Navan Guides Q3 Revenue Growth to Slow to 30% Despite Raised Full-Year Outlook
NAVN has more than doubled off its 52-week low of $8.105.
Summary
Navan's Q2 revenue rose 35% to $233M, but Q3 guidance of $253-$255M implies growth decelerating to 30%. The company raised its full-year revenue outlook to $927-$933M and adjusted operating income to $82-$86M. This follows the earlier Reuters report on the raised outlook, but the Q3 deceleration detail is new. The stock may react to the growth slowdown even as full-year numbers improve.
At the time of this announcement, NAVN was trading at $23.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $6.6B. The 52-week trading range was $8.11 to $30.88. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.