Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 33

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 33
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 interest rates, inflation, domestic and foreign currency fluctuation, instability in the global banking system, volatility in global stock markets, and the potential for a prolonged economic recession, particularly on T&E budgets and IT spending at our existing and potential customers; • political unrest or instability, including due to tariff policies; • global security concerns caused by terrorist attacks, the threat of terrorist attacks, or the precautions taken in anticipation of such attacks, including elevated threat warnings or selective cancellation or redirection of travel; • cyber-terrorism, the outbreak of hostilities, global conflict, or escalation or worsening of existing hostilities or war, such as the ongoing conflicts in Ukraine and the Middle East and tensions between China and Taiwan, in some cases resulting in sanctions imposed by the United States and other countries, and retaliatory actions taken by sanctioned countries in response to such sanctions; • adverse changes in visa and immigration policies or the imposition of travel restrictions or more restrictive security procedures; 24 • climate change-related impact to travel destinations, such as extreme weather, natural disasters and disruptions, and actions taken by governments, businesses, our suppliers, and our other partners to combat climate change, such as new travel-related regulations, policies, or conditions related to sustainability and climate-change concerns; • the occurrence of travel-related accidents or the grounding of aircraft due to safety concerns or regulatory actions; • technical and operational disruptions at key transit hubs, including key international airports due to insufficient funding of aviation and other travel or transportation agencies or governmental bodies; • changes in preferences from traditional hotel bookings to the use of alternative providers that are not available on our platform; • the impact of macroeconomic conditions and labor shortages on the cost and availability of airline travel, including the risk of a global recession; • regulatory actions or changes to regulations governing the travel industry; and • widespread health concerns or pandemics, such as the COVID-19 pandemic. We have historically experienced and may in the future experience negative impacts to our business, financial condition, results of operations, and prospects from some or all of the above disruptions to business or consumer travel. In addition, from time to time, certain airlines struggle to meet spikes in demand, leading to elevated cancellations and delays that frustrate passengers and strain airport operations. When large numbers of our customers experience delays or cancellations, our support costs tend to increase, and prolonged periods of systemic disruptions increase our operating costs and adversely affect our margins and results of operations. Shifts in business travel trends or any decline in business travel demand would negatively impact our business, growth, results of operations