TLDR
- Navan jumps after 40% revenue growth and $3.1B booking volume.
- NAVN rallies as strong bookings push fiscal 2027 outlook higher.
- Navan’s Q1 beat shows stronger margins and rising payment volume.
- NAVN surges after hours on revenue growth and improved profitability.
- Navan raises FY2027 guidance after solid booking and revenue gains.
Navan (NAVN) shares gained after the company reported strong first-quarter fiscal 2027 results and raised its full-year outlook. The stock closed at $20.87, up 0.92%, before jumping after hours to $24.75, up 18.59%. The move followed sharp growth in revenue, bookings, payments, and non-GAAP operating income.
Navan Reports 40% Revenue Growth
Navan reported total revenue of $220 million for the quarter ended April 30, 2026. That figure marked a 40% increase from the same period a year earlier. The company linked the growth to stronger booking activity and expanding customer demand.
Usage revenue reached $202 million, rising 41% year over year during the quarter. Subscription revenue increased 26% to $18 million, adding another layer to overall growth. Navan kept growth broad across its core travel and expense platform.
Gross booking volume climbed 50% year over year and reached $3.1 billion. Payment volume also rose 29% to $1.3 billion during the quarter. Navan showed stronger activity across both travel bookings and payments.
Margins Improve as Business Scales
Navan posted GAAP gross profit of $163 million, with gross margin rising to 74%. A year earlier, GAAP gross margin stood at 71%, based on $112 million in gross profit. The improvement showed better operating leverage as revenue increased.
Non-GAAP gross profit reached $165 million, while non-GAAP gross margin improved to 75%. That compared with $113 million and a 72% margin in the prior-year quarter. The company continued to reduce losses while expanding adjusted profitability.
GAAP loss from operations totaled $18 million, compared with a $16 million loss last year. GAAP operating margin improved to negative 8% from negative 10%. Non-GAAP operating income rose to $24 million, up from $3 million one year earlier.
Navan Raises Fiscal 2027 Outlook
Navan reported a GAAP net loss of $21 million for the quarter. That marked a strong improvement from a $61 million net loss last year. Non-GAAP net income reached $22 million, compared with a $7 million loss.
The company also highlighted new AI tools and broader enterprise adoption. It launched Navan Anywhere, which embeds travel booking into workplace tools such as Gemini Enterprise. Navan also introduced AI features for travel administration, expense control, booking, and audit protection.
For the second quarter, Navan expects revenue between $219 million and $221 million. For fiscal 2027, it raised revenue guidance to between $907 million and $913 million. The company also expects full-year non-GAAP operating income between $76 million and $80 million.
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