Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 343

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 343
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ed In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires entities to annually (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income (loss) by the applicable statutory income tax rate). This standard is effective for public business entities for annual periods beginning after December 15, 2024. For all other entities, the standard is effective for annual periods beginning after December 15, 2025. Early adoption is permitted . The Company is currently evaluating the impact of this standard on its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . The new guidance requires disaggregated information about certain income statement expense line items on an annual and interim basis. The standard is effective for public business entities for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements. NOTE 2 – REVENUE Disaggregation of Revenue Revenue consists of the following (in thousands):

|                                                                                                                     | Year Ended January 31, 
                   2025 |     |     2024 |
|:--------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|---------:|
| Usage-based revenue............................................................................................     |               $490,356 |     | $371,728 |
| Subscription revenue..............................................................................................  |                 46,481 |     |   30,528 |
| Total revenue...................................................................................................... |               $536,837 |     | $402,256 |

Usage-based revenue primarily represents fees from our platform customers earned on a per- booking transaction basis and fees from our travel supply and payment partners, which are generally earned on a per-transaction basis. Under our arrangements with certain travel supply partners, we earn additional fees when cumulative actual booking or transaction dollar volume exceeds specified contractual thresholds. Subscription revenue primarily represents revenue earned from subscriptions to our expense management platform.

F-20 NAVAN, INC. AND SUBSIDIARIES Notes to Consolid