Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 144

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 144
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     |     | % Change |    |
|:--------------------|:-----------------------|:-----------------------|--------:|:----|:--|--------:|:----|:--|-------:|:----|:----|:---------|:---|
| Sales and marketing |                        | $                      | 218,722 |     | $ | 220,511 |     | $ | -1,789 |     |     | (1       | %) |

Sales and marketing expense for the year ended January 31, 2025 decreased by $1.8 million, or 1%, primarily due to (i) a decrease in sales commissions expense of $13.7 million, primarily driven by a change in our sales compensation plans during the year ended January 31, 2025, which resulted in an increase in the capitalization of certain contract acquisition costs, partially offset by (ii) an increase in advertising expense, which primarily consists of digital marketing spend, of $6.3 million, and (iii) an increase in salaries and related benefits, including stock-based compensation, of $6.2 million.

Refer to Note 1, “Description of Business and Significant Accounting Policies” to our consolidated financial statements included elsewhere in this prospectus for further details regarding our accounting policy for contract acquisition costs.

General and Administrative Expense

|                            | (dollars in thousands) | Year Ended January 31, |    2025 |     |   |    2024 |     |   | Change |     |     | % Change |    |
|:---------------------------|:-----------------------|:-----------------------|--------:|:----|:--|--------:|:----|:--|-------:|:----|:----|:---------|:---|
| General and administrative |                        | $                      | 133,552 |     | $ | 133,023 |     | $ |    529 |     |     |          | NM |

______________

*NM - Not meaningful

General and administrative expense for the year ended January 31, 2025 increased by $0.5 million, or less than 1%, primarily due to (i) an increase in expense of $23.0 million related to the release of a tax contingency reserve in the year ended January 31, 2024 and (ii) an increase in professional services expenses of $2.5 million, primarily driven by accounting and advisory services necessary to support our growth and public company