Johnson Fistel, PLLP is investigating potential claims on behalf of investors of Navan, Inc. (NASDAQ: NAVN). The investigation focuses on Navan’s executive officers and whether investor losses may be recovered under federal securities laws.

What if I purchased Navan securities?

If you purchased Navan securities and suffered losses on your investment, join our investigation now: Click Here to Join the Investigation.

Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.

There is no cost or obligation to you.

Background of the investigation

On October 30, 2025, Navan conducted its initial public offering, selling approximately 36.9 million shares at $25.00 per share. On February 18, 2026, Navan’s stock closed at $10.10 per share.

On December 15, 2025, Navan released its third quarter fiscal 2026 financial results, reporting that “GAAP loss from operations was ($79 million), compared to a loss from operations of ($19 million)” in the same period last year. The Company further reported that “GAAP operating margin was (41%), compared to (13%)” in the prior-year period, reflecting a significant year-over-year deterioration in GAAP operating performance and profitability metrics.

Also on December 15, 2025, the Company announced that its Chief Financial Officer would be stepping down approximately six weeks after the IPO. The timing of this leadership change, in close proximity to the Company’s initial public offering and concurrent with the release of materially weaker operating results, highlights a near-term transition in Navan’s senior financial management following its public debut.

In light of this disclosure, Johnson Fistel is investigating whether Navan complied with the federal securities laws. If you suffered losses from your investment in Navan stock, contact Johnson Fistel.

About Johnson Fistel, PLLP | Securities Fraud & Investor Rights

Johnson Fistel, PLLP is a nationally recognized shareholder-rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits and also assists foreign investors who purchased shares on U.S. exchanges. To learn more, visit www.johnsonfistel.com.

Achievements

In 2024, Johnson Fistel was ranked among the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. This recognition reflects the firm’s effectiveness in advocating for investors, having recovered approximately $90,725,000 for aggrieved clients in cases where it served as lead or co-lead counsel. This marks the eighth time the firm has been recognized as a top plaintiffs’ securities law firm in the United States, based on the total dollar value of final recoveries.

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Johnson Fistel, PLLP is investigating potential claims on behalf of investors of Navan, Inc. (NASDAQ: NAVN). The investigation focuses on Navan’s executive officers and whether investor losses may be recovered under federal securities laws.