{
  "url": "https://struct.news/briefs/navan-grew-57-and-generated-cash-its-operating-loss-still-widened",
  "title": "Navan grew 5.7% and generated cash. Its operating loss still widened",
  "summary": "$18.4 million of operating cash flow arrived alongside a 2.8-point operating-margin slide as sales and marketing costs rose 51%.",
  "published_at": "2026-09-10T23:46:15.243501+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Navan, Inc.",
    "ticker": "NAVN",
    "cik": "1628280",
    "sector": "Technology",
    "industry": "Software - Application"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-09-10",
    "accession": "0001628280-26-061416",
    "url": "https://www.sec.gov/Archives/edgar/data/1639723/000162828026061416/navn-20260731.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2026-06-11",
    "url": "https://www.sec.gov/Archives/edgar/data/1639723/000162828026042552/navn-20260430.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 702265000,
      "display": "$702.3M",
      "unit": "usd",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-061416",
        "filing_date": "2026-09-10"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 30.815312655424275,
      "display": "+30.8%",
      "unit": "percent",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-061416",
        "filing_date": "2026-09-10"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": -28.03457384320734,
      "display": "-28.0%",
      "unit": "percent",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-061416",
        "filing_date": "2026-09-10"
      }
    }
  ],
  "watch_next": [
    {
      "type": "demand",
      "statement": "Revenue growth was tied to higher payment volume, a larger customer base, and increased adoption of Expense Management.",
      "importance": "medium",
      "evidence": "The increase in revenue is primarily due to (i) an increase in usage-based revenue driven by an increase in GBV and payment volume as we increased our customer base and expanded engagement with our platform and offerings by existing customers, and (ii) an increase in subscription revenue primarily driven by increased adoption of our Expense Management offering by new and existing customers on our platform.",
      "source_date": "2026-09-10"
    },
    {
      "type": "working_capital",
      "statement": "Operating cash flow turned positive, helped by a lower adjusted net loss but partly offset by cash used for working capital.",
      "importance": "medium",
      "evidence": "The change was primarily due to a decrease in net loss, adjusted for non-cash items, partially offset by an increase in cash used for working capital.",
      "source_date": "2026-09-10"
    },
    {
      "type": "labor_costs",
      "statement": "Cost of revenue rose 27%, primarily from higher salaries and benefits tied to increased headcount.",
      "importance": "medium",
      "evidence": "Cost of revenue for the six months ended July 31, 2026 increased by $24.9 million, or 27%, primarily due to an increase in salaries and related benefits of $11.4 million driven by an increase in headcount.",
      "source_date": "2026-09-10"
    },
    {
      "type": "tax",
      "statement": "Tax expense declined because of lower foreign profits and released unrecognized tax benefits.",
      "importance": "medium",
      "evidence": "Income tax expense for the six months ended July 31, 2026 decreased by $4.4 million, or 55%, primarily due to decreases in foreign profits and the release of unrecognized tax benefits from the settlement of tax examinations.",
      "source_date": "2026-09-10"
    }
  ],
  "related_tickers": [
    "NAVN"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}