NAVAN, INC.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue | $702.3M | $536.8M | $402.3M |
| Cost of Revenue | $201.8M | $169.8M | $162.6M |
| Gross Profit | $500.5M | $367.0M | $239.6M |
| Gross Margin | 71.3% | 68.4% | 59.6% |
| Operating Expenses | |||
| Research & Development | $151.2M | $122.4M | $132.4M |
| SG&A Expense | $203.4M | $133.6M | $133.0M |
| Operating Income | $-196.9M | $-107.6M | $-246.3M |
| Operating Margin | -28.0% | -20.1% | -61.2% |
| Interest Expense | — | — | — |
| Pretax Income | $-395.9M | $-171.5M | $-326.1M |
| Income Tax Expense | $2.1M | $9.6M | $5.4M |
| Net Income | $-398.0M | $-181.1M | $-331.6M |
| Net Margin | -56.7% | -33.7% | -82.4% |
| EPS (Basic) | $-4.07 | $-2.00 | $-3.72 |
| EPS (Diluted) | $-4.07 | $-2.00 | $-3.72 |
| Shares Outstanding (Basic) | 97.8M | 90.5M | 89.2M |
| Shares Outstanding (Diluted) | 97.8M | 90.5M | 89.2M |
| Dividends Per Share | — | — | — |