New York, June 10, 2026, 18:08 (EDT)
- Navan shares didn’t move much during the session, but jumped in after-hours trading after the company lifted its fiscal 2027 forecast.
- The company reported revenue up 40% to $220.2 million. Gross booking volume increased 50% to $3.1 billion.
- The rally depends on enterprise travel demand and AI-based booking tools delivering more profit.
Navan Inc. shares surged after the bell Wednesday as the corporate travel and expense company posted both stronger revenue growth and lifted its full-year outlook. NAVN finished at $20.87, up 0.92%, before rallying to $24.72 in after-hours action. The company now sees fiscal 2027 revenue rising 30%, compared to its earlier 24% growth view.
Navan’s after-hours move took shares close to the $25 IPO price, a key level for the stock since it started trading on Nasdaq as NAVN back on October 30, 2025. The company sold 36.9 million Class A shares at the IPO: 30 million came from Navan itself and the rest, about 6.9 million, from existing holders.
Gross booking volume was the main driver here. GBV, which is the total dollar amount from all valid bookings made on Navan’s platform (taxes and fees included, cancelations and refunds taken out), climbed 50% from last year to a new high of $3.1 billion, Navan said. Revenue gained 40% to $220.2 million. Usage revenue was $202 million and subscription revenue totaled $18 million.
Navan beat Street views in the quarter. Reuters said analysts were looking for $205.3 million in revenue with an adjusted loss of 1 cent a share. Navan posted non-GAAP diluted earnings of 8 cents a share, or 9 cents basic. Non-GAAP here refers to adjusted numbers outside typical U.S. accounting, usually excluding things like stock compensation.
Navan raised its outlook, sending the stock higher. The company now sees fiscal 2027 revenue at $907 million to $913 million, above the previous range of $866 million to $874 million, and boosted its non-GAAP operating income forecast to $76 million to $80 million from $58 million to $62 million. That is a $40 million bump at the revenue midpoint and an $18 million lift in adjusted operating profit.
Navan CEO Ariel Cohen called it an “outstanding first quarter,” pointing to enterprise momentum and saying the company is “confident to raise our guidance.” Navan said the quarter’s results show its AI-powered travel and expense platform is scaling without giving up all the gains on cost growth. Navan, Inc.
Investors are chasing demand tonight, not just software margins. CFO Aurélien Nolf told Reuters that enterprise clients want “very focused on in-person interactions.” Nolf also said large AI clients are “booming and booking a lot with Navan.” Reuters reported a World Cup lift for Navan too, as the company is seeing Canadian hotel and flight bookings up 295% over last year, and volumes across U.S. sites up 46%. Reuters
Navan launched Navan Anywhere on Tuesday, rolling out AI travel agents for Gemini Enterprise and Google Cloud Marketplace under a deal with Google Cloud. The company says workers can book travel right from workplace tools instead of using a separate app.
Navan posted a GAAP net loss of $21 million, less than the $61 million it lost a year back. Non-GAAP income from operations came in at $24 million, up from $3 million a year ago. The non-GAAP operating margin reached 11%, compared to 2% last year. Profitability still needs a hard look.
The risk is investors may get caught up in the adjusted numbers and overlook the real volatility. Free cash flow was negative $11.6 million for the quarter. Navan is signaling risks tied to growth, competition, customer retention, partners, AI execution, cybersecurity and macro factors that could all put pressure on future results, making today’s forecast less certain.
Navan faces a different test now: holding the higher full-year outlook, with July quarter guidance calling for $219 million to $221 million in revenue and $13.5 million to $14.5 million of non-GAAP operating income. That forecast is tighter than what the after-hours rally suggests.
