Navan guides FY27 revenue $907M-$913M, non-GAAP profit $76M-$80M

Navan said on its fiscal first-quarter conference call that it expects full-year revenue of $907 million to $913 million and non-GAAP operating profit of $76 million to $80 million. The corporate travel and payments company reported first-quarter bookings growth of 50%, which it attributed to gains in its unified travel and spend platform.

The company said AI-powered features in its expense management and booking tools are driving adoption. Corporate clients are using Navan's virtual card product to automate reconciliation and its AI assistant to enforce travel policies. Average revenue per customer rose during the quarter.

Margins improved. Navan posted a non-GAAP operating margin of 8% in the first quarter, up from 5% a year earlier. The company cited operating leverage from a larger customer base and higher transaction volumes. Cost controls in sales and marketing also contributed.

Navan raised its full-year revenue guidance by $15 million at the midpoint. It also increased its non-GAAP operating profit guidance by $5 million. The company now expects second-quarter revenue of $220 million to $224 million and non-GAAP operating profit of $18 million to $20 million.

The company's fiscal year ends in September.