Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 338

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 338
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 as a lease modification in the supplemental cash flow information included in the above table. Supplemental disclosure information related to leases was as follows:

|                                                                                                           | As of January 31, |     |           |
|                                                                                                           |              2025 |     |      2024 |
| Weighted-average remaining lease term for operating leases........................                        |         5.4 years |     | 6.5 years |
| Weighted-average discount rate........................................................................... |             11.1% |     |     11.2% |

Maturities of lease liabilities as of January 31, 2025 were as follows (in thousands):

| Year Ended January 31,                                                                                                                                   
 2026.................................................................................................................................................... |     |  Amount 
 $16,562 |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------|:----|--------:|
| 2027.................................................................................................................................................... |     |  12,977 |
| 2028.................................................................................................................................................... |     |  12,225 |
| 2029.................................................................................................................................................... |     |   9,306 |
| 2030.................................................................................................................................................... |     |   7,782 |
| Thereafter...........................................................................................................................................    |     |  13,428 |
| Total lease payments.......................................................................................................................              |     |  72,280 |
| Less: imputed interest......................................................................................................................             |     | -17,793 |
| Present value of lease payments...................................................................................................                       |     | $54,487 |

F-26 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements NOTE 6 – BUSINESS COMBINATIONS Shorebird Technologies Private Limited On May 17, 2023, we acquired all of the outstanding stock of Shorebird Technologies Private Limited (Tripeur), an Indian-based travel management company for an aggregate purchase price of $7.2 million paid in cash. The acquisition was accounted for as a business combination and is expected to increase our market share as a provider of travel, corporate card and expense management solutions in India. Acquisition costs related to the Tripeur acquisition were approximately $0.3 million and were expensed as incurred. The purchase price was allocated to the following assets and liabilities: $6.3 million to goodwill, $0.5 million to intangible assets for acquired developed technology, $0.8 million to current assets, $0.4 million to other assets and $0.8 million to current liabilities. Good