Navan, Inc. delivered a robust Q4 with 35% year-over-year revenue growth and achieved free cash flow positivity for the first time, indicating strong operational momentum.

• Q4 revenue reached $178 million, driven by a 42% increase in Gross Booking Value (GBV) to $2.3 billion.
• Non-GAAP operating margin was breakeven, reflecting an 1,100 basis points improvement year-over-year.
• Successfully retired the Reed & Mackay brand for future sales, resulting in a strategic non-cash amortization charge of $36.2 million.
• Ended the year with a strong balance sheet, including $741 million in cash and short-term investments, against $125 million in debt.
• Guidance for FY 2027 forecasts revenue between $866 million and $874 million, representing 24% growth at the midpoint.