Navan, Inc. (NAVN) Releases Q3 2026 Earnings: Revenue Beats, Massive Net Loss & EPS Miss

Navan, Inc. (NAVN) — Q3 2026 Results

Navan reported third-quarter 2026 revenue of $194.9 million, up 29.0% year-over-year, beating the consensus revenue estimate of $185.7 million by about 5.0%. Gross profit rose to $137.9 million, an increase of 29.3% compared with the same quarter last year.

Revenue: $194.9 million (up 29.0% YoY)

Revenue estimate: $185.7 million (beat by ~5.0%)

The company recorded an operating loss of $79.2 million, with the operating metric showing a 307.2% year-over-year change. Net loss attributable to common shareholders widened to $225.4 million, a 438.2% year-over-year movement. Diluted earnings per share came in at -$4.58, considerably below the estimate of -$0.25.

Operating result: loss of $79.2 million (307.2% YoY change)

Net loss attributable to common shareholders: $225.4 million (438.2% YoY)

Diluted EPS: -$4.58 (estimate: -$0.25)

Balance sheet and cash-flow highlights showed a strong liquidity position alongside weaker operating cash flow. Cash and cash equivalents increased to $809.1 million, up 413.1% year-over-year, while cash flow from operating activities was negative -$6.1 million, a decline of about 51.0% versus the prior year. Total liabilities declined to $573.8 million, down 40.8% year-over-year.

Cash and cash equivalents: $809.1 million (up 413.1% YoY)

Cash from operations: -$6.1 million (down 51.0% YoY)

Total liabilities: $573.8 million (down 40.8% YoY)

Additional operational detail: cost of sales was $57.1 million (up 28.2% YoY) and capital expenditures (purchases of property, plant and equipment) were approximately $0.4 million (up 100.5% YoY).

Cost of sales: $57.1 million (up 28.2% YoY)

Purchases of property, plant and equipment: $0.4 million (up 100.5% YoY)

Navan, Inc. Insider Trading Activity

Navan, Inc. insiders have traded $NAVN stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.

Here’s a breakdown of recent trading of $NAVN stock by insiders over the last 6 months:

ILAN EZRA TWIG (Chief Technology Officer) sold 1,000,000 shares for an estimated $25,000,000
ARIEL M. COHEN (Chairperson and CEO) has made 0 purchases and 4 sales selling 924,332 shares for an estimated $23,108,300.
MICHAEL ERIC SINDICICH (President) sold 231,842 shares for an estimated $5,796,050

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Navan, Inc. Analyst Ratings

Wall Street analysts have issued reports on $NAVN in the last several months. We have seen 10 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Rosenblatt issued a "Buy" rating on 12/12/2025
BTIG issued a "Buy" rating on 11/24/2025
Goldman Sachs issued a "Buy" rating on 11/24/2025
Citigroup issued a "Buy" rating on 11/24/2025
Needham issued a "Buy" rating on 11/24/2025
Citizens issued a "Market Outperform" rating on 11/24/2025
Mizuho issued a "Outperform" rating on 11/24/2025

To track analyst ratings and price targets for Navan, Inc., check out Quiver Quantitative's $NAVN forecast page.

Navan, Inc. Price Targets

Multiple analysts have issued price targets for $NAVN recently. We have seen 10 analysts offer price targets for $NAVN in the last 6 months, with a median target of $25.0.

Here are some recent targets:

Blair Abernethy from Rosenblatt set a target price of $30.0 on 12/12/2025
Siti Panigrahi from Mizuho set a target price of $25.0 on 11/24/2025
Jed Kelly from Oppenheimer set a target price of $25.0 on 11/24/2025
Chris Quintero from Morgan Stanley set a target price of $19.0 on 11/24/2025
Jake Fuller from BTIG set a target price of $26.0 on 11/24/2025
Kash Rangan from Goldman Sachs set a target price of $29.0 on 11/24/2025
Steven Enders from Citigroup set a target price of $26.0 on 11/24/2025