Company: NAVN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0001628279-25-000383
Chunk: 348

Company: Navan, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 348
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 those losses for which the likelihood is more than remote but less than probable), the Company has determined it does not have material exposure on an aggregate basis. As of January 31, 2025, the Company is not subject to any currently pending legal matters or claims that could have a material adverse effect on its financial position, results of operations, or cash flows should such litigation be resolved unfavorably.

#### Repayment of Government Grants
During the years ended January 31, 2022 and 2021, the Company received $6.0 million in grants from the Dutch government under the NOW Scheme. The Company’s application for relief under the NOW Scheme is currently under review. If the Dutch government concludes that the Company does not qualify under the conditions stipulated for the government grants, the Company may have to repay the Dutch government for grants provided. We recognized the $6.0 million in grants received as a liability in the period received.

During the year ended January 31, 2023, the Company received a tentative payment schedule from the Dutch government. The NOW Scheme liability balances as of January 31, 2025 and 2024, and the changes in fiscal 2025 and 2024 are as follows (in thousands):

|                                                                 |     | Year Ended January 31, |   2025 |     |   |  2024 |
|:----------------------------------------------------------------|:----|:-----------------------|-------:|:----|:--|------:|
| Balance at beginning of period(1)                               |     | $                      |  5,648 |     | $ | 5,803 |
| Repayments                                                      |     |                        | -1,118 |     |   |  -140 |
| Foreign currency translation impact                             |     |                        |   -215 |     |   |   -15 |
| Balance at end of period                                        |     | $                      |  4,315 |     | $ | 5,648 |
| Less: balance in Accrued expenses and other current liabilities |     |                        |   -509 |     |   |  -529 |
| Balance in Other non-current liabilities                        |     | $                      |  3,806 |     | $ | 5,119 |

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(1) During the year ended January 31, 2023, the NOW Scheme liability had a foreign currency translation impact of $0.2 million, leading to a decrease of the liability from $6.0 million