Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 130

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 130
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 a new paradigm in AI-powered travel management. This proprietary framework enables us to create, train, deploy, and supervise specialized AI-powered 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, % 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 the 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 , 2025, % of 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.

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Our platform is easy-to-use, yet powerful enough to address customers of all sizes across any industry vertical. As of January 31, 2025, we had over 10,000 active customers up 27% from over 8,000 active customers as of fiscal 2024. Our revenue grew 33% year-over-year from $402 million in fiscal 2024 to $537 million in fiscal 2025. Our net loss decreased 45% year-over-year from $332 million in fiscal 2024 to $181 million in fiscal 2025. Our gross booking volume grew 32% year-over-year from $5.0 billion in fiscal 2024 to $6.6 billion in fiscal 2025. Our payment volume grew 35% year-over-year from $2.7 billion in fiscal 2024 to $3.7 billion in fiscal 2025.

Our proprietary AI framework, Navan Cognition, significantly enhances support capabilities and has improved our gross