Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 162

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 162
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 |        646 |     |       604 |     |       963 |     |                     2,895 |
| Non-GAAP net loss..                                            |          $(55,692) |     | $(57,743) |     |  $(52,029) |     |  $(58,889) |     | $(27,923) |     | $(21,490) |     |  $(13,922) |     |  $(33,052) |     |  $(7,072) |     |  $(7,703) |     |                 $(61,749) |

Liquidity and Capital Resources Since our inception, we have financed our operations primarily through sales of equity securities and debt, as well as cash generated from operations. Our principal uses of cash in recent periods have been funding our operations, investing in our business, technologies, and platform, capital expenditures, and various business acquisitions. As of July 31, 2025, our principal sources of liquidity were cash and cash equivalents of $223.2 million, which were held primarily for working capital purposes. Cash and cash equivalents consisted of funds deposited with banks, funds available for use held with our corporate card payment processing partner, which are not earmarked to collateralize corporate card spend by our customers, and money market funds with original or remaining maturities of three months or less at the time of purchase. We have generated significant operating losses from our operations as reflected in our accumulated deficit of $1,717.0 million as of July 31, 2025. We expect to continue to incur operating losses, and our operating cash flows may fluctuate between positive and negative amounts for the foreseeable future due to the investments we intend to make as described elsewhere in this section. As a result, we may require additional capital resources to execute strategic initiatives to grow our business. We believe our existing cash and cash equivalents, cash provided by operations, together with our amounts available for borrowing under the Warehouse Credit Facility and the ABL Facility, will be sufficient to meet our requirements and plans for cash, including supporting working capital and capital expenditure requirements for at least the next 12 months and beyond . As of July 31, 2025, we had borrowing capacity of $250.0 million under the Warehouse Credit Facility, and outstanding borrowings of $148.2 million. As of July 31, 2025, we had borrowing capacity of $100.0 million under the ABL Facility, and outstanding borrowings