Navan, Inc.NAVN

NasdaqTechnologyServices-Prepackaged Software
Price (close)
$19.43
Market cap
$904.4M
P/E
—
Revenue (TTM)
$825.9M
Net income
-$347.8M
Dividend yield
—
1-year total return
—
Net margin
-42.1%
Revenue growth
34.8%
Debt / equity
0.09x

What Navan, Inc. does.

Navan is a global AI-powered business travel and expense platform. We leverage technology to reimagine business travel and deliver personalized experiences for users, efficiency and control for customers, and direct market access for suppliers—all powered by our proprietary AI framework, Navan Cognition.

We identified the challenges of legacy travel and expense management systems, and built Navan on the premise that to win, all players in the ecosystem - users, customers, and suppliers - must be integrated on one platform with AI at its core. Our platform was built from the ground up to connect distinct stakeholders, and unify traditionally disparate product features, through a single system that unlocks new efficiencies and experiences. By building true connectivity into the core of our cohesive offering, the Navan platform unlocks a smarter, more rewarding future for travel—one where everyone wins.

The Navan platform creates a powerful flywheel effect where the user, customer, and supplier benefits reinforce each other. Our enterprise-grade platform is characterized by its intuitive design, ease of use, and tangible time-saving features, which foster a user-centric experience that travelers genuinely appreciate. This is reflected in our overall customer satisfaction score (“CSAT”) score of 96%, our virtual agent CSAT score of 81%, which is on par with human agent performance, and net promoter score (“NPS”) of 45, each for the year ended January 31, 2026. When frequent travelers have a positive, efficient experience and earn rewards, they are more likely to use Navan. Our platform provides customers with greater visibility into spending, stronger policy control, and cost savings, making them more invested in the platform. This, in turn, attracts more suppliers who want access to our large and loyal user base. With more suppliers and inventory available, we can offer better options and competitive pricing, further enhancing the experience for frequent travelers. This cycle strengthens the flywheel, creating a robust and self-sustaining ecosystem.

Revenue and profit, by fiscal year.

Fiscal year2023202420252026
Revenue—$402.3M$536.8M$702.3M
Net income—-$331.6M-$181.1M-$398.0M
Free cash flow—-$166.9M-$51.4M$32.8M

More on NAVN.

Figures from Navan, Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.