Navan raised its fiscal 2027 revenue and adjusted operating-income forecasts for a second time, citing business-travel demand. It now expects $927 million-$933 million in revenue and agreed to buy AI-powered event-management platform BoomPop for up to $95 million in cash and in?
In its second quarter, Navan’s gross booking volume rose 45% year over year to $3 billion and revenue climbed 35% to $232.8 million, above the $220.46 million analyst estimate. Operating expenses grew 46% to $200.2 million, widening its GAAP operating loss to $25.6 million; shares fell 17% in after-hours trading despite revenue and adjusted-profit beats and the raised guidance.
The BoomPop acquisition would add AI-powered event and meeting-management capabilities to Navan’s travel-and-expense platform. Navan expects the transaction to have minimal near-term financial impact.
