Navan reveals 30% revenue surge in US IPO filing as tech listings fire up

Company Overview - Navan reported a 30% revenue surge for the first half of fiscal 2026, indicating strong growth in the corporate travel management sector [1] - The company was founded in 2015 as TripActions, focusing initially on corporate travel management and later expanding into corporate payments and expense management [4] Financial Performance - For the six months ended July 31, Navan reported a net loss of $99.9 million on revenue of $329.4 million, compared to a loss of $92.5 million on revenue of $253.7 million in the same period a year earlier [5] - In 2022, Navan raised $300 million in a Series G funding round, achieving a valuation of $9.2 billion [3] Market Context - The IPO market is experiencing a recovery, particularly driven by tech IPOs, following a slowdown due to tariffs that halted new listings in April [2] - Major airline executives have expressed optimism about the travel industry's ability to increase fares later this year, indicating a rebound in travel demand [3] IPO Details - Navan plans to list its shares on the Nasdaq under the symbol "NAVN" with Goldman Sachs, Citigroup, Jefferies, Mizuho, and Morgan Stanley among the underwriters managing the offering [5]