NAVN Class A Navan, Inc. - Class A Common Stock
NASDAQ · Hotels, Restaurants & Leisure · View on SEC EDGAR ↗ close Oct 5, 2026 10-K/10-Q Sep 10, 2026NAVN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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About Navan, Inc. - Class A Common Stock Company overview from Wikipedia
Navan, Inc. (formerly TripActions) is an American corporate travel and expense management company headquartered in Palo Alto, California. Founded in May 2015 by Ariel Cohen and Ilan Twig, Navan offers an integrated platform combining travel booking, corporate-issued payment cards, expense reporting, and analytics for businesses worldwide.
History
The Palo Alto, California–based travel company, TripActions Inc., was founded in May 2015 by Ariel Cohen and Ilan Twig (also the founders of StreamOnce, acquired by Jive Software).
In January 2016, TripActions received $14.6 million series A round led by Oren Zeev Ventures and Lightspeed Venture Partners with participation from Group 11. The company officially launched out of stealth mode and announced their funding in January 2017. In October 2017, the company announced that they had raised an additional $12.5 million led by Lightspeed Venture Partners with participation from Zeev Ventures and Group 11.
The company moved in June 2017 from Menlo Park, California, to its headquarters in Palo Alto.
In March 2018, the company announced a $51 million Series B round led by the same two investors with participation from prior investors.
In July 2018, TripActions announced its international expansion to Europe with an office in London and their European headquarters in Amsterdam. They shared potential plans to expand to the Asia-Pacific region to scale their customer support infrastructure.
In November 2018, the company announced a valuation north of $1 billion and a $154 million Series C funding round led by new investor Andreessen Horowitz, with participation from repeat investors Lightspeed Venture Partners, Zeev Ventures, and Group 11. Ben Horowitz joined the Board of Directors.
In February 2019, the company announced its new flight storefront in alignment with major airline partners and industry association ATPCO. The storefront includes branding and imagery of cabin classes and amenities for each airline. It works for domestic and international flights, including international-to-international itineraries, and for flights on joint venture partners of American, Delta and United.
In June 2019, TripActions raised a $250 million Series D funding round from Andreessen Horowitz, Zeev Ventures, Lightspeed Venture Partners and Group 11. The total valuation of the company reached $4 billion.
In November 2019, the company announced that it had enabled an NDC-enabled direct connection to the Lufthansa Group.
In February 2020, the company launched TripActions Liquid, a payment, expense and reconciliation technology integrated into its core platform. Alongside that announcement, the company announced the security of $500 million on credit to fuel the platform.
In June 2020, it raised $125 million in a financing led by Greenoaks, which allowed the company to continue investing in growth and product despite the significant impact of the COVID-19 pandemic.
In October 2020, it expanded the TripActions Liquid product by adding broader expense capabilities.
In January 2021, TripActions raised a $155 million Series E round of funding.
In October 2021, TripActions raised a $275 million Series F round of funding with a valuation near $7.25 billion. It reported having 1500 employees.
In February 2022, TripActions acquired Comtravo, a German corporate travel company with 2,500 clients and 250 employees.
In October 2022, the company raised a $300 million Series G round of funding with a valuation of $9.2 billion.
In February 2023, TripActions rebranded to Navan, bringing together its offerings into a travel and expense services app. The palindrome name Navan has roots in the words "navigate" and "avant" to mean "navigating forward".
In April 2023, Navan announced its agreement to acquire Tripeur, a Bangalore-based modern travel and expense management company, expanding Navan Group’s presence in India. The acquisition marked the fifth purchase in two years.
In December 2023, Navan laid off 5% of its workforce.
As rumors mounted in June 2024 that Navan was pursuing an IPO, they appointed former NYSE exec, Amy Butte, as their CFO.
On 21 October 2025, Navan formally announced their IPO offering nearly 37 million shares. The company went public on 30 October 2025 on the Nasdaq under the ticker NAVN. It reported revenues growing 30% year over year but remained unprofitable.
Partnerships
Users can access mobile apps for Uber and Lyft in their mobile travel itineraries while traveling.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NAVN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -11.5 | · | · | · | |
| P/S (TTM) | 6.9 | · | 2.5 | Overvalued | |
| P/B (MRQ) | 4.3 | · | 8.1 | Undervalued | |
| EV / EBITDA (TTM) | -31.8 | · | · | · | |
| Price / FCF (TTM) | 124.7 | · | · | · | |
| Price / Cash Flow (TTM) | 120.1 | · | 16.2 | Overvalued | |
| EV / Revenue (TTM) | 5.9 | · | · | · | |
| EV / FCF (TTM) | 106.7 | · | · | · | |
| Price / Tangible Book (MRQ) | 4.4 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NAVN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 72.5% | · | · | · | |
| Operating Margin (TTM) | -25.7% | · | 19.8% | Weak | |
| EBITDA Margin (TTM) | -18.5% | · | 21.8% | Weak | |
| Pretax Margin (TTM) | -42.4% | · | 17.0% | Weak | |
| Net Profit Margin (TTM) | -42.1% | · | 10.2% | Weak | |
| ROA | -28.5% | · | 3.4% | Weak | |
| ROE | 204117.9% | · | 24.8% | Top tier | |
| ROIC | -16.4% | · | 17.4% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | NAVN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.0 | · | 1.1 | Low debt | |
| Current Ratio (MRQ) | 4.4 | · | 0.9 | Strong liquidity | |
| Quick Ratio (MRQ) | 3.2 | · | 0.7 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | NAVN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 30.8% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NAVN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.5 | · | 0.6 | Weak | |
| Receivables Turnover | 3.5 | · | 5.7 | Weak | |
| Revenue / Employee | ≈$189.8K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2027 | Sep 9, 2026 | $0.05 | $0.04 | 20.5% |
| March 31, 2027 | Jun 10, 2026 | $0.08 | $-0.01 | — |
| Sept. 30, 2026 | $0.05 | $0.04 | 20.5% | |
| June 30, 2026 | $0.08 | $-0.01 | — | |
| March 31, 2026 | $0.02 | $-0.12 | 116.4% | |
| Dec. 31, 2025 | $0.14 | $-0.25 | 155.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Revenue | $702M | $537M | $402M | |
| Cost of Revenue | $202M | $170M | $163M | |
| Gross Profit | $500M | $367M | $240M | |
| R&D Expense | $151M | $122M | $132M | |
| SG&A Expense | $203M | $134M | $133M | |
| Operating Expenses | $697M | $475M | $486M | |
| Operating Income | $-197M | $-108M | $-246M | |
| Interest Income | $9M | $6M | $5M | |
| Other Non-op | $-693.0K | $-994.0K | $6M | |
| Pretax Income | $-396M | $-172M | $-326M | |
| Income Tax | $2M | $10M | $5M | |
| Net Income | $-398M | $-181M | $-332M | |
| EPS (Basic) | $-4.07 | $-4.00 | $-7.44 | |
| EPS (Diluted) | $-4.07 | $-4.00 | $-7.44 | |
| Shares (Basic) | 97,795,703 | 45,271,666 | 44,583,919 | |
| Shares (Diluted) | 97,795,703 | 45,271,666 | 44,583,919 | |
| EBITDA | $-137M | · | · |
Balance Sheet
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Cash & Equivalents | $584M | $158M | $166M | |
| Short-term Investments | $157M | $0 | · | |
| Receivables | $216M | $185M | · | |
| Prepaid Expense | $55M | $36M | · | |
| Other Current Assets | $17M | $9M | · | |
| Current Assets | $1.31B | $689M | · | |
| PP&E (Net) | $35M | $30M | · | |
| PP&E (Gross) | $65M | $59M | · | |
| Accum. Depreciation | $30M | $29M | · | |
| Goodwill | $241M | $220M | $221M | |
| Intangibles | $19M | $56M | · | |
| Other Non-current Assets | $29M | $21M | · | |
| Total Assets | $1.71B | $1.08B | · | |
| Accounts Payable | $66M | $43M | · | |
| Accrued Liabilities | $26M | $27M | · | |
| Short-term Debt | $584.0K | $176M | · | |
| Current Liabilities | $321M | $446M | · | |
| Capital Leases | $38M | $43M | · | |
| Other Non-current Liabilities | $18M | $23M | · | |
| Total Liabilities | $501M | $970M | · | |
| Long-term Debt | $125M | $618M | · | |
| Total Debt | $584.0K | · | · | |
| Paid-in Capital | $3.23B | $468M | · | |
| Retained Earnings | $-2.02B | $-1.62B | · | |
| AOCI | $-3M | $-38M | · | |
| Stockholders' Equity | $1.21B | $-1.19B | $-1.08B | |
| Liabilities + Equity | $1.71B | $1.08B | · | |
| Shares Outstanding | 249,174,777 | 45,782,871 | 45,117,008 |
Cash Flow
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| D&A | $60M | $25M | $27M | |
| Stock-based Comp | $182M | $77M | $76M | |
| Deferred Tax | $-11M | $1.0K | $-3M | |
| Amort. of Intangibles | $36M | · | · | |
| Other Non-cash | $201M | · | · | |
| Operating Cash Flow | $34M | $-50M | $-166M | |
| CapEx | $917.0K | $994.0K | $561.0K | |
| Investing Cash Flow | $-203M | $45M | $-109M | |
| Debt Issued | $216M | $86M | $206M | |
| Net Debt Issued | $216M | · | · | |
| Financing Cash Flow | $520M | $53M | $213M | |
| Net Change in Cash | $357M | $43M | $-63M | |
| Free Cash Flow | $33M | · | · |
Profitability
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Gross Margin | 71.3% | · | · | |
| Operating Margin | -28.0% | · | · | |
| Net Margin | -56.7% | · | · | |
| Pretax Margin | -56.4% | · | · | |
| EBITDA Margin | -19.5% | · | · | |
| ROA | -28.5% | · | · | |
| ROE | 204117.9% | · | · | |
| ROIC | -16.4% | · | · |
Liquidity & Solvency
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Current Ratio | 4.1 | · | · | |
| Quick Ratio | 3.0 | · | · | |
| Debt / Equity | 0.0 | · | · |
Efficiency
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Asset Turnover | 0.5 | · | · | |
| Receivables Turnover | 3.5 | · | · |
Per Share
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Book Value / Share | $4.85 | · | · | |
| Revenue / Share | $7.18 | · | · | |
| Cash Flow / Share | $0.34 | · | · | |
| Cash / Share | $2.34 | · | · | |
| EPS (TTM) | $-4.07 | · | · |
Growth Rates
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Revenue YoY | 30.8% | 33.5% | · |
Valuation (TTM)
| Metric | Trend | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| Revenue TTM | $702M | · | · | |
| Net Income TTM | $-398M | · | · | |
| Market Cap | $3.00B | · | · | |
| Enterprise Value | $2.26B | · | · | |
| P/E | -3.0 | · | · | |
| P/S | 4.3 | · | · | |
| P/B | 2.5 | · | · | |
| P / Tangible Book | 3.2 | · | · | |
| P / Cash Flow | 89.1 | · | · | |
| P / FCF | 91.6 | · | · | |
| EV / EBITDA | -16.5 | · | · | |
| EV / FCF | 69.0 | · | · | |
| EV / Revenue | 3.2 | · | · | |
| Earnings Yield | -33.8% | · | · |
Income Statement
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $233M | $220M | $178M | $195M | $172M | $157M | $132M | $151M | |
| Cost of Revenue | $60M | $57M | $52M | $57M | $47M | $46M | $43M | $45M | |
| Gross Profit | $172M | $163M | $126M | $138M | $125M | $112M | $89M | $107M | |
| R&D Expense | $47M | $39M | $35M | $51M | $33M | $31M | $32M | $33M | |
| SG&A Expense | $48M | $50M | $63M | $71M | $35M | $34M | $33M | $35M | |
| Operating Expenses | $200M | $181M | $215M | $217M | $137M | $128M | $122M | $126M | |
| Operating Income | $-26M | $-18M | $-89M | $-79M | $-12M | $-16M | $-33M | $-19M | |
| Interest Income | $5M | $5M | $6M | $1M | $1M | $1M | $1M | $2M | |
| Other Non-op | $-247.0K | $405.0K | $-803.0K | $324.0K | $-213.0K | $0 | $-699.0K | $-376.0K | |
| Pretax Income | $-26M | $-20M | $-82M | $-222M | $-35M | $-57M | $-47M | $-37M | |
| Income Tax | $3M | $802.0K | $-9M | $3M | $4M | $4M | $105.0K | $5M | |
| Net Income | $-29M | $-21M | $-73M | $-225M | $-39M | $-61M | $-47M | $-42M | |
| EPS (Basic) | $-0.11 | $-0.08 | $2.87 | $-4.58 | $-0.83 | $-1.33 | $-1.03 | $-0.92 | |
| EPS (Diluted) | $-0.11 | $-0.08 | $2.87 | $-4.58 | $-0.83 | $-1.33 | $-1.03 | $-0.92 | |
| Shares (Basic) | 256,369,621 | 250,281,201 | · | 49,258,348 | 46,546,290 | 46,145,251 | · | 45,324,084 | |
| Shares (Diluted) | 256,369,621 | 250,281,201 | · | 49,258,348 | 46,546,290 | 46,145,251 | · | 45,324,084 | |
| EBITDA | $-26M | $-12M | · | $-79M | · | · | · | · |
Balance Sheet
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $653M | $518M | $584M | $809M | · | · | $158M | · | |
| Short-term Investments | $167M | $162M | $157M | · | · | · | $0 | · | |
| Receivables | $212M | $226M | $216M | $220M | · | · | $185M | · | |
| Prepaid Expense | $55M | $54M | $55M | $60M | · | · | $36M | · | |
| Other Current Assets | · | · | $17M | $21M | · | · | $9M | · | |
| Current Assets | $1.40B | $1.31B | $1.31B | $1.38B | · | · | $689M | · | |
| PP&E (Net) | $38M | $36M | $35M | $33M | · | · | $30M | · | |
| PP&E (Gross) | $69M | $68M | $65M | $59M | · | · | $59M | · | |
| Accum. Depreciation | $31M | $32M | $30M | $26M | · | · | $29M | · | |
| Goodwill | $237M | $238M | $241M | $233M | · | · | $220M | · | |
| Intangibles | $18M | $18M | $19M | $55M | · | · | $56M | · | |
| Other Non-current Assets | $27M | $28M | $29M | $25M | · | · | $21M | · | |
| Total Assets | $1.81B | $1.71B | $1.71B | $1.79B | · | · | $1.08B | · | |
| Accounts Payable | $57M | $63M | $66M | $62M | · | · | $43M | · | |
| Accrued Liabilities | $36M | $30M | $35M | $32M | · | · | $27M | · | |
| Short-term Debt | $867.0K | $316.0K | $584.0K | $1M | · | · | $176M | · | |
| Current Liabilities | $321M | $305M | $321M | $307M | · | · | $446M | · | |
| Capital Leases | $32M | $35M | $38M | $37M | · | · | $43M | · | |
| Other Non-current Liabilities | $18M | $14M | $18M | $24M | · | · | $23M | · | |
| Total Liabilities | $495M | $478M | $501M | $574M | · | · | $970M | · | |
| Long-term Debt | · | $124M | $125M | $207M | · | · | $618M | · | |
| Total Debt | $867.0K | $316.0K | · | $1M | · | · | · | · | |
| Paid-in Capital | $3.39B | $3.28B | $3.23B | $3.18B | · | · | $468M | · | |
| Retained Earnings | $-2.06B | $-2.04B | $-2.02B | $-1.94B | · | · | $-1.62B | · | |
| AOCI | $-10M | $-9M | $-3M | $-17M | · | · | $-38M | · | |
| Stockholders' Equity | $1.32B | $1.24B | $1.21B | $1.22B | · | · | $-1.19B | · | |
| Liabilities + Equity | $1.81B | $1.71B | $1.71B | $1.79B | · | · | $1.08B | · | |
| Shares Outstanding | 259,897,822 | 252,571,413 | 249,174,777 | 248,591,155 | · | · | 45,782,871 | · |
Cash Flow
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $6M | $6M | $42M | $6M | $6M | $6M | $6M | · | |
| Stock-based Comp | $42M | $37M | $47M | $99M | $19M | $17M | $17M | · | |
| Deferred Tax | $485.0K | $-886.0K | $-12M | $47.0K | $350.0K | $0 | $537.0K | · | |
| Other Non-cash | · | $-28M | · | · | · | · | · | · | |
| Operating Cash Flow | $25M | $-7M | $35M | $-6M | $233.0K | $5M | $-9M | · | |
| CapEx | $923.0K | $105.0K | $328.0K | $401.0K | $98.0K | $90.0K | $220.0K | · | |
| Investing Cash Flow | $5M | $-29M | $-153M | $-38M | $-8M | $-3M | $42M | · | |
| Debt Issued | $769.0K | $0 | $550.0K | $25M | $16M | $175M | $1M | · | |
| Net Debt Issued | · | $0 | · | · | · | · | · | · | |
| Financing Cash Flow | $74M | $14M | $-111M | $624M | $-55M | $62M | $-25M | · | |
| Net Change in Cash | $103M | $-23M | $-227M | $580M | $-64M | $68M | $5M | · | |
| Free Cash Flow | · | $-7M | · | · | · | · | · | · |
Profitability
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.1% | 74.0% | · | 70.7% | · | · | · | · | |
| Operating Margin | -11.0% | -8.2% | · | -40.6% | · | · | · | · | |
| Net Margin | -12.5% | -9.3% | · | -115.6% | · | · | · | · | |
| Pretax Margin | -11.3% | -8.9% | · | -113.9% | · | · | · | · | |
| EBITDA Margin | -11.0% | -5.6% | · | -40.6% | · | · | · | · | |
| ROA | -3.2% | -2.4% | · | -25.1% | · | · | · | · | |
| ROE | -4.4% | -3.3% | · | -37.0% | · | · | · | · | |
| ROIC | -2.1% | -1.5% | · | -6.6% | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.4 | 4.3 | · | 4.5 | · | · | · | · | |
| Quick Ratio | 3.2 | 3.0 | · | 3.4 | · | · | · | · | |
| Debt / Equity | 0.0 | 0.0 | · | 0.0 | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.2 | · | · | · | · | |
| Receivables Turnover | 2.2 | 1.9 | · | 1.8 | · | · | · | · |
Per Share
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $5.06 | $4.90 | · | $4.90 | · | · | · | · | |
| Revenue / Share | $0.91 | $0.88 | · | $3.96 | · | · | · | · | |
| Cash Flow / Share | · | $-0.03 | · | · | · | · | · | · | |
| Cash / Share | $2.51 | $2.05 | · | $3.25 | · | · | · | · | |
| EPS (TTM) | $-1.90 | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $826M | · | · | · | · | · | · | · | |
| Net Income TTM | $-348M | $-357M | · | $-372M | $-188M | $-193M | · | · | |
| Market Cap | $6.92B | $4.42B | · | $5.04B | · | · | · | · | |
| Enterprise Value | $6.10B | $3.74B | · | $4.23B | · | · | · | · | |
| P/E | -14.0 | · | · | · | · | · | · | · | |
| P/S | 8.4 | · | · | · | · | · | · | · | |
| P/B | 5.3 | 3.6 | · | 4.1 | · | · | · | · | |
| P / Tangible Book | 6.5 | 4.5 | · | 5.4 | · | · | · | · | |
| P / Cash Flow | · | -649.8 | · | · | · | · | · | · | |
| EV / Revenue | 7.4 | · | · | · | · | · | · | · | |
| Earnings Yield | -7.1% | · | · | · | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2026-01-31 | 2025-01-31 | 2024-01-31 |
|---|---|---|---|
| Revenue | $702M | $537M | $402M |
| Gross Margin % | 71.3% | · | · |
| Operating Margin % | -28.0% | · | · |
| Net Income | $-398M | $-181M | $-332M |
| Diluted EPS | $-4.07 | $-4.00 | $-7.44 |
| Metric | 2026-01-31 | 2025-01-31 | 2024-01-31 |
|---|---|---|---|
| Debt / Equity | 0.0 | · | · |
| Current Ratio | 4.1 | · | · |
| Quick Ratio | 3.0 | · | · |
| Metric | 2026-01-31 | 2025-01-31 | 2024-01-31 |
|---|---|---|---|
| Free Cash Flow | $33M | · | · |
Institutional owners (13F) 218 filers · $3.8B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 96 (+29 vs prior Q) | 32 (+5 vs prior Q) | 67 (+28 vs prior Q) | 32 (+5 vs prior Q) | +19.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| LIGHTSPEED MANAGEMENT COMPANY, L.L.C. | $953,639,160 | 41,698,258 | 25.10% | Shares |
| a16z Capital Management, L.L.C. | $645,361,120 | 28,218,676 | 16.98% | Shares |
| COSMIC MANAGEMENT, LLC | $163,263,647 | 7,138,769 | 4.30% | Shares |
| BlackRock, Inc. | $153,243,338 | 6,700,627 | 4.03% | Shares |
| Napean Trading & Investment Co (Singapore) PTE Ltd | $134,344,258 | 5,874,257 | 3.54% | Shares |
| BIT Capital GmbH | $119,168,709 | 5,210,700 | 3.14% | Shares |
| MILLENNIUM MANAGEMENT LLC | $98,283,436 | 4,297,483 | 2.59% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $91,018,872 | 3,979,837 | 2.40% | Shares |
| Capital International Investors | $82,347,872 | 3,600,694 | 2.17% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $74,940,712 | 3,276,813 | 1.97% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $72,318,485 | 3,162,155 | 1.90% | Shares |
| VANGUARD GROUP INC | $56,847,654 | 3,328,317 | 1.50% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $55,600,906 | 2,431,172 | 1.46% | Shares |
| Schonfeld Strategic Advisors LLC | $54,662,843 | 2,390,155 | 1.44% | Shares |
| BANK OF AMERICA CORP /DE/ | $50,100,531 | 2,190,666 | 1.32% | Shares |
| ALKEON CAPITAL MANAGEMENT LLC | $49,977,308 | 2,185,278 | 1.32% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $46,745,999 | 2,043,728 | 1.23% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $46,262,419 | 2,022,843 | 1.22% | Shares |
| STATE STREET CORP | $40,311,188 | 1,762,623 | 1.06% | Shares |
| Walleye Capital LLC | $35,861,601 | 1,568,063 | 0.94% | Shares |
| MORGAN STANLEY | $33,914,060 | 1,482,905 | 0.89% | Shares |
| Nuveen, LLC | $32,233,207 | 1,409,410 | 0.85% | Shares |
| ALLIANCEBERNSTEIN L.P. | $31,490,638 | 2,378,447 | 0.83% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $30,770,693 | 1,345,461 | 0.81% | Shares |
| AMERIPRISE FINANCIAL INC | $29,581,956 | 1,293,483 | 0.78% | Shares |
| FMR LLC | $25,873,243 | 1,131,318 | 0.68% | Shares |
| UBS Group AG | $24,012,470 | 1,049,955 | 0.63% | Shares |
| GREENOAKS LLC | $23,098,700 | 1,010,000 | 0.61% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $21,082,778 | 921,853 | 0.55% | Shares |
| JPMORGAN CHASE & CO | $20,613,876 | 864,917 | 0.54% | Shares |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC | $18,991,088 | 830,393 | 0.50% | Shares |
| NORGES BANK | $18,897,687 | 826,309 | 0.50% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $18,159,283 | 794,022 | 0.48% | Shares |
| E20 Capital Ltd | $17,087,000 | 747,136 | 0.45% | Shares |
| FRANKLIN RESOURCES INC | $16,352,885 | 715,037 | 0.43% | Shares |
| NORTHERN TRUST CORP | $16,105,992 | 704,241 | 0.42% | Shares |
| G2 Investment Partners Management LLC | $15,842,484 | 692,719 | 0.42% | Shares |
| FEDERATED HERMES, INC. | $15,005,739 | 656,132 | 0.39% | Shares |
| CITADEL ADVISORS LLC | $14,778,594 | 646,200 | 0.39% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $14,285,242 | 624,628 | 0.38% | Shares |
| GOLDMAN SACHS GROUP INC | $13,266,544 | 580,085 | 0.35% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $11,802,224 | 516,057 | 0.31% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $11,435,000 | 500,000 | 0.30% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $10,761,618 | 470,556 | 0.28% | Shares |
| PRUDENTIAL FINANCIAL INC | $10,560,085 | 461,744 | 0.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,948,450 | 435,000 | 0.26% | Call option |
| TWO SIGMA INVESTMENTS, LP | $9,565,721 | 418,265 | 0.25% | Shares |
| Meridiem Capital Partners LP | $9,180,109 | 401,404 | 0.24% | Shares |
| PB INVESTMENT PARTNERS, L.P. | $8,618,788 | 376,860 | 0.23% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $8,559,000 | 374,249 | 0.23% | Shares |
Company insiders 13 insiders · 5 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ariel M. Cohen | Chairperson and CEO | Sept. 21, 2026 S | 1,035,595 | 0 | 11 | $-38,218,277 |
| Aurelien Pierre Leon Nolf | Chief Financial Officer | March 2, 2026 A | 876,337 | 0 | 0 | $0 |
| Michael Eric Sindicich | President | Sept. 21, 2026 S | 539,341 | 0 | 7 | $-7,214,980 |
| Ilan Ezra Twig | Chief Technology Officer | Sept. 21, 2026 S | 769,820 | 0 | 4 | $-26,711,491 |
| Anne Mary Giviskos | SVP, Strategic Finance and Chief Accounting Officer | March 3, 2026 S | 74,940 | 0 | 3 | $-333,593 |
| Clara Liang | Director | Aug. 20, 2026 A | 10,397 | 0 | 0 | $0 |
| Sandesh Kaveripatnam | Director | Aug. 20, 2026 A | 46,205 | 0 | 0 | $0 |
| Anre D Williams | Director | Aug. 20, 2026 A | 226,029 | 2 | 0 | $2,472,000 |
| Benjamin A. Horowitz | Director | Aug. 20, 2026 A | 11,628 | 12 | 0 | $42,853,974 |
| Arif Janmohamed | Director | June 25, 2026 A | 9,959 | 0 | 8 | $-49,960,710 |
| Shai Weiss | Director | June 25, 2026 A | 37,312 | 0 | 0 | $0 |
| KOUREY MICHAEL R | Director | June 25, 2026 A | 253,253 | 0 | 0 | $0 |
| Amy S Butte | · | Oct. 29, 2025 A | 794,065 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 26 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TRFM · ETF Series Solutions | 0.26% | 23,837 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.14% | 111,877 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.14% | 985,171 SH | Sept. 11, 2026 | Daily |
| FBUF · Fidelity Greenwood Street Trust | 0.11% | 952 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 26,315 NS | July 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.09% | 2,978 NS | July 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.09% | 49,955 NS | July 31, 2026 | N-PORT |
| FYEE · Fidelity Greenwood Street Trust | 0.09% | 7,294 NS | July 31, 2026 | N-PORT |
| FHEQ · Fidelity Greenwood Street Trust | 0.08% | 26,936 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.07% | 600,415 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.07% | 2,675,106 SH | Sept. 11, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.04% | 1,209,191 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.04% | 18,327 SH | Sept. 11, 2026 | Daily |
| ESML · iShares Trust | 0.04% | 50,169 SH | Sept. 11, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 1,903,398 SH | Aug. 19, 2026 | Daily |
| TECB · iShares Trust | 0.02% | 4,669 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 4,860 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 435,017 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 4,108 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 27,962 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 65,385 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,638,792 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 8,600 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 4,390 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 8,602 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 168,931 SH | Sept. 11, 2026 | Daily |
NAVN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
15 analysts · 2026-09-30Mean target $30.87 +41.3%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NAVN | $3.00B | -3.0 | 30.8% | -56.7% | 204117.9% | 71.3% |
| HLT | $66.19B | 46.9 | 7.7% | 12.1% | -32.0% | · |
| CCL | · | 12.8 | 6.4% | 10.4% | 24.8% | · |
| EXPE | $33.14B | 28.9 | 7.6% | 8.8% | 91.1% | · |
| H | · | -291.5 | 6.8% | -0.73% | -1.5% | · |
| NCLH | $10.16B | 24.3 | 3.7% | 4.3% | 22.4% | · |
| WH | · | 30.2 | 1.5% | 13.5% | 37.2% | · |
| CHH | $4.38B | 12.1 | 0.75% | 23.2% | 477.4% | · |
| TNL | $4.45B | 20.5 | 4.1% | 5.7% | -24.7% | · |
| VAC | $1.97B | -6.5 | 1.3% | -6.1% | -13.9% | · |
| HGV | $3.72B | 50.3 | 1.3% | 1.6% | 5.3% | · |
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