Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 139

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 139
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 Because this workforce responds to the significant majority of travelers’ needs, we typically require only limited human agent intervention. This technology enables us to efficiently scale our platform, allowing us to maintain a high level of service to customers for their basic needs and reserve agent time for more critical or complex customer service situations. We intend to continue investing in research and development, including for our infrastructure and AI capabilities to make our offerings even more scalable and personalized to our users. We are particularly focused on our AI investments, which have allowed us to build and continue to develop Navan Cognition. We expect to continue to invest in Navan Cognition in order to further enable us, and potentially to enable outside organizations, to create and oversee AI-powered virtua l agents with enterprise-grade reliability. We also expect to continue to invest in future product interface enhancements such as Navan Go, which is powered by Navan Cognition and designed to redefine how travelers book, modify, and manage trips on the go via their mobile devices. See the section titled “Business–Our Solution–Navan Cognition: Our New Paradigm in AI-Powered Travel Management” for more information about Navan Cognition. Our AI workforce’s performance, quality, and accuracy has been rated with a CSAT score of 78% for the six months ended July 31, 2025, which is on par with human agent performance. An increasing amount of our support services are becoming automated through our AI-powered virtual agent chatbot, Ava, handled approximately 50% of user interactions without live agent intervention during the six months ended July 31, 2025. Our ability to control customer support costs over time, even as customer support volume has increased significantly, has contributed to an increase in gross margin from 60% in fiscal 2024 to 68% in fiscal 2025, and non-GAAP gross margin increased from 62% in fiscal 2024 to 69% in fiscal 2025. Similarly, our gross margin has increased from 67% for the six months ended July 31, 2024 to 96 72% for the six months ended July 31, 2025, and non-GAAP gross margin increased from 68% for the six months ended July 31, 2024 to 73% for the six months ended July 31, 2025. See the section titled “— Non-GAAP Financial Measures” below for information regarding our use of non-GAAP gross margin and a reconciliation of gross margin to non