Filing Flows › Navan (NAVN) › Q2 FY27
Navan (NAVN) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 10, 2026
Navan (NAVN) reported revenue of $233M for the second quarter fiscal 2027 (Q2 FY27), +35% from a year earlier and +6% from the quarter before. Operating margin was -11.0%, net loss $29.1M (12.5% of revenue).
Navan, Q2 FY27: revenue $233M (+35% year over year), operating margin -11.0%, net loss $29.1M, operating cash flow $25.2M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $233M | +6% | +35% |
| Operating profit | −$25.6M | — | — |
| Net earnings | −$29.1M | — | — |
| Operating cash flow | $25.2M | — | 108× |
| Free cash flow | $21.5M | — | — |
What changed
Revenue was $232.8M in Q2 FY27, up 35% year over year and up 6% from the previous quarter. Usage-based revenue was the largest line at 91% of revenue. Usage-based revenue added $54.8M year over year (up 35%), 90% of the total change.
Gross margin was 74.1%, up 1.4 points from a year earlier. Operating costs exceeded revenue by $25.6M, an operating margin of -11.0%. Operating expenses grew 44% against revenue growth of 35%. The quarter ended with a net loss of $29.1M, wider than the previous quarter's $20.5M loss.
Operating cash flow was $25.2M (up 10709% year over year). Non-cash charges added back $5.9M of depreciation and amortization and $41.9M of share-based compensation. Working capital and other items added $6.5M. After capitalized software development costs, net ($3.7M), free cash flow as the company reports it was $21.5M.
Questions
What was Navan's revenue in the second quarter fiscal 2027?
Navan (NAVN) reported revenue of $233M for the second quarter fiscal 2027 (Q2 FY27), +35% from a year earlier and +6% from the quarter before.
Was Navan profitable in the second quarter fiscal 2027?
Operating loss was $25.6M (-11.0% of revenue) and net loss $29.1M.
Source: Navan 10-Q on SEC EDGAR.