The law firm of Kirby McInerney LLP is investigating potential claims against Navan, Inc. (“Navan” or the “Company”) (NASDAQ: NAVN). The investigation concerns whether the Company and/or members of its senior management may have violated federal securities laws or engaged in other unlawful business practices.

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What Happened?

On October 30, 2025, Navan conducted its initial public offering, selling approximately 36.9 million shares at $25.00 per share. On December 15, 2025, Navan released its third quarter fiscal 2026 financial results, revealing “GAAP loss from operations was ($79 million), compared to a loss from operations of ($19 million)” in the same period last year. The Company further revealed “GAAP operating margin was (41%), compared to (13%)” for the same period last year. The Company also announced that its CFO was stepping down, effective immediately, just six weeks after the IPO. The Company revealed in exchange that it would provide her with, among other benefits, “accelerated vesting of 100% of the unvested portion of outstanding restricted stock units and stock options” and a $3.7 million cash payment. On this news, the price of Navan shares declined by $1.74 per share, or approximately 11.9%, from $14.64 per share on December 15, 2025 to close at $12.90 on December 16, 2025.

What Should I Do?

If you purchased or otherwise acquired Navan securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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