Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 345

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 345
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7 million and $ 18.6 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 $ 28.2 million as of January 31, 2025 , of which we expect to recognize approximately 59% as revenue over the next 12 months, 32% as revenue over the subsequent 13 to 24 months, and the remainder thereafter. NOTE 3 – FAIR VALUE MEASUREMENTS The following table presents our financial assets and liabilities measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):

|                                                                                                        | Fair value measurements as of January 31, 2025 |     |         |     |         |     |         |
|:-------------------------------------------------------------------------------------------------------|:-----------------------------------------------|:----|:--------|:----|--------:|:----|--------:|
|                                                                                                        | Level 1                                        |     | Level 2 |     | Level 3 |     |   Total |
| Financial Liabilities                                                                                  |                                                |     |         |     |         |     |         |
| Redeemable convertible preferred stockwarrant liability............................................... | $—                                             |     | $—      |     |    $427 |     |    $427 |
| Embedded derivative liability.........................                                                 | —                                              |     | —       |     |  59,820 |     |  59,820 |
| Total....................................................................                              | $—                                             |     | $—      |     | $60,247 |     | $60,247 |

F-21 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements

|                                                                                                        | Fair value measurements as of January 31, 2024 |     |         |     |         |     |         |
|:-------------------------------------------------------------------------------------------------------|:-----------------------------------------------|:----|:--------|:----|--------:|:----|--------:|
|                                                                                                        | Level 1                                        |     | Level 2 |     | Level 3 |     |   Total |
| Financial Liabilities:                                                                                 |                                                |     |         |     |         |     |         |
| Redeemable convertible preferred stockwarrant