Filing Flows

Filing Flows › Companies › Navan › Cash flow

Navan cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$24.3M in Q2 FY27 · $45.5M over twelve months

Operating cash flow$25.2M
Capital spending−$923K
Free cash flow+$24.3M
Cash conversion cycle-5 days

Analysis

In Q2 FY27, Navan generated $25.2M of operating cash flow and spent $923K on capital projects, leaving free cash flow of $24.3M. That is $24.1M more than in Q2 FY26 ($135K).

Over the twelve months to Jul 31, 2026, operating cash flow was $47.3M; the largest uses were other investing ($214M), net borrowing (+) / repaid (−) ($191M), taxes on employees’ shares ($18.1M); besides operations, cash came from other financing ($715M), shares issued ($95.4M); the cash balance rose by $433M.

Operating cash flow was $25.2M against net income of −$29.1M. The largest differences: stock-based pay +$41.9M, receivables +$10.2M, accrued liabilities +$6.1M.

Its cash conversion cycle was -5 days (receivables 87 + inventory 0 − payables 91): suppliers fund its working capital.

Free cash flow

Navan: free cash flow by quarterNavan: free cash flow by quarter−$9.2MQ4 FY25$4.5MQ1 FY26$135KQ2 FY26−$6.5MQ3 FY26$34.7MQ4 FY26−$6.9MQ1 FY27$24.3MQ2 FY27
Operating cash flow less capital spending.
Navan: operating cash flow against capital spendingNavan: operating cash flow against capital spendingOperating cash flowCapital spending−$8.9M$220KQ4 FY25$4.6M$90KQ1 FY26$233K$98KQ2 FY26−$6.1M$401KQ3 FY26$35.0M$328KQ4 FY26−$6.8M$105KQ1 FY27$25.2M$923KQ2 FY27
Latest (Q2 FY27): Operating cash flow $25.2M, Capital spending $923K.

Capital allocation, year by year

Navan: where the cash came from (up) and went (down), by fiscal yearNavan: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY24: Operating cash flow −$166MFY24: Net borrowing $206MFY24: Shares issued $9.1MFY24: Capital spending −$561KFY24: Acquisitions −$7.0M$215MFY24FY25: Operating cash flow −$50.4MFY25: Net borrowing $50.4MFY25: Shares issued $4.5MFY25: Capital spending −$994KFY25: Acquisitions −$3.9M$55.0MFY25FY26: Operating cash flow $33.7MFY26: Net borrowing −$334MFY26: Shares issued $737MFY26: Capital spending −$917K$771MFY26
Over these 3 years operating cash flow totalled −$183M; the largest uses were net borrowing ($334M) and operating cash flow ($217M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$820M
Debt$124M
Net cash$696M

Navan funds itself: free cash flow was $45.5M over the last twelve months, and $820M of cash and investments stands against $124M of debt.

Where the cash came from and went

Navan: sources (+) and uses (−) of cash, Q2 FY27Navan: sources (+) and uses (−) of cash, Q2 FY27Cash drawn (+) / kept (−)−$103MShares issued$63.0MOperating cash flow$25.2MOther financing$10.7MOther investing$5.6MCapital spending−$923KExchange rates−$576KNet borrowing (+) / repaid (−)$543K
Navan: sources (+) and uses (−) of cash, TTM to Q2 FY27Navan: sources (+) and uses (−) of cash, TTM to Q2 FY27Other financing$715MCash drawn (+) / kept (−)−$433MOther investing−$214MNet borrowing (+) / repaid (−)−$191MShares issued$95.4MOperating cash flow$47.3MTaxes on employees’ shares−$18.1MCapital spending−$1.8MExchange rates$171K

From profit to cash

Navan: net income to operating cash flow, Q2 FY27Navan: net income to operating cash flow, Q2 FY27Net income−$29.1MDepreciation & amortization$5.9MStock-based pay$41.9MDeferred taxes$485KGains on disposals−$2.2MOther non-cash−$746KReceivables$10.2MPayables−$4.1MAccrued liabilities$6.1MDeferred revenue$4.8MPrepaid and other assets−$3.1MOperating cash flow$25.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2787—91-5
Q1 FY2789—100-11
Q4 FY26113—113-0

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$25.2M−$923K$543K$63.0M−$103M$24.3M
Q1 FY27−$6.8M−$105K−$293K$14.7M$23.1M−$6.9M
Q4 FY26$35.0M−$328K−$81.8M$211K$227M$34.7M
Q3 FY26−$6.1M−$401K−$109M$17.5M−$580M−$6.5M
Q2 FY26$233K−$98K−$59.2M$4.6M$63.6M$135K
Q1 FY26$4.6M−$90K−$83.6M$1.6M−$68.5M$4.5M
Q4 FY25−$8.9M−$220K−$26.0M$1.5M−$4.7M−$9.2M

Navan: income statement and cash flow

Navan, Q2 FY27: revenue $233M (+35% year over year), operating margin -11.0%. The chart follows the revenue to costs, profit and cash.

Navan: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.