Law Offices of Howard G. Smith reminds investors of the upcoming April 24, 2026 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Navan, Inc. (“Navan” or the “Company”) (NASDAQ: NAVN) common stock pursuant and/or traceable to the Registration Statement issued in connection with the Company’s October 31, 2025 initial public offering (the “IPO” or the “Offering”).

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN NAVAN, INC. (NAVN), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.

What Happened?

On or about October 31, 2025, Navan conducted its IPO, 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 that it increased its sales and marketing expenses to nearly $95 million, a 39% increase from its $68.5 million sales and marketing expenses in the previous quarter.

The Company also announced that its CFO was stepping down, effective immediately, just six weeks after the IPO.

On this news, Navan’s stock price fell $1.74, or 11.9%, to close at $12.90 per share on December 16, 2025, thereby injuring investors.

As of the filing of this case, the Company’s stock has continued to fall, trading as low as $9.20 per share, over 63% below its $25 IPO price.

What Is The Lawsuit About?

The complaint filed in this class action alleges that the Registration Statement made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) at the time of the IPO, the Company had increased its “sales and marketing” expenses by 39% for the quarter ending October 31, 2025 ($95 million) to sustain its revenue, Gross Booking Volume, and usage yield growth; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Navan common stock pursuant and/or traceable to the IPO, you may move the Court no later than April 24, 2026 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements.

Contact Us To Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260226056677/en/