NextNav Inc. (NASDAQ:NN) Q4 2022 Earnings Call Transcript

Gary Parsons: Well, is probably the quickest way, if you look at it because if the — the revenues will grow over time, and you’ll see the value as more and more countries move to this, more and more government action takes place to fund resilient PNT services and we bring on more 911 and other Pinnacle revenues, but those build over time. And obviously, clearly, if we’re able to show that we can utilize this for what is a well-known immediate need for broadband capacity, then clearly, that is probably a nearer term value enhancer if you’re able to do that, say, in the next year or something of that nature.

Timothy Horan: Great. And just maybe last for Chris or I’m not sure if you can answer it. Can you talk about the current business plan that you have, how much more funding you’ll need to kind of get to free cash flow positive? Thanks.

Chris Gates: Yeah. I think — this is Chris. I think again, that falls into the kind of the guidance category. And so again, it’s something else that we’ve been hesitant to provide. I think I’d leave it at that for now.

Ganesh Pattabiraman: Yeah. And actually, just to address one question, Tim, you raised about sort of the value. I think in the European Union’s report that came out just today there was a specific call out towards allocating spectrum for terrestrial PNT services. And so to Gary’s point, the combination of capabilities that we provide or we believe we could provide would update carrying and PNT, I think could become the template as different countries look at PNT capabilities being…

Gary Parsons: Yeah. That’s probably a pretty good point. I think in some of our prior calls, we’ve said, we’ve pointed to what the Japanese government is doing with the 5 megahertz allocated to our partner over there MetCom. And we’ve always said, and we expect other countries will look for similar approaches. But this is the first time now we’ve gotten very solid written formal evidence that the whole EU is looking at the need to have some established spectrum available for terrestrial PNT. And being candid, we’re kind of the partner of choice for people who would want to deploy such a technology and make use of that spectrum. So whether we were trying to develop it ourselves, that hasn’t been our pattern. We’ve tended to want to work with a cooperating carrier or a partner like we did in Japan.

But certainly, seeing that very overt recommendation from the EU’s report on a very important subject that heightens our view that, that could be a quicker process than normally what it takes to get spectrum allocations worldwide.

Timothy Horan: Thanks a lot guys.

Operator: Thank you. We go next now to Jamie Perez of RF Laporte.

Jaime Perez: Good day, everybody. My questions have been asked and answered. Thank you.

Gary Parsons: All right. Great, Jaime.

Operator: And Mr. Parsons, it appears we have no further questions this afternoon. I’d like to turn the conference back to you for any closing comments.