Company: NAVN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0001628279-25-000383
Chunk: 325

Company: Navan, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 325
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2033. Certain leases contain escalation clauses and renewal options. Generally, our leases have no purchase options, residual value guarantees or material covenants. Our leases require us to pay certain operating expenses, such as taxes, repairs and insurance.

The components of lease cost include fixed payments on our operating leases, fixed payments on our short-term leases and variable lease payments. Variable lease payments consist of common area maintenance, utilities reimbursed to the landlord, taxes and other costs and are expensed as incurred. The components of lease cost were as follows (in thousands):

|                        |     | Year Ended January 31, |   2025 |     |   |   2024 |
|:-----------------------|:----|:-----------------------|-------:|:----|:--|-------:|
| Operating lease costs  |     | $                      | 15,047 |     | $ | 15,393 |
| Short-term lease costs |     |                        |  3,234 |     |   |  6,467 |
| Variable lease costs   |     |                        |  2,139 |     |   |  1,853 |
| Total lease costs      |     | $                      | 20,420 |     | $ | 23,713 |

Supplemental cash flow information related to leases was as follows (dollars in thousands):

|                                                                                  |     | Year Ended January 31, |   2025 |     |   |   2024 |
|:---------------------------------------------------------------------------------|:----|:-----------------------|-------:|:----|:--|-------:|
| Cash paid for amounts included in the measurement of operating lease liabilities |     | $                      | 12,864 |     | $ | 15,518 |
| Operating lease right-of-use assets obtained in exchange for lease obligations   |     | $                      |  9,773 |     | $ | 22,507 |
| Increase (decrease) of lease liabilities due to lease modifications              |     | $                      |  2,240 |     | $ | -2,745 |
| Increase (decrease) of right-of-use assets due to lease modifications            |     | $                      |  3,032 |     | $ | -2,745 |
| Termination of operating lease liabilities                                       |     | $                      |    909 |     | $ |    321 |
| Termination of operating lease right-of-use assets                               |     |