v3.26.1
SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION
 6 Months Ended
Jul. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION
NOTE 4 - SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION
Property, Equipment and Software, Net
Property, equipment and software, net consisted of the following (in thousands):
As of
July 31, 2026January 31, 2026
Capitalized software$55,102 $46,126 
Computers and equipment6,822 6,868 
Fixtures and fittings897 2,976 
Leasehold improvements2,562 2,691 
Construction in progress(1)
3,609 6,798 
Property, equipment and software, gross68,992 65,459 
Less: accumulated depreciation(30,930)(30,431)
Property, equipment and software, net$38,062 $35,028 
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(1)Construction in progress consists of leasehold improvements and capitalized software development costs that have not been placed into service.
Depreciation and amortization expense was $5.3 million and $10.3 million for the three and six months ended July 31, 2026, respectively. Included in these amounts were the amortization of capitalized internal-use software costs of $4.6 million and $8.9 million for the three and six months ended July 31, 2026, respectively.
Depreciation and amortization expense was $5.0 million and $9.6 million for the three and six months ended July 31, 2025, respectively. Included in these amounts were the amortization of capitalized internal-use software costs of $3.8 million and $7.4 million for the three and six months ended July 31, 2025, respectively.
No impairment losses of long-lived assets, including property, equipment and software, and operating lease right-of-use (“ROU”) assets, were recognized during the six months ended July 31, 2026 and 2025.
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
July 31, 2026January 31, 2026
United States$60,349 $59,470 
United Kingdom7,539 9,151 
All other countries(1)
9,532 9,837 
Total long-lived assets, net$77,420 $78,458 
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(1)No individual country within All other countries comprises more than 10% of Total long-lived assets, net.

Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
As of
July 31, 2026January 31, 2026
Accrued payroll-related expenses, taxes, and benefits$59,532 $45,450 
Accrued expenses36,130 25,842 
Amounts due to travel suppliers(1)
51,288 77,290 
Reward liability(2)
14,118 12,337 
Customer deposits and collateral32,587 26,357 
Indirect tax payable5,314 6,404 
Accrued interest774 781 
Other4,465 2,792 
Total accrued expenses and other current liabilities$204,208 $197,253 
________________
(1)This balance represents the timing difference of when the Company charges customers for certain travel booking transactions, and when the balance is remitted to travel suppliers or needs to be refunded.
(2)This balance represents both (i) Navan-funded rewards, which includes the value of earned rewards we expect to be redeemed by users prior to expiration, and (ii) customer funded rewards, which are payments made by our platform customers to fund future redemptions by their employees.
Other Income, Net
The components of other income, net were as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Foreign currency exchange gains (losses), net$(2,508)$(299)$(6,315)$7,622 
Interest income4,946 1,092 9,575 2,203 
SAFE issuance costs expensed— — — (2,913)
Other, net(247)$(213)158 (213)
Total other income, net$2,191 $580 $3,418 $6,699