Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 370

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 370
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 ended July 31, 2025 and 2024 , revenue recognized from deferred revenue at the beginning of the period was $27.8 million and $20.8 million , respectively. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized. We do not disclose the value of remaining performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts for which variable consideration is allocated to an unsatisfied performance obligation. Our remaining performance obligations related to multi-year subscription contracts were $43.5 million as of July 31, 2025 of which we expect to recognize approximately 49% as revenue over the next 12 months, 32% as revenue over the subsequent 13 to 24 months, and the remainder thereafter. Accounts Receivable and Allowance for Expected Credit Losses Accounts receivable are generally due within thirty days and are recorded net of an allowance for estimated uncollectible amounts. We estimate expected credit losses based on various factors, including the age of the receivable balance, credit quality of the customer, and past collection experience with the customer. We consider the need to adjust historical information used in our estimates to reflect the extent to which we expect current conditions and reasonable and supportable forecasts to differ from the conditions that existed for the period over which historical information was evaluated. Long-aged balances and other higher risk amounts are reviewed individually for collectability. We recognize estimated credit losses through the income statement, and the allowance for estimated credit losses is recorded in accounts receivable, net on the condensed consolidated balance sheets.

F-56 NAVAN, INC. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (unaudited)

The following table summarizes the allowance for expected credit losses (in thousands):

|                                                                                                              | Six Months Ended July 31, |     |        |
|                                                                                                              |                      2025 |     |   2024 |
| Balance at beginning of period........................................................................       |                    $5,135 |     | $4,270 |
| Provision for expected credit losses...............................................................          |                     2,488 |     |  1,677 |
| Amounts written off, recoveries and other adjustments...............................                         |                    -1,739 |     | -1,161 |
| Balance at end of period.................................................................................... |                    $5,884 |     | $4,786 |

Corporate Card Receivables and Allowance for Expected Credit Losses We provide virtual and