Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 316

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 316
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368 |
| Noncash investing and financing activities:                                                                                                                        |                        |     |          |
| Vesting of early exercised stock options...................................................                                                                        |                 $1,658 |     |     $312 |
| Capitalized share-based compensation for internal-use softwaredevelopment costs................................................................................... |                 $2,319 |     |   $1,130 |
| Amounts unpaid for purchases of property and equipment....................                                                                                         |                    $12 |     |     $556 |

The accompanying notes are an integral part of these consolidated financial statements.

F-9 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements NOTE 1 - DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Description of Business Navan, Inc. (the “Company”, “we”, “our”), together with its subsidiaries, is a cloud-based technology platform built to solve the comprehensive needs of frequent travelers. We offer a comprehensive, all-in- one, AI-powered travel, payments and expense management solution designed to streamline the entire travel lifecycle, from booking and policy enforcement to payment processing, expense reconciliation, and reporting. The Company was incorporated in the state of Delaware in February 2015. The Company is currently headquartered in Palo Alto, California and has operations in North America, Asia Pacific, the Middle East, and Europe. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). We consolidate our wholly-owned subsidiaries over which we exercise control, and variable interest entities (“VIEs”) where we are deemed to be the primary beneficiary. See Note 9 — Variable Interest Entities for further detail. The accompanying consolidated financial statements include the accounts of the Company and entities in which it has a controlling financial interest in accordance with the consolidation accounting principles guidance. All intercompany profits, transactions, and balances have been eliminated in consolidation. The Company’s fiscal year ends on January 31. References made to “fiscal 2025 ” and “fiscal 2024” refer to the Company’s fiscal years ended January 31, 2025 and 2024, respectively. Reverse Stock Split On September 18, 2025, the Company effected a one-for-three reverse stock split of its common stock and redeemable convertible preferred stock. All share and per share information has been retroactively adjusted to reflect the stock split for all periods presented. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP