Filing Flows › Navan (NAVN) › Q3 FY26
Navan (NAVN) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Dec 15, 2025
Navan (NAVN) reported revenue of $195M for the third quarter fiscal 2026 (Q3 FY26), +29% from a year earlier and +13% from the quarter before. Operating margin was -40.6%, net loss $225M (115.6% of revenue).
Navan, Q3 FY26: revenue $195M (+29% year over year), operating margin -40.6%, net loss $225M, operating cash flow −$6.1M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $195M | +13% | +29% |
| Operating profit | −$79.2M | — | — |
| Net earnings | −$225M | — | — |
| Operating cash flow | −$6.1M | — | — |
What changed
Revenue was $194.9M in Q3 FY26, up 29% year over year and up 13% from the previous quarter. Usage-Based Revenue was the largest line at 92% of revenue. Usage-Based Revenue added $40.7M year over year (up 29%), 93% of the total change.
Gross margin was 70.7%, up 0.2 points from a year earlier. Operating costs exceeded revenue by $79.2M, an operating margin of -40.6%. Operating expenses grew 72% against revenue growth of 29%. The fastest-growing cost line was General & admin (+103%). The quarter ended with a net loss of $225.4M, wider than the previous quarter's $38.6M loss. Net interest and other expense of $142.7M was the main reason.
Operating cash flow was −$6.1M. Non-cash charges added back $5.9M of depreciation and amortization and $99.2M of share-based compensation. Working capital and other items added $114.2M. Capital expenditures of $401K exceeded it, leaving free cash flow of −$6.5M.
Questions
What was Navan's revenue in the third quarter fiscal 2026?
Navan (NAVN) reported revenue of $195M for the third quarter fiscal 2026 (Q3 FY26), +29% from a year earlier and +13% from the quarter before.
Was Navan profitable in the third quarter fiscal 2026?
Operating loss was $79.2M (-40.6% of revenue) and net loss $225M.
Source: Navan 10-Q on SEC EDGAR.