Company: NAVN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0001628279-25-000383
Chunk: 152

Company: Navan, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 152
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 interest at 0.25% per annum. The available borrowings are based on eligible U.S. and UK travel receivables. Repayment is required if borrowings exceed stated limits.

As of , 2025, we had drawn a total of $ million on the ABL Facility. The ABL Facility contains certain affirmative or negative covenants including, among other things, restrictions on repurchases of stock, dividends and other distributions. As of , 2025, we were in compliance with all covenants. See the section titled “Description of Material Indebtedness—ABL Facility” for further detail.

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#### Cash Flows
The following table summarizes our cash flows for the periods presented:

|                                                     |     | Year Ended January 31, |    2025 |     |   |     2024 |
|:----------------------------------------------------|:----|:-----------------------|--------:|:----|:--|---------:|
|                                                     |     | -in thousands          |         |     |   |          |
| Net cash used in operating activities               |     | $                      | -50,406 |     | $ | -166,363 |
| Net cash provided by (used in) investing activities |     | $                      |  44,870 |     | $ | -108,779 |
| Net cash provided by financing activities           |     | $                      |  52,554 |     | $ |  212,620 |

#### Operating Activities
Net cash used in operating activities was $50.4 million for the year ended January 31, 2025 as compared to $166.4 million for the year ended January 31, 2024. The decrease in net cash used was primarily due to a decrease in net loss, offset by a decrease in non-cash loss on fair value adjustments, and the net impact of changes in operating assets and liabilities. The changes in operating assets and liabilities include the reversal of the tax contingency in the year ended January 31, 2024 impacting other non-current liabilities, a change in accounts payable primarily driven by timing of payments, and an increase in capitalized contract acquisition costs. Refer to Note 1, “Description of Business and Significant Accounting Policies” to the consolidated financial statements included elsewhere in this prospectus for further details regarding our accounting policy for contract acquisition costs.

#### Investing Activities
Net cash provided by investing activities was $44.9 million for the year ended January