NextNav Inc (NN) 2024 Q2 法說會逐字稿

Thank you for standing by.

謝謝你的支持。

My name is Kayla, and I will be your conference operator today.

我叫凱拉，今天我將擔任你們的會議操作員。

At this time, I would like to welcome everyone to the NextNavs Second Quarter 2024 earnings conference call.

此時，我歡迎大家參加 NextNavs 2024 年第二季財報電話會議。

All lines have been placed on mute to prevent any background noise.

所有線路均已靜音，以防止任何背景噪音。

After the speaker's remarks, there will be a question and answer session.

演講者發言後，將進行問答環節。

If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad.

如果您想在此期間提出問題，只需按電話鍵盤上的星號，然後再按數字 1 即可。

If you would like to withdraw your question, please press star one again thinking.

如果您想撤回您的問題，請再次按星號一思考。

I would now like to turn the conference over to Erica Bartsch.

我現在想把會議交給艾麗卡·巴特奇 (Erica Bartsch)。

You may begin.

你可以開始了。

Good afternoon, everyone, and welcome to Nexon's Second Quarter 2024 earnings conference call.

大家下午好，歡迎參加 Nexon 2024 年第二季財報電話會議。

Participating on today's call are Mariam Sorond, NextNav's CEO and Chris Gates, NextNav's Chief Financial Officer.

NextNav 執行長 Mariam Sorond 和 NextNav 財務長 Chris Gates 參加了今天的電話會議。

Before we begin, let me remind everyone that this call will include certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

在我們開始之前，讓我提醒大家，本次電話會議將包括某些構成 1995 年《私人證券訴訟改革法案》含義內的前瞻性陳述的陳述。

Forward-looking statements may be identified by the use of words such as may, anticipate, believe, expect, intend, may, plan, possible, potential, aim, drive, predict, project should you could would will and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward looking such forward-looking statements, which may relate to NexCen as forecasts of future results.

前瞻性陳述可以透過使用「可能」、「預期」、「相信」、「期望」、「打算」、「可能」、「計劃」、「可能」、「潛力」、「目標」、「驅動」、 「預測」、「項目應該你會」等詞語來識別，並且類似的表達方式可以識別前瞻性陳述前瞻性陳述，但缺少這些詞語並不意味著前瞻性陳述不屬於此類前瞻性陳述，這可能涉及NexCen 作為對未來業績的預測。

Future prospect developments and business strategies are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of control that could cause actual results to differ materially from the results discussed in the forward-looking statements.

未來的前景發展和業務策略受到已知和未知的風險、不確定性、假設和其他重要因素的影響，其中許多因素是無法控制的，可能導致實際結果與前瞻性陳述中討論的結果存在重大差異。

You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

請您注意不要過度依賴任何前瞻性陳述，這些陳述僅代表截至發布之日的情況。

And next net undertakes no commitment to update or revise the forward looking statements whether as a result of new information, future events or otherwise for additional information regarding risk factors in Part two, Item 1A, Risk Factors of the Company's quarterly report on Form 10 Q and Part one Item 1A Risk Factors of NetManage annual report on Form 10 K for the year ended December 31st, 2023, as well as those otherwise described are updated from time to time in our other filings with the Securities and Exchange Commission.

Next Net 不承諾更新或修改前瞻性陳述，無論是由於新資訊、未來事件或其他相關公司 10 Q 表季度報告第二部分第 1A 項風險因素中風險因素的資訊截至2023 年12 月31 日的NetManage表格10 K 年度報告第一部分第1A 項風險因素以及其他描述的內容會在我們向美國證券交易委員會提交的其他文件中不時更新。

Following our prepared remarks, the Company will host an operator live question and answer session.

在我們準備好的發言之後，公司將舉辦操作員現場問答環節。

In addition, at the conclusion of today's call, a replay of our discussion will be posted to the Company's Investor Relations website.

此外，在今天的電話會議結束時，我們的討論重播將發佈到公司的投資者關係網站上。

I'd now like to turn the call over to Ms. Mariam Sorond, Chief Executive Officer of NEXTnav.

現在我想將電話轉給 NEXTnav 執行長 Mariam Sorond 女士。

Please go ahead.

請繼續。

Thank you, Erica.

謝謝你，艾麗卡。

Good afternoon and thank you for joining us on the call today.

下午好，感謝您今天加入我們的電話會議。

I will provide an update on the business, including the ongoing process surrounding our filing with the SEC as well as other strategic operating highlights.

我將提供有關業務的最新信息，包括圍繞我們向 SEC 提交文件的正在進行的流程以及其他戰略運營亮點。

I will then hand things over to Chris to review our financials.

然後我會將事情交給克里斯來審查我們的財務狀況。

It was another busy quarter for Lexmark.

對利盟來說，這是另一個繁忙的季度。

As we continue to push forward towards our strategic vision, we are seeing good momentum in the business and making tangible progress.

隨著我們繼續推進我們的策略願景，我們看到了業務的良好勢頭並取得了切實的進展。

Notably this week, the FCC issued a public notice seeking comments on NEXTMap petition for rulemaking.

值得注意的是，本週 FCC 發布了一份公告，徵求對 NEXTMap 規則制定請願書的評論。

This action is the standard first step in a longer term SEC rulemaking process.

這項行動是 SEC 長期規則制定過程中標準的第一步。

While I will discuss the details of the notice and next steps in a moment.

我稍後將討論該通知的細節和後續步驟。

We appreciate the FCC's prompt public notice as this is an important step in delivering an innovative spectrum solution in the lower 900 megahertz band.

我們感謝 FCC 及時發佈公告，因為這是在 900 兆赫頻段以下提供創新頻譜解決方案的重要一步。

Our vision enables next-gen terrestrial three DPNT. as a complement and backup to GPS with a 5G solution that is easily integrated into the existing ecosystem and enables additional spectrum for 5G broadband.

我們的願景是實現下一代地面三DPNT。作為 GPS 的補充和備份，5G 解決方案可輕鬆整合到現有生態系統中，並為 5G 寬頻提供額外頻譜。

I've had the opportunity to speak with many of you since we introduced this vision, and I am excited by the strong investor sentiment and confidence in what we have presented.

自從我們提出這個願景以來，我有機會與你們中的許多人交談，我對投資者的強烈情緒和對我們所提出的內容的信心感到興奮。

This is evident not only in our share price over the past several weeks, but also in the recent exercise of additional warrants.

這不僅體現在過去幾週我們的股價中，而且體現在最近額外認股權證的行使中。

While Chris will provide greater detail.

克里斯將提供更多細節。

In Q2, $9.7 million of warrants were exchanged for an aggregate of $21 million in cash.

第二季度，970 萬美元的認股權證被兌換為總計 2,100 萬美元的現金。

This action further validates the market's confidence in our business and our go-forward strategy.

此舉進一步驗證了市場對我們業務和前進策略的信心。

As a reminder, we are focused on developing a complement and backup to GPS with additional spectrum for broadband services.

提醒一下，我們專注於開發 GPS 的補充和備份，並為寬頻服務提供額外的頻譜。

Leveraging the spectrum we have acquired our proposal combined next place current spectrum holdings was put it otherwise fallow spectrum.

利用我們已獲得的頻譜，我們的建議將目前頻譜持有量合併為其他頻譜。

It puts it to use for public benefit and addresses a major national security issue providing complement and backup to GPS is critical for safeguarding the things we need daily from locating emergency callers to addressing critical infrastructure and national security.

它將其用於公共利益並解決重大國家安全問題，為 GPS 提供補充和備份對於保護我們日常所需的事物（從定位緊急呼叫者到解決關鍵基礎設施和國家安全）至關重要。

Our proposal creates abundance from scarcity in the spend by unleashing much needed spectrum for wireless technology.

我們的提案透過釋放無線技術急需的頻譜，從支出的稀缺性中創造富足。

If common sense, solutions can benefit consumers, there are national interest at no cost to taxpayers, and we'll appropriately protect incumbent operations.

如果符合常識，解決方案可以使消費者受益，並且無需納稅人付出任何代價就能維護國家利益，那麼我們將適當地保護現有業務。

More importantly, it bears highlighting that spectrum below one gigabit that is usable for part broadband is scarce and extremely valuable carriers because it penetrates wall and propagates over long distances.

更重要的是，值得強調的是，可用於部分寬頻的低於1吉比特的頻譜是稀缺且極其有價值的載體，因為它可以穿牆並進行長距離傳播。

Additionally, having a new contiguous 10 megahertz low-band block suitable for broadband downlink is an exceptional opportunity.

此外，擁有適合寬頻下行鏈路的新的連續 10 兆赫茲低頻段區塊是一個絕佳的機會。

As a result, the full band spectrum has become the most capital efficient way to provide coverage inside buildings This is also why it is a strong fit for deployment of our 5G-based PNT service.

因此，全頻段頻譜已成為在建築物內提供覆蓋的最具資本效率的方式，這也是為什麼它非常適合部署我們基於 5G 的 PNT 服務。

I will touch on that more in a moment because of the recent focus on mid-band spectrum, which naturally has greater bandwidth.

由於最近對中頻頻譜的關注，它自然具有更大的頻寬，因此我稍後會詳細討論這一點。

It's easy to forget that most low-band spectrum is in the five plus five laggers blocks.

人們很容易忘記大多數低頻段頻譜位於五加五滯後區塊中。

While max lab expects to have a 10 megahertz downloads the need for mobile network operators or MNOs have on average around 25 megahertz of low-band downlink spectrum with some variation across geographies.

雖然 max lab 預計下載速度為 10 兆赫，但行動網路營運商或 MNO 平均需要約 25 兆赫的低頻段下行鏈路頻譜，但不同地區之間存在一定差異。

So adding an additional 10 megahertz zone will include increased and M&O stock of low-band downlink spectrum by roughly 40%, a material addition to their spectrum portfolio.

因此，增加一個額外的 10 兆赫茲區域將包括增加約 40% 的低頻段下行鏈路頻譜的 M&O 庫存，這是對其頻譜組合的重要補充。

This is why we believe we have a powerful proposal that created unique and economically viable opportunity to help address the urgent need for widespread complementary and backup PNT services.

這就是為什麼我們相信我們有一個強有力的提案，它創造了獨特且經濟上可行的機會，以幫助解決對廣泛補充和備份 PNT 服務的迫切需求。

It is also why I was pleased to see the FCC issue Apan for rulemaking this week, helping to move us another step forward in the process.

這也是為什麼我很高興看到 FCC 本週將 Apan 納入規則制定範圍，幫助我們在這一過程中又向前邁進了一步。

This follows the April 24th PM issued by the SEC regarding the application to find a block licenses that match that agreed to acquire from Toll stores.

在此之前，SEC 於 4 月 24 日發布了關於尋找與同意從 Toll 商店獲取的許可證相符的集體許可證的申請。

We received only two comments back on the block assignment request during the 14 day comment period and feel good about where things stand regarding the PN on the petition for rulemaking.

在 14 天的意見徵詢期內，我們只收到了兩條關於區塊分配請求的評論，並且對規則制定請願書中 PN 的現狀感到滿意。

The FCC has requested comments from the public on this proceeding within the next 30 days, followed by a 15-day reply comment period all comments will be public.

FCC 已要求公眾在未來 30 天內就此程序發表評論，隨後有 15 天的回覆評論期，所有評論都將公開。

The commission then considers the comments and reply comments in developing proposed rules.

然後，委員會在製定擬議規則時考慮這些意見並回覆意見。

We expected next commission action would be a notice of proposed rulemaking or NPRM followed by another period of public comment and then a final order adopting new rules for the bank.

我們預計委員會的下一步將是發出擬議規則制定或 NPRM 的通知，然後再進行一段時間的公眾評論，然後發佈為銀行採用新規則的最終命令。

As a general rule, an NPRM would not happen for some time after the public notice and comment period.

一般來說，在公示和徵求意見期後的一段時間內不會發生 NPRM。

And typically after comments and reply comments for the PM are filed, it can take considerable amount of time for the record to be evaluated and the subsequent NPRM to be drafted reviewed and we lead overall, we feel good about where things stand are pleased with our progress to date.

通常，在提交 PM 的意見和答复意見後，可能需要相當長的時間來評估記錄並起草審查隨後的 NPRM，我們總體上處於領先地位，我們對目前的情況感到滿意，對我們的迄今為止的進展。

As I've said many times before, this is a process.

正如我之前多次說過的，這是一個過程。

We plan to continue working closely with the FCC and are focused on taking this one step at a time.

我們計劃繼續與 FCC 密切合作，並專注於一步一步地採取行動。

While we work through the process with the SEC, we simultaneously received some exciting news out of the Department of Transportation.

在我們與 SEC 合作完成整個流程的同時，我們同時從交通部收到了一些令人興奮的消息。

On July third, the DOT issued a press release announcing that net NAB was awarded a purchase order to test the Company's three DPNT. technology, a terrestrial solution that delivers PMC, does it complement and backup to GPS.

7 月 3 日，DOT 發布新聞稿，宣布 Net NAB 獲得了測試該公司三台 DPNT 的採購訂單。技術是一種提供 PMC 的地面解決方案，它是 GPS 的補充和備份。

The award comes from the DOT booking center and is a part of its complementary P&C action plan.

該獎項來自 DOT 預訂中心，是其補充性 P&C 行動計劃的一部分。

As you may recall, in 2021, the DOT recognized next place technology as the best performing P&C technology in all applicable use cases.

您可能還記得，2021 年，交通部將下一位技術視為所有適用用例中效能最佳的 P&C 技術。

The court ordered is significant because it's aligned with the DOTs complementary PNT action plan to conduct field testing of technologies with critical infrastructure providers.

法院的命令意義重大，因為它與 DOT 的補充 PNT 行動計劃一致，即與關鍵基礎設施提供者一起對技術進行現場測試。

Further, it validates NextEra strength and leadership position in P. and T. services, as we were awarded the largest dollar value from the DOT.

此外，它驗證了 NextEra 在 P. 和 T. 服務方面的實力和領導地位，因為我們獲得了 DOT 授予的最大美元價值。

The award will provide nearly $1.9 million in funding to Lexmark and what has our three DPNT. technology, a terrestrial solution that delivers P and T as a complement and a backup to GPS.

該獎項將為利盟和我們的三個 DPNT 提供近 190 萬美元的資金。技術，一種地面解決方案，可提供 P 和 T 作為 GPS 的補充和備份。

This program aligns well with our technology and Spectrum path with DSTC. next, not terrestrial P. and T. technology creates a complete 3D solution for positioning in outdoor, urban and indoor environments, including highly accurate vertical location our solution also includes the timing source that can serve as backup if GPS is available.

該計劃與我們與 DSTC 的技術和頻譜路徑非常吻合。接下來，不是地面P. 和T. 技術創建了一個完整的3D 解決方案，用於在室外、城市和室內環境中進行定位，包括高度精確的垂直定位。可以作為備份的定時來源。

We are excited to partner with the DOT to demonstrate our P and T capabilities and to develop technology solutions to address national security, economic and public safety needs.

我們很高興與交通部合作，展示我們的運輸和運輸能力，並開發技術解決方案來滿足國家安全、經濟和公共安全需求。

Complementing these efforts, we have also made several strategic moves internally to ensure that we have the right team in place to execute our vision at the Board level, we recently announced that Nicki Palmer joined Connect's NAB Board of Directors.

為了補充這些努力，我們還在內部採取了幾項策略舉措，以確保我們擁有合適的團隊在董事會層面執行我們的願景，我們最近宣布 Nicki Palmer 加入 Connect 的 NAB 董事會。

Mickey comes to us with deep expertise in the strategic development operation and expansion of ecosystems powered by 5G technology.

Mickey 來到我們這裡，在 5G 技術支援的策略發展營運和生態系統擴展方面擁有深厚的專業知識。

And we develop new products and services to advance 5G growth.

我們開發新產品和服務來推動 5G 成長。

She spent the majority of her career with Verizon, while they're her leadership, all spent engineering operations and technology supporting advanced data and wireless products serving as CTO, Chief Engineering Officer and Head of wireless networks.

她的大部分職業生涯都在Verizon 度過，而他們是她的領導者，所有這些都花在了支持先進數據和無線產品的工程運營和技術上，擔任首席技術官、首席工程官和無線網絡主管。

We are thrilled to have Nikki onboard and believe she will be invaluable to our team as we advance our vision for an innovative spectrum solution in the lower 900 megahertz band.

我們很高興 Nikki 加入，並相信她對我們的團隊來說將是無價的，因為我們將在 900 兆赫頻段以下實現創新頻譜解決方案。

We also recently restructured our internal workforce to better align our org structure with our strategic objectives and drive greater operational efficiency.

我們最近也重組了內部員工隊伍，以更好地使我們的組織結構與我們的策略目標保持一致，並提高營運效率。

This resulted in a roughly 20% reduction in headcount, primarily from within our software engineering teams.

這導致員工人數減少了約 20%，主要來自我們的軟體工程團隊。

In addition, we also have made several strategic hires, including our new CLO semiconductor shops, T&R that brings the necessary skills and background to help advance our strategic vision.

此外，我們還進行了幾項策略招聘，包括我們新的 CLO 半導體商店、T&R，他們帶來了必要的技能和背景，以幫助推進我們的策略願景。

I feel confident that we're putting together a powerful group to help us move forward.

我相信我們正在組建一個強大的團隊來幫助我們前進。

We have a strong and capable team here at max now, and I am thrilled to have the opportunity to work with them every day.

現在我們在 max 擁有一支強大而有能力的團隊，我很高興有機會每天與他們一起工作。

I look forward to all that we can achieve together.

我期待著我們共同實現的一切。

In closing, we are seeing solid momentum across the business, and I am excited by our progress.

最後，我們看到整個業務的強勁勢頭，我對我們的進步感到興奮。

We have more work ahead of us, but I believe we're putting together the right team and the right resources to position us for success.

我們還有更多的工作要做，但我相信我們正在組建合適的團隊和合適的資源來幫助我們取得成功。

I look forward to bringing you with us on this exciting journey.

我期待著與您一起踏上這段激動人心的旅程。

With that, let me turn things over to Chris to discuss our financials.

接下來，讓我把事情交給克里斯來討論我們的財務狀況。

Chris?

克里斯？

Thanks, Miriam, and good afternoon, everyone.

謝謝米里亞姆，大家下午好。

Nextnavs revenue in the second quarter was $1.1 million, a $0.3 million increase from $0.8 million in the prior year period.

Nextnavs 第二季營收為 110 萬美元，比去年同期的 80 萬美元增加了 30 萬美元。

For the first half of 2024 revenue was $2.1 million, a $0.5 million increase from $1.6 million in 2023.

2024 年上半年的收入為 210 萬美元，比 2023 年的 160 萬美元增加了 50 萬美元。

The increase in both the three and six month periods was driven by an increase in service revenue from technology and services contracts with commercial customers, including and supportive government opportunities.

這三個月和六個月的成長都是由與商業客戶的技術和服務合約（包括政府支持機會）帶來的服務收入增加所推動的。

Staying on the topic of revenue.

繼續討論收入的話題。

As Mary noted, we were recently awarded a $1.9 million purchase order from the Department of Transportation.

正如瑪麗所指出的，我們最近從交通部獲得了 190 萬美元的採購訂單。

This one-year order started in July of 2024, and we anticipate seeing the revenue impact from this beginning in the third quarter of this year.

這項為期一年的訂單於 2024 年 7 月開始，我們預計今年第三季將看到由此開始的收入影響。

The government has the option to extend this order by up to six months under the current terms and has the option to extend the order for up to two years to allow for additional testing.

根據當前條款，政府可以選擇將該命令延長最多六個月，並可以選擇將該命令延長長達兩年，以便進行額外的測試。

Operating expenses for the second quarter were $16.4 million, up from approximately $15.8 million in the same period last year.

第二季營運費用為 1,640 萬美元，高於去年同期的約 1,580 萬美元。

Operating expenses included $1.3 million in depreciation and amortization and $3.7 million in equity compensation compared to $1.2 million in depreciation and amortization and $4.4 million in equity compensation in the second quarter of 2023.

營運費用包括 130 萬美元的折舊和攤提以及 370 萬美元的股權薪酬，而 2023 年第二季的折舊和攤提為 120 萬美元，股權薪酬為 440 萬美元。

For the first half of the year, operating expenses were $33.6 million compared to $30.6 million in 2023.

今年上半年，營運費用為 3,360 萬美元，而 2023 年為 3,060 萬美元。

Excluding stock-based compensation expense and depreciation and amortization, operating expenses were $23.1 million in the first half of 2024 and $20.1 million in the first half of 2023.

不包括股票薪酬費用以及折舊和攤銷，2024 年上半年營運費用為 2,310 萬美元，2023 年上半年為 2,010 萬美元。

Net loss for the second quarter was $24.4 million, which included a $6.6 million loss associated with the change in the fair value of warrants.

第二季淨虧損為 2,440 萬美元，其中包括與認股權證公允價值變動相關的 660 萬美元虧損。

Net of the gain associated with the change in liability associated with Telesaurus asset purchase agreements as compared to a net loss of $15.8 million in the second quarter of 2023, which included a loss of $0.3 million associated with the change in the fair value of warrant liability.

扣除與 Telesaurus 資產購買協議相關的負債變動相關的收益，而 2023 年第二季的淨虧損為 1,580 萬美元，其中包括與認股權證負債公允價值變動相關的 30 萬美元的虧損。

For the first half of the year, net loss was $56 million, included a $19.8 million loss associated with the change in the fair value of warrant liability, net of the gain associated with the change in liability associated with the Telesaurus asset purchase agreement compared to a net loss of $32.1 million in the first half of 2023, including $3.1 million associated with the change in the fair value of warrant liability.

上半年淨虧損為 5,600 萬美元，其中包括與認股權證負債公允價值變動相關的 1,980 萬美元虧損，扣除與 Telesaurus 資產購買協議相關負債變動相關的收益。包括與認股權證負債公允價值變動相關的310萬美元。

From a balance sheet perspective, we finished the quarter with $86.3 million in cash, cash equivalents and short-term investments.

從資產負債表的角度來看，本季末我們的現金、現金等價物和短期投資為 8,630 萬美元。

Our use of cash for the quarter included payment of expenses associated taxes and accrued compensation of approximately $1.5 million related to the restructuring mentioned earlier in the call.

我們本季的現金使用包括支付與電話會議前面提到的重組相關的相關稅費和應計補償約 150 萬美元。

Our cash balance also includes two significant nonoperating elements.

我們的現金餘額也包括兩個重要的非經營性要素。

As I noted on last quarter's call, our use of cash in 2Q 24 following quarter approval included the payment of $2.5 million in cash in April for the terms of our asset purchase agreement.

正如我在上一季的電話會議上指出的，我們在季度批准後的 2024 年第二季度使用的現金包括 4 月份根據資產購買協議條款支付的 250 萬美元現金。

And as Miriam highlighted, we enjoyed the benefit of $21 million in proceeds from additional warrant exercises in the quarter.

正如 Miriam 所強調的那樣，我們從本季度額外的認股權證行使中獲得了 2,100 萬美元的收益。

I'm also pleased to report that following the close of the quarter, warrants continued to be exercised with an additional $2.3 million exercised through July 31st, 2024 for an additional $5 million in proceeds.

我還很高興地報告，本季結束後，認股權證繼續行使，截至 2024 年 7 月 31 日，額外行使了 230 萬美元的認股權證，額外獲得了 500 萬美元的收益。

Finally, our balance sheet showed $51.4 million of debt net of unamortized discount attributed to transaction costs and the issuance of warrants with a gross value of $70 million.

最後，我們的資產負債表顯示，扣除交易成本和發行總價值 7,000 萬美元認股權證的未攤銷折扣後，債務淨額為 5,140 萬美元。

And with that, I'll turn the call back to the operator.

然後，我會將電話轉回給接線生。

Operator?

操作員？

Thank you.

謝謝。

We'll now begin the question and answer session.

我們現在開始問答環節。

If you have dialed in and would like to ask a question, please press star followed by the number one on your telephone keypad to raise your hand and join the queue.

如果您已撥入並想提問，請按星號，然後按電話鍵盤上的數字 1 舉手並加入隊列。

If you would like to withdraw your question, please press star one again.

如果您想撤回您的問題，請再次按星號一。

If you are called upon to ask your question and are listening via speaker and your device, please pick up your handset and ensure that your phone is not on mute.

如果您被要求提出問題並且正在透過揚聲器和裝置收聽，請拿起您的聽筒並確保您的手機未處於靜音狀態。

When asking your question again, please press star one to join the queue.

再次提問時，請按星號一加入佇列。

Your first question comes from the line of Matthew Miles with B. Riley Securities.

你的第一個問題來自 B. Riley Securities 的 Matthew Miles。

Please go ahead.

請繼續。

Good afternoon.

午安.

Thanks for taking my question.

感謝您提出我的問題。

I was just wondering if you can give some color on where nextnav is at regarding the assignment of the additional four megahertz of spectrum licenses acquired from Telesaurus, ours and Sky bridge.

我只是想知道您是否可以透露一下 nextnav 在分配從 Telesaurus、我們的和 Skybridge 獲得的額外 4 兆赫頻譜許可證方面的情況。

Has the FCC made a decision yet to approve or deny or defer this assignment?

FCC 是否已做出批准、拒絕或推遲這項任務的決定？

Hi, thanks for the question.

你好，謝謝你的提問。

So the FCC did put a PR out on the application, and that was really through an automated process.

因此，FCC 確實在該申請上發布了 PR，而且這實際上是透過自動化流程完成的。

And and we are actually at this point waiting for the FCC to make a decision on it, but we have not received any further updates so far.

我們實際上正在等待 FCC 對此做出決定，但到目前為止我們還沒有收到任何進一步的更新。

Right, that was helpful.

是的，這很有幫助。

And that was it for me.

對我來說就是這樣。

Thank you.

謝謝。

And your next question comes from the line of Kane Paris with R.F. Lafferty.

你的下一個問題來自 Kane Paris 和 R.F.拉弗蒂。

Everybody, Thanks for taking my question.

大家，謝謝您提出我的問題。

Regarding yesterday's filing, a petition there's a list of unlicensed users and users that might pose a maybe an up pay our objection to to the sort of plan.

關於昨天提交的文件，一份請願書列出了未經許可的用戶和可能對此類計劃提出反對的用戶的加薪。

I mean, are you anticipating working what are the plans selected by the amateur radio or the lights in just as far as maybe make creating a new obstacle for the covenant?

我的意思是，你是否預期業餘無線電或燈光所選擇的計劃可能會為聖約製造新的障礙？

I mean you got another quarter to finally you're going to work with this plan?

我的意思是，你還有一個季度的時間才能最終實施這個計劃？

I mean, how does that work?

我的意思是，那是如何運作的？

You guys have a different part of the like low side than on Poseidon section, you're going to share or is it encrypted?

你們有一個與波塞冬部分不同的低階部分，你們要分享還是加密的？

I mean, maybe give us a bit of color on how that's going to work out.

我的意思是，也許可以給我們一些關於這將如何進行的資訊。

Yes.

是的。

I think, Jamie, actually, we're not going to speculate on comments with respect to the PM rate, we're going to wait to see that we're going to read them really carefully, and we have replied all the comp.

我認為，傑米，實際上，我們不會猜測有關 PM 利率的評論，我們會等待，看看我們是否會非常仔細地閱讀它們，並且我們已經回復了所有補償。

That's our plan right now.

這就是我們現在的計劃。

And we intend to and we've done reach out.

我們打算並且已經做到了伸出援手。

We intend to work with all the parties and the stakeholders where it's reasonable and appropriate to work with them.

我們打算在合理且適當的情況下與所有各方和利害關係人合作。

And we look forward to the dialogue and working with them through the process.

我們期待在整個過程中與他們進行對話並合作。

I think my next question now the DOT Econ project, no set timeframe on access in its combat the wire, but also what are the metrics or benchmarks the DOT is sort of looking at on BoardEx to like to.

我想我的下一個問題是 DOT Econ 項目，在其網路攻擊中沒有設定存取時間框架，但 DOT 在 BoardEx 上喜歡看什麼指標或基準。

First of all, they've awarded about nine and the testing phase.

首先，他們已經授予了大約九個和測試階段。

They have a plan out on what the phases are going to be.

他們對將要進行的階段有一個計劃。

I think that Chris, maybe you can share some of the details.

我認為克里斯，也許你可以分享一些細節。

If not, we can get you that offline on what exactly that their phases are.

如果沒有，我們可以讓您離線了解它們的階段到底是什麼。

Yes, Jamie, we'll come back to you on on some of that kind of inside the contract inside the contract detail target.

是的，傑米，我們會就合約詳細目標中的一些內容與您聯繫。

Yes, that's all the questions I have.

是的，這就是我的所有問題。

Thanks for taking my questions.

感謝您回答我的問題。

Thank you.

謝謝。

And once again, if you would like to ask a question, simply press star followed by the number one, your telephone keypad.

再一次，如果您想提問，只需按星號，然後按數字 1，即您的電話鍵盤。

As there are no further questions at this time, I would like to turn it back to Mariam Sorond for closing remarks.

由於目前沒有其他問題，我想請 Mariam Sorond 作結束語。

And thank you all for joining us today.

感謝大家今天加入我們。

As you can see the entire Nexstar team is hard at work executing against our vision.

正如您所看到的，整個 Nexstar 團隊正在努力執行我們的願景。

We believe our unique vision will provide an innovative platform solution in the lower 900 megahertz band.

我們相信，我們獨特的願景將在 900 兆赫以下頻段提供創新的平台解決方案。

We're excited for what lies ahead and will continue to provide an update on our progress as we move forward.

我們對未來的發展感到興奮，並將在前進的過程中繼續提供最新進展。

Thank you all.

謝謝大家。

Thank you.

謝謝。

And ladies and gentlemen, this concludes today's conference call.

女士們、先生們，今天的電話會議到此結束。

Thank you all for participating.

感謝大家的參與。

You may now disconnect.

您現在可以斷開連線。