Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 5

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 5
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 States: Neither we, the selling stockholders, nor any of the underwriters have taken any action that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. You are required to inform yourselves about and to observe any restrictions relating to this offering and the distribution of this prospectus. Unless otherwise indicated, the terms “Navan,” the “company,” “we,” “us,” and “our” refer to Navan, Inc. and its subsidiaries, and references to our “common stock” include our Class A common stock and Class B common stock.

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GLOSSARY OF TERMS

| Active customer.................................                                   | A customer that has transacted on our platform six or more times inthe 12 months preceding the measurement date and that hasgenerated any form of usage-based revenue from a user’s bookingon our platform during this period. A single company or organizationwith multiple divisions, segments, or subsidiaries is generallycounted as a single customer, even though we may enter intoagreements with multiple parties within that company ororganization.                                                                                                                                                     |
| Bleisure category..............................                                    | The category of the business travel market defined by personaltravel booked around or in connection with business travel.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Customer.............................................                              | A company or organization that contracts with us to provide itsdedicated users with access to our (i) Travel, Corporate Payments,and Expense Management offerings, and/or (ii) on-demand travelmanagement offerings (including our Meetings and Events, VIP,and Bleisure offerings).                                                                                                                                                                                                                                                                                                                              |
| Customer Satisfaction Score (orCSAT score)...................................      | A measure of customer satisfaction, collected through post-interaction surveys that we prepare and distribute asking users torate their experience with Navan's service consultants on a 5-pointscale. CSAT is calculated by dividing the total number of 4 and 5scores by the total number of responses in the measurementperiod. Navan uses CSAT to evaluate the quality of our customersupport.                                                                                                                                                                                                                |
| Gross booking volume (or GBV).....                                                 | The total amount paid for valid bookings on our platform, measuredon a booked basis and inclusive of total price, taxes, and fees, andadjusted for cancellations and refunds. GBV includes bookings forhotels, flights, cars, and rail, as well as usage of our Meetings andEvents, VIP, and Bleisure offerings. See the section titled“Management’s Discussion and Analysis of