Navan (NAVN)
Unifies corporate travel booking, payments, and expense management on one platform.
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Unifies corporate travel booking, card payments, expense automation, and managed services for businesses worldwide. Revenue comes mainly from travel transactions and supplier commissions, with additional card-volume fees and expense subscriptions; operations depend on corporate travel demand and third-party travel and payment networks.
Combines corporate travel booking, payments, and expense management in one platform. Travel covers flights, hotels, rail, and rental cars; Corporate Payments provides virtual and physical cards; Expense Management automates policy controls and reconciliation. Meetings and Events, VIP, and Bleisure add group, high-touch, and work-linked personal travel.
Serves small businesses through global enterprises, with most revenue from US customers and a meaningful international presence. Navan Cloud aggregates real-time inventory from suppliers and distribution partners, while Navan Cognition applies machine learning and virtual agents across booking, service, and expense workflows.
Earns transaction fees, supplier commissions, card-volume fees, and expense subscriptions. Revenue remains primarily driven by travel volume; operations also depend on travel inventory, issuing partners, ticketing licenses, and payment and data-privacy rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 10, 2026 | Cowen & Co. | Target | Target: — | Target: $31 |
| Aug 27, 2026 | Oppenheimer | Reiterate | Rating: —Target: $30 | Target: $35 |
| Jul 13, 2026 | BNP Paribas | Reiterate | Rating: —Target: $24 | Target: $30 |
| Jun 11, 2026 | Oppenheimer | Target | Target: $28 | Target: $30 |
| Jun 11, 2026 | BMO Capital | Reiterate | Rating: —Target: $22 | Target: $30 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 31, 2026Cash & short-term investments $909.9M · Total debt $170.2M · Total assets $1.81B · Shareholders' equity $1.32B
- Revenue
- $232.8M
- Operating income
- −$27.6M
- Net income
- −$29.1M
No dividends on record.
| Institutions | ≈ 69.97% | 167.25M shares | |
|---|---|---|---|
| 218 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≈ 30.03% | 71.78M shares | |
| remainder | |||
239.03M company shares as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Lightspeed Management Company, L.L.C.Institution | 17.45% | 41.70M | as of Jun 30, 2026 |
Ah Capital Management, L.L.C.Institution | 11.81% | 28.22M | as of Jun 30, 2026 |
Lightspeed Venture Partners X, L.P.Institution | 9.78% | 23.37M | filed Feb 17, 2026 |
Cosmic Management, LLCInstitution | 2.99% | 7.14M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 2.80% | 6.70M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Navan | $20.84 | −3.23% | $5.15B | — | 74.2 | 6.2 | +35.4% |
| Global Business Travel Group | $9.48 | +0.16% | $4.94B | 59.1 | 45.1 | 1.6 | +37.9% |
| SAP (ADR) | $208.73 | −0.23% | $243.79B | 26.8 | 22.9 | 5.6 | +5.8% |
| Expensify | $2.31 | −0.65% | $223.7M | — | 23.8 | 1.6 | −5.3% |
| Sabre | $2.32 | −0.64% | $921.1M | 1.4 | 15.1 | 0.3 | +3.6% |
| Booking | $161.21 | −4.34% | $130.58B | 18.7 | 14.5 | 4.6 | +8.2% |
| Median | 22.7 | 22.9 | 1.6 | +5.8% |