New York, June 11, 2026, 09:03 EDT
- Navan shares jumped 21.18% to $25.29 premarket after ending Wednesday at $20.87.
- The company increased its fiscal 2027 revenue guidance to a range of $907 million to $913 million. It also raised its non-GAAP operating income forecast, now expecting $76 million to $80 million.
- Navan’s gross booking volume jumped 50% to $3.1 billion. That figure tracks valid bookings after cancellations and refunds.
Navan Inc. shares took off ahead of the bell Thursday after the company lifted its full-year forecast on stronger booking growth and improved adjusted profits. Navan stock was up 21.18% in premarket trading at $25.29, according to Google Finance, versus $20.87 at Wednesday’s close.
Navan is raising its guidance after its earnings beat. The company now sees fiscal 2027 revenue between $907 million and $913 million, Reuters said, compared with its earlier range of $866 million to $874 million. Navan also increased its outlook for adjusted operating profit to $76 million to $80 million, up from $58 million to $62 million.
Navan posted Q1 revenue of $220.2 million, up from $157.5 million in the same period last year. Usage revenue was $202 million, a 41% gain, while subscription revenue added 26% to $18 million. Gross booking volume came in at $3.1 billion. Payment volume on Navan-issued cards rose 29% to $1.3 billion.
Investors are watching whether Navan is just benefiting from a travel rebound or actually building a stronger software and payments business with better margins. Non-GAAP income from operations climbed to $24 million from $3 million a year ago, and non-GAAP operating margin hit 11%, up from 2%. These numbers leave out things like stock-based pay and amortization—Navan includes them for what it calls extra insight, but says they shouldn’t replace standard GAAP accounting.
GAAP results stayed mixed. Navan posted a net loss of $21 million, trimming its loss from $61 million last year. GAAP operating loss came in at $18 million, versus $16 million in the same period a year ago, but the operating margin improved to negative 8%, up from negative 10%.
CEO Ariel Cohen linked the higher full-year outlook to strength from enterprise clients. “Our strong performance and continued enterprise momentum give us the confidence to raise our guidance for the fiscal year,” Cohen said in the filing. CFO Aurélien Nolf said steady bookings, more new customers, and rising payments volume all supported the growth. SEC
Navan counts big clients from AI, tech, manufacturing and healthcare, Reuters reported. “We see enterprise customers very focused on in-person interactions between their team members and their customers,” Nolf told Reuters. He added that Navan holds “a very large share” of major AI firms. Reuters
AI drove the move. Navan on Tuesday launched Navan Anywhere, saying its AI travel agents are now up on Google Cloud Marketplace and built into Gemini Enterprise. These AI agents, which Navan describes as software for handling tasks, let users plan, book, and manage travel right inside Gemini Enterprise. There’s no need to open another travel app.
Navan wants to show that adding new products can push up bookings rather than just grab headlines. The company said its Navan Anywhere product has a “headless architecture,” so its travel, policy, and expense systems can connect to other user interfaces. Navan plans to widen access to more corporate platforms and third-party interfaces later this year. Navan, Inc.
Navan got a quick boost from analysts after the numbers. Investing.com said Thursday that Needham hiked its price target on Navan to $30, up from $25, and stayed at Buy. Needham pointed to Navan’s strong Q1, business travel demand and gains with large enterprise clients.
Navan’s stock jumped before the open, but that move could be factoring in too much optimism. The company still reported a GAAP loss and negative free cash flow of $11.6 million for the quarter. Navan’s filing also called out risks, naming growth, competition, keeping customers, reliance on other parties, cybersecurity, macro headwinds, and the chance its AI products might not deliver.
Navan set its fiscal Q2 revenue outlook at $219 million to $221 million, aiming for 28% growth at the midpoint. Non-GAAP operating income is forecast between $13.5 million and $14.5 million. The stock climbed as buyers looked for the company to keep up momentum once the bump from the higher annual guidance is out of the way.
