Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 168

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 168
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 Accounting Policies” to the consolidated financial statements included elsewhere in this prospectus for further details regarding our accounting policy for contract acquisition costs. Net cash provided by operating activities was $4.8 million for the six months ended July 31, 2025 as compared to net cash used in operating activities of $29.0 million for the six months ended July 31, 2024. The increase in net cash provided was primarily due to a decrease in loss from operations of $27.2 million, which excludes the non-cash impact on net loss of loss on fair value adjustments and loss on extinguishment of debt. Investing Activities Net cash provided by investing activities was $44.9 million for the year ended January 31, 2025 as compared to net cash used in investing activities of $108.8 million for the year ended January 31, 2024. The change was primarily related to a decrease in corporate card receivables driven by increased collections and faster turnover of receivables due to moving customers to more frequent payment terms. Net cash used in investing activities was $11.1 million for the six months ended July 31, 2025 as compared to net cash provided by investing activities of $26.1 million for the six months ended July 31, 2024. The change was primarily related to corporate card receivables, which increased slightly during the six months ended July 31, 2025, and decreased significantly during the six months ended July 31, 2024

120 driven by increased collections and faster turnover of receivables due to moving customers to more frequent payment terms. Financing Activities Net cash provided by financing activities was $52.6 million for the year ended January 31, 2025 as compared to $212.6 million for the year ended January 31, 2024. The decrease was primarily driven by a change in proceeds and payments from debt borrowings. Net cash provided by financing activities was $6.6 million for the six months ended July 31, 2025 as compared to $51.4 million for the six months ended July 31, 2024. The decrease was primarily driven by a change in proceeds and payments from debt borrowings, primarily due to the settlement of the 2022 Promissory Note, partially offset by proceeds from debt borrowings during the six months ended July 31, 2025. Quantitative and Qualitative Disclosures About Market Risk Foreign Currency Risk We conduct business in certain international markets, primarily