Navan Files for an IPO

Corporate travel startup Navan filed for an IPO Friday, though it has not yet disclosed the number of shares or price range. If it moves forward, the company plans to list on Nasdaq under the ticker symbol NAVN, according to its S-1 filing.

Navan stated that it notched a net loss of $181 million in fiscal 2025, a 45% year-over-year drop. Revenue grew 33% to $537 million.

It said a portion of the net proceeds would be used to pay down debt, including a term loan provided by VCP Capital Markets. The outsta