Key facts
- Navan raised its fiscal 2027 revenue forecast to $927 million-$933 million.
- Navan raised its fiscal 2027 adjusted operating income forecast to $82 million-$86 million.
- Gross booking volume grew 45% in Navan's second quarter.
- Payment volume grew 34% in Navan's second quarter.
- Navan reported second-quarter revenue of $233 million, a 35% increase.
- Navan acquired AI-powered event-management platform BoomPop for up to $95 million.
Corporate travel and expense platform Navan has raised its full-year forecasts for revenue and operating income for fiscal 2027, driven by strong demand for business travel and an increase in new customers. The company now expects revenue between $927 million and $933 million, up from its previous forecast of $907 million to $913 million. Adjusted operating income is projected to be in the range of $82 million to $86 million, an increase from the prior expectation of $76 million to $80 million.
Navan reported that gross booking volume grew 45% and payment volume increased by 34% in its second quarter. CFO Aurélien Nolf stated that demand for corporate travel has been exceptionally strong, with travelers taking more trips year-over-year, each generating higher bookings.
In the second quarter, Navan reported an adjusted profit per share of 5 cents, surpassing Wall Street expectations of 4 cents. Revenue for the period rose 35% to $233 million, exceeding analysts' estimates of $220.46 million. The company also anticipates third-quarter revenue to be between $253 million and $255 million, higher than the $248.27 million expected by analysts.
Separately, Navan announced its agreement to acquire AI-powered event-management platform BoomPop for an undisclosed amount, valued at up to $95 million in cash and stock.
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