Added to YB: 2026-04-20
Pitch date: 2026-02-17
NAVN [bullish]
Navan, Inc.
+50.3%
current return
Author Info
No bio for this author
Company Info
Navan, Inc. operates an AI-powered software platform to simplify the travel and expense experience, benefiting users, customers, and suppliers.
Market Cap
$3.6B
Pitch Price
$10.02
Price Target
50.00 (+242%)
Dividend
N/A
EV/EBITDA
-25.15
P/E
-3.55
EV/Sales
4.35
Sector
Hotels, Restaurants and Leisure
Category
growth
Navan, Inc. - $NAVN
NAVN: Broken IPO down 60% to $10 from $25 Oct '25 debut. Unified T&E platform disrupting $185B market. 29% usage rev growth to $180M (Q3), 74% gross margin (+200bps YoY) via AI (Ava deflects 54% support tickets). Supplier-subsidized model flips SaaS economics—airlines/hotels fund software vs charging enterprises. Displacing SAP Concur/Amex GBT. $2B EV = 2.9x FY26 sales. 30%+ op margin achievable at 80% gross margin. PT $50 (5x). Risk: 92% usage rev = travel volume lever, SBC dilution, CFO turnover (new CFO ex-Lyft Mar '26). A16Z buying post-IPO. G2 #1 ranked, NPS 47.
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