Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 328

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 328
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 Consolidated Statements of Cash Flows...............................................................................................                                                                                                              | F-7  |
| Notes to Consolidated Financial Statements........................................................................................                                                                                                                | F-9  |

| Unaudited Condensed Consolidated Financial Statements as of January 31, 2025 and July 31, 2025and for the Six Months Ended July 31, 2025 and 2024                                                                                  |      |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----|
| Condensed Consolidated Balance Sheets............................................................................................                                                                                                  | F-45 |
| Condensed Consolidated Statements of Operations..........................................................................                                                                                                          | F-47 |
| Condensed Consolidated Statements of Comprehensive Loss........................................................                                                                                                                    | F-48 |
| Condensed Consolidated Statements of Redeemable Convertible Preferred Stock andStockholders’ Deficit.............................................................................................................................. | F-49 |
| Condensed Consolidated Statements of Cash Flows.........................................................................                                                                                                           | F-50 |
| Notes to Condensed Consolidated Financial Statements..................................................................                                                                                                             | F-52 |

F-2 Report of Independent Registered Public Accounting Firm To the Board of Directors and Stockholders of Navan, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Navan, Inc. and its subsidiaries (the “Company”) as of January 31, 2025 and 2024, and the related consolidated statements of operations, of comprehensive loss, of redeemable convertible preferred stock and stockholders’ deficit and of cash flows for the years then ended, including the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of January 31, 2025 and 2024, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. Basis for Opinion These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits of these consolidated financial statements in accordance with the standards of the PCAOB. Those standards require