Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 333

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 333
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 adjust historical information used in our estimates to reflect the extent to which we expect current conditions and reasonable and supportable forecasts to differ from the

F-12 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements

conditions that existed for the period over which historical information was evaluated. We recognize estimated credit losses through the income statement, and the allowance for estimated credit losses is recorded in corporate card receivables, net on the consolidated balance sheets. The following table summarizes the corporate card receivables allowance for expected credit losses (in thousands):

|                                                                                                              | As of January 31, |     |        |
|                                                                                                              |              2025 |     |   2024 |
| Balance at beginning of period........................................................................       |              $566 |     |   $595 |
| Provision for expected credit losses...............................................................          |             2,296 |     |  3,332 |
| Amounts written off, recoveries and other adjustments...............................                         |            -2,482 |     | -3,361 |
| Balance at end of period.................................................................................... |              $380 |     |   $566 |

Business Combinations We allocate the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. The determination of fair value requires management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from trade names from a market participant perspective, acquired customers, acquired technology, useful lives and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, management may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Variable Interest Entities We evaluate our ownership, contractual, and other interests in entities to determine if we have a variable interest in an entity. These evaluations are complex, involve judgment and the use of estimates and assumptions based on available historical and prospective information, among other factors. If we determine that an entity for which we hold a contractual or ownership interest in is a VIE and that we are the primary beneficiary, we consolidate the entity in the consolidated financial