Navan presents a classic high-growth, pre-profitability software profile, with revenue accelerating to 35.4% YoY in Q2 2026. The primary bull case rests on scaling a consolidated travel and expense platform, evidenced by gross margin expansion to 74.1% and rec...
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Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth accelerated to 35.4% YoY in Q2 2026 alongside a 910 basis point gross margin expansion to 74.1% since Q1 2024, yet the company reported an operating loss of -$27.6M, indicating a lack of operating leverage.
Navan leverages AI to streamline business travel and expense management, offering a competitive edge in the corporate travel sector.
With over 10,000 companies using its platform, Navan demonstrates widespread adoption and trust in its solutions.
Navan's platform provides employees with flexibility to book, update, or cancel trips, enhancing user experience and operational efficiency.
Trailing total returns as of 10/2/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Sep 9, 2026 | $0.05+21.9% vs $0.04 | $233M+5.6% vs $220M |
Q3 2026 Aug 12, 2026 | -$0.11-368.1% vs $0.04 | $233M+5.6% vs $220M |
Q3 2026 Jun 10, 2026 | $0.08+1441.4% vs $0.01 | $220M+7.3% vs $205M |
Q2 2026 Mar 25, 2026 | $0.02+133.3% vs -$0.06 | $178M+9.7% vs $162M |
Navan Inc. NASDAQ: NAVN wouldn't be the first company investors would think of as a target of the recent sell-off of artificial intelligence names. But that may be part of the trouble facing NAVN after the company's Q2 earnings report for its 2027 fiscal year.
Navan (NASDAQ: NAVN) reported second-quarter revenue of $233 million, up 35% from a year earlier, as travel bookings on its platform continued to expand and the company cited growing adoption of its travel, payments and expense-management products. Total gross booking value, or GBV, exceeded $3 billion during the quarter, rising 45% year over year. Chief Financial
Navan, Inc. (NAVN) Q2 2027 Earnings Call Transcript
Navan beat sales and earnings expectations for fiscal Q2. The company also raised its guidance for full-year sales and adjusted operating income.
Benchmark NAVN against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Navan, Inc. (NAVN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $21.50 | $5.14B | -5.28 | 30.82% | -56.68% | -60.2% | — | |
| $5.05 | $356.03M | 29.69 | 19.11% | 2.14% | 6.22% | — | |
| $47.75 | $4.49B | 101.60 | 6.71% | 3.23% | — | — | |
| $1.99 | $786.67M | 1.49 | -8.54% | 25.14% | — | — | |
| $262.67 | $30.08B | 26.78 | 7.61% | 12.97% | 86.21% | — | |
| $160.28 | $124.2B | 24.21 | 13.39% | 25.53% | — | — |
Navan, Inc. (NAVN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Navan, Inc. (NAVN) SEC filings — annual & quarterly reports (10-K, 10-Q)
Sep 9, 2026·SEC
Apr 17, 2026·SEC
Mar 25, 2026·SEC
Apr 2, 2026·SEC
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Navan, Inc. (NAVN) stock FAQ — growth, dividends, profitability & financials explained
Navan, Inc. (NAVN) reported $825.9M in revenue for fiscal year 2025. This represents a 105% increase from $402.3M in 2023.
Navan, Inc. (NAVN) grew revenue by 30.8% over the past year. This is strong growth.
Navan, Inc. (NAVN) reported a net loss of $347.8M for fiscal year 2025.
Navan, Inc. (NAVN) has a return on equity (ROE) of -60.2%. Negative ROE indicates the company is unprofitable.
Navan, Inc. (NAVN) generated $40.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
