By Kit Norton

Shares of Navan soared after the AI-powered corporate travel and expense-management company surpassed Wall Street expectations with its fiscal 2027 first-quarter earnings and raised fiscal-year guidance.

Navan stock surged 24% in after-hours trading after ending regular trading up 1% to $20.88 on Wednesday. The stock has revved about 148% higher since bottoming in late March. So far this year, Navan stock is up 22%.

Shares debuted on Oct. 30, 2025, closing at $20 a share. Navan had raised $923.1 million through the sale of 36.9 million shares at a price of $25 in its initial public offering, describing itself as the " Amazon for travel" in its roadshow for investors.

The company late Wednesday posted adjusted earnings of 9 cents a share for the quarter ended April 30, compared with a loss of 15 cents a share a year ago and above Wall Street's 1 cent a share expectation. Revenue rose 40% to $220.2 million, beating the analyst consensus call for $205.3 million, according to FactSet.

Navan also reported that subscription revenue came in at $18 million, representing a 26% increase from a year ago. Payment volume rose 29% to $1.3 billion, and gross booking volumes rose 50% to $3.1 billion.

"We are executing exceptionally well and leveraging our proprietary, AI-led platform to deliver an unmatched customer experience at scale, seamlessly orchestrating human and AI agents. We are not just building the best travel agency on the planet; we are working to define the future of travel," CEO Ariel Cohen said in the earnings release.

Looking ahead, the company raised its outlook for fiscal 2027, ending Jan. 31, 2027. Navan expects total revenue between $907 million and $913 million with income from operations of $76 million to $80 million. That compares with Navan's guidance from March for sales of $886 million to $874 million with income from operations ranging from $58 million to $62 million.

Wall Street expects revenue of $871.7 million and operating income of $60.6 million, according to FactSet.

The earnings report comes a day after the company unveiled "Navan Anywhere" program. Navan's AI travel agents are now live on the Google Cloud Marketplace and fully embedded within Gemini Enterprise. The program allows users to plan, book, and manage their travel with Navan directly through Gemini Enterprise.

Write to Kit Norton at kit.norton@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 10, 2026 16:33 ET (20:33 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.