Overview
- Shares closed at $20 after pricing at $25, giving the business travel and expense platform a market value of roughly $6.2 billion under ticker NAVN.
- Navan and selling shareholders offered about 36.9 million shares at $25 each, raising approximately $923 million in total proceeds.
- The listing went forward under SEC guidance that allowed previously cleared offerings to proceed during the regulator’s furlough.
- S-1 disclosures show trailing 12-month revenue of $613 million, $7.6 billion in gross bookings, and continued net losses including a $38.6 million loss in the July quarter.
- Navan pitches an AI-led suite for travel, payments, and expenses, with its Ava assistant handling about half of user interactions and a proprietary framework called Navan Cognition.