Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 351

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 351
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 leases was as follows (dollars in thousands):

|                                                                                                                                                                                                 | Year Ended January 31, 
                   2025 |     |     2024 |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|---------:|
| Cash paid for amounts included in the measurement of operating leaseliabilities................................................................................................................ |                $12,864 |     |  $15,518 |
| Operating lease right-of-use assets obtained in exchange for leaseobligations............................................................................................................       |                 $9,773 |     |  $22,507 |
| Increase (decrease) of lease liabilities due to lease modifications.................                                                                                                            |                 $2,240 |     | $(2,745) |
| Increase (decrease) of right-of-use assets due to lease modifications..........                                                                                                                 |                 $3,032 |     | $(2,745) |
| Termination of operating lease liabilities.............................................................                                                                                         |                   $909 |     |     $321 |
| Termination of operating lease right-of-use assets...........................................                                                                                                   |                   $806 |     |     $284 |

During the year ended January 31, 2024, we agreed to an early termination of our office lease in Dallas, Texas and paid an aggregate of $5.5 million in early termination fees. The early termination is treated as a lease modification in the supplemental cash flow information included in the above table. Supplemental disclosure information related to leases was as follows:

|                                                                                                           | As of January 31, |     |           |
|                                                                                                           |              2025 |     |      2024 |
| Weighted-average remaining lease term for operating leases........................                        |         5.4 years |     | 6.5 years |
| Weighted-average discount rate........................................................................... |             11.1% |     |     11.2% |

Maturities of lease liabilities as of January 31, 2025 were as follows (in thousands):

| Year Ended January 31,                                                                                                                                   
 2026.................................................................................................................................................... |     |  Amount 
 $16,562 |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------|:----|--------:|
| 2027.................................................................................................................................................... |     |  12,977 |
| 2028.................................................................................................................................................... |     |  12,225 |
| 2029.................................................................................................................................................... |     |   9,306 |
| 2030.................................................................................................................................................... |