Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 335

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 335
---
 31, 2024, amortization expense related to intangible assets of $4.8 million was recorded in sales and marketing expense, and $1.5 million was recorded in cost of revenue within the consolidated statement of operations.

<div align='center'>F-27</div>

The expected future amortization expenses related to intangible assets as of January 31, 2025 were as follows (in thousands):

| Year Ended January 31, 
 2026                   |     | Amount |  4,937 |
|:-----------------------|:----|:-------|-------:|
| 2027                   |     |        |  4,855 |
| 2028                   |     |        |  4,643 |
| 2029                   |     |        |  4,624 |
| 2030                   |     |        |  4,553 |
| Thereafter             |     |        | 32,021 |
| Total                  |     | $      | 55,633 |

#### NOTE 8 – DEBT
The Company had the following debt outstanding (in thousands):

|                                                    |     | As of January 31, |    2025 |     |   |    2024 |
|:---------------------------------------------------|:----|:------------------|--------:|:----|:--|--------:|
| Convertible notes                                  |     | $                 | 125,000 |     | $ | 125,000 |
| Warehouse credit facility                          |     |                   | 214,238 |     |   | 206,404 |
| Trade loan facility                                |     |                   |  45,000 |     |   |       — |
| Notes payable:                                     |     |                   |         |     |   |         |
| 2022 promissory note                               |     |                   | 150,000 |     |   | 150,000 |
| Other debt                                         |     |                   |     968 |     |   |   3,439 |
| Total notes payable                                |     |                   | 150,968 |     |   | 153,439 |
| Total principal amount of debt and borrowings      |     |                   | 535,206 |     |   | 484,843 |
| Less: unamortized debt discount and issuance costs |     |                   | -11,324 |     |   | -22,039 |
| Plus: