Navan, Inc.NAVNEarnings & Financial Report
Navan, Inc. is an American corporate travel and expense management company headquartered in Palo Alto, California. Founded in May 2015 by Ariel Cohen and Ilan Twig, Navan offers an integrated platform combining travel booking, corporate-issued payment cards, expense reporting, and analytics for businesses worldwide.
NAVN Q4 2025 Key Financial Metrics
Revenue
$194.9M
Gross Profit
$137.9M
Operating Profit
$-79.2M
Net Profit
$-225.4M
Gross Margin
70.7%
Operating Margin
-40.6%
Net Margin
-115.6%
YoY Growth
29.0%
EPS
$-4.58
Financial Flow
Navan, Inc. Q4 2025 Financial Summary
Navan, Inc. reported revenue of $194.9M (up 29.0% YoY) for Q4 2025, with a net profit of $-225.4M (down 438.2% YoY) (-115.6% margin). Cost of goods sold was $57.1M, operating expenses totaled $217.1M.
Key Financial Metrics
| Total Revenue | $194.9M |
|---|---|
| Net Profit | $-225.4M |
| Gross Margin | 70.7% |
| Operating Margin | -40.6% |
| Report Period | Q4 2025 |
Revenue Breakdown
Navan, Inc. Q4 2025 revenue of $194.9M breaks down across 2 segments, led by Usage Based Revenue at $179.9M (92.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Usage Based Revenue | $179.9M | 92.3% |
| Subscription Revenue | $15.0M | 7.7% |
Navan, Inc. Revenue by Segment — Quarterly Trend
Navan, Inc. revenue by segment across the last 2 reported quarters, showing how each business line (such as Usage Based Revenue and Subscription Revenue) has evolved quarter over quarter.
| Segment | Q3 2026 | Q4 2025 |
|---|---|---|
| Usage Based Revenue | $179.9M | $179.9M |
| Subscription Revenue | $15.0M | $15.0M |
Navan, Inc. Quarterly Revenue & Net Profit History
Navan, Inc. results over the last 2 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 2026 | $194.9M | — | $-225.4M | -115.6% |
| Q4 2025 | $194.9M | +29.0% | $-225.4M | -115.6% |
Income Statement
| Q4 2025 | Q3 2026 | |
|---|---|---|
| Revenue | $194.9M | $194.9M |
| YoY Growth | 29.0% | N/A |
Balance Sheet
| Q4 2025 | Q3 2026 | |
|---|---|---|
| Assets | $1.79B | $1.79B |
| Liabilities | $573.8M | $573.8M |
| Equity | $1.22B | $1.22B |
Cash Flow
| Q3 2026 | |
|---|---|
| Operating CF | $-1.3M |