Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 318

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 318
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 transaction and are recorded in the current period consolidated statements of operations. Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured monthly using the month-end exchange rate. Gains and losses resulting from such remeasurements are recorded in other expense, net in the consolidated statements of operations. Subsidiary assets and liabilities with non-U.S. dollar functional currencies are translated at the month-end exchange rate, accumulated deficit and other equity items are translated at historical exchange rates, and revenue and expenses are translated at average exchange rates during the year. Cumulative translation adjustments are recorded within accumulated other comprehensive income (loss), a separate component of stockholders’ deficit. Cash and Cash Equivalents Cash and cash equivalents consists of funds deposited with banks, funds available for use held with our corporate card payment processing partner which are not earmarked to collateralize corporate card spend by our customers, and money market funds with original or remaining maturities of three months or less at the time of purchase. Restricted Cash Restricted cash consists of (i) a portion of the balance held with our payment processing partners to fund transactions charged by our corporate card users, (ii) cash balances held at our consolidated VIE, and (iii) cash used as collateral for the letters of credit for lease agreements that have lease terms that extend beyond 12 months from the balance sheet date. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of such amounts in the consolidated statements of cash flows (in thousands):

|                                                                                                                   | As of January 31, |     |          |
|                                                                                                                   |              2025 |     |     2024 |
| Cash and cash equivalents...................................................................................      |          $157,672 |     | $166,421 |
| Restricted cash, current......................................................................................... |           148,157 |     |   95,961 |
| Restricted cash, non-current.................................................................................     |             4,766 |     |    5,000 |
| Total cash and cash equivalents and restricted cash..................................                             |          $310,595 |     | $267,382 |

Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting Standards Codification (“ASC”) 820, Fair Value Measurement , establishes a framework for measuring fair value and requires disclosure about the fair value measurements of assets and