Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 368

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 368
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 become redeemable upon the occurrence of certain deemed liquidation events that are considered not solely within the Company’s control. Accordingly, the Preferred Stock is presented in the mezzanine section of the consolidated balance sheets. Voting Rights - The holders of each share of Preferred Stock are entitled to the number of votes equal to the number of shares of common stock into which such shares are convertible. Common Stock The holders of each share of common stock are entitled to one vote for each share of common stock issued and outstanding for the holders. The holders of common stock are also entitled to receive dividends whenever funds are available and when declared by the Board of Directors, subject to the priority rights of holders of all series of Preferred Stock outstanding. Common stock reserved for issuance as of January 31, 2025 and 2024 is summarized as follows:

|                                                                                                            | As of January 31, |     |             |
|                                                                                                            |              2025 |     |        2024 |
| Redeemable convertible preferred stock............................................................         |       146,360,207 |     | 146,360,207 |
| Stock options issued and outstanding.................................................................      |        40,971,097 |     |  41,769,970 |
| RSUs issued and outstanding............................................................................... |         4,653,847 |     |     948,938 |
| Shares of common stock available for future grants.........................................                |         5,486,445 |     |   4,291,678 |
| Redeemable convertible preferred stock warrants............................................                |            40,160 |     |      40,160 |
| Total common stock reserved for issuance........................................................           |       197,511,756 |     | 193,410,953 |

NOTE 12 - INCOME TAXES Loss before income tax expense is as follows (in thousands):

|                                                                                                                               | Year Ended January 31, 
                   2025 |     |       2024 |
|:------------------------------------------------------------------------------------------------------------------------------|-----------------------:|:----|-----------:|
| United States...........................................................................................................      |             $(206,209) |     | $(345,485) |
| Foreign...................................................................................................................... |                 34,701 |     |     19,361 |
| Loss before income tax expense..........................................................................                      |             $(171,508) |     | $(326,124) |

F-38 NAVAN, INC. AND SUBSIDIARIES Notes