Navan, Inc.
For the period ended Apr 30, 2026. Filed Jun 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Apr 30, 2026 · Filed Jun 11, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|---|
| For the quarterly period ended April 30, 2026 | |
| OR | |
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| For the transition period from ________ to ________ | |
| Commission File Number: 001-42922 |
NAVAN, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 47-3424780 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |
| 3045 Park Boulevard, Palo Alto, California | 94306 |
| (Address of principal executive offices) | (Zip Code) |
| (888) 505-8747 | |
| Registrant’s telephone number, including area code | |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Class A Common Stock, par value $0.00000625 per share | NAVN | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ☒ No ☐
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☐ |
| 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 7(a)(2)(B) of the Securities Act.
☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).
Yes ☐ No☒
As of June 4, 2026, Navan, Inc. had outstanding 239,026,566 shares of Class A common stock, par value of $0.00000625, and 15,304,696 shares of Class B common stock, par value $0.00000625.
TABLE OF CONTENTS
| Page | ||
|---|---|---|
| Special Note Regarding Forward-Looking Statements | 2 | |
| Summary of Risk Factors | 5 | |
| PART 1. | FINANCIAL INFORMATION | |
| Item 1. | Financial Statements (Unaudited) | |
| Condensed Consolidated Balance Sheets | 7 | |
| Condensed Consolidated Statements of Operations | 9 | |
| Condensed Consolidated Statements of Comprehensive Loss | 10 | |
| Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) | 11 | |
| Condensed Consolidated Statements of Cash Flows | 12 | |
| Notes to Condensed Consolidated Financial Statements | 14 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 36 |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 53 |
| Item 4. | Controls and Procedures | 54 |
| PART II | OTHER INFORMATION | |
| Item 1. | Legal Proceedings | 55 |
| Item 1A. | Risk Factors | 55 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 107 |
| Item 3. | Defaults Upon Senior Securities | 107 |
| Item 4. | Mine Safety Disclosures | 107 |
| Item 5. | Other Information | 107 |
| Item 6. | Exhibits | 108 |
| Signatures | 109 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.