Navan IPO: revenue, losses and offering terms from its S-1
Navan priced its IPO at $25 a share on 31 Oct 2025 and raised $923 million. Its shares trade on Nasdaq as NAVN. Revenue was $537 million in 2025, up 33% from 2024, with a net loss of $181 million.
Headlines
- Revenue, 2025
- $537M
- Up 33% on the year before
- Net loss, 2025
- $181M
- Revenue, 6 months to Jul 2025
- $329M
- Up 30% on a year earlier
- IPO price
- $25
- $923M raised
Navan IPO terms
From the final prospectus (424B4).
- Exchange
- Nasdaq Global Select Market
- Ticker
- NAVN
- IPO price
- $25
- Shares offered
- 36,924,406
- Raised
- $923M
- Registered
- $1.1B, the amount the filing fee is paid on
- Underwriters
- Goldman Sachs & Co. LLC, Citigroup and Jefferies, with 11 more banks
- First filed
- 19 Sep 2025
Navan revenue and profit
| Period | Revenue | Operating income | Net income |
|---|---|---|---|
| 2024 | $402M | - | -$332M |
| 2025 | $537M | -$108M | -$181M |
| 6 months to Jul 2024 | $254M | - | - |
| 6 months to Jul 2025 | $329M | -$28M | -$100M |
Navan share structure and company facts
- Share classes and votes
- Class A: 1 vote, Class B: 30 votes
- Employees
- 3,400
- Headquarters
- Palo Alto, California
Navan shares since the IPO
Latest close 26 Oct 2026
- IPO price
- $25
- Priced 31 Oct 2025
- First close
- $20.27
- -19% on the IPO price
- Latest close
- $27.20
- +9% on the IPO price
Navan's IPO filings
The registration statement, each amendment and the final prospectus, oldest first.
About the data
- Terms and financials are read from Navan's newest prospectus (424B4 filed 31 Oct 2025) by a Kadoa workflow. Check figures that matter against the filing.
- Registered is the amount the filing fee is paid on, often a placeholder before the price range is set.
- Raised is the IPO price times the shares sold, without the underwriters' option. Trading compares the first and latest close with the IPO price.