Company: NAVN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0001628279-25-000383
Chunk: 142

Company: Navan, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 142
---
4 |     |   |  Change |     |     | % Change |   |
|:-----------------|:-----------------------|:-----------------------|--------:|:----|:--|--------:|:----|:--|--------:|:----|:----|---------:|:--|
| Interest expense |                        | $                      | -75,997 |     | $ | -63,281 |     | $ | -12,716 |     |     |       20 | % |

Interest expense for the year ended January 31, 2025 increased by $12.7 million, or 20%, primarily due to higher borrowing levels under the Warehouse Credit Facility and the Trade Loan Facility.

Other Income (Expense)

|                             | (dollars in thousands) | Year Ended January 31, | 2025 |     |   |   2024 |     |   |  Change |     |     | % Change |    |
|:----------------------------|:-----------------------|:-----------------------|-----:|:----|:--|-------:|:----|:--|--------:|:----|:----|:---------|:---|
| Other income (expense), net |                        | $                      |  -73 |     | $ | 10,093 |     | $ | -10,166 |     |     | (101     | %) |

Other income (expense), net for the year ended January 31, 2025 changed by $10.2 million, or 101%, primarily due to (i) the release of a tax contingency reserve in the amount of $6.7 million in the year ended January 31, 2024, which resulted in non-recurring income in the prior year, and (ii) an increase in foreign currency transaction losses of $3.9 million.

Gain (Loss) on Fair Value Adjustments

|                                       | (dollars in thousands) | Year Ended January 31, |   2025 |     |   |    2024 |     |   | Change |     |     | % Change |    |
|:--------------------------------------|:-----------------------|:-----------------------|-------:|:----|:--|--------:|:----|:--|-------:|:----|:----|:---------|:---|
| Gain (loss) on fair value adjustments |                        | $                      | 12,200 |     | $ | -26,