Navan raises fiscal 2027 forecast on strong corporate travel demand, customer growth

Corporate travel and expense platform Navan has raised its fiscal 2027 revenue and operating income forecasts, buoyed by robust demand for business travel and a surge in new customers. Corporate travel remains resilient amidst geopolitical uncertainty, with investment in artificial intelligence spurring increased travel among sales teams, engineers, and executives.

The company added new customers and navigated a fuller calendar of industrial conferences and heightened cross-border dealmaking, all contributing to higher booking volumes. Navan's gross booking volume expanded by 45% in the second quarter, while payment volume grew by 34%. CFO Aurélien Nolf emphasized the strong demand, noting that travelers are undertaking more trips year over year, with each trip generating higher bookings.

Navan now anticipates revenue between $927 million and $933 million for the fiscal year ending January 31, 2027, up from its previous forecast of $907 million to $913 million. Adjusted operating income is now forecasted to range from $82 million to $86 million, compared to earlier expectations of $76 million to $80 million. Additionally, Navan announced the acquisition of AI-powered event-management platform BoomPop for an undisclosed amount, valued at up to $95 million in cash and stock.

The deal is expected to bolster Navan's capabilities in the corporate travel and expense management space.