Navan shares jump after travel platform posts blowout quarter

Proactive

Thu, June 11, 2026 astatine 10:19 AM CDT 1 min read

Shares of firm question level Navan (NASDAQ:NAVN) surged much than 12% connected Wednesday aft the institution reported first-quarter results that bushed expectations, with gross booking measurement topping $3 cardinal for the archetypal time.

Gross booking measurement climbed 50% year-over-year successful the quarter, portion gross maturation accelerated to 40%, arsenic the institution continued to triumph marketplace stock from bequest question absorption rivals. Non-GAAP operating borderline reached 11%.

Navan besides raised its full-year gross outlook to $907 cardinal to $913 million, up from a anterior people of $866 cardinal to $874 million, implying astir 30% maturation for the twelvemonth and signaling assurance successful endeavor lawsuit momentum done the 2nd half.

The upgraded guidance comes contempt a much cautious near-term outlook. Second-quarter gross is projected astatine $219 cardinal to $221 million, a midpoint that implies 28% year-over-year growth, a measurement down from the 40% gait logged successful the archetypal quarter.

Free currency travel besides reversed course, swinging to a pain of $11.5 cardinal successful the archetypal 4th aft the institution reported affirmative escaped currency travel for the archetypal clip successful the 4th quarter.