Navan (NAVN) financial statements
Navan reported revenue of $702M in fiscal 2026, up 32.1% a year over 2 years.
Net income was -$398M and the operating margin -28.0%, against -61.2% in 2024.
Free cash flow was $15M.
The diluted share count rose 119% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Navan's 10-K filings with the SEC.
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | $402M | $537M | $702M |
| Cost of revenue | $163M | $170M | $202M |
| Gross profit | $240M | $367M | $500M |
| Research and development | $132M | $122M | $151M |
| Selling, general and admin | $354M | $352M | $546M |
| Operating income | -$246M | -$108M | -$197M |
| Interest expense | $63M | $76M | $51M |
| Pre-tax income | -$326M | -$172M | -$396M |
| Income tax | $5M | $10M | $2M |
| Net income | -$332M | -$181M | -$398M |
| EPS (diluted) | -$7.44 | -$4.00 | -$4.07 |
| Diluted shares | 45M | 45M | 98M |
| Gross margin | 59.6% | 68.4% | 71.3% |
| Operating margin | -61.2% | -20.1% | -28.0% |
| Net margin | -82.4% | -33.7% | -56.7% |
Balance sheet
Fiscal years, from Navan's 10-K filings with the SEC.
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Cash and short-term investments | $166M | $158M | $741M |
| Receivables | — | $185M | $216M |
| Total current assets | — | $689M | $1.3B |
| Property, plant and equipment | — | $30M | $35M |
| Goodwill | $221M | $220M | $241M |
| Total assets | — | $1.1B | $1.7B |
| Total current liabilities | — | $446M | $321M |
| Total liabilities | — | $970M | $501M |
| Shareholders' equity | -$1.1B | -$1.2B | $1.2B |
| Net debt | -$166M | -$158M | -$584M |
Cash flow
Fiscal years, from Navan's 10-K filings with the SEC.
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Operating cash flow | -$166M | -$50M | $34M |
| Capital spending | $17M | $16M | $19M |
| Free cash flow | -$184M | -$67M | $15M |
| Stock-based compensation | $76M | $77M | $182M |
| Net borrowing | $206M | $86M | $216M |
| Free cash flow margin | -45.7% | -12.4% | 2.1% |
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Open NAVN in InvestinglyQuestions
What was Navan's revenue in 2026?
$702M in fiscal 2026, from its 10-K filing.
How much free cash flow does Navan generate?
$15M in fiscal 2026 (operating cash flow minus capital spending).
From Navan's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.