Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 355

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 355
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938 |
| Shares of common stock available for future grants.........................................                |         5,486,445 |     |   4,291,678 |
| Redeemable convertible preferred stock warrants............................................                |            40,160 |     |      40,160 |
| Total common stock reserved for issuance........................................................           |       197,511,756 |     | 193,410,953 |

NOTE 12 - INCOME TAXES Loss before income tax expense is as follows (in thousands):

|                                                                                                                               | Year Ended January 31, 
                   2025 |     |       2024 |
|:------------------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|-----------:|
| United States...........................................................................................................      |             $(206,209) |     | $(345,485) |
| Foreign...................................................................................................................... |                 34,701 |     |     19,361 |
| Loss before income tax expense..........................................................................                      |             $(171,508) |     | $(326,124) |

F-38 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements

The components of income tax expense are as follows (in thousands):

|                                                                                                                            | Year Ended January 31, 
                   2025 |     |   2024 |
|:---------------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|-------:|
| Current:                                                                                                                   |                        |     |        |
| Federal.................................................................................................................   |                 $(259) |     | $(135) |
| State..................................................................................................................... |                    128 |     |     36 |
| Foreign.................................................................................................................   |                  9,700 |     |  8,751 |
| Total current tax expense......................................................................................            |                  9,569 |     |  8,652 |
| Deferred:                                                                                                                  |                        |     |        |
| Federal.................................................................................................................   |                      — |     |      — |
| State..................................................................................................................... |                      2 |     |    -52 |
| Foreign.................................................................................................................   |                     -1 |     | -3,172 |
| Total deferred tax expense (benefit)....................................................................                   |                      1 |     | -3,224 |
| Total income tax expense......................................................................................             |                 $9,570 |     | $5,428 |

Historically, it has been the practice and intention of the Company to indefinitely rein