Corporate travel and expense management company Navan Inc., formerly known as TripActions, has launched its initial public offering (IPO) roadshow, signaling one of the most anticipated tech listings of the year.
The Palo Alto–based firm plans to sell 36.9 million shares at a price range of $24 to $26 each, according to a company filing.(1) At the high end of that range, Navan’s valuation would reach approximately $6.5 billion — about $3 billion below its last private valuation in 2022.(2)
Navan intends to list on the Nasdaq under the ticker symbol NAVN.
Founded in 2015, the company offers an integrated platform for managing corporate travel, expenses and payments — a space that has gained renewed momentum as business travel continues to recover post-pandemic. In the July quarter, Navan reported $172 million in revenue, a 29% increase year-over-year, but also posted a net loss of $38.6 million.
The company’s main competitors include Expensify, Oracle and SAP, all of which offer enterprise-level expense and travel management solutions.
Navan’s growth and innovation have earned it recognition on CNBC’s 2025 Disruptor 50 list, where it ranked 39th, marking its second consecutive year on the list.
Retail investors will have a chance to participate in the IPO through Robinhood, which is offering access to Navan’s shares at the IPO price before they hit the open market. Interested investors can apply through the IPO section of the Robinhood app.
For more information, check out Finder’s guide on Navan Inc. stock. Stay updated with the latest market stories by subscribing to Market Briefing.
IPO access to Navan Inc. is NOW AVAILABLE on Robinhood! #robinhood #stocks #ipo
Related stocks: How the industry’s leaders have done over the past year
Curious how related stocks have performed in the Software – Application industry? Here are the top three by market cap:
- SAP (SAP SE). ~$325B market cap; +19.23% 1-year total return.
- Salesforce (CRM). ~$248B market cap; -9.35% 1-year total return.
- Shopify (SHOP). ~$210B market cap; +98.98% 1-year total return.
Source: Stock Analysis for related stocks. Google Finance for 12-month performance, accurate as of October 7, 2025.
