NAVN

EX-99.1

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EX-99.1

Document

Navan Announces First Quarter Fiscal Year 2027 Results

Revenue Growth Accelerates to 40% Year-Over-Year with $220 million in Revenue

Gross Booking Volume (“GBV”) Surges 50% Year-Over-Year to a Record $3.1 billion

Raises Fiscal Year 2027 Guidance to 30% Year-Over-Year Revenue Growth, from 24% Previously

PALO ALTO, CA, June 10, 2026 — Navan, Inc. (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today reported financial results for its first quarter ended April 30, 2026.

Management Commentary:

“Navan kicked off fiscal 2027 with an outstanding first quarter, driven by accelerating growth across the business and a 50% year-over-year increase in Gross Booking Volume," said Ariel Cohen, Navan co-founder and CEO. "Our strong performance and continued enterprise momentum give us the confidence to raise our guidance for the fiscal year. We are executing exceptionally well and leveraging our proprietary, AI-led platform to deliver an unmatched customer experience at scale, seamlessly orchestrating human and AI agents. We are not just building the best travel agency on the planet; we are working to define the future of travel.”

“Navan delivered an exceptional first quarter, highlighted by revenue growth of 40% year-over-year, and GBV growth of 50% year-over-year, surpassing the $3 billion milestone,” said Aurélien Nolf, Navan CFO. “The strength was driven by very resilient on-platform booking activity, strong new-customer ramps, and rapidly expanding payments volume. This growth enabled us to deliver meaningful gross and operating margin expansion, underscoring the leverage potential in our business as we scale. With a strong balance sheet and accelerating momentum across the business, we are raising both our FY’27 revenue and non-GAAP operating profit outlook.”

First Quarter Fiscal Year 2027 Financial Highlights:

Revenue

•Total Revenue was $220 million, an increase of 40% year-over-year

◦Usage revenue was $202 million, an increase of 41% year-over-year

◦Subscription revenue was $18 million, an increase of 26% year-over-year

◦Gross Booking Volume grew 50% year-over-year, to $3.1 billion in the quarter

◦Payment Volume grew 29% year-over-year, to $1.3 billion in the quarter

Gross Profit

•GAAP gross profit reached $163 million, representing 74% gross margin, compared to $112 million, or 71% gross margin in the first quarter of fiscal year 2026

•Non-GAAP gross profit was $165 million, representing 75% non-GAAP gross margin, compared to $113 million, or 72% non-GAAP gross margin in the first quarter of fiscal year 2026

Income (Loss) from Operations

•GAAP loss from operations was $18 million, compared to a loss from operations of $16 million in the first quarter of fiscal year 2026; GAAP operating margin was (8)%, compared to (10)% in the first quarter of fiscal year 2026

•Non-GAAP income from operations was $24 million, compared to non-GAAP income from operations of $3 million in the first quarter of fiscal year 2026; non-GAAP operating margin was 11%, compared to 2% in the first quarter of fiscal year 2026

Net Income (Loss)

•GAAP net loss was $21 million, compared to a net loss of $61 million in the first quarter of fiscal year 2026

•Non-GAAP net income was $22 million, compared to a non-GAAP net loss of $7 million in the first quarter of fiscal year 2026

Recent Business Highlights:

•Unveiled Navan Anywhere: Enabling Navan customers to book wherever and however they want without friction by embedding Navan directly into the tools that employees already use every day. Travelers that have Gemini Enterprise and Navan at work will be able to book their travel with Navan through Gemini Enterprise. Navan plans to expand the footprint of Navan Anywhere, with rollout of seamless access across additional corporate platforms and third-party user interfaces later this year.

•Launched New AI-Powered Features: Saving companies time and money through Travel Admin Companion, Expense Admin Companion, and Book with AI. Also launched AI-powered Audit Engine, which provides real-time protection against high-stakes threats.

•Continued Enterprise Momentum: Winning the enterprise market by partnering with companies like Allegiant, Criteo, Schindler, and Simplot to modernize their travel and expense programs.

•Hosted Inaugural Customer Conference, Navigate: Welcoming more than 400 travel, finance, and procurement leaders from companies around the world to chart the future of travel and expense.

•Announced New Distribution Capability (NDC) with Scandinavian Airlines (SAS): Unlocking savings by providing an expanded portfolio of SAS fares and services to Navan customers, as Navan became the first Travel Management Company (TMC) to access SAS NDC content via a direct connection.

Financial Outlook:

For the second quarter of fiscal year 2027 (ending July 31, 2026), Navan currently expects:

•Total revenue in the range of $219 - $221 m

navn-20260325

0001639723False00016397232026-03-252026-03-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 25, 2026

NAVAN, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware001-4292247-3424780

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

3045 Park Boulevard

Palo Alto, California 94306

(Address of Principal Executive Offices)(Zip Code)

(888) 505-8747

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, $0.00000625 par valueNAVNThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On March 25, 2026, Navan, Inc. (the “Company”) issued a press release announcing financial results for the fiscal quarter and year ended January 31, 2026 and other business highlights. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure

On March 25, 2026, the Company posted supplemental investor materials, including prepared remarks and a slide presentation, on its investors.navan.com website.

The information in Items 2.02 and 7.01 of this Current Report on Form 8-K and the Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly incorporated by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d)Exhibits

Exhibit No.Description

99.1

Press Release dated March 25, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Navan, Inc.

Dated: March 25, 2026

By:/s/ Ariel Cohen

Ariel Cohen

Chief Executive Officer

navn-20251212

0001639723False00016397232025-12-122025-12-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 12, 2025

NAVAN, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware001-4292247-3424780

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

3045 Park Boulevard

Palo Alto, California 94306

(Address of Principal Executive Offices)(Zip Code)

(888) 505-8747

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, $0.00000625 par valueNAVNNasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.    Results of Operations and Financial Condition

On December 15, 2025, Navan, Inc. (the “Company”) issued a press release announcing financial results for the fiscal quarter ended October 31, 2025 and other business highlights. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information contained in this Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly incorporated by specific reference in such a filing.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective January 9, 2026, Amy Butte will depart as Chief Financial Officer of the Company, and Anne Giviskos, the Company’s Senior Vice President, Strategic Finance and Chief Accounting Officer, will serve as the Company’s Interim Chief Financial Officer while the Company conducts its search for a full-time Chief Financial Officer. Ms. Butte’s departure was not the result of any disagreement with the Company.

Chief Financial Officer Departure

In connection with Ms. Butte’s departure, the Company and Ms. Butte entered into a transition agreement (the “Butte Agreement”) pursuant to which Ms. Butte will step down as Chief Financial Officer on January 9, 2026 (the “Transition Date”) and remain at the Company as an advisor through the earlier of the appointment of a full-time Chief Financial Officer and May 1, 2026 (such earlier date, the “Separation Date”). In exchange, the Company will provide certain benefits to Ms. Butte, including: (i) accelerated vesting of 100% of the unvested portion of outstanding restricted stock units and stock options held by Ms. Butte on the Separation Date, six months’ base salary, continued benefits for six months, the prorated portion of Ms. Butte’s target annual bonus amount for the fiscal year ended January 31, 2027, and an extension of the post-termination exercise period for Ms. Butte’s outstanding stock option through such stock option’s expiration date, in each case so long as Ms. Butte has not been terminated for cause or resigned without good reason prior to the Separation Date, (ii) eligibility to receive a new stock option grant to be made in the first quarter of fiscal 2027, subject to Ms. Butte’s continued service through such date and certain other conditions, in an amount to be determined by the Company’s board of directors, and (iii) a one-time cash payment of $3,700,000, less applicable tax deducti