US Market News
2日前
NextNav Aims for Safe Drone-dominant Future with GSMA and Industry PartnersJune 10, 2026 11:00 AM
Business Wire NextNav will collaborate in drone ecosystem for safe, trusted, scalable drone operations in expanding market NextNav Inc. (Nasdaq: NN), a leader in next-generation terrestrial positioning, navigation, and timing (PNT) and 3D geolocation solutions, today announced it has joined GSMA and industry partners in an industry-first call to action bringing together leaders from telecommunications, aviation, security, and drone operations to help shape the future for safer drone airspaces. The Joint Requirements Statement, developed through the GSMA Fusion initiative, sets out how mobile networks and programmable network capabilities can support safe, trusted, and scalable drone operations as the market grows. “NextNav supports American drone dominance and looks forward to partnering with GSMA and industry partners to ensure safe drone airspaces,” said Deepak Joseph, NextNav’s Vice President of Product Management. “Resilient, accurate 3D PNT technology enabled by mobile networks is critical for airspace safety, including navigation. NextNav is committed to improving the availability and continuity of low-altitude 3D positioning, delivering widescale horizontal and vertical location information to support unmanned aircraft systems operations in a growing commercial market.” The statement outlines how mobile networks can evolve to play a strategic role in enabling trusted low altitude aviation through several capabilities, including secure positioning and geolocation and resilient multi-layer connectivity through terrestrial networks. It further highlights the growing urgency for industry alignment as governments, regulators, and aviation authorities worldwide accelerate work on beyond visual line of sight drone operations, drone first responder programs, autonomous aviation systems, and future passenger carrying eVTOL aircraft. With nearly 20 years of PNT technology development, NextNav is prepared to rapidly deliver dual-use capabilities that directly support President Trump’s drone dominance objectives. Earlier this year, NextNav filed comments in the Federal Communications Commission’s (FCC) proceeding in support of President Trump’s national strategy of American drone dominance, discussing the role its 5G-powered 3D PNT and sensing solution could play in safe UAS operations. “The drone market is scaling far faster than many of today’s airspace and identification frameworks were originally designed for,” said Barney Stinton, Market Development Lead, Aviation at GSMA Fusion. “This Joint Requirements Statement is an important signal from industry that mobile networks have a major role to play in supporting safe, trusted, and interoperable drone operations at scale.” NextNav will continue to collaborate with other participants, including through discussions with additional aviation stakeholders, operators, regulators, and standards bodies. The Joint Requirements Statement will be presented through ongoing GSMA Fusion industry engagement activities. About NextNav NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation’s largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com. For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/. View source version on businesswire.com: https://www.businesswire.com/news/home/20260610983296/en/ Investor Contact:
IR@nextnav.com Media Contact:
NNmedia@nextnav.com Original: NextNav Aims for Safe Drone-dominant Future with GSMA and Industry Partners
US Market News
3週前
NextNav Demonstrates Exceptional First-Ever Wireless Indoor Timing Solution for Critical InfrastructureMay 19, 2026 5:09 PM
Business Wire 5G-Based Timing Delivery of 20 Nanosecond Synchronization Exceeds International Timing Standards and Critical Infrastructure Requirements NextNav Inc. (Nasdaq: NN), a leader in next-generation terrestrial positioning, navigation, and timing (PNT) and 3D geolocation solutions, today announced real-world field validation of timing accuracy of approximately 20 nanoseconds (billionths of a second) using Positioning Reference Signals (PRS) transmitted by its operational 5G PNT Network in Santa Clara County, CA. The field validation was conducted over-the-air in both outdoor and indoor environments, including GPS-denied locations. The timing results demonstrate how NextNav’s planned 5G-powered 3D PNT solution in the lower 900 MHz band can deliver timing information to serve critical infrastructure needs. NextNav’s solution is capable of reaching locations where GPS may be unavailable, such as indoors, in urban canyons, or in GPS-denied environments. The timing accuracy performance significantly exceeds the 100-nanosecond requirement for critical infrastructure applications, and the stability meets key international timing standards like ITU PRTC Telecom Mask B. "This is an important proof point for our commercial readiness and shows that NextNav can deliver the timing accuracy and stability required for a range of mission-critical capabilities, including some of the most demanding, such as AI data centers, electric utilities, telecom networks, public safety, and national security applications,” said Arun Raghupathy, Co-Founder and CTO at NextNav. “Precise timing is a foundational layer for the critical infrastructure powering the modern economy, and these results show our standards-based terrestrial 5G-powered 3D PNT solution can serve as an important complement and backup to GPS.” For more information on these timing results, NextNav released a blog following the company’s presentation on May 6, 2026, at the Workshop on Synchronization and Timing Systems (WSTS), hosted by the Alliance for Telecommunications Industry Solutions. About NextNav NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation’s largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com. For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions and are not predictions of actual performance. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the following factors: difficulties, delays, or unforeseen challenges in the development, deployment, operation, or integration of NextNav’s network, assets, software, or other technologies, including its next-generation terrestrial 3D PNT technology; adverse regulatory developments, including action or inaction by the Federal Communications Commission (“FCC”) or other federal or state governmental authorities affecting spectrum allocation, location-based services, the use of licensed spectrum, or E911 or related requirements; the outcome and timing of NextNav’s pending petition for rulemaking before the FCC and the possibility that the FCC may not issue a notice of proposed rulemaking (“NPRM”), may delay or decline to adopt a subsequent report and order (“R&O”), or may adopt rules that differ materially from those sought by NextNav; and NextNav’s ability to execute its business plan, including entering into and maintaining strategic partnerships, managing growth, and achieving or sustaining profitability. These factors are not exhaustive. Additional risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are described in NextNav’s filings with the Securities and Exchange Commission, including, but not limited to, the “Risk Factors” section of NextNav’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. View source version on businesswire.com: https://www.businesswire.com/news/home/20260519259411/en/ Investor Contact:
IR@nextnav.com Media Contact:
NNmedia@nextnav.com Original: NextNav Demonstrates Exceptional First-Ever Wireless Indoor Timing Solution for Critical Infrastructure
US Market News
4週前
NextNav Joins OCUDU Ecosystem Foundation to Advance Open Source 5G and 6G Integrated Sensing and PNTMay 14, 2026 12:26 PM
Business Wire NextNav will help advance network-native PNT and ISAC capabilities within the OCUDU Ecosystem Foundation’s open source RAN stack, supporting the evolution of positioning and timing technologies for 5G and 6G networks. NextNav Inc. (Nasdaq: NN), a leader in next-generation terrestrial positioning, navigation, and timing (PNT) and 3D geolocation solutions, today announced it has joined the OCUDU Ecosystem Foundation, a collaborative initiative hosted by the Linux Foundation to advance open, secure, and interoperable Open RAN centralized unit and distributed unit (CU/DU) implementations. The OCUDU Ecosystem Foundation provides a critical mechanism for industry vendors to optimally guide OCUDU development to support 5G and early AI Native 6G services. As a member, NextNav will collaborate with the OCUDU Ecosystem Foundation community to shape the development, validation, and adoption of the 3GPP Positioning Reference Signal (PRS) within the Foundation’s OCUDU Technical Project code base — extending the open source RAN stack to natively support Integrated Sensing and Communications (ISAC) and PNT use cases in 5G and future 6G networks. NextNav brings almost 20 years of PNT technology development, including field-validated experience from operating the world’s first 5G PNT network, launched in Santa Clara, California. "Resilient PNT is a national security imperative. We're excited to partner with the OCUDU Ecosystem Foundation and the Department of War's FutureG Office to make ISAC and PNT built-in features of wireless networks," said Santanu Dasgupta, NextNav's Vice President of Product Development. "Scaling this requires an open, trusted foundation the whole industry can build on. Joining OCUDU brings NextNav's technology into a broader community, ensuring PRS-based ISAC and PNT become native capabilities in open source 5G and 6G networks.” By embedding PRS capabilities into an open source foundation, NextNav and the OCUDU Technical Project aim to accelerate a triple-purpose vision for public cellular, private wireless, and hybrid terrestrial/satellite networks, serving as a complement and backup to GPS. “OCUDU EF was created to bring the industry together around open, secure, and interoperable CU/DU implementations for Open Source RAN,” said Arpit Joshiura, SVP and general manager, Networking, Edge and IoT, the Linux Foundation. “We’re pleased to welcome NextNav to the OCUDU Ecosystem Foundation and look forward to their contributions as we continue building a collaborative, vendor-neutral ecosystem that can accelerate real-world adoption of Open Source RAN infrastructure.” A key objective of OCUDU Ecosystem Foundation is to create a public-private commercial and research ecosystem and an open source stack for open source CU and DU (part of Open source RAN) aimed at delivering the open source RAN infrastructure that will power the AI-native networks of the future. That vision is precisely where AI and the physical world converge. As AI systems increasingly depend on accurate knowledge of where and when events occur in the real world, resilient positioning and timing is quickly becoming foundational infrastructure. OCUDU Ecosystem Foundation's AI-native Open Source RAN roadmap reflects that reality. PRS integration is a natural fit for enabling Physical AI, integrated sensing, and AI-driven optimization capabilities that will protect national security, public safety, and the economy. About NextNav
NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation’s largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com. For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/. Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe”, or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of NextNav’s management and are not predictions of actual performance. These forward-looking statements are also subject to a number of risks and uncertainties, including, but not limited to, the following factors: the failure to realize the anticipated benefits and commercial acceptance of NextNav’s technology in various industries (e.g., public safety, mobility, logistics); the possibility of difficulties or delays in the development, deployment, or integration of NextNav’s network and related software; adverse future regulatory developments, including potential actions by the Federal Communications Commission (FCC) or other governmental agencies affecting spectrum allocation, location-based services, the use of licensed spectrum or requirements for E911 compliance; and NextNav’s ability to execute its business plan, manage growth, and achieve or sustain profitability. These are only some of the factors that may affect the forward-looking statements contained herein. For additional factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see the company’s filings with the Securities and Exchange Commission, including, but not limited to, “Risk Factors” in the company’s most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q. If any of these risks materialize or NextNav’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. You are cautioned not to place undue reliance upon any such statements, which speak only as of the date made, and NextNav undertakes no commitment to update or revise the forward-looking statements, except where required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260514111911/en/ Investor Contact:
IR@nextnav.com Media Contact:
NNmedia@nextnav.com Original: NextNav Joins OCUDU Ecosystem Foundation to Advance Open Source 5G and 6G Integrated Sensing and PNT
US Market News
3月前
NextNav Inc. Reports Fourth Quarter and Full Year 2025 Results and Operational HighlightsMarch 17, 2026 4:05 PM
Business Wire
NextNav confident FCC moving toward near-term NPRM
NextNav Inc. (NASDAQ: NN) a leader in next generation positioning, navigation, and timing (PNT) and 3D geolocation, today reported its financial results and operational updates for the quarter ended and full year December 31, 2025.
“We are confident the Federal Communications Commission (FCC) is moving toward a Notice of Proposed Rulemaking (NPRM) in the near term, supported by a robust and well-developed record with a path to a Report and Order,” said Mariam Sorond, CEO of NextNav. “FCC Chairman Brendan Carr’s recent submission of a PNT rulemaking to the Office of Management and Budget represents an important milestone achieved in rapid time, reflecting extraordinary momentum under this Administration. We applaud Chairman Carr for moving forward to fulfill an Administration priority delivering a resilient terrestrial complement and backup to GPS?.”
Operational Highlights
On February 27, 2026, NextNav announced the expansion of its Board with the appointment of seasoned technology and national security leader, Lisa Hook, as Lead Independent Director. Details can be found here.
On January 27, 2026, CTIA announced that Mariam Sorond has joined its Board of Directors. Details can be found here.
On December 16, 2025, NextNav announced an expanded partnership with Japan’s MetCom, reflecting global demand for resilient, terrestrial PNT solutions. Details can be found here.
On December 11, 2025, NextNav announced it would commence localized operation of the world’s first 5G-powered PNT Network for temporary testing purposes, marking a major step toward commercialization. Details can be found here.
Financial Highlights
Balance Sheet: As of December 31, 2025, the Company had $152.1 million in cash and cash equivalents and short-term investments. Net long-term debt of $273.6 million includes derivative liability of $115.8 million, and is net of unamortized discount of $32.2 million, with a face value of $190 million.
Conference Call Information
NextNav will host a conference call for analysts and investors at 5:00 pm ET on Tuesday, March 17, 2026.
Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://events.q4inc.com/attendee/726470683. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast.
To access the live webcast or a replay, visit the Company’s investor relations website at https://ir.nextnav.com/.
To receive replay details, please register through the link above. After registering for replay details, each participant will be provided with call details and access codes to listen to the call playback.
About NextNav Inc.
NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation’s largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com.
For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/.
Source: NextNav
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe”, or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of NextNav's management and are not predictions of actual performance.
These forward-looking statements are also subject to a number of risks and uncertainties, including, but not limited to, the following factors: the failure to realize the anticipated benefits and commercial acceptance of NextNav's technology in various industries (e.g., public safety and mobility); the possibility of difficulties or delays in the development, deployment, or integration of NextNav's assets, network, software or other technology, including its next generation terrestrial 3D PNT technology; adverse future regulatory developments, including potential action or inaction by the Federal Communications Commission (FCC) or other governmental agencies with respect to NextNav’s pending petition for rulemaking with the FCC, or otherwise affecting spectrum allocation, location-based services, the use of licensed spectrum or requirements for E911 compliance; and NextNav's ability to execute its business plan, including partnering with mobile network operators to execute its long-term business strategy, to manage growth, and to achieve or sustain profitability. Despite the Company’s belief that its petition for rulemaking before the FCC will be favorably resolved in a timely manner, the process with respect to an NPRM and subsequent Report and Order is complex and dependent on coordination across multiple federal government stakeholders, satisfaction of any conditions that might be placed on NextNav, and other factors. Consequently, there can be no assurance that the outcome of this process will be timely or successful.
These are only some of the factors that may affect the forward-looking statements contained herein. For additional factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see the company's filings with the Securities and Exchange Commission including, but not limited to, "Risk Factors" in the company's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q. If any of these risks materialize or NextNav's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. You are cautioned not to place undue reliance upon any such statements, which speak only as of the date made, and NextNav undertakes no commitment to update or revise the forward-looking statements, except where required by law.
NEXTNAV INC.
CONSOLIDATED BALANCE SHEETS
December 31,
2025
2024
(in thousands)
Assets
Current assets:
Cash and cash equivalents
$
44,757
$
39,330
Short term investments
107,381
40,785
Accounts receivable
2,346
3,301
Other current assets
2,927
2,629
Total current assets
$
157,411
$
86,045
Property and equipment, net of accumulated depreciation of $16,458 and $13,716 at December 31, 2025 and 2024, respectively
11,763
17,974
Operating lease right-of-use assets
14,856
17,368
Goodwill
19,161
16,966
Intangible assets, net
42,167
9,589
Other assets
1,661
13,798
Total assets
$
247,019
$
161,740
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable
$
661
$
858
Accrued expenses and other current liabilities
8,560
8,536
Operating lease current liabilities
2,673
2,462
Deferred revenue
491
288
Total current liabilities
$
12,385
$
12,144
Warrants
33,167
28,707
Operating lease noncurrent liabilities
12,337
14,352
Long-term debt, net
273,589
54,621
Other long-term liabilities
1,776
1,795
Total liabilities
$
333,254
$
111,619
Stockholders’ equity:
Common Stock, authorized 500,000,000 shares; 135,504,497 and 131,268,940 shares issued and 135,372,269 and 131,136,712 shares outstanding at December 31, 2025 and 2024, respectively
$
15
$
14
Additional paid-in capital
961,991
912,241
Accumulated other comprehensive income
3,811
665
Accumulated deficit
(1,051,359)
(862,106)
Common stock in treasury, at cost, 132,228 shares at both December 31, 2025 and December 31, 2024.
(693)
(693)
Total stockholders’ equity (deficit)
$
(86,235)
$
50,121
Total liabilities and stockholders’ equity
$
247,019
$
161,740
NEXTNAV INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Year Ended December 31,
2025
2024
(in thousands, except per share amounts)
Revenue
$
4,573
$
5,669
Operating expenses:
Cost of goods sold (exclusive of depreciation and amortization)
8,540
10,777
Research and development
18,952
16,242
Selling, general and administrative
39,563
33,510
Depreciation and amortization
7,750
5,238
Total operating expenses
$
74,805
$
65,767
Operating loss
(70,232)
(60,098)
Other income (expense):
Interest expense, net
(12,443)
(9,401)
Debt extinguishment loss
(14,434)
—
Change in fair value of warrants
(5,701)
(33,177)
Change in fair value of derivative liability
(77,184)
—
Other income (loss), net
(9,061)
970
Loss before income taxes
$
(189,055)
$
(101,706)
Provision for income taxes
(198)
(173)
Net loss
$
(189,253)
$
(101,879)
Foreign currency translation adjustment
3,146
(1,533)
Comprehensive loss
$
(186,107)
$
(103,412)
Net loss
$
(189,253)
$
(101,879)
Net loss attributable to common stockholders
$
(189,253)
$
(101,879)
Weighted average of shares outstanding – basic and diluted
132,866
121,500
Net loss attributable to common stockholders per share – basic and diluted
$
(1.42)
$
(0.84)
NEXTNAV INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended December 31,
2025
2024
(in thousands)
Operating activities
Net loss
$
(189,253)
$
(101,879)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
7,750
5,238
Equity-based compensation
16,637
13,856
Change in fair value of warrants
5,701
33,177
Debt extinguishment loss
13,734
—
Issuance of common warrants
9,006
—
Change in fair value of derivative liability
77,184
—
Change in fair value of asset purchase agreement liability
—
(966)
Realized and unrealized gain on short term investments
(3,066)
(888)
Equity method investment (gain)loss
(58)
175
Asset retirement obligation accretion
104
76
Amortization of debt discount
9,566
6,174
Changes in operating assets and liabilities:
Accounts receivable
955
(969)
Other current assets
(231)
388
Other assets
167
110
Accounts payable
(197)
467
Deferred revenue
203
(9)
Accrued expenses and other liabilities
362
5,990
Operating lease right-of-use assets and liabilities
691
1,052
Net cash used in operating activities
$
(50,745)
$
(38,008)
Investing activities
Purchases of network assets, property, and equipment
(50)
(350)
Purchase of equity method investment
(550)
—
Purchase of internal use software
(424)
(442)
Purchase of marketable securities
(281,530)
(82,443)
Sale and maturity of marketable securities
218,000
46,500
Payment for asset purchase agreement liability
—
(2,732)
Net cash used in investing activities
$
(64,554)
$
(39,467)
Financing activities
Proceeds from 2028 senior convertible notes
190,000
—
Repayment of 2026 senior secured notes
(70,700)
—
Payments towards debt issuance cost
(1,517)
—
Payments towards debt
(116)
(111)
Proceeds from exercise of common stock options
1,957
3,787
Proceeds from exercise of common warrants
858
31,387
Redemption of non-controlling interests
—
40
Net cash provided by financing activities
$
120,482
$
35,103
Effect of exchange rates on cash and cash equivalents
244
(176)
Net increase (decrease) in cash and cash equivalents
5,427
(42,548)
Cash and cash equivalents at beginning of period
39,330
81,878
Cash and cash equivalents at end of period
$
44,757
$
39,330
Supplemental disclosures
Issuance of shares for asset purchase agreement
$
20,394
$
—
Issuance of warrants
$
9,006
$
—
Interest paid in cash
$
8,694
$
3,502
Reclassification of warrant liability to common stock warrants
$
1,241
$
11,523
Income taxes paid, net
$
186
$
195
Interest paid in shares
$
—
$
3,842
View source version on businesswire.com: https://www.businesswire.com/news/home/20260317607453/en/
Sloane & Company
nextnav@sloanepr.com
Original: NextNav Inc. Reports Fourth Quarter and Full Year 2025 Results and Operational Highlights
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