Navan Accelerates Global Expansion with Record-Breaking Quarter
Navan, a leading provider of end-to-end AI-powered business travel and expense solutions, has reported a record-breaking quarter in its second fiscal 2027 earnings conference call. The company's CEO and Co-founder, Ariel Cohen, highlighted the significant growth and momentum achieved by Navan across various use cases and geographies.
According to Cohen, total gross bookings volume (GBV) on the platform grew by 45% year-over-year to more than $3 billion in Q2 2027. This impressive growth exceeded Navan's expectations for both revenue and non-GAAP operating income, prompting the company to raise its full-year FY 2025 outlook again.
The company's customer satisfaction remains high, with a CSAT of 96 and NPS of 44. Navan's platform is gaining usage across every use case and geography, underscoring the company's ability to execute across multiple fronts while gaining momentum.
Navan's sales and new customers are also on an upward trajectory. The company saw strong sales execution across its sales-led growth (SLG) and product-led growth (PLG) segments. SLG delivered another strong quarter, with new signed GBV reaching $4 billion in the last 12 months – a 60% increase compared to Q2 last year. Product-led growth revenue more than doubled year-over-year, adding to Navan's growing sales pipeline.
Payment volumes reached $1.3 billion and grew 34%, while subscription revenue was $21 million, with a growth of 39%. Cohen emphasized that Navan's growth is not isolated to one area of the company but rather a result of its entire system working together – including sales, product, deployments, operations, customer success, and global travel and fintech infrastructure.
The number of requests for proposal (RFPs) received by Navan has tripled in the first half of 2027 compared to the same period last year. The company now serves 50 companies in the S&P 500 – up from 45 last quarter. These developments demonstrate Navan's growing success in winning larger and more complex enterprise customers across the globe.
Cohen stressed that Navan's investment in sales and marketing is becoming increasingly efficient with the help of AI, highlighting the company's commitment to leveraging technology to drive growth in its massive market.
The foundation laid by Navan over the last 11 years has enabled the company to build a scalable solution supporting big enterprises globally. This real-time infrastructure includes supplier relationships, negotiated rates, banking partnerships, local entities and licenses, compliance with local law and taxes, payments infrastructure, and operational expertise in markets worldwide.
