Lightspeed Management Made a Huge Bet on Navan (NAVN) With a Purchase of 49.9 Million Shares

2 weeks ago 18

Cory Renauer, The Motley Fool

Sun, March 1, 2026 astatine 1:04 PM CST 3 min read

According to an SEC filing dated February 17, 2026, Lightspeed Management Company, L.L.C. initiated a caller presumption successful Navan (NASDAQ:NAVN), acquiring 49,921,454 shares. The quarter-end worth of the NAVN presumption stood astatine $852.66 million.

The caller presumption present represents 61.1% of the fund's 13F reportable AUM.
Top holdings aft the filing:
- NASDAQ: NAVN: $852.66 cardinal (61.1% of AUM)
- NYSE: NOW: $273.22 cardinal (19.6% of AUM)
- NASDAQ: KDK: $80.16 cardinal (5.7% of AUM)
- NYSE: BLND: $70.31 cardinal (5.0% of AUM)
- NASDAQ: PSNL: $64.96 cardinal (4.7% of AUM)
As of February 17, 2026, shares were priced astatine $9.97 per share.

Metric

Value

Price (as of marketplace adjacent Feb. 27, 2026)	$9.74
Market Capitalization	$2.42 billion
Revenue (TTM)	$656.34 million
Net Income (TTM)	($371.92 million)

Navan, Inc. provides an AI-powered bundle level focused connected travel, payments, and disbursal absorption solutions, including booking, argumentation enforcement, outgo processing, and disbursal reconciliation.
Navan chiefly serves finance, quality resources, question managers, and inventory markets.
The institution was formerly known arsenic TripActions, Inc. and changed its sanction to Navan, Inc. successful February 2023.

Navan, Inc. is simply a exertion institution specializing successful AI-driven question and disbursal absorption solutions for businesses. With a beardown beingness successful the endeavor bundle sector, the institution leverages automation to amended ratio and compliance successful firm question and disbursal workflows. Its scalable level and absorption connected idiosyncratic acquisition supply a competitory borderline successful the increasing concern question exertion market.

Lightspeed’s large stake connected Navan and its AI-driven question and disbursal absorption concern haven’t worked retired good for the firm’s portfolio. The banal has fallen by 43% since the extremity of 2025.

Navan doesn’t expect to study results from its fiscal 4th fourth that ended successful January until March 25. During its fiscal 3rd 4th that ended connected Oct. 31, 2025, the institution reported income that roseate by 29% twelvemonth implicit twelvemonth to $194.9 million. The institution besides reported an adjusted gross nett borderline that roseate to 74% from 72% during the erstwhile twelvemonth period.

Navan’s bottommost enactment besides moved successful the close direction, connected an adjusted basis. During its fiscal 3rd quarter, Non-GAAP nett income roseate to $9 cardinal from a nonaccomplishment of $14 million. On a GAAP basis, the institution reported a $225 cardinal nonaccomplishment successful its fiscal 3rd quarter.

Before you bargain banal successful Navan, see this:

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