Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 324

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 324
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 permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements.

#### NOTE 2 – REVENUE

#### Disaggregation of Revenue
Revenue consists of the following (in thousands):

|                      |     | Year Ended January 31, |    2025 |     |   |    2024 |
|:---------------------|:----|:-----------------------|--------:|:----|:--|--------:|
| Usage-based revenue  |     | $                      | 490,356 |     | $ | 371,728 |
| Subscription revenue |     |                        |  46,481 |     |   |  30,528 |
| Total revenue        |     | $                      | 536,837 |     | $ | 402,256 |

Usage-based revenue primarily represents fees from our platform customers earned on a per-booking transaction basis and fees from our travel supply and payment partners, which are generally earned on a per transaction basis. Under our arrangements with certain travel supply partners, we earn additional fees when cumulative actual booking or transaction dollar volume exceeds specified contractual thresholds. Subscription revenue primarily represents revenue earned from subscriptions to our expense management platform.

<div align='center'>F-19</div>

The following table summarizes revenue by region based on the billing country of customers (in thousands, except percentages):

|                  |     | Year Ended January 31, |    2025 |     |                       |     |   |     |        |    2024 |     |                       |     |   |
|:-----------------|:----|:-----------------------|--------:|:----|:----------------------|----:|:--|:----|:-------|--------:|:----|:----------------------|----:|:--|
|                  |     | Amount                 |         |     | Percentage of Revenue |     |   |     | Amount |         |     | Percentage of Revenue |     |   |
| United States    |     | $                      | 315,807 |     |                       |  59 | % |     | $      | 217,427 |     |                       |  54 | % |
| United Kingdom   |     |                        | 129,412 |     |                       |  24 | % |     |        | 115,234 |     |                       |  29 | % |
| Rest of World(1) |     |                        |  91,618 |     |