Navan Raises Forecasts as Revenue Hits $233 Million

Navan reported fiscal second-quarter revenue of about $233 million, surpassing analyst expectations, as gross booking volume rose 45% and payment volume increased 34%. Growth was especially strong in its Strategic Leisure Group, where signed gross booking value climbed 60% year over year to $4 billion on a trailing 12-month basis. The corporate travel and expense platform raised its fiscal 2027 revenue forecast to $927 million-$933 million, up from its previous projection of $907 million-$913 million, citing sustained demand for in-person meetings and business travel. Navan also agreed to acquire AI-powered event-management startup BoomPop for up to $95 million, expanding its presence in corporate meetings and events. Despite the operating momentum, the company remains unprofitable, trades at an elevated price-to-sales ratio, and has seen substantial net insider selling.