Travel management company Navan has filed a registration statement with the US Securities and Exchange Commission for its planned initial public offering (IPO), making details of the company's business available to potential investors.

The US-based company is making the proposed offering available via a prospectus through lead book-running managers Goldman Sachs and Citigroup.

Navan has applied to be listed under the symbol NAVN on the Nasdaq Global Select Market, but it has not yet determined the price range or the number of shares to be offered under the proposed offering.

The TMC's IPO has been a long-anticipated move, with a registration statement?previously filed in June?that kept its financial details private. Navan last year hired?Amy Butte as CFO,?who has had experience of taking multiple companies public.

Navan also published its latest financial results as part of the filing, which showed that its gross booking volume rose by 32 per cent year-on-year to $6.6 billion in its financial year ending on 31 January 2025 ¨C up from sales of $5 billion during the previous year. ?

Payment volume through cards issued by Navan was up by 35 per cent to $3.7 billion over the same period.

Despite the TMC¡¯s revenue increasing from $402 million in its 2024 fiscal year to $537 million this year, Navan still recorded a net loss of $181 million for the year ending on 31 January. Although this was an improvement on a net loss of $331 million last year.

For the six months up to 31 July 2025, Navan¡¯s booking volume increased by 34 per cent year-on-year to $4.1 billion, while payments volume was up by 10 per cent to $2 billion over this period.

The TMC added that it had more than 10,000 ¡°active¡± customers at the end of January.

Navan, which was previously known as TripActions until changing its name in 2023, has been looking to go public for several years. Navan was ranked as the fifth largest European TMC in the list of Europe¡¯s Leading TMCs 2025.

In its filing, Navan added: ¡°We typically land our customers with our travel offering. We then help customers integrate additional offerings across our platform such as corporate payments, expense management and VIP, based on the customer¡¯s evolving needs, especially as the customer continues to grow and scale their own business and employee base.¡±