Short answer
Navan, Inc. (NAVN) filed its Q3 2026 10-Q quarterly report on Sep 10, 2026 for the quarter ended Jul 31, 2026. Quarterly revenue was $233M with net income of −$29M.
Q3 2026 key financials · XBRL
- Revenue
- $233M
- +5.7% QoQ
- Net income
- −$29M
- −42.0% QoQ
- Operating margin
- -11.0%
- Gross margin
- 74.1%
- EPS (diluted)
- −$0.12
- −50.0% QoQ
Source: XBRL data from the Navan, Inc. (NAVN) Q3 2026 10-Q on SEC EDGAR. USD.
Navan, Inc. Q3 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $232.8M, up 35% YoY from $172.0M, driven by usage-based revenue growth
- Gross margin 74% vs 73% YoY; operating margin (11)% vs (7)%
- GBV $3.0B, up 45% YoY; payment volume $1.3B, up 34%
- Net loss $29.1M vs $38.6M; sales and marketing expense $104.6M, up 53%
- Continued sales, marketing, AI, and infrastructure investment; travel seasonality and economic uncertainty headwinds
Risk Factors
- AI-agent accuracy risk expanded, with hallucinations or unintended actions potentially harming customer support quality and gross margins
- R&M customer transition risk newly highlighted, following January 2026 planned migration to the Navan platform
- Travel-demand exposure remains material, with revenue significantly dependent on Travel Management offerings and vulnerable to global disruptions
- Supplier concentration risk, as commission reductions or terminated relationships could reduce inventory, revenue, and margins
- Persistent loss risk, including $49.6 million net loss for six months ended July 31, 2026 and $2.1 billion accumulated deficit
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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