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Navan vs Braze: NAVN and BRZE compared
Navan is the larger company: $233M of revenue in its latest quarter (Q2 FY27) against $227M for Braze (Q2 FY27). Navan is growing faster (+35% against +26% a year earlier). Braze is more profitable, with an operating margin of -8.0% against -11.0%.
Where the money goes: NAVN and BRZE
Navan (NAVN) · Q2 FY27
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.
Braze (BRZE) · Q2 FY27
Braze, Q2 FY27: revenue $227M (+26% year over year), operating margin -8.0%, net loss $18.3M, operating cash flow $24.2M. The chart follows the revenue to costs, profit and cash.
| Navan (NAVN) | Braze (BRZE) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q2 FY27 |
| Revenue | $233M | $227M |
| Revenue growth, Y/Y | +35% | +26% |
| Operating margin | -11.0% | -8.0% |
| Net earnings | −$29.1M | −$18.3M |
| Net margin | -12.5% | -8.1% |
| Operating cash flow | $25.2M | $24.2M |
| Free cash flow | $21.5M | $21.7M |
| Market value | — | $3.1B |
| Analysts’ mean target | — | $47.54 |
Where the revenue comes from
Navan
- Usage-based revenue: $211M (91%)
- Subscription revenue: $21.4M (9%)
Braze
- Subscription: $208M (91%)
- Professional services and other: $19.6M (9%)
Questions
Which is bigger, Navan or Braze?
Navan is the larger company: $233M of revenue in its latest quarter (Q2 FY27) against $227M for Braze (Q2 FY27).
Is Navan or Braze growing faster?
Navan is growing faster (+35% against +26% a year earlier).
Which is more profitable, Navan or Braze?
Braze is more profitable, with an operating margin of -8.0% against -11.0%.
More: Navan earnings · how Navan makes money · Braze earnings · how Braze makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 10, 2026; 10-Q filed Sep 9, 2026). Fiscal quarters can end on different dates. Not investment advice.