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NAVN · NASDAQ · Software - Application

Navan

Unifies corporate travel booking, payments, and expense management on one platform.

$28.57

After-hours close+0.05 (+0.19%)

At close$28.52(−6.75%)

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Profile

Navan, Inc.NAVNInformation Technology

Unifies corporate travel booking, card payments, expense automation, and managed services for businesses worldwide. Revenue comes mainly from travel transactions and supplier commissions, with additional card-volume fees and expense subscriptions; operations depend on corporate travel demand and third-party travel and payment networks.

Combines corporate travel booking, payments, and expense management in one platform. Travel covers flights, hotels, rail, and rental cars; Corporate Payments provides virtual and physical cards; Expense Management automates policy controls and reconciliation. Meetings and Events, VIP, and Bleisure add group, high-touch, and work-linked personal travel.

Serves small businesses through global enterprises, with most revenue from US customers and a meaningful international presence. Navan Cloud aggregates real-time inventory from suppliers and distribution partners, while Navan Cognition applies machine learning and virtual agents across booking, service, and expense workflows.

Earns transaction fees, supplier commissions, card-volume fees, and expense subscriptions. Revenue remains primarily driven by travel volume; operations also depend on travel inventory, issuing partners, ticketing licenses, and payment and data-privacy rules.

Company facts

CEOAriel Cohen

ListedOct 30, 2025

ExchangeNASDAQ

HeadquartersPalo Alto, CA

CountryUnited States

Employees3,700

CIK0001639723

ISINUS6391931010

Key statistics

Market cap$6.81B

EPS (ttm)−$5.11

P/E (ttm)−5.58

ROE-38.0%

P/B5.77

P/S8.90

Dividend yield—

Beta1.08vs XLK −0.13

Year to date +75.5% · Average volume (30d) 2.4M

Analysts

Price target, next 12 months$30.00+5.3%Median of 14 analysts · vs the Aug 28 close

ConsensusBuy14 of 14 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $28.50

High$35.00+22.8%

Median$30.00+5.3%

Low$23.00−19.3%

10 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 27, 2026	Oppenheimer	Reiterate	Outperform	$30	$35
Jul 13, 2026	BNP Paribas	Reiterate	Outperform	$24	$30
Jun 11, 2026	Oppenheimer	Target		$28	$30
Jun 11, 2026	BMO Capital	Reiterate	Outperform	$22	$30
Jun 11, 2026	BTIG	Reiterate	Buy	$26	$30

Earnings

EPS

Estimate$0.04

ReportedDue Sep 30, 2026

Revenue

Estimate$220.5M

ReportedDue Sep 30, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Jun 10, 2026Q1 FY26	$0.01	$0.08	+1,441.4%	$205.3M	$220.2M	+7.3%	+8.43%
Mar 25, 2026Q4 FY25	−$0.06	$0.02	+133.3%	$162.2M	$177.9M	+9.7%	+43.28%
Dec 15, 2025Q3 FY25	−$0.08	$0.14	+281.8%	$182.0M	$194.9M	+7.1%	−11.89%
Oct 10, 2025Q2 FY25	—	−$0.18	—	—	$172.0M	—	—

View details

Financial highlights

	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26
Revenue	$132.0M	$157.5M	$172.0M	$194.9M	$177.9M	$220.2M
Gross profit	$88.0M	$111.8M	$125.0M	$137.9M	$125.8M	$163.1M
Operating income	−$32.8M	−$15.9M	−$12.3M	−$79.2M	−$89.5M	−$18.1M
Net income	−$46.7M	−$61.3M	−$38.6M	−$225.4M	−$72.8M	−$20.5M
Diluted EPS	−$0.19	−$0.25	−$0.16	−$4.58	−$0.29	−$0.08
Gross margin	66.7%	71.0%	72.7%	70.7%	70.7%	74.0%
Operating margin	-24.9%	-10.1%	-7.1%	-40.6%	-50.3%	-8.2%

Fiscal years (4-quarter sums)FY23 $402.3M · FY24 $536.8M · FY25 $702.3M

Revenue by product · FY25

Subscription Revenue$61.9M · 100%

Revenue by geography · FY25

United States$435.8M · 78%

Other Geographical Areas$120.5M · 22%

Balance sheet, Apr 30, 2026Cash & short-term investments $802.3M · Total debt $172.5M · Total assets $1.71B · Shareholders' equity $1.24B

Dividends

No dividends on record.

Ownership

Institutions 70.65%Insiders —

Shares outstanding 239.03M · Float 43.37M · 18.1% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Lightspeed Management Company, L.L.C.	41.70M	17.45%	13F	Aug 14, 2026
Ah Capital Management, L.L.C.	28.22M	11.81%	13F	Aug 14, 2026
Lightspeed Venture Partners X, L.P.	23.37M	10.00%	13G	Feb 17, 2026
Cosmic Management, LLC	7.14M	2.99%	13F	Aug 13, 2026
BlackRock, Inc.	6.70M	2.80%	13F	Aug 7, 2026

Insider tradesForm 4

Nothing filed in the last 12 months.