Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 30

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 30
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 |                       73% |     |       68% |
| GAAP loss from operations............................            |             $(107,638) |     | $(246,342) |     |                 $(28,151) |     | $(55,370) |
| Non-GAAP income (loss) from operations(1)                        |              $(25,042) |     | $(174,753) |     |                   $11,076 |     | $(17,485) |
| GAAP net loss................................................... |             $(181,078) |     | $(331,552) |     |                 $(99,880) |     | $(92,544) |
| Non-GAAP net loss(1).......................................      |              $(96,387) |     | $(224,353) |     |                 $(14,775) |     | $(49,413) |

_______________ (1) Non-GAAP gross profit, non-GAAP gross margin, non-GAAP income (loss) from operations, and non-GAAP net loss are not calculated in accordance with GAAP.

22 RISK FACTORS Investing in our Class A common stock involves a high degree of risk. You should consider carefully the risks and uncertainties described below, together with all of the other information in this prospectus, including the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” our consolidated financial statements and the accompanying notes included elsewhere in this prospectus before deciding whether to invest in shares of our Class A common stock. Our business, financial condition, results of operations, or prospects could also be adversely affected by risks and uncertainties that are not presently known to us or that we currently believe are not material. If any of the risks actually occur, our business, financial condition, results of operations, and prospects could be adversely affected. In that event, the market price of our Class A common stock could decline, and you could lose all or part of your investment. Risks Related to Our Business and Industry We have experienced rapid growth and operational and strategic expansion in recent periods. Such historical trends, including growth rates, may not continue in the future, and failure to effectively manage our growth could harm our business and results of operations. We have experienced rapid growth and increased demand for our platform in recent periods, there is no assurance that we will manage our growth successfully, and our recent growth rates may not be indicative of our future growth. Our rapid growth has resulted in increased costs as we expanded our