NAVN

Company Overview — What Does Navan, Inc. Do?

Travel is more than just getting from point A to point B; it's the lifeblood of connection in the modern business world. It's about forging those critical in-person relationships with clients and partners, sparking innovation through team collaboration, and empowering employees to grow and succeed. These moments matter, and they demand a travel experience worthy of their importance. We built Navan for the road warriors, for CEOs and CFOs who understand travel’s critical importance to their strategy, the finance teams who demand precision and control, the executive assistants juggling itineraries, and the program admins ensuring seamless events. Navan is an end-to-end, AI-powered software platform built to simplify the global business T&E experience, benefiting users, customers, and suppliers. From day one, we leveraged technology to reimagine business travel. We built a comprehensive platform that serves as the foundation for further disruption. We deliver delightful, 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 We saw firsthand the frustration of clunky, outdated systems. Travelers were forced to cobble together solutions, wait for hours on hold to book or change travel, and negotiate with travel agents. They struggled to adhere to company policies, with little visibility into those policies, and after all that, they spent even more time on tedious expense reports after a trip. We felt the pain of finance teams struggling to gain visibility into fragmented travel spending and to enforce policies, and the frustration of suppliers unable to connect directly with the high-value business travelers they sought to serve. Navan challenges this status quo by putting all three constituents—users, customers, and suppliers—at the heart of an integrated global platform. With Navan, users enjoy intuitive, AI-powered booking that anticipates users’ needs and takes a fraction of the time of legacy booking systems. Users also get expense management and clear policy guidance built-in. Customers gain real-time visibility, cost control, and safety oversight, and suppliers gain direct access to the customers who matter most. Instead of having to compromise, every group benefits, and the whole network becomes greater than the sum of its parts. Navan was built on the premise that to win, all players in the ecosystem 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 its cohesive offering, Navan is unlocking 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 CSAT score of 96%, our virtual agent CSAT score of 78%, which is on par with human agent performance, and NPS of 43, each for the six months ended July 31, 2025. When frequent travelers have a positive, efficient experience and earn rewards, they are more likely to use Navan. The increased adoption gives the customer 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 virtuous cycle strengthens each flywheel, creating a robust and self-sustaining ecosystem. Our proprietary infrastructure, which we call Navan Cloud, enables us to provide global, real-time inventory for users and forms the foundation of our platform. We aggregate supply through direct supplier relationships, real-time API integrations, and a robust network of partnerships. From day one, Navan has leveraged artificial intelligence as a cornerstone of our platform. We built Navan Cognition, a new paradigm in AI-powered travel management. This proprietary framework enables us to create, train, deploy, and supervise specialized virtual agents that can handle many complex tasks previously requiring human intervention. We make every step of the pre-booking, in-travel, and post-trip process as delightful and automated as possible. In fiscal 2025, 90% of bookings were made online or through mobile applications on the Navan platform. Our users on average are able to book a trip in seven minutes, far faster than the industry average of 45 minutes, according to Booking.com. And, in the majority of cases, users can resolve trip changes with a virtual agent, which Navan was one of the first in its industry to offer. Our strategy is to land a customer with our Travel offering, delight our users and customers, broaden their engagement with Navan, and seek to manage all of their payments, expenses, VIP needs, meetings and events, and bleisure travel on our platform. As of January 31, 2025, 36% of our customers attached to three or more offerings. Because Navan unifies all aspects of travel in one system, it is used by employees across departments and seniority levels, driving deep organizational adoption. This integrated approach streamlines trip planning, digitizes in-trip expenses, and automates post-trip reconciliation, all while enhancing the overall customer experience. Our platform also provides actionable analytics and intelligence for managers to monitor and approve travel and entertainment spend in real-time. Our platform is easy-to-use, yet powerful enough to address customers of all sizes across any industry vertical. Our proprietary AI framework, Navan Cognition, significantly enhances support capabilities and has improved our gross margins, while leveraging powerful technology capabilities across our platform, making Navan an increasingly formidable competitor. Our principal executive offices are located in Palo Alto, California. Navan, Inc. (NAVN) is classified as a mid-cap stock in the Technology sector, specifically within the Computer Software industry. The company is led by CEO Ariel Cohen and employs approximately 3,400 people, headquartered in PALO ALTO, California. With a market capitalization of $3.1B, NAVN is one of the notable companies in the Technology sector.

Navan, Inc. (NAVN) Stock Rating — Reduce (April 2026)

As of April 2026, Navan, Inc. receives a Reduce rating with a composite score of 31.6/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.NAVN ranks #2,856 out of 4,446 stocks in our coverage universe. Within the Technology sector, Navan, Inc. ranks #319 of 584 stocks, placing it in the lower half of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

NAVN Stock Price and 52-Week Range

Navan, Inc. (NAVN) currently trades at $12.50. The stock gained $0.02 (0.2%) in the most recent trading session. The 52-week high for NAVN is $22.75, which means the stock is currently trading -45.1% from its annual peak. The 52-week low is $8.71, putting the stock 43.5% above its annual trough. Recent trading volume was 1.1M shares, reflecting moderate market activity.

Is NAVN Overvalued or Undervalued? — Valuation Analysis

Navan, Inc. (NAVN) carries a value factor score of 26/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 2.59x, versus the sector average of 3.16x. The price-to-sales ratio is 1.11x, compared to 1.06x for the average Technology stock.

At current multiples, Navan, Inc. trades at a premium to most Technology peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Navan, Inc. Profitability — ROE, Margins, and Quality Score

Navan, Inc. (NAVN) earns a quality factor score of 35/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -131.8%, compared to the Technology sector average of -1.4%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -93.2% versus the sector average of -1.0%.

On a margin basis, Navan, Inc. reports gross margins of 71.3%, compared to 50.9% for the sector. The operating margin is -28.0% (sector: -0.5%). Net profit margin stands at -56.7%, versus -1.5% for the average Technology stock. Revenue growth is running at 29.0% on a trailing basis, compared to 14.2% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

NAVN Debt, Balance Sheet, and Financial Health

Navan, Inc. has a debt-to-equity ratio of 10.0%, compared to the Technology sector average of 43.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 4.07x, indicating strong short-term liquidity. Total debt on the balance sheet is $125M. Cash and equivalents stand at $809M.

NAVN has a beta of 0.92, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Navan, Inc. is 26/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Navan, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Navan, Inc. reported revenue of $702M and earnings per share (EPS) of $-4.07. Net income for the quarter was $-398M. Gross margin was 71.3%. Operating income came in at $-197M.

In FY 2026, Navan, Inc. reported revenue of $702M and earnings per share (EPS) of $-4.07. Net income for the quarter was $-398M. Gross margin was 71.3%. Operating income came in at $-197M.

In Q3 2026, Navan, Inc. reported revenue of $195M and earnings per share (EPS) of $-4.58. Net income for the quarter was $-225M. Gross margin was 70.7%. Revenue grew 0.0% year-over-year compared to Q3 2025. Operating income came in at $-79M.

In Q3 2025, Navan, Inc. reported revenue of $195M and earnings per share (EPS) of $-4.58. Net income for the quarter was $-225M. Gross margin was 70.7%. Operating income came in at $-79M.

Over the past 4 quarters, Navan, Inc. has demonstrated a growth trajectory, with revenue expanding from $195M to $702M. Investors analyzing NAVN stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

NAVN Dividend Yield and Income Analysis

Navan, Inc. (NAVN) does not currently pay a dividend. This is common among smaller companies in the Computer Software industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.

NAVN Momentum and Technical Analysis Profile

Navan, Inc. (NAVN) has a momentum factor score of 24/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 62/100 reflects moderate short selling activity.

NAVN vs Competitors — Technology Sector Ranking and Peer Comparison

Within the Technology sector, Navan, Inc. (NAVN) ranks #319 out of 584 stocks based on the Blank Capital composite score. This places NAVN in the lower half of all Technology stocks in our coverage universe. Key competitors and sector peers include IHS Holding Ltd (IHS) with a score of 55.0/100, VERISIGN INC/CA (VRSN) with a score of 56.0/100, ESCO TECHNOLOGIES INC (ESE) with a score of 51.7/100, CareCloud, Inc. (CCLD) with a score of 46.9/100, and MMTec, Inc. (MTC) with a score of 47.4/100.

Comparing NAVN against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full NAVN vs S&P 500 (SPY) comparison to assess how Navan, Inc. stacks up against the broader market across all factor dimensions.

NAVN Next Earnings Date

No upcoming earnings date has been announced for Navan, Inc. (NAVN) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy NAVN? — Investment Thesis Summary

The quantitative profile for Navan, Inc. suggests caution. The quality score of 35/100 flags below-average profitability. The value score of 26/100 indicates premium valuation. Momentum is weak at 24/100, a headwind for near-term performance. High volatility (stability score 26/100) increases portfolio risk.

In summary, Navan, Inc. (NAVN) earns a Reduce rating with a composite score of 31.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on NAVN stock.

Related Resources for NAVN Investors

Explore more research and tools: NAVN vs S&P 500 comparison, top Technology stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare NAVN head-to-head with peers: NAVN vs IHS, NAVN vs VRSN, NAVN vs ESE.