| Market Capitalization (Millions $) |
2,226 |
| Shares
Outstanding (Millions) |
142 |
| Employees |
103 |
| Revenues (TTM) (Millions $) |
4 |
| Net Income (TTM) (Millions $) |
-112 |
| Cash Flow (TTM) (Millions $) |
-28 |
| Capital Exp. (TTM) (Millions $) |
0 |
Business Description
We are the world leader in next-generation positioning, navigation, and timing technologies that transcend the constraints of the present space-based global positioning system. According to a NextNav extrapolation of our data from a National Institute of Standards and Technology ("NIST") sponsored research done by RTI International ("RTI"), the impact of GPS on the US economy is approaching $1 trillion per year. Because of the growing reliance on PNT in many aspects of the global economy, the world demands more precise and resilient PNT capabilities. Higher performance will continue to broaden the scope and value of PNT systems, while resilience is required to safeguard the huge economic activity that relies on GPS. We are aiming for a larger worldwide addressable market.
We currently deliver differentiated PNT solutions through our network-based Pinnacle and TerraPoiNT solutions. Our Pinnacle system provides 'floor-level' altitude service to any device with a barometric pressure sensor, including most off-the-shelf Android and iOS smartphones. This service enables full 3D location at national scale for the first time. Public safety, autonomous vehicles, electric vertical takeoff and landing vehicles ('eVTOLs'), unmanned aerial vehicles ('UAVs'), and the app economy all require precise 3D location solutions. Paramedics need to know which apartment a 911 call originated from, ride hailing and delivery apps need to know precisely where a customer is standing and game developers need precise 3D location data to deliver next generation augmented reality experiences.
Our TerraPoiNT system is a terrestrial-based, encrypted network designed to overcome the limitations inherent in the space-based nature of GPS, namely a faint, unencrypted signal, which is often unavailable indoors, distorted in urban areas and vulnerable to both jamming and spoofing. TerraPoiNT overcomes these limitations through a network of specialized wide area location transmitters that broadcast an encrypted PNT signal on our licensed 900 MHz spectrum with a signal that is 100,000 times stronger than GPS. Unlike GPS, the TerraPoiNT signal can be reliably received indoors and in urban areas, is difficult to jam, and is difficult to spoof. Further, the TerraPoiNT signal embeds Pinnacle information to provide a full 3D solution. In addition, TerraPoiNT provides redundancy for GPS, which is essential due to the economy's reliance on GPS for location and precision timing. GPS redundancy is increasingly a U.S. national security priority, and is rising in priority in the European Union, non-EU countries in Eastern Europe and in other parts of the world due to both the demonstrated vulnerability and lack of local control of space-based signals and systems, highlighted by recent events in the Ukraine. Critical infrastructure, including communications networks and power grids, require a reliable GPS signal for accurate timing. A failure of GPS could be catastrophic, and there is no comprehensive, terrestrial backup that is widely deployed today. TerraPoiNT received the highest scores in testing by the U.S. Department of Transportation reported in 2021 regarding potential PNT backup solutions, in each category tested.
Our location systems have been engineered and deployed to provide comprehensive solutions to the limitations and vulnerabilities inherent in GPS-based services. Key GPS limitations include:
Low signal strength resulting in poor building/indoor penetration, limitations in urban areas;
Vulnerability to jamming;
Poor vertical accuracy in most devices, which impacts any service where altitude is relevant (e.g., multi-level structures, vertical separation in low-altitude aviation);
The primary consumer GPS signal is unencrypted, resulting in poor location security and spoofing;
Inherent physical vulnerability due to few, isolated transmitters; and
Single point of failure for a wide range of PNT services.
Isolated solutions to various aspects of the limitations to GPS-based positioning have been deployed, but none carry the primary benefit of GPS, which is high performance across a wide area.
Our current service platforms include Pinnacle, our altitude (z-axis) solution, and TerraPoiNT, which is similar to a terrestrial GPS constellation. Both systems offer metro-wide service, are inherently secure and can provide universal service access to all types of appropriately-equipped devices that use location services.
Pinnacle
Pinnacle is our z-axis service, a dedicated vertical positioning network to cover entire metropolitan areas. Pinnacle provides devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service available in the U.S. market today based on a CTIA/FCC '911 Location Test Bed, LLC Report on Stage Z' from 2018. Our service is now available in the top 105 major U.S. markets, which include over 4,400 cities and over 90% of commercial buildings that exceed three stories.
The Pinnacle service is based three primary components:
An altitude station network, a managed network that consists of equipment designed, manufactured, deployed and operated by us, which measures key environmental variables associated with altitude to enable 'floor level' altitude determination;
Device software, which supports delivery of our z-axis service to mobile apps and other devices, calibration of the pressure sensors on individual devices and receipt of z-axis data from our cloud services platform; and
A secure cloud services platform, which actively manages our altitude station network, synthesizes data from our network and devices to enable service delivery, and performs access management functions.
Company Address: 11911 Freedom Dr. Reston 20190 VA
Company Phone Number: 775-0982 Stock Exchange / Ticker: NASDAQ NN
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