🔴 Navan is trading 14.48% down in pre-market as operating expenses outpaced revenue growth

Navan is trading 14.48% down in pre-market at $22.03 after investors focused on rising operating costs despite a quarterly earnings beat and raised fiscal-year guidance.

• Operating expenses increased 46% to $200.2 million, outpacing 35% revenue growth, while the operating loss widened.
• Fiscal-year revenue guidance rose to $927–$933 million, but the negative earnings reaction indicates expectations were higher.