NextNav Inc. (NASDAQ: NN) shares tumbled 6.68% in pre-market trading on Friday following the release of its first-quarter 2025 financial results, which fell short of analyst expectations. The positioning and navigation technology company reported wider losses and lower revenue than anticipated, sparking investor concerns about its financial performance.

For Q1 2025, NextNav posted a net loss of $58.579 million, or $(0.45) per share, significantly missing the analyst consensus estimate of $(0.14) per share. This represents a substantial increase in losses compared to the same period last year when the company reported a loss of $(0.28) per share. Revenue for the quarter came in at $1.539 million, falling short of the projected $1.87 million and representing a 17.59% miss despite a 47.13% year-over-year increase.

The company's operating loss widened to $17.004 million, with operating expenses rising to $18.543 million. While NextNav highlighted some operational progress, including FCC momentum and new board appointments, the financial results appear to have overshadowed these developments, leading to the significant pre-market decline. Investors will likely be closely watching the company's conference call for more insights into its future outlook and strategies to improve financial performance.