NextNav Inc.

Welcome everyone to the next MADS Q3 23 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Erica Barsh. Please go ahead.

Good afternoon, everyone, and welcome to NextNAS third quarter 2023 earnings conference call. Participating on today's call are Gary Parsons, NextNAS chairman, Ganesh Pataviraman, NextNAS co-founder and CEO, and Chris Gates, NextNAS chief financial officer. Before we begin, please note that during today's presentation, The company may make forward-looking statements either in our prepared remarks or in the associated question and answer session. In particular, such forward-looking statements may include statements about NextNav's business plans, objectives, expectations, and intentions to drive growth in its 3D geolocation businesses and expansion of its next-generation GPS platform to maximize the value of its IP portfolio and spectrum, its international business, as well as NextNAS partnerships and the potential success thereof, NextNAS estimated and future business strategies, competitive position, industry environment, and other potential growth opportunities. These statements are based on current expectations or beliefs. However, such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside NextNAS control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These statements may relate to, but are not limited to, expectations regarding our strategies and future financial performance, including future business plans or objectives, expected functionality of our geolocation services, anticipated timing and level of deployment of our services, anticipated demand and acceptance of our services, perspective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, commercial partnership acquisition and retention, products and services, pricing, marketing plans, our ability to realize the anticipated technical and business benefits, associated acquisitions, and any subsequent mergers, acquisitions, or other similar transactions, factors relating to our future operations, projected capital resources and financial positions, estimated revenue and losses, projected costs and capital expenditures, and expectations about international markets, projections of market growth and size, including the level of market acceptance for our services, our ability to adequately protect key intellectual property rights or property technology, our ability to maintain our location and monitoring service licenses, and obtain additional LMS licenses as necessary. our ability to maintain adequate operational financial resources, including for research and development, or raise additional capital or generate sufficient cash flows, our ability to develop and maintain effective internal controls, our success in recruiting and or retaining officers, key employees or directors, expansion plans and opportunities, costs related to being a public company, our ability to maintain the listing of our securities on NASDAQ, macroeconomic factors and their effects on our operations, and the outcome of any known and unknown litigation and regulatory proceedings, as well as assumptions relating to the foregoing. Accordingly, forward-looking statements should not be relied upon as representing our views of any subsequent date, and we do not undertake any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise. except as may be required under applicable securities laws. Following our prepared remarks, the company will host an operator-led question and answer session. In addition, at the conclusion of today's call, a replay of our discussion will be posted to the company's investor relations website. With that, I'll turn the call over to NextNet Chairman Gary Parsons. Please go ahead.

Thanks very much, Erica, and good afternoon, everyone. Welcome to NextNet's three-quarter call. As Erica mentioned, joining me on today's call is Ganesh Pataparaman, NextNav's co-founder and CEO, and Chris Gates, NextNav's Executive Vice President and Chief Financial Officer. This past quarter saw significant progress on a number of our key initiatives, both on the spectrum front and with continued public safety and GPS resiliency efforts. You know, Ganesh will provide more detail on, like, individual contracts and government agency activities. But from an overall strategic perspective, I'm frankly pleased with the ongoing traction of our government and public safety efforts, both on the E911, you know, three-dimensional geolocation front, and with the growing consensus on GPS vulnerabilities and the true need for PNT or GPS resiliency to protect critical infrastructure. Next NAVA is the acknowledged leader in this area. And we see growing opportunities to expand that leadership position, both here in the United States as well as around the world. A number of these resilient GPS or position navigation and timing P&T initiatives are either demonstration programs or initial implementations that are expected to lead to expanded deployment in future phases. Chris will get into that in more detail in his section. Additionally, as we've shared in prior quarters, the specifics of some of these programs, including the contracting agencies, all remain confidential at this stage due to national security issues. But we will try to share as much insight as we can consistent with those nondisclosure responsibilities. As the team will discuss in more detail, several of these opportunities involve partnerships. either with state and federal agencies or leading research universities responding to RFPs or RFIs in advance of Executive Order 13905 finalization. From a purely political standpoint, it probably is worth reiterating the substantial bipartisan support that continues to exist for the securing the nation's critical infrastructure and providing a resilient layer to GPS. Regardless of the continuing uncertainty in the federal government, you know, overall budgeting process, there is clear support for current and even growing funding for these initiatives. We expect substantial revenue growth from this sector as we go through 2024. Next, on the spectrum front, on last quarter's call, you remember we announced the grabbing of an STC experimental license. and disclosed that we would design and deploy a 5G TerraPoint network in the Bay Area. We have now, in fact, now deployed a network in Palo Alto, California, capable of numerous 5G carrier bandwidth, power levels, and have begun a formal testing program. We expect that those testing results will validate our ability to provide highly reliable 3D geolocation and resilient P&T capabilities using a 5G waveform while simultaneously using the 5G signal for significant data throughput. We expect that testing program to be largely complete by the end of this year, following which we would expect to file for appropriate license waivers with the FCC to provide commercial service using these configurations. Overall, a solid quarter of progress towards our key strategic priorities. And with that, let me go ahead and turn it over to Ganesh to go into more depth on the recent contract awards and our operational performance on government and public safety efforts, both with Pinnacle and TerraPoint services.