Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 151

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 151
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 non-GAAP gross profit as GAAP gross profit, excluding stock-based compensation-related charges, amortization of intangible assets, and restructuring and facility exit costs. We define non-GAAP gross margin as non-GAAP gross profit divided by revenue. The following table reflects the reconciliation of GAAP gross profit to non-GAAP gross profit and gross margin to non-GAAP gross margin for the periods presented:

|                                                                                                       | Year Ended January 31, 
                   2025 |     |     2024 |     | Six Months Ended July 31, 
                      2025 |     |     2024 |
|:------------------------------------------------------------------------------------------------------|-----------------------:|:----|---------:|:----|--------------------------:|:----|---------:|
|                                                                                                       |  -dollars in thousands |     |          |     |                           |     |          |
| GAAP gross profit.............................................                                        |               $367,022 |     | $239,634 |     |                  $236,830 |     | $171,182 |
| GAAP gross margin.........................................                                            |                    68% |     |      60% |     |                       72% |     |      67% |
| Stock-based compensation-relatedcharges.............................................................. |                  4,577 |     |    4,751 |     |                     2,110 |     |    1,842 |
| Amortization of intangible assets...................                                                  |                    256 |     |    1,526 |     |                        85 |     |      128 |
| Restructuring and facility exit costs...............                                                  |                      — |     |    3,318 |     |                         — |     |        — |
| Non-GAAP gross profit....................................                                             |               $371,855 |     | $249,229 |     |                  $239,025 |     | $173,152 |
| Non-GAAP gross margin.................................                                                |                    69% |     |      62% |     |                       73% |     |      68% |

Non-GAAP Income (Loss) from Operations We define non-GAAP income (loss) from operations as GAAP loss from operations, excluding stock- based compensation-related charges, amortization of intangible assets, write-off of deferred offering costs, restructuring and facility exit costs, and the reversal of the tax contingency.

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The following table reflects the reconciliation of GAAP loss from operations to non-G