Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 314

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 314
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.com. Upon the completion of this offering, you may access these materials at our website free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained in, or that can be accessed through, our website is not a part of, and is not incorporated into, this prospectus.

F-1

NAVAN, INC. AND SUBSIDIARIES INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

| Consolidated Financial Statements as of and for the Years Ended January 31, 2025 and2024                                                                                                                                                              | Page |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----|
| Report of Independent Registered Public Accounting Firm...............................................................                                                                                                                                | F-2  |
| Consolidated Balance Sheets.................................................................................................................                                                                                                          | F-3  |
| Consolidated Statements of Operations................................................................................................                                                                                                                 | F-4  |
| Consolidated Statements of Comprehensive Loss..............................................................................                                                                                                                           | F-5  |
| Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’Deficit........................................................................................................................................................... | F-6  |
| Consolidated Statements of Cash Flows...............................................................................................                                                                                                                  | F-7  |
| Notes to Consolidated Financial Statements........................................................................................                                                                                                                    | F-9  |

| Unaudited Condensed Consolidated Financial Statements as of January 31, 2025 and July31, 2025 and for the Six Months Ended July 31, 2025 and 2024                                                                                     |      |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----|
| Condensed Consolidated Balance Sheets............................................................................................                                                                                                     | F-45 |
| Condensed Consolidated Statements of Operations..........................................................................                                                                                                             | F-47 |
| Condensed Consolidated Statements of Comprehensive Loss........................................................                                                                                                                       | F-48 |
| Condensed Consolidated Statements of Redeemable Convertible Preferred Stock andStockholders’ Deficit................................................................................................................................. | F-49 |
| Condensed Consolidated Statements of Cash Flows.........................................................................                                                                                                              | F-50 |
| Notes to Condensed Consolidated Financial Statements..................................................................                                                                                                                | F-52 |

F-2 Report of Independent Registered Public Accounting Firm To the Board of Directors and Stockholders of Navan, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Navan, Inc. and its subsidiaries (the “Company”) as of January 31, 2025 and 2024, and the