Shares of Navan, Inc. (NAVN) were climbing around 17 percent in the pre-market activity on Nasdaq, after the business travel and expense platform raised fiscal 2026 outlook, after reporting sharply narrower first-quarter net loss as revenue growth accelerated on stronger travel bookings.
Net loss for the quarter ended April 30 narrowed to $20.51 million, from a loss of $61.26 million a year earlier. Net loss per share was $0.08, compared with a loss of $1.33 per share in the year-ago quarter.
Meanwhile, loss from operations widened to $18.11 million from loss of $15.89 million in the prior year, due to growth in operating expenses.
Quarterly revenue rose 40 percent to $220.23 million from $157.46 million last year.
Gross Booking Volume grew 50 percent year-over-year to $3.1 billion in the quarter.
"Navan kicked off fiscal 2027 with an outstanding first quarter, driven by accelerating growth across the business and a 50 percent year-over-year increase in Gross Booking Volume. With a strong balance sheet and accelerating momentum across the business, we are raising both our FY'27 revenue and non-GAAP operating profit outlook," Chief Executive Officer Ariel Cohen said.
Looking ahead to the second quarter, Navan said it expects total revenue in the range of $219 million to $221 million, representing year-over-year growth of 28 percent at the midpoint.
Adjusted income from operations is expected to be $13.5 million to $14.5 million, with adjusted operating margin of 6 percent at the midpoint
Further ahead, for full year 2027, Navan now expects total revenue to grow 30 percent at the midpoint to a range of $907 million to $913 million. The company previously expected revenue in the range of $866 million to $874 million, representing year-over-year growth of 24 percent at the midpoint.
Adjusted income from operations is now expected in the range of $76 million to $80 million, with a margin of 9 percent at the midpoint. Navan previously expected adjusted income in the range of $58 million to $62 million and margin of 7 percent at the midpoint.
In pre market activity on Nasdaq, shares of Navan were up 16.29 percent, changing hands at $24.27, after closing Wednesday's regular session 0.92 percent higher.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.