NASDAQ$NAVN
Navan, Inc · Q3 2025 earnings
Q3 2025 earnings · · After market close
Briefing
Navan reported strong third quarter results with 29% revenue growth and positive non-GAAP net income, despite a significant GAAP net loss driven by non-operational charges.
Navan achieved solid revenue growth and returned to non-GAAP profitability, bolstered by strong enterprise momentum and increased operating efficiency. GAAP losses widened due to debt extinguishment and fair value adjustments.
Headline financials
Revenue & EPS history
Navan, Inc · Revenue · Quarterly
$195M
Revenue by segment
Navan, Inc · $220M total across 2 segments · Q1 2027
- Usage revenue$202M—91.8%
- Subscription revenue$18M—8.2%
Forward guidance
Navan expects Q4 FY26 revenue to range from $161M to $163M with a non-GAAP operating loss of up to $15.5M. For the full year, revenue is expected to grow 28% with positive non-GAAP operating income.
Tailwinds
- Revenue growth expected to continue at 23% YoY in Q4.
- Full-year revenue guidance raised to $685M–$687M.
- FY26 non-GAAP operating margin forecasted positive at 3%.
- Enterprise momentum continues with major new clients.
- Increased adoption of AI tools improving customer support efficiency.
Headwinds
- Q4 expected to have a non-GAAP operating loss of up to $15.5M.
- GAAP profitability remains out of reach due to high stock-based compensation.
- Seasonality impacts Q4 performance versus Q3.
- Significant prior-year GAAP losses driven by non-operational charges.
- Macroeconomic factors and travel disruptions remain potential risks.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 1 quarterly earnings reports · overlaid with Q3 2025
-3.0%
Avg return
Earnings day
-2.8%
Avg return
5 days after
+0.9%
Avg return
30 days after
33%
1 / 3 earnings
Positive
+8.3%
Q1 2026
Best reaction
-11.9%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | -5.3% | — | — | |
| Q1 2026 | +8.3% | -8.8% | — | |
| Q3 2025 | -11.9% | +3.2% | +0.9% |
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