Navan on Wednesday raised its fiscal 2027 revenue and adjusted operating income forecasts, citing sustained business travel demand and growth among enterprise clients. The travel and expense management platform said improved booking activity and payments volume supported the outlook, and its share price jumped 17% in extended trading after the announcement.
The company, which derives most of its revenue from large corporate customers across sectors including artificial intelligence and technology, manufacturing and healthcare, now expects full-year revenue of $907 million to $913 million. That range was boosted from a prior forecast of $866 million to $874 million.
Navan also lifted its adjusted operating profit guidance for the year to $76 million to $80 million, up from the earlier $58 million to $62 million range.
Management pointed to a sizable increase in demand during the quarter. Gross booking volume - a key metric for assessing travel activity - rose 50% to $3.1 billion in the first quarter. First-quarter revenue grew roughly 40% to $220.2 million.
The company reported a net loss of $20.5 million, or 8 cents per share, for the quarter through April, an improvement from a loss of $61.3 million, or $1.33 per share, reported in the comparable period a year earlier.
Navan said corporate travel demand has held up, helped in part by an increase in spending from technology firms and activity supported by the AI boom, as companies continue to prioritize in-person meetings, conferences and client visits. The firm is also seeing a lift from travel tied to the World Cup, reporting hotel and flight booking volumes up 295% year-over-year in Canada and 46% across U.S. venues.
Commenting on the quarter, CFO Aur e9lien Nolf said, "The strength (in revenue and GBV) was driven by very resilient on-platform booking activity, strong new-customer ramps, and rapidly expanding payments volume."
Summary: Navan upgraded its 2027 revenue and adjusted operating income guidance after a quarter marked by a substantial increase in gross booking volume, solid revenue growth and narrower net losses. Strength came from enterprise client expansion, higher on-platform bookings, payments growth and event-driven travel volumes.
- Key sectors impacted: Corporate travel, technology, manufacturing, healthcare and financial technology tied to payments and expense management.
- Market reaction: Shares rose 17% in extended trading following the guidance increase.