Navan, Inc. (NAVN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2027, filed Sep 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NAVN SEC filings page.
Navan, Inc. (NAVN) reported $825.9M in revenue over the twelve months to Jul 31, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Navan’s gross economics are improving while expanding costs and financing activity reshape how the business operates.
The key earnings-quality split is that FY2026 paired a net loss of$398M with operating cash flow of$33.7M , unlike FY2025, when operating cash flow was negative. Free cash flow of$32.8M represented a4.7% margin, so accounting losses are not translating directly into current-period cash outflow, although cash generation remains modest relative to sales.
Gross margin reached
The capital structure changed sharply between FY2025 and FY2026: equity moved from
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Navan, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Navan, Inc. has an operating margin of -28.0%, meaning the company loses $28 on every $100 of revenue. This results in a profitability score of 22/100. This is down from -20.1% the prior year.
Navan, Inc.'s revenue surged 30.8% year-over-year to $702.3M, reflecting rapid business expansion. This strong growth earns a score of 91/100.
Navan, Inc. carries a low D/E ratio of 0.10, meaning only $0.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 80/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.07, Navan, Inc. holds $4.07 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 88/100.
Navan, Inc.'s free cash flow margin of 4.7% results in a low score of 13/100. Capital expenditures of $917K absorb a large share of operating cash flow.
Navan, Inc. posts a -33.0% return on equity (ROE), meaning it loses $33 for every $100 of shareholders' equity. This results in a returns score of 39/100.
Navan, Inc. scores 7.38, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($6.9B) relative to total liabilities ($500.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Navan, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Navan, Inc. reported a net loss of $398.0M while generating $33.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Navan, Inc. reported an operating loss of $196.9M against $51.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Navan, Inc. generated $232.8M in revenue in Q2 2027. This represents an increase of 35.4% from the same quarter a year earlier. Against the prior quarter it is up 5.7%.
Navan, Inc.'s EBITDA was -$19.7M in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 229.0% from the same quarter a year earlier. Against the prior quarter it is down 58.8%.
Navan, Inc. reported -$29.1M in net income in Q2 2027. This represents an increase of 24.6% from the same quarter a year earlier. Against the prior quarter it is down 42.0%.
Navan, Inc. earned -$0.11 per diluted share (EPS) in Q2 2027. Against the prior quarter it is down 37.5%.
Cash & Balance Sheet
Navan, Inc. generated $24.3M in free cash flow in Q2 2027, representing cash available after capex. This represents an increase of 17872.6% from the same quarter a year earlier. Against the prior quarter it is up 451.5%.
Navan, Inc. held $653.0M in cash as of Q2 2027; long-term debt is not reported for that period.
Not reported for Q2 2027.
Margins & Returns
Navan, Inc.'s gross margin was 74.1% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.
Navan, Inc.'s operating margin was -11.0% in Q2 2027, reflecting core business profitability. This is down 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.8 percentage points.
Navan, Inc.'s net profit margin was -12.5% in Q2 2027, showing the share of revenue converted to profit. This is up 10.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.2 percentage points.
Navan, Inc.'s ROE was -2.2% in Q2 2027, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 0.6 percentage points.
Capital Allocation
Navan, Inc. invested $47.2M in research and development in Q2 2027. This represents an increase of 41.5% from the same quarter a year earlier. Against the prior quarter it is up 19.8%.
Navan, Inc. invested $923K in capex in Q2 2027, funding long-term assets and infrastructure. This represents an increase of 841.8% from the same quarter a year earlier. Against the prior quarter it is up 779.0%.
Not reported for Q2 2027.
NAVN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $232.8M+35.4% | $220.2M+39.9% | $177.9M | $194.9M+29.0% | $172.0M | $157.5M | N/A | $151.1M |
| Cost of Revenue | $60.3M+28.6% | $57.2M+25.2% | $52.1M | $57.1M+28.2% | $46.9M | $45.7M | N/A | $44.5M |
| Gross Profit | $172.5M+37.9% | $163.1M+45.9% | $125.8M | $137.9M+29.3% | $125.0M | $111.8M | N/A | $106.6M |
| R&D Expenses | $47.2M+41.5% | $39.4M+25.5% | $35.3M | $51.2M+55.1% | $33.4M | $31.4M | N/A | $33.0M |
| SG&A Expenses | $48.4M+36.6% | $49.9M+44.9% | $62.7M | $70.9M+102.9% | $35.4M | $34.4M | N/A | $35.0M |
| Operating Income | -$25.6M-108.6% | -$18.1M-13.9% | -$89.5M | -$79.2M-307.2% | -$12.3M | -$15.9M | N/A | -$19.5M |
| EBITDA | -$19.7M-229.0% | -$12.4M-24.3% | -$47.4M | -$73.3M | -$6.0M | -$10.0M | N/A | N/A |
| Interest Expense | $2.9M-81.4% | $2.8M-82.7% | $3.8M | $15.5M-21.0% | $15.6M | $16.3M | N/A | $19.7M |
| Income Tax | $2.8M-20.4% | $802K-82.1% | -$9.4M | $3.5M-33.0% | $3.6M | $4.5M | N/A | $5.2M |
| Net Income | -$29.1M+24.6% | -$20.5M+66.5% | -$72.8M | -$225.4M-438.2% | -$38.6M+10.0% | -$61.3M-23.4% | N/A | -$41.9M |
| EPS (Basic) | -$0.11+86.7% | -$0.08+94.0% | $2.87+378.6% | -$4.58-397.8% | -$0.83 | -$1.33 | -$1.03 | -$0.92 |
| EPS (Diluted) | -$0.11 | -$0.08 | $2.87+378.6% | -$4.58-397.8% | -$0.83 | -$1.33 | -$1.03 | -$0.92 |
| Diluted Shares (Avg) | 256M | 250M | N/A | 49M+8.7% | 47M | 46M | N/A | 45M |
NAVN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.8B | $1.7B | $1.7B+57.6% | $1.8B | N/A | N/A | $1.1B | N/A |
| Current Assets | $1.4B | $1.3B | $1.3B+89.7% | $1.4B | N/A | N/A | $688.9M | N/A |
| Cash & Equivalents | $653.0M+107.0% | $518.4M+36.7% | $583.5M+270.1% | $809.1M+164.5% | $315.5M+18.0% | $379.1M | $157.7M | $305.9M |
| Short-Term Investments | $167.0M | $162.2M | $157.0M | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $212.5M | $226.4M | $215.9M+16.8% | $220.0M | N/A | N/A | $184.9M | N/A |
| Long-Term Investments | $356.9M | $230.0M | $327.6M | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $236.8M | $237.5M | $241.3M+9.8% | $232.9M | N/A | N/A | $219.7M | N/A |
| Total Liabilities | $495.4M | $477.6M | $500.7M-78.0% | $573.8M | N/A | N/A | $2.3B | N/A |
| Current Liabilities | $321.0M | $305.0M | $320.9M-28.0% | $307.1M | N/A | N/A | $446.0M | N/A |
| Non-Current Liabilities | $174.4M | $172.5M | $179.8M-90.1% | $266.7M | N/A | N/A | $1.8B | N/A |
| Long-Term Debt | N/A | $124.5M | $124.8M-79.8% | $206.6M-66.6% | N/A | N/A | $617.9M | $617.9M |
| Total Equity | $1.3B+208.9% | $1.2B+203.8% | $1.2B+201.8% | $1.2B+206.4% | -$1.2B-6.7% | -$1.2B-6.7% | -$1.2B | -$1.1B |
| Retained Earnings | -$2.1B | -$2.0B | -$2.0B-24.6% | -$1.9B | N/A | N/A | -$1.6B | N/A |
Not reported in any period shown, so not listed: Inventory.
NAVN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $25.2M+10709.4% | -$6.8M-249.4% | $35.0M+491.4% | -$6.1M | $233K | $4.6M | -$8.9M | N/A |
| Depreciation & Amortization | $5.9M-6.0% | $5.7M-3.5% | $42.1M+595.4% | $5.9M | $6.3M | $5.9M | $6.1M | N/A |
| Stock-Based Compensation | $41.9M+124.4% | $37.3M+116.2% | N/A | $99.2M+303.6% | $18.6M | $17.3M | N/A | $24.6M |
| Capital Expenditures | $923K+841.8% | $105K+16.7% | $328K+49.1% | $401K | $98K | $90K | $220K | N/A |
| Free Cash Flow | $24.3M+17872.6% | -$6.9M-254.7% | $34.7M+478.4% | -$6.5M | $135K | $4.5M | -$9.2M | N/A |
| Investing Cash Flow | $4.6M+156.4% | -$28.7M-909.5% | -$153.5M-465.8% | -$38.5M | -$8.2M | -$2.8M | $42.0M | N/A |
| Financing Cash Flow | $74.2M+233.9% | $14.0M-77.4% | -$110.7M-340.5% | $624.0M | -$55.4M | $62.0M | -$25.1M | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
NAVN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.1%+1.4pp | 74.0%+3.0pp | 70.7% | 70.7%+0.2pp | 72.7% | 71.0% | N/A | 70.5% |
| Operating Margin | -11.0%-3.8pp | -8.2%+1.9pp | -50.3% | -40.6%-27.8pp | -7.1% | -10.1% | N/A | -12.9% |
| Net Margin | -12.5%+10.0pp | -9.3%+29.6pp | -40.9% | -115.6% | -22.5% | -38.9% | N/A | -27.7% |
| Return on Equity | -2.2% | -1.7% | -6.0% | -18.5% | N/A | N/A | N/A | N/A |
| Return on Assets | -1.6% | -1.2% | -4.3% | -12.6% | N/A | N/A | N/A | N/A |
| Current Ratio | 4.38 | 4.31 | 4.07+2.5x | 4.49 | N/A | N/A | 1.54 | N/A |
| Debt-to-Equity | 0.38 | 0.10 | 0.10 | 0.17 | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.13 | 0.13 | 0.10 | 0.11 | N/A | N/A | N/A | N/A |
| FCF Margin | 10.4%+10.3pp | -3.1%-6.0pp | 19.5% | -3.3% | 0.1% | 2.8% | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.