NextNav Inc. (NN) shares plunged 5.12% in pre-market trading on Thursday following the release of its second-quarter 2025 financial results. The company, which specializes in high-precision industrial components for automotive, electrical, and medical sectors, reported disappointing revenue figures that fell short of analyst expectations.

According to the earnings report, NextNav's GAAP revenue for Q2 2025 came in at $107.9 million, missing the analyst estimate of $110.8 million. This represents a significant 12.3% decline compared to the same quarter in the previous year. The revenue shortfall was primarily attributed to ongoing weakness in core end markets, particularly in the automotive sector.

Despite the revenue miss, NextNav did show some positive signs in its earnings report. The company reported a non-GAAP earnings per share (EPS) of $0.02, exceeding analyst estimates and improving from the prior year's adjusted loss of $0.02 per share. Additionally, NextNav's adjusted operating income more than doubled to $4.9 million, driven by cost-cutting measures and efficiency improvements. However, these positive aspects were not enough to offset investor concerns about the company's top-line performance, leading to the sharp decline in stock price.