Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 381

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 381
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 composition and maturities of cash and cash equivalent and restricted cash balances. The Company has not experienced any losses due to institutional failure or bankruptcy. The Company performs credit evaluations of its customers and generally does not require collateral for sales on credit. In certain cases, based on the Company’s credit evaluations, collateral, primarily in the form of cash deposits, is required to mitigate corporate card receivable collection risk. No customers accounted for 10% or more of the Company’s revenue during the six months ended July 31, 2025 . One payment partner customer accounted for 12% of the Company’s revenue during the six months ended July 31, 2024 . One platform customer accounted for 10% and 12% of accounts receivable as of July 31, 2025 and January 31, 2025 , respectively. The Company did not have any customers that accounted for 10% or more of corporate card receivables as of July 31, 2025 and January 31, 2025 , respectively. Segment Information The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. The Company operates its business in one operating segment and, therefore, has one reportable segment. The CODM uses consolidated net loss to measure segment profit or loss in order to assess, manage, and maintain performance of the business based on resource allocations. The CODM also uses consolidated net loss to approve operating budgets and to identify product development and market expansion opportunities. The Company’s objective in making resource allocation decisions is to optimize the consolidated financial results. Significant segment expenses that the CODM reviews and utilizes to manage the Company’s operations are cost of revenue, research and development, sales and marketing, and general and administrative expenses at the consolidated level, which are presented in the Company’s condensed consolidated statements of operations. Other segment items included in consolidated net loss include interest expense, other income, net, loss on extinguishment of debt, gain (loss) on fair value adjustments and income tax expense, which are presented in the Company’s condensed consolidated statements of operations. The measure of segment assets is reported on the balance sheet as total consolidated assets. Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ( FASB) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU