Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 350

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 350
---
 reserves(1).................................................................................          |            $8,120 |     |  $5,548 |
| Deferred tax liability................................................................................................ |             7,655 |     |   7,028 |
| Taxes payable for unrecognized tax benefits.....................................................                       |             2,288 |     |   2,743 |
| Redeemable convertible preferred stock warrant liability.................................                              |               427 |     |     297 |
| NOW Scheme contingency payable(2).................................................................                     |             3,806 |     |   5,119 |
| Other non-current liabilities...................................................................................       |               653 |     |     449 |
| Total other non-current liabilities.....................................................................               |           $22,949 |     | $21,184 |

________________ (1) Loss contingency reserves consist of accruals related primarily to employment taxes. (2) Refer to Note 13 — Commitments and Contingencies for further information on the NOW Scheme. NOTE 5 – LEASES Our operating leases primarily include leases for office space in various locations around the world under non-cancellable operating lease arrangements that expire at various dates through fiscal year 2033 . Certain leases contain escalation clauses and renewal options. Generally, our leases have no purchase options, residual value guarantees or material covenants. Our leases require us to pay certain operating expenses, such as taxes, repairs and insurance. The components of lease cost include fixed payments on our operating leases, fixed payments on our short-term leases and variable lease payments. Variable lease payments consist of common area

F-25 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements

maintenance, utilities reimbursed to the landlord, taxes and other costs and are expensed as incurred. The components of lease cost were as follows (in thousands):

|                                                                                                                     | Year Ended January 31, 
                   2025 |     |    2024 |
|:--------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|--------:|
| Operating lease costs.............................................................................................  |                $15,047 |     | $15,393 |
| Short-term lease costs...........................................................................................   |                  3,234 |     |   6,467 |
| Variable lease costs............................................................................................... |                  2,139 |     |   1,853 |
| Total lease costs................................................................................................   |                $20,420 |     | $23,713 |

Supplemental cash flow information related to