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So Navan just dropped their Q3 numbers and honestly, pretty solid quarter. They pulled in $195 million in revenue, which is a sweet 29% jump from last year, largely thanks to strong enterprise momentum and some savvy AI enhancements. They're clearly pushing hard on the AI front with their Cognition platform boosting their market stance. Earnings call also hinted at a planned shift to 'Navan Edge,' aiming to further leverage AI for travel booking. Analysts seemed pretty upbeat about Navan's guidance upgrades, forecasting up to $687 million for the full year, which is up 28% year-over-year. They did note some seasonal headwinds expected in Q4, but Navan appears confident, raising guidance across the board. Ariel Cohen, the CEO, really hammered home the point about AI being the future of their service. All in all, their outlook feels promising. If I had to choose, I'm leaning bullish given their current trajectory and strategic clarity.
Navan's AI agent framework Cognition handles complex travel tasks, maintaining high satisfaction levels.
Navan achieved $195 million in Q3 revenue, marking a 29% year-over-year growth, surpassing expectations.
For Q4, Navan raises revenue guidance to $161-$163 million, showcasing a 23% growth over last year.
Navan's Cognition AI has expanded gross margin to 74%, a transformative high for the company.
Customer satisfaction reached a high 97%, with NPS rising to 45, far above the industry average.
Navan is developing 'Navan Edge,' an AI-powered travel booking experience set to redefine the future of travel.
Navan is well-positioned with an integrated AI core for leading the future of travel and expense management.
Revenue
$195 million
+29% YoY
Non-GAAP Operating Margin
13%
+870 basis points YoY
Free Cash Flow
-$11 million
+30% compared to Q3 FY25
Gross Booking Volume
$2.8 billion
+40% YoY
Non-GAAP Gross Margin
74%
+200 basis points YoY
CAPEX
Not explicitly mentioned