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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY272026-07-31 | Q1 FY272026-04-30 | Q4 FY262026-01-31 | Q3 FY262025-10-31 |
|---|---|---|---|---|
| Revenue | $232.79M | $220.23M | $177.92M | $194.93M |
| Cost of revenue | $60.32M | $57.18M | $52.13M | $57.08M |
| Gross profit | $172.47M | $163.06M | $125.79M | $137.85M |
| Gross margin | 74.1% | 74.0% | 70.7% | 70.7% |
| Research and development | $47.21M | $39.40M | $35.28M | $51.20M |
| Selling, general and administrative | $153.00M | $141.77M | $180.00M | $165.90M |
| Operating expenses | $198.04M | $181.16M | $215.28M | $217.09M |
| Operating income | −$25.57M | −$18.11M | −$89.49M | −$79.24M |
| Operating margin | -11.0% | -8.2% | -50.3% | -40.6% |
| EBITDA | −$19.67M | −$12.39M | −$41.07M | −$79.24M |
| Interest expense | −$2.91M | −$2.82M | −$3.79M | −$15.54M |
| Income before taxes | −$26.28M | −$19.70M | −$82.16M | −$221.92M |
| Income taxes | $2.83M | $802.00K | −$9.40M | $3.47M |
| Net income | −$29.12M | −$20.51M | −$72.76M | −$225.39M |
| Net margin | -12.5% | -9.3% | -40.9% | -115.6% |
| EPS, basic | −$0.11 | −$0.08 | −$0.29 | −$4.58 |
| EPS, diluted | −$0.11 | −$0.08 | −$0.29 | −$4.58 |
| Diluted shares | 256.37M | 250.28M | 249.23M | 49.26M |
Figures describe Navan shares, not any token. As of Sep 10, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.