v3.26.1
SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION
 12 Months Ended
Jan. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Statement Information SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION
Property, Equipment and Software, Net
Property, equipment and software, net consisted of the following (in thousands):
As of January 31,
20262025
Capitalized software$46,126 $42,317 
Computers and equipment6,868 7,349 
Fixtures and fittings2,976 3,561 
Leasehold improvements2,691 2,779 
Construction in progress(1)
6,798 2,960 
Property, equipment and software, gross65,459 58,966 
Less: accumulated depreciation(30,431)(29,428)
Property, equipment and software, net$35,028 $29,538 
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(1)Construction in progress consists of leasehold improvements and capitalized software development costs that have not been placed into service.
For the years ended January 31, 2026, 2025, and 2024, depreciation and amortization expense related to property, equipment and software was $18.9 million, $19.7 million, and $20.5 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $14.9 million, $14.9 million and $13.8 million, for the years ended January 31, 2026, 2025 and 2024.
No impairment losses of long-lived assets, including property, equipment and software, and operating lease right-of-use (“ROU”) assets, were recognized during the years ended January 31, 2026, 2025, and 2024.
Long-Lived Assets, Net
The following table presents long-lived assets, which includes property, equipment and software, net of depreciation and amortization, and operating lease ROU assets, by geographic region (in thousands):
 As of January 31,
20262025
United States$59,470 $59,181 
United Kingdom9,151 10,633 
All other countries(1)
9,837 7,730 
Total long-lived assets, net$78,458 $77,544 
________________
(1)No individual country within All other countries comprises more than 10% of Total long-lived assets, net.

Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
As of January 31,
20262025
Prepaid expenses$20,879 $16,965 
Payment processor advances(1)
13,231 6,801 
Tax receivable4,267 3,196 
Other current assets16,864 8,666 
Total prepaid expenses and other current assets$55,241 $35,628 
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(1)Payment processor advances represent amounts prefunded to and held by payment processors in order to fund future customer spend.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
As of January 31,
20262025
Accrued compensation and employee benefits$41,636 $28,970 
Employee contributions under employee stock purchase plan2,515 — 
Accrued expenses34,963 27,354 
Amounts due to travel supply partners(1)
69,137 41,665 
Reward liability(2)
12,337 11,408 
Customer deposits and collateral26,357 14,319 
Corporate tax payable990 4,640 
Indirect tax payable6,404 3,489 
Early exercise liability104 976 
Accrued interest781 2,642 
Other2,029 1,335 
Total accrued expenses and other current liabilities$197,253 $136,798 
________________
(1)This balance represents the timing difference of when the Company charges customers for certain travel booking transactions, and when the balance is remitted to travel supply partners or needs to be refunded.
(2)This balance represents both (i) Navan-funded rewards, which includes the value of earned rewards we expect to be redeemed by users prior to expiration, and (ii) customer funded rewards, which are payments made by our platform customers to fund future redemptions by their employees.

Other Non-Current Liabilities
Other non-current liabilities consisted of the following (in thousands):
As of January 31,
20262025
Loss contingency reserves(1)
$8,934 $8,120 
Deferred tax liability1,007 7,655 
Taxes payable for unrecognized tax benefits2,866 2,288 
Redeemable convertible preferred stock warrant liability— 427 
NOW Scheme contingency payable(2)
4,338 3,806 
Other non-current liabilities821 653 
Total other non-current liabilities$17,966 $22,949 
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(1)Loss contingency reserves consist of accruals related primarily to employment taxes.
(2)Refer to Note 13 — Commitments and Contingencies for further information on the NOW Scheme.
Other Income (Expense), Net
The components of other income (expense), net were as follows (in thousands):
Year Ended January 31,
202620252024
Foreign currency exchange gains (losses), net$11,642 $(4,697)$(789)
Interest income9,237 5,618 4,519 
SAFE issuance costs expensed(2,913)— — 
Other, net
(693)(994)6,363 
Total other income (expense), net$17,273 $(73)$10,093