Key facts
- Navan raised its full-year revenue forecast to $907 million-$913 million for fiscal 2027.
- The company increased its adjusted operating profit outlook to $76 million-$80 million.
- First-quarter revenue increased 40% year-over-year to $220.2 million.
- Gross booking volume (GBV) rose 50% to $3.1 billion in the first quarter.
- Navan reported a net loss of $20.5 million for the first quarter, compared to a $61.3 million loss a year earlier.
Navan, a corporate travel and expense management platform, has raised its full-year financial forecasts, driven by resilient business travel demand and growth in its enterprise customer base. The company now expects revenue between $907 million and $913 million for fiscal 2027, an increase from its previous projection of $866 million to $874 million. The adjusted operating profit outlook was also boosted to $76 million-$80 million, up from $58 million-$62 million.
First-quarter revenue grew approximately 40% year-over-year to $220.2 million, with gross booking volume (GBV) jumping 50% to $3.1 billion. Navan reported a net loss of $20.5 million, or 8 cents per share, for the quarter ending April, a significant improvement from a $61.3 million loss in the same period last year.
The company attributes its strong performance to resilient on-platform booking activity, successful onboarding of new customers, and expanding payment volumes. Business travel, particularly within the technology sector fueled by AI spending, has remained robust, with companies prioritizing in-person meetings and events. Navan is also seeing increased booking volumes related to the World Cup, with a 295% rise in Canada and a 46% rise in U.S. venues compared to the previous year.