Wednesday, Navan (NASDAQ: NAVN) reported its first-quarter results after market close.
The company’s earnings per share were $0.08, surpassing analyst expectations of a $0.01 loss and marking a 153.3 percent increase from a year earlier.
Navan generated quarterly revenue of $220.23 million, a 39.9 percent increase from the previous year, exceeding Wall Street’s forecast of $205.27 million.
Usage revenue for the first quarter was $202 million, up 41 percent year-over-year, while subscription revenue reached $18 million, a 26 percent increase.
The first quarter Gross Booking Volume rose 50 percent to $3.1 billion, and Payment Volume increased 29 percent to $1.3 billion during the quarter.
For the second quarter of fiscal year 2027, Navan projects revenue between $219.00 million and $221.00 million, compared to analyst estimates of $213.85 million.
The company anticipates full-year revenue for fiscal 2027 to range from $907.00 million to $913.00 million, against analyst expectations of $884.47 million.
Ariel Cohen, Navan co-founder and CEO, stated, “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.”
