Navan (NAVN) Operating Expenses (2024 - 2026)
Navan's (NAVN) quarterly Operating Expenses came in at $181.2 million in Q2 2026, up 41.88% year-over-year from $127.7 million in Q2 2025, and down 15.85% quarter-over-quarter from $215.3 million in Q1 2026.
Analysis
Navan (NAVN) Operating Expenses (2024 - 2026) Analysis & Trends
Navan has disclosed Operating Expenses across 3 years of filings, most recently posting $181.2 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 41.88% year-over-year to $181.2 million; the TTM figure through Apr 2026 stood at $741.2 million (changed N/A YoY), while the FY2026 annual figure was $697.3 million, up 46.92% from the prior year.
- Operating Expenses came in at $181.2 million for Q2 2026 at Navan, down from $215.3 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $217.1 million in Q4 2025 to a low of $122.1 million in Q1 2025.
- Average Operating Expenses over 3 years is $164.9 million, with a median of $154.4 million recorded in 2025.
- The largest YoY upside for Operating Expenses was 76.38% in 2026 against a maximum downside of 41.88% in 2026.
- Over 3 years, Operating Expenses stood at $126.1 million in 2024, then surged by 72.22% to $217.1 million in 2025, then fell by 16.55% to $181.2 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $181.2 million in Q2 2026, $215.3 million in Q1 2026, and $217.1 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuit | 91.01 Bn | 84.23 Bn | 7.24 Bn | 4.54 Bn |
| 2 | Clearwater Analytics Holdings | 7.30 Bn | 7.22 Bn | 145.55 Mn | 136.56 Mn |
| 3 | Navan | 7.02 Bn | 6.34 Bn | 163.06 Mn | 181.16 Mn |
| 4 | BILL Holdings | 4.52 Bn | 2.59 Bn | 356.19 Mn | 390.44 Mn |
| 5 | Blackline | 1.91 Bn | 1.41 Bn | 142.68 Mn | 131.69 Mn |
| 6 | Expensify | 218.72 Mn | 152.96 Mn | 16.33 Mn | 19.25 Mn |
| 7 | Ankam | 27.35 Mn | 27.34 Mn | 44,900.00 | 98,357.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Apr 30, 2026 | 181.16 Mn |
| Jan 31, 2026 | 215.28 Mn |
| Oct 31, 2025 | 217.09 Mn |
| Apr 30, 2025 | 127.69 Mn |
| Jan 31, 2025 | 122.05 Mn |
| Oct 31, 2024 | 126.05 Mn |