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Nasdaq · Technology

Navan, Inc. (NAVN)

As-reported financials and SEC filings for Navan, Inc. The latest annual period is FY2026. The latest reported quarter is Q1 FY2027. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Navan, Inc.

Navan, Inc. operates a global AI-powered business travel and expense platform that integrates travel booking, expense management, and payments into a single system. The platform serves corporate travelers and their organizations by providing real-time access to travel inventory from airlines, hotels, and other suppliers, along with AI-driven virtual agents that automate tasks such as booking and expense tracking. Navan's services aim to improve efficiency, policy compliance, and cost control for businesses of all sizes.

Snapshot

Revenue
$702.3M
Revenue growth (YoY)
30.8%
Net income
$-398.0M
Diluted EPS
$-4.07
Gross margin
71.3%
Operating margin
-28.0%
Net margin
-56.7%
FCF margin
4.7%
ROE
-32.9%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$6.95B
Long-term debt / equity
0.10×
non-current term debt only

Fundamentals are from SEC filings for FY2026, the latest annual period (ended January 31, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Navan

  • Revenue grew 30.8% to $702M in FY2026, slower than the 33.5% the year before.
  • Operating margin is -28.0% in FY2026, +33.2 pp against -61.2% in FY2024.
  • Most recent quarter Q1 FY2027: revenue $220M, up 39.9% from Q1 FY2026.
  • Free cash flow was $33M in FY2026, 4.7% of revenue.
  • Net loss widened to $398M in FY2026, from $181M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Navan’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin71.3%
57th percentile of 264
Operating margin-28.0%
12th percentile of 303
Net margin-56.7%
4th percentile of 307
FCF margin4.7%
29th percentile of 285
Revenue growth (YoY)+30.8%
85th percentile of 325
ROE-32.9%
18th percentile of 285
Long-term debt / equity0.10×
20th percentile of 127
Short interest4.60d
66th percentile of 330

Navan’s net margin of -56.7% ranks in the 4th percentile of the 307 software companies reporting it. Navan’s operating margin of -28.0% ranks in the 12th percentile of the 303 software companies reporting it. Navan’s revenue growth of +30.8% ranks in the 85th percentile of the 325 software companies reporting it.

No reported insider purchases (code P) in the last 90 days; 35 insider sales totaling $164.2M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+6 quant / multi-strat
Initiated / added
6
3 new, 3 added
Reduced / exited
1
1 trimmed, 0 exited
Combined position
$132.0M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$98.3M4.3MAdded
Citadel AdvisorsquantQ2 2026$14.8M646.2KAdded
Two Sigma InvestmentsquantQ2 2026$9.6M418.3KNew
Point72 Asset ManagementquantQ2 2026$3.9M171.3KNew
Renaissance TechnologiesquantQ2 2026$2.9M125.7KReduced
AQR Capital ManagementquantQ2 2026$2.3M102.4KAdded
Gotham Asset ManagementQ2 2026$204,7789.0KNew

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
35
$164.2M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-27
filed 2026-08-31
Cohen Ariel M.Chairperson and CEOSell168.4K$30.14$5.1M
2026-08-27
filed 2026-08-31
Cohen Ariel M.Chairperson and CEOSell75.0K$30.14$2.3M
2026-08-27
filed 2026-08-31
Cohen Ariel M.Chairperson and CEOSell75.0K$30.14$2.3M
2026-08-27
filed 2026-08-31
Cohen Ariel M.Chairperson and CEOSell75.0K$30.14$2.3M
2026-07-08
filed 2026-07-09
Lightspeed Venture Partners X, L.P.10% ownerSell9.0K$25.36$228K
2026-07-08
filed 2026-07-09
Lightspeed Venture Partners Select II, L.P.10% ownerSell9.0K$25.36$228K
2026-07-01
filed 2026-07-02
Lightspeed Venture Partners X, L.P.10% ownerSell10.6K$24.65$261K
2026-07-01
filed 2026-07-02
Lightspeed Venture Partners Select II, L.P.10% ownerSell10.6K$24.65$261K
2026-06-22
filed 2026-06-23
Cohen Ariel M.Chairperson and CEOSell41.5K$21.06$875K
2026-06-22
filed 2026-06-23
Twig Ilan EzraChief Technology OfficerSell24.7K$21.06$521K
2026-06-22
filed 2026-06-23
Sindicich Michael EricPresidentSell2.2K$21.06$46K
2026-06-17
filed 2026-06-18
Lightspeed Venture Partners X, L.P.10% ownerSell48.0K$18.71$898K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
9.5M
settled 2026-08-14
Change vs prior
+7.4%
vs previous settlement
Days to cover
4.60
at avg daily volume
Avg daily volume
2.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-149.5M+7.4%4.60
2026-07-318.9M-11.4%2.86
2026-07-1510.0M-12.3%2.02
2026-06-3011.4M+106.0%1.90
2026-06-155.5M+18.9%1.06
2026-05-294.7M+13.4%1.35
2026-05-154.1M-31.0%1.11
2026-04-306.0M-17.3%2.86

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2026FY2025FY2024
Revenue$702.3M$536.8M$402.3M
Gross profit$500.5M$367.0M$239.6M
Operating income$-196.9M$-107.6M$-246.3M
Net income$-398.0M$-181.1M$-331.6M
Diluted EPS$-4.07$-4.00$-7.44

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2026FY2025FY2024
Cash and equivalents$583.5M$157.7M$166.4M
Current assets$1.31B$688.9M
Total assets$1.71B$1.08B
Current liabilities$320.9M$446.0M
Long-term debt$124.8M$617.9M
Total liabilities$500.7M$969.7M
Total equity$1.21B$-1.19B$-1.08B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2026FY2025FY2024
Operating cash flow$33.7M$-50.4M$-166.4M
Capital expenditure$917,000$994,000$561,000
Free cash flow$32.8M$-51.4M$-166.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2027$220.2M39.9%$-20.5M$-0.08
Q4 FY2026$177.9M34.8%$-72.8M$-0.29
Q3 FY2026$194.9M29.0%$-225.4M
Q2 FY2026$-38.6M
Q1 FY2026$157.5M$-61.3M
Q4 FY2025$132.0M$-46.7M
Q3 FY2025$151.1M$-41.9M
Q2 FY2025$-42.9M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryServices-Prepackaged Software
Latest annual periodFY2026 (ended January 31, 2026)
Latest reported quarterQ1 FY2027 (ended April 30, 2026)
Oldest indexed filing2015
SEC CIK1639723

Selected SEC filings

10-K2026-04-02
View on EDGAR →
10-Q2026-06-11
View on EDGAR →
8-K2026-06-26
View on EDGAR →
8-K2026-06-10
View on EDGAR →
8-K2026-04-17
View on EDGAR →
8-K2026-03-25
View on EDGAR →

Largest software peers

All software stocksAll Technology companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.