All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
2 warning events since 2021; the latest 2021-10-29.
From the record
NextNav Inc.'s filings since 2021 show 2 warning events: an auditor change (8-K item 4.01, 2 times, the latest 2021-10-29) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+51.7% a year over 6 filed years; profitable in 0 of 3.
From the record
NextNav Inc.'s 6 filed years say what it did: revenue went from $569 thousand in fiscal 2020 to $5 million in fiscal 2025, up 51.7% a year; it rose in 3 of 5 years; the deepest fall was 19% from fiscal 2024 to fiscal 2025; net income was positive in 0 of 3 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 2.8/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: NextNav Inc.'s shareholder treatment is put at 2.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 28% of 9 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
Leverage 135%: owes 135¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, NextNav Inc.'s shareholders' equity was below zero, so the profit on it is not read. Leverage: it owed about 135 cents per dollar of assets, and net share issuance: its share count grew 9.4% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 17% of 9 in its family.
From the record
NextNav Inc.'s standing among 9 graded names in its industry family: revenue of $5 million in fiscal 2025 ranks in the bottom 6% by size; revenue growth of 5.2% a year over the last 3 filed years ranks in the bottom 28% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 33% of 8 in its family for leadership; chief executive since 2023.
From the record
NextNav Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Sorond, Mariam (CEO, President and Director, as filed), filing under that title since 2023-12-01, 3 years (top 50% of its family); the 15 officers and directors filing in the last fifteen months have been on the record a median of 2.5 years (bottom 21%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 15 people in charge now (bottom 28%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
bottom 35% of 8 in its family for room to expand.
From the record
NextNav Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $45 million against debt of $274 million leaves -92.6% of its assets as net cash, bottom 6% of its family; cash from operations less capital spending is -1110.8% of revenue (bottom 6%); research spending of 414.4% of revenue (top 7%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 17% of 9 in its family for growth drivers.
From the record
NextNav Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 5.2% a year over the last three filed years against 51.7% over all 6, slowing (bottom 6% of its family); the newest year grew -19.3% (bottom 6%); research spending grew 3.6% a year (top 50%); capital spending grew -74.3% a year (bottom 6%) (its annual reports). NextNav Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
SI estimate 2.8/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: NextNav Inc.'s expectations vs reality is put at 2.8 of 10 with a confidence of 35 of 100, because read from one part only, revenue against the prior three years' pace, which ranks in the bottom 28% of 9 in its family; the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change. A filing that carries the missing parts replaces this estimate with the filed reading.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made