Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 160

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 160
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 impacting other non-current liabilities, a change in accounts payable primarily driven by timing of payments, and an increase in capitalized contract acquisition costs. Refer to Note 1, “Description of Business and Significant Accounting Policies” to the consolidated financial statements included elsewhere in this prospectus for further details regarding our accounting policy for contract acquisition costs. Net cash provided by operating activities was $4.8 million for the six months ended July 31, 2025 as compared to net cash used in operating activities of $29.0 million for the six months ended July 31, 2024. The increase in net cash provided was primarily due to a decrease in loss from operations of $27.2 million, which excludes the non-cash impact on net loss of loss on fair value adjustments and loss on extinguishment of debt. Investing Activities Net cash provided by investing activities was $44.9 million for the year ended January 31, 2025 as compared to net cash used in investing activities of $108.8 million for the year ended January 31, 2024. The change was primarily related to a decrease in corporate card receivables driven by increased collections and faster turnover of receivables due to moving customers to more frequent payment terms. Net cash used in investing activities was $11.1 million for the six months ended July 31, 2025 as compared to net cash provided by investing activities of $26.1 million for the six months ended July 31, 2024. The change was primarily related to corporate card receivables, which increased slightly during the six months ended July 31, 2025, and decreased significantly during the six months ended July 31, 2024

117 driven by increased collections and faster turnover of receivables due to moving customers to more frequent payment terms. Financing Activities Net cash provided by financing activities was $52.6 million for the year ended January 31, 2025 as compared to $212.6 million for the year ended January 31, 2024. The decrease was primarily driven by a change in proceeds and payments from debt borrowings. Net cash provided by financing activities was $6.6 million for the six months ended July 31, 2025 as compared to $51.4 million for the six months ended July 31, 2024. The decrease was primarily driven by a change in proceeds and payments from debt borrowings, primarily due to the settlement of the 2022 Promissory Note, partially offset by proceeds