Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 373

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 373
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 laws. The taxing authorities may challenge such positions, and the resolution of such matters could result in recognition of income tax expense in the Company’s consolidated financial statements. As of January 31, 2025, the Company had unrecognized tax benefits of $9.5 million, of which $1.9 million, if recognized, would favorably impact the effective tax rate. As of January 31, 2024, the Company had unrecognized tax benefits of $8.8 million, of which $2.4 million, if recognized, would favorably impact the effective tax rate. The aggregate changes in the Company’s total gross amount of unrecognized tax benefits are summarized as follows (in thousands):

|                                                                                                                        | Year Ended January 31, 
                   2025 |     |   2024 |
|:-----------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|-------:|
| Beginning balance..................................................................................................    |                 $8,783 |     | $7,477 |
| Additions based on tax position related to the current year.............................                               |                  1,641 |     |  1,521 |
| Additions for tax positions for the prior year.......................................................                  |                     68 |     |    361 |
| Decrease related to prior year tax positions.......................................................                    |                   -241 |     |   -386 |
| Decrease related to expiration of statute of limitations.....................................                          |                   -794 |     |   -190 |
| Ending balance........................................................................................................ |                 $9,457 |     | $8,783 |

The Company includes interest and penalties related to unrecognized tax benefits through income tax expense. As of January 31, 2025 and 2024, the amount of accrued interest and penalties related to uncertain tax positions was $0.4 million. Although it is reasonably possible that certain unrecognized tax benefits may increase or decrease within the next 12 months due to tax examination changes, settlement activities, or the impact on recognition and measurement considerations related to the results of published tax cases or other similar activities, the Company does not anticipate any significant changes to unrecognized tax benefits over the next 12 months. The Company files federal, state, and foreign tax returns with varying statutes of limitations. The tax years since inception of the Company in 2015 remain open to examination due to the carryover of unused net operating losses and tax credits.

F-41 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements

NOTE 13