments order in QX a this agencies, in short-term stalemate must now order of

we issued impacting the overall or line currently to time XXXX. that XXXX However, in the don't either grants implementation be see

now flip-phone the with country. the one Pinnacle the in domain. Turning is This we to of our to an first Notably, or our MVNOs device carrier. cellular, announced we agreement sold will continue this see with and mobile recently on safety largest public ongoing virtual consumer technology, network progress EXXX in Iris be the which operators

with we Beyond the to expand device Pinnacle portfolio, months. coming devices integration models double-digit and in this to agreement, of on reach expect is continuing Verizon services its their across them

top wireless X arrangements, the these country, on be nationwide to X the contracted we now carriers With including are carriers. across

device we before, carrier. a have As bringing agreements different and device. specific on or forward, we public shared just Either technology in all have level portfolio leadership forward that us integration In their our the devices. we devices to through models the for have for cases, model a specific and look carrier safety licensing way, we at domains. some within as operate each adoption relationships in we we the Pinnacle depending of of life EXXX for to clear additional And these put position move business more

the released leads as Communication Ministry governments government moving similar and through public Affairs of forward initial or we front, In and in seeing the around this to its part And opportunity In legislation number Commission see U.S. to be very for government We on expect PNT ICC Ministry Japan, economic call likely EU roster as on and beds, government PNT Information we across traction. energized the a the fact. to to Information states going spectrum, U.S. now the a With partnerships of a as real of Japanese a security areas importance European Council be gains actions area, the the I'll is which Chris? included a the critical process. technology. from On with moving In by plan this recently the phase British a phase. Internal a resilience an test or globally Communications PNT to activities that, the Communication by a policy well. is and of international we're growing is we and foreign and recommendation of consultation the the comment agreements with believe PNT with feel critical and all, resilience. have as Chris. Europe, before followed U.K., EU of testament technology to leader in turn the period over a This to framework

Christian Gates

for us you for Ganesh, quarter good call. earnings third our everyone. Thanks, afternoon, joining and Thank

of revenue versus important third licenses technology made are services $XXX,XXX. underway resiliency Year-to-date, quarter to starting increased offset integration driven recurring services our to utilization third the in due million customers. period, decreased increase our $XXX,XXX in both prior decreased As year the to year XX% $X.X contracts and with up technology by and the Sequentially, progress With from to results was quarter an respect commercial period, commercial revenue with revenue to in government. and PNT to from in contracts Ganesh by increase partially in customers. revenue, from programs an recurring Gary service we revenue expand million to primarily see our the the the prior $X.X revenue federal results, compared spectrum efforts financial in highlighted, and tangible XXX%

the higher amortization. the Our operating by much in million, period of down last lower same year, depreciation were to $XX.X $XX.X million stock-based compensation from due with partially expenses difference and offset expense,

in and amortization, $XX.X from the and with XXXX. operating were in compensation year, the million prior $XX of quarter Year-to-date, the stock-based in driven reduction expenses the and Excluding $XX.X million, period million same drivers. second $XX.X expenses were prior million $XX.X to million operating by depreciation the down compared

Excluding flat and and current the compensation the year. million expenses essentially $XX.X depreciation and in stock-based year-to-date amortization, were operating $XX.X at million in prior period

the in $X $X.X in of warrant million of $X.X loss quarter liability of to million $XX.X to drivers expense prior the net Third was value a prior period. loss net change $XX.X $XX.X net net of a for as compared million increase prior The million primary $X.X in year. and a of the year. value the compared loss a in of were change of compared income the million million the was fair Year-to-date, in and interest million warrant interest fair loss liability of to million $XX.X our year

million a loss of net the balance in we value our fair and of $XX interest the of that net of change primary warrant the investments. we associated again, Here, notes, with liability warrant million secured income strike finished our cash, $X.X were interest million amount million in and of fair and exercise. $XXX,XXX associated that year. liability expense equivalents change with $X.X a senior our of $X.X million warrant cash to additional of drivers value with price of I and prior on previously $XX.X in compared the $XX.X short-term included the Touching Also note in million sheet, is the quarter in covered gain

only Whether otherwise, are source issued and liquidity current you financing called the exercisable we as in did debt provide our they these additional as recall, warrants of warrants of As may partially part the callable in may beginning XXXX. exercised quarter. cash for a or

I'd our state of also the in value closely by the to into activities service. base like we Ganesh. and insight stated as on highlighted customers manage and we bring into some continue and federal assets cost to And new revenue additional the process provide Gary build side we've past, our As and refine government and

contracted, in of through by broader order discussed than an with geographic markets of contract $X.X an encompass the and year. be to largest is covering would limited of in greater approach potential contract If could first XXXX, The approximately magnitude initial number second single million expected a to starting implementation to initial quarter phase. this is be it the metropolitan Ganesh fourth phase a with date, the the our phase area

previously. and in and remains as and highlighted additional federal these Ganesh partnership grant different state adoption, with federal PNT programs Under are the stages complementary pursuing we of in use for XXXX. While in PNT earliest of entities, state implementation we programs begin or of applications our complementary will support cases, services

expect values thousands We a over geographic areas and grant the millions longer or phase for will set broader grant service substantially contract hundreds contract durations XXXX with between X starting from years. in to or for foundation durations, XXXX. to X this late per and This amounts in low larger provision range of

as at Finally, in beginning clearinghouse, highlighted, federal, XXXX resilient to broader-based in which into questions. should DOT's call back we PNT the critical and incorporation that, integration of PNT the for and level state procurement infrastructure in beyond. hand And streamlined complementary capabilities the result across operator our anticipate of services Ganesh I'll our you. sectors XXXX over Thank and federal with

Operator

[Operator Our line of comes question with your Griffin line Securities. from Instructions] open. Boss B.Riley first Griffin, is the

Griffin Boss

know you give the to but So would requisite appropriate confidence the you're what's data the testing I with the just the hope end and can what a testing -- the of to of finish into first, gather then? where at testing collecting bit level color by push by you for data your process happen XXXX? regards this said would on FCC? could Or what year, guess, the that you little I you more can that

Gary Parsons

we the FCC. we'll announce. include we'll make we -- announce Griffin. essentially when results that the of prematurely that the with obviously, won't I testing, filings question, mean that with the the for Thanks of results

and know Alto I the very your actually you literally when planning ability from we and we able least with. be I at that quite X- it, purposes were about in a the to I'm our operators -- process, pleased that, how very place mean, the with networks guys public that's -- experimental that. then also, for in requested from it approval around been have the Palo do to equipment over XG we design procure networks. area I'm when own changes for It's telecom quickly So the turning there we'll up X-month and pleased or get FCC secure would license, of frankly, both

So, has the actually going of testing. used you'll testing itself downlink end be to be which supplemental say, the band, interference believe different as, including in the a you've do experimental our X-megahertz lower configuration can That power number the our see a levels we're middle power as and to at X that up, network of upper levels. we've if the including can be that could and -- of contiguous, about before, or without undue we only of turned approvals as band higher we're we're the well still and process creating that FCC, testing from different as end band, for reviewed power you talked license existing authorized the our at we we'll configurations, looking levels neighbors.

of combination a So, programs. good it is pretty testing

duty where why If from us to with else we cycles, to won't that, stands pleased could trickle we So, pace, do. what by that to power be, it going that bit the pretty a whatever than I testing then it's at do want make necessary said, complete largely on hoping it's that more the now. the over on complete, end the may filings see of results good of I it -- to we're levels, right with the that's comment FCC. Again, and change and until cause year; it don't a we're results I that's want little but

Griffin Boss

Yes. Sure.

Okay. That makes sense.

time -- like working you take so, the would in are Or you those And -- you file is to FCC some expect order there in let's it to filings complete going -- a of Are would you concurrently? be immediately? say, to delay, on with the whenever testing, those terms

Gary Parsons

Let's see.

depend we are some would the the we expect basis As working as what are finalization configured we those on that immediately can imagine, the of to as filings already, you what testing. parallel is of doing request on actual we results on it so a would best we is and would of how file, possible. going like is Clearly, but to

depending be So, a to people beyond how we wait that notice into require to do I us required. rulemaking some some waiver that the the of waiver. major before it's those the of we actually a in and But about proposed the not to get think but might completion we be. waiver we bureau too and FCC able to rulemaking, doing that through petitions put a The also for the longer have that something upon much of will have, take of may talked request place not know at thing, likely have changes have to I be finalize licensed final lift extensive a candidly, level before and may that, some to looking through process. testing to also going of it's think we're done be well be may would

I of would completion. don't I think, and request to, happen those testing now, multiple months fast I after but the pretty the hard example, give it a not following So right writing firm for are quickly you think an FCC answer things can and testing, up

Griffin Boss

it. Got

were Okay. be surprises any milestones or shifting whether you that action Understood. you gears, just guess then that that'd I timing would with And DOT's general the Was consistent there what so plan to plan. nice see have outline? expected? with it it's saw, of

Gary Parsons

Ganesh, take want do you to that?

Ganesh Pattabiraman

approval I months. think broader released, we take they lines, call, [indiscernible] through the regular XX-XX in, had the can the think, could go of take the I stab that. would sort we Yes, guidelines previous did expect at I No, think once I the in and a federal described time process implementation which

the And line so, does it frame. XXXX-time with up

was that there. So, of a surprise I think don't much

is industry happy see actually that XXXX-time resilient tests or and in solutions encouraging the frame. to adopt the PNT were to we DOT do implementing think I

So, go framework. adoption when for with. this a clearinghouse then once expeditious more guidelines certainly I the broadly the baselines that are was, because some think, And it and creates implementation have to process the of adopted, positive you you're framework part more a addition to concept is wider of

it weren't wasn't the but think much that a positive. time -- I overall, plan features it part lines certainly, the too these wasn't of So, -- additional of added surprise, of they implementation were as some

Griffin Boss

it. appreciate the Ganesh, queue. back in I'll Understood. jump

Operator

the of final comes Timothy Your question from line Horan with Oppenheim.

Timothy Horan

It looking sounds like anyone a maybe it-- just be progress. are and you that responders Are would you're they talk ultimately Or type here? government's first goal nationwide? can looking of looking create it do? that think system making a just ultimate free they lot to to you the GPS to Could fund, what's about like government users they're use? they and do is use? just What Or for that's

Gary Parsons

way, GPS they don't he I'll And consumers Ganesh own very business hasn't that terrestrial GPS things for for in don't I location looking of nature. and the would one that by But to part certainly would that that is for they mean, critical free, an okay? timing been for secondary it I fly and a a that I they're in. involved get provide and provide, think they just constellations other by that past. infrastructure the used example, own because very, their into and intimately think satellite overarching of essentially [indiscernible] is let provide they on they're that's

the can everything resilient-enough eventually, possibly do they the system to make to process, if that to for they continue that GPS responsible it And it on government but and they industry services of in happen. overall that want that one I to to to it adopted critical were key make by they users to a for do requiring can them their have of to think critical start to wedges people have want is infrastructure having achieve initial to that would are bidding hold infrastructure prove have to users government order be they they that that, be that the do that problems, able encourage it, technologies that to to perform.

comes where say government, I us terrestrial a up they situation contract never to when but I So, PNT with envision the never the it to don't system. stand

I about that's networks back ago recognize better the service they used sometimes years different and eLORAN, were different the that capability. principally provide technologies a a of by We do LORAN the that DOT there or couple testing showed, old are think places talk doesn't out or great areas, out for with but satellites And beacons oceans, same the the suburban or for great That's deep thing we and the Mariners, rural mean over some even more I system. areas inside there. TELUS get have don't like it building.

in I the would the I build understand don't large, think think government it complementary terrestrial that own cards. [indiscernible] provide deployment to DOT capability, and the So, their that's of require testing a of a PNT them and for a variety different out, technologies

funding they I of they start Ganesh can pilots to out kick and doing, those here, ones, in I think talking they're sandboxes certain may maybe the or initial some build --they trials think deployments. be that and about will

Ganesh Pattabiraman

Yes.

a there GPS and doesn't the Tim, into don't system to government perfect I And I So, fit point going different answer be one appetite Gary phone another bad urban up I stand won't Gary but that your an fits at point it's mentioned, in applications of because not back up areas a applications, to is isn't are that a think going for mean, somewhat that would we're in I as cell there's well. types that failure recognition needs, off, right? where I certainly And and simply eLORAN perspective have unique. think the from one think another really was growing -- work of maritime to different ocean choice. to and system as think, also as there's I think GPS mentioned, there from

federal of government multiple I what wants providing think think entire from electrical And recognize from the trying the other adopt is be for is purchaser now So, of jamming clear the Israel-Hamas they're resilient the PNT right now to they enterprise. technologies they or Transportation. GPS around by it be government systems across not a to large the that it's sectors, ultimately, the Ukraine to feature PNT grid was cetera, because these around is board. being that across that conflict this have a types can customer first critical the part -- the standard resilience, wireless from government and The the providers, do also I not recommendation resilient very and specific world, happening of want the operators, that first what's of really these board. systems government Department hope the et does systems suppliers, situation, And et so, cetera, it's across PNT encourage adopter, infrastructure is the

think saw it and at Xth seen activities that. we of more continuously beginning I October around we've the

the sources order, phase also. or do the GPS will the it government the that, at XX to infrastructure be. focus provides. grids is absence the the end-user really initial the directly they placed, will more the is months infrastructure what some now implementation XX so, to in it is adopted critical it. to also they the at every and these then the and through infrastructure been into there, or And order adopt of application, others hope that's phase critical adoption the fund test beds to made going into and once the phone more being a through electrical executive gets various the it difficult it the is through a And where the see maybe already from phase or want mass XXXXX important wider they market a ultimate to in And of use those mobile hope that's And both that federal for urgency free across vendors there's that in automotive telecom the when be to have more place an is case spread applications government willing is funding, has the the that commercial system trial an extent, because and executive end that to thing come And in make or to implementations, bill of level beyond recognize where and sectors. available systems. funding it the And next industry system resilient a systems to the aviation enterprise implemented get

where used recognition and these faster and is programs skids I into is some quicker grant that of a place, So, they're adoptions. being the is and that enable facilitate there come of to grease think to

Timothy Horan

you X, of let's receive really say, mean the much be from do out? can is annually So built I goes everything well, money how a the government years think? as large in really, this you could government, Or how X customer

Ganesh Pattabiraman

federal the users, source we're take start it's mean as if folks, this in the touches across can we position all current government -- be if of just would our elements â€“ us. magnitude nominal In you be right the that but And grows with Chris have or for XXXX already be required to seeing services, that grow months, could from we would that relatively now. initial large and and amount I where our the health revenue dominating of a timing obviously mean phase, all navigation, largest right to XX to systems FAA very I that's signed. mean say operators, for have in. of mean that contract getting but certainly can to more the the or can procuring -- then critical that of the need a that the intention infrastructure I those they matter either contract I it services broadly phase think grid mean second human emergency electrical just enterprise, telecom a order into providers, with want clear I the it that's be resiliency. kicks not this we I to phase, seeing for

Timothy Horan

it. Got

for And usage it? sorry, thinking network the the on The you spectrum best this and any updated charge sell I build you of Or out it yourself does sense just -- technology, highest -- do on last and make question. use to think mean, would

Gary Parsons

other I'm there player too that one because upon with but if on just always speculate configurations, another. at it, that one, caveat that own And the X-way supplemental we you desirable is partners. I who downlink mentioned reluctant be get and this to may widely a also, are which more is it up it My I may take versus as go different I'll point, ahead you're have one. very depending to guess guess a the to potential it important opens always able out. and capabilities, hate being partner wouldn't is build

I if most either a contracted something use to but efficient we or way it's there's It's don't another like be carriers, looking would would not I that because building for the leasing build the have favorably create may it think essential particularly that best going was spectrum we -- of to lease. see PNT EXXX because full we be government scenarios at that service. providing now more for an it one would for a don't think lease will an that. would upfront and would the to likely be that couldn't want would that carrier whereby do us mean, national be even think are But responsible the envision That far it's the a that, them security you any that the part we very enough, don't as because services of trying I do major We for nationwide with out. or there's you obviously the the dealing and payment party do. what done. chance very providing think onetime will them why wants still right that's I it. ourselves to of multiyear function be we out, we critical government without it way see I was

Timothy Horan

easy carrier they lot Do aggregation to to seem of doing infrastructure? would a and have more carrier it sense mean so-- for you lot a be existing on a be a how their to more this I add

Gary Parsons

Well, and uplink. more even supplemental or a of a [indiscernible] either supplemental downlink I absolutely. a your more lot is is existing It implementation. likely absolutely mentioned can be spectrum rollout being of a aggregation to into, at is to And the carrier The key other with plan. today. have incorporated easily configurations levels carrier's bearing create And an able we direct able how existing we're will it say that done what power are what on create

as there's if won't can carrier, granular say more to exactly on a it Likely value point data able network we yes, off. at So opine FCC, time. be with spectrum into we'll undeniable you'll a far are we on today. much an when XG probably we pull visibility greater might the configuration not what and paired I in be filings think think there, what things mean, this in spectrum but utilized other we But I a get do what make it with probably that our

Timothy Horan

it. That's really, helpful. Got really Yes.

Operator

time, further the over I to this no are Gary. there questions. like At turn call back would to

Gary Parsons

highest thank appreciate expand hopefully, I we Well, potential our off very assets global their and to dialing develop on to and in position our kick priorities X best XD you to leadership you solidify much, reach. in and fully spectrum calls our to And here and resiliency PNT use commercial our today. certainly that know strategic Geolocation normally operator. And saying, see we -- everybody these "Hey,

well, of file significant progress testing and you'll front on this are to today's the I those think, with program far all we on made we and more hopefully, that too. our call, see able quarter, see FCC, of hopefully, out complete progress as once you'll

participation our we forward to today, you to end So speaking year again, thanks, on everybody, and of look for call. again your

Operator

you, concludes today's and That ladies Thank conference. gentlemen.

disconnect. now may You

NextNav (NN) 8 Nov 232023 Q3 Earnings call transcript