Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 337

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 337
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 certain operating expenses, such as taxes, repairs and insurance. The components of lease cost include fixed payments on our operating leases, fixed payments on our short-term leases and variable lease payments. Variable lease payments consist of common area

F-25 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements

maintenance, utilities reimbursed to the landlord, taxes and other costs and are expensed as incurred. The components of lease cost were as follows (in thousands):

|                                                                                                                     | Year Ended January 31, 
                   2025 |     |    2024 |
|:--------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|--------:|
| Operating lease costs.............................................................................................  |                $15,047 |     | $15,393 |
| Short-term lease costs...........................................................................................   |                  3,234 |     |   6,467 |
| Variable lease costs............................................................................................... |                  2,139 |     |   1,853 |
| Total lease costs................................................................................................   |                $20,420 |     | $23,713 |

Supplemental cash flow information related to leases was as follows (dollars in thousands):

|                                                                                                                                                                                                 | Year Ended January 31, 
                   2025 |     |     2024 |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|---------:|
| Cash paid for amounts included in the measurement of operating leaseliabilities................................................................................................................ |                $12,864 |     |  $15,518 |
| Operating lease right-of-use assets obtained in exchange for leaseobligations............................................................................................................       |                 $9,773 |     |  $22,507 |
| Increase (decrease) of lease liabilities due to lease modifications.................                                                                                                            |                 $2,240 |     | $(2,745) |
| Increase (decrease) of right-of-use assets due to lease modifications..........                                                                                                                 |                 $3,032 |     | $(2,745) |
| Termination of operating lease liabilities.............................................................                                                                                         |                   $909 |     |     $321 |
| Termination of operating lease right-of-use assets...........................................                                                                                                   |                   $806 |     |     $284 |

During the year ended January 31, 2024, we agreed to an early termination of our office lease in Dallas, Texas and paid an aggregate of $5.5 million in early termination fees. The early termination is treated