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Navan, a corporate travel platform, filed for an IPO on Nasdaq, citing strong growth and improved profits.
Corporate travel and expense platform Navan, formerly TripActions, has filed for an IPO to list on Nasdaq under the symbol NAVN, reporting strong revenue growth and improved profitability.
The company, which serves over 10,000 customers including major brands like Unilever and Adobe, saw 33% year-over-year revenue growth to $537 million in fiscal 2025 and reduced its net loss by 45% to $181 million, with gross margins reaching 68%.
It plans to use IPO proceeds for debt repayment, product development, and general corporate needs.
The filing comes amid a broader rebound in the IPO market, driven by tech firms and strong travel demand, with underwriters including Goldman Sachs and Citigroup leading the offering.
Navan aims to expand its platform into broader corporate financial operations, leveraging AI through its virtual assistant Ava.
Navan, una plataforma corporativa de viajes, solicitó una OPI en Nasdaq, citando un fuerte crecimiento y mejores ganancias.