Navan tumbles on cost concerns, overshadowing strong quarter

Navan

10/09/2026 10:07

** Corporate travel and expense platform Navan's NAVN.O shares dip 13.8% to $22.3 premarket
** Co beats Q2 estimates and raises full-year forecast but reports higher operating costs
** Operating expenses increase 46% to $200.2 million in Q2, outpacing 35% revenue growth, while operating loss widens to $25.6 million from $12.3 million a year earlier
     ** Raises fiscal year rev forecast range to $927 million-$933 million from $907 million-$913 million and hikes adj operating income outlook to $82 million-$86 million
** For Q3, co forecasts rev of $253 million-$255 million, above analysts' expectations of $248.27 million, per LSEG data
** Average rating of 15 analysts is "buy"; median PT $30 - per LSEG-compiled data
** Stock is up about 51.6% YTD, compared to a 13% rise in the Nasdaq .IXIC

 (Reporting by Joel Jose in Bengaluru)
 ((joeljose@thomsonreuters.com))