Navan (NAVN -9.22%) completed its long-awaited initial public offering (IPO) at the end of October 2025. The corporate travel and expense management platform vendor went public at $25 a share, giving it a more than $6 billion valuation. However, it has received a tepid response from the market, falling 20% on the day of its IPO and almost 50% overall by mid-December.
The company built an all-in-one travel, corporate card, and expense management solution that helps companies increase productivity and cut costs. The platform empowers clients to easily book, view, and manage business travel, as well as expenses. Navan's platform combines the power of artificial intelligence (AI) and data science with a modern, user-friendly design.
Navan's growth has been driven in part by a string of acquisitions that have transformed it into a leading technology-first corporate travel platform. Thousands of companies trust Navan for their corporate travel and expense management needs.
Navan still has a long growth runway ahead of it. That has many investors eager to book their purchase of its stock. Here's everything you need to know about investing in Navan.
How to buy Navan stock
Now that it's a publicly traded company, anyone can invest in Navan stock. Here's a step-by-step guide on how to buy shares.
- Open your brokerage account: Log in to your brokerage account, where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
- Search for Navan: Enter the ticker "NAVN" into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Is Navan profitable?
Navan reported its fiscal 2026 third-quarter financial results in mid-December 2025, its first as a public company. The leading all-in-one business travel, payments, and expense management platform recorded $195 million of revenue in the period, a 29% year-over-year increase. While Navan reported a generally accepted accounting principles (GAAP) net loss of $225 million in the quarter (compared to a net loss of $42 million in the year-ago period), its non-GAAP (adjusted) net income was $9 million (compared to a non-GAAP net loss of $14 million last year).
For fiscal 2026, Navan expects to report $685 million-$687 million of revenue and $21 million to $22 million of non-GAAP income from operations.
Does Navan pay a dividend?
Navan has yet to initiate a dividend.
Should you invest in Navan?
Investing in individual stocks can be a deeply personal decision. Here are a few reasons you might decide to invest in Navan:
- You use Navan's corporate travel and expense solutions and like the value it provides users.
- You want to invest in IPO stocks with strong growth potential.
- You believe Navan will become a consistently profitable company.
- You believe corporate travel will continue to grow, driving the need for solutions like Navan.
- You understand the risks of investing in an IPO stock, including that they can be very volatile.
On the other hand, here are some reasons you might decide not to invest in Navan:
- You're unsure what Navan does or how it makes money.
- You use a rival solution and don't see the value in Navan's platform.
- You're concerned about corporate travel's growth potential due to lower-cost alternative solutions like Zoom (ZM -0.49%).
- You're at or nearing retirement and can't afford the risk of a potentially volatile IPO stock.
- You're concerned about whether Navan can be consistently profitable.
NASDAQ: NAVN
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How to invest in Navan through ETFs
Picking a portfolio of stocks you must actively manage isn't for everyone. That's why many prefer passive investing approaches like exchange-traded funds (ETFs). They make it easy to passively invest in a company through a fund focused on a specific theme or a broad market index.
Since Navan is a more recent IPO stock, it has yet to make its way into too many ETFs. However, you can invest in ETFs focused on a theme similar to Navan's. Here are a few thematic ETFs to consider buying to gain passive exposure to the trends driving Navan's growth:
- Amplify Travel Tech ETF (NYSEMKT:AWAY): This travel ETF focuses on travel technology businesses. The fund had 30 holdings in late 2025, led by Expedia (6.2% of its net assets), and a 0.75% ETF expense ratio.
- Global X FinTech ETF (NYSEMKT:FINX): This fund focuses on emerging financial technology (fintech) companies. It had almost 65 holdings in late 2025. This ETF's expense ratio is 0.68%.
- Renaissance IPO ETF (IPO -1.09%): This ETF focuses on recent IPOs. It holds the most liquid, newly listed U.S. IPOs, rebalancing every quarter with the latest offerings it will hold for three years. It had more than 30 holdings in late 2025, including many technology stocks (43% of the fund's holdings). While Navan wasn't yet one of its holdings, it's a likely future holding of this fund. The fund offers broad exposure to recent IPOs for a 0.6% ETF expense ratio.
Will Navan stock split?
Navan is unlikely to split its stock anytime soon. It just went public in late 2025, and shares had already lost almost 50% of their value.
The bottom line
Navan's purpose-built, easy-to-use technology platform for travel and corporate expenses is winning over clients by saving them time and money. While thousands of companies already trust Navan, it has a long growth runway ahead.
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