10-Q · June 11, 2026
Navan, Inc. reported strong Q1 fiscal 2027 results, with revenues rising to $220.2 million, reflecting a 40% increase year-over-year and surpassing consensus estimates. EPS was reported at $0.08, beating the forecast of…
Earnings analysis · 10-Q
NAVN earnings analysis
Filed September 10, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q extract does not contain the financial statements or MD&A needed to assess quarterly revenue, margins, EPS, cash flow or segment trends; those metrics are therefore not reported here. The filing shows…
Read full summary
The supplied 10-Q extract does not contain the financial statements or MD&A needed to assess quarterly revenue, margins, EPS, cash flow or segment trends; those metrics are therefore not reported here. The filing shows $820.0 million of cash, cash equivalents and short-term investments and quarterly international revenue of $78.6 million, or 34% of total revenue. Risk disclosures emphasize the February 23, 2026 securities lawsuit, post-quarter acquisitions and expanding regulatory exposure, while management states that disclosure controls were effective.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
-
$820.0M liquidity position
Cash, cash equivalents and short-term investments totaled $820.0 million as of July 31, 2026, providing a substantial liquidity base for working capital and corporate purposes.
-
Significant international exposure
International revenue was $78.6 million, representing 34% of quarterly revenue, compared with $66.4 million, or 39%, in the prior-year quarter. The filing confirms meaningful international exposure but does not provide the full income statement in the supplied extract.
-
Disclosure controls remain effective
Management concluded that disclosure controls and procedures were effective as of the quarter end, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls.
-
Currency loss increased
Foreign-exchange transaction losses were $2.5 million for the three months ended July 31, 2026, compared with a $0.3 million loss in the prior-year period; management states that a hypothetical 10% currency move would not have a material effect on operating results.
What to watch
-
IPO securities litigation
The filing discloses that a putative securities class action was filed on February 23, 2026, against the company, directors and certain current and former executives, alleging violations of the Securities Act related to IPO offering documents. Litigation could create substantial costs and divert management resources.
-
Post-quarter acquisition integration
Two acquisitions—the Brazilian platform Smartrips and U.S. meetings-and-events company BoomPop—closed after July 31, 2026. The filing warns that acquisition integration could create unforeseen operating difficulties, additional liabilities and impairment charges.
-
Potential California sales-tax exposure
California legislation subjects certain retail sales of digital prewritten software, cloud applications and software services to sales tax effective January 1, 2027. If applicable, the change could increase costs, administrative burdens and tax liabilities.
Management's outlook
The provided 10-Q extract does not include MD&A guidance or a quantitative outlook. Numeric outlook was disclosed in the separate earnings materials, not in the supplied filing text.
Earlier filings 3
10-K · April 2, 2026
Navan positions itself as an AI-first, end-to-end business travel, payments and expense platform built on its proprietary Navan Cloud and Navan Cognition frameworks. The filing highlights strong product engagement (CSAT…
10-Q · December 15, 2025
Navan reported quarterly revenue of $194,934,000 (Q ended Oct 31, 2025), up $43,816,000 (29.0%) versus $151,118,000 in the year-ago quarter, with gross margin essentially flat at ~70.7%. However operating loss widened…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.