Navan Inc. (Navan (NAVN)) reported its fiscal first-quarter results after Wednesday's closing bell, and the numbers were strong enough to send shares soaring in extended trading.
The travel and expense management company posted quarterly earnings of eight cents per share, crushing the consensus estimate that called for a loss of one cent. Revenue hit $220.23 million, beating the Street's $205.27 million forecast and climbing from $157.46 million in the same quarter last year.
Here's a closer look at the key metrics from the quarter:
- Usage revenue: $202 million, up 41% year-over-year
- Subscription revenue: $18 million, up 26% year-over-year
- Gross Booking Volume: $3.1 billion, up 50% year-over-year
- Payment Volume: $1.3 billion, up 29% year-over-year
“Navan kicked off fiscal 2027 with an outstanding first quarter, driven by accelerating growth across the business and a 50% year-over-year increase in Gross Booking Volume,” said CEO Ariel Cohen.
Looking ahead, Navan raised its fiscal 2027 revenue outlook to a range of $907 million to $913 million, well above the $884.47 million analyst estimate. That optimism was rewarded by investors, with Navan stock climbing 17.87% to $24.60 in Wednesday's extended trading.
