Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 383

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 383
---
                  $329,413 |     | 100%                 |     | $253,727 |     | 100%                 |

_______________ (1) No individual country within Rest of World comprises more than 10% of total revenue. Unbilled Receivables We receive payments from customers based on a billing schedule as established in our customer contracts. Accounts receivable are recorded when we have an unconditional right to consideration. In some arrangements, we have a right to consideration for our performance under the customer contract before invoicing the customer, resulting in an unbilled accounts receivable. We recognized unbilled accounts receivable of $67.7 million and $51.9 million , respectively, as of July 31, 2025 and January 31, 2025 . Unbilled accounts receivable is recorded within accounts receivable, net on the accompanying condensed consolidated balance sheets. Contract Liabilities Revenue is deferred when we have the right to invoice in advance of performance under a customer contract. The deferred revenue balance primarily consists of annual subscription payments. The current portion of deferred revenue represents the amounts that are expected to be recognized within one year of the balance sheet date. The non-current portion of deferred revenue represents amounts that are expected to be recognized more than one year from the balance sheet date. For the six months ended July 31, 2025 and 2024 , revenue recognized from deferred revenue at the beginning of the period was $27.8 million and $20.8 million , respectively. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized. We do not disclose the value of remaining performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts for which variable consideration is allocated to an unsatisfied performance obligation. Our remaining performance obligations related to multi-year subscription contracts were $43.5 million as of July 31, 2025 of which we expect to recognize approximately 49% as revenue over the next 12 months, 32% as revenue over the subsequent 13 to 24 months, and the remainder thereafter. Accounts Receivable and Allowance for Expected Credit Losses Accounts receivable are generally due within thirty days and are recorded net of an allowance for estimated uncollectible amounts. We estimate expected credit losses based on various factors, including the age of the receivable balance, credit quality of the customer, and past collection experience with the customer. We consider the need to adjust historical information used in our estimates to reflect the