NextNav Inc. — Earnings Quality Grade F
NN · Technology
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 187 days, change -25 days YoY
AR growth -28.9% vs revenue growth -19.3%
Revenue -19.3%, CFFO -33.5%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -40.2% vs revenue -19.3%. Normal
SG&A/Gross Profit = -997.3%, excellent (<30%)
Gross margin -86.7%, change +3.4pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-0.1B)
Accruals ratio = -56.1%. Low accruals
Cash $0.2B covers 53% of debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.1B = -71% of equity. Manageable
Debt/EBITDA = -4.6x. Healthy
Other assets -88.0% vs revenue -19.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles surged 131% YoY
Manipulation Score
M-Score = -6.08 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25