Robbins Geller Investigating Navan, Inc. After Disappointing Earnings

Law firm encourages investors and potential witnesses to contact them regarding potential securities violations.

Published on Feb. 13, 2026

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The law firm of Robbins Geller Rudman & Dowd LLP has launched an investigation into Navan, Inc. (NASDAQ: NAVN) to determine whether the company and certain of its top executives made materially false and/or misleading statements to investors. Navan, an AI-powered travel and expense management software company, recently reported disappointing first quarter financial results as a public company, including a significant net loss and declining usage yield.

Why it matters

Navan's poor financial performance and executive departure following its October 2025 IPO have raised concerns among investors about potential securities violations. As a prominent law firm representing investors in securities fraud cases, Robbins Geller's investigation could uncover important information and lead to legal action against the company.

The details

In its first quarterly report as a public company, Navan revealed a GAAP net loss of $225 million, compared to a $42 million net loss the prior quarter. The company also disclosed that its usage yield declined from 7.5% to 6.9% year-over-year. Additionally, Navan announced the departure of its Chief Financial Officer, Amy Butte. Following this news, Navan's stock price fell nearly 12% to $12.90 per share, well below its $25 IPO price.

  • Navan conducted its initial public offering in October 2025, raising $750 million.
  • On December 15, 2025, Navan reported its first quarterly financial results as a public company.
  • On the trading day following the earnings report, Navan's stock price fell nearly 12% to $12.90 per share.

The players

Navan, Inc.

An AI-powered travel and expense management software company that conducted its IPO in October 2025.

Robbins Geller Rudman & Dowd LLP

A law firm investigating potential securities violations by Navan and its executives.

Amy Butte

The former Chief Financial Officer of Navan who departed the company following the disappointing earnings report.

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What they’re saying

“If you have information that could assist in the Navan investigation or if you are a Navan investor who suffered a loss and would like to learn more, you can provide your information here:”

— J.C. Sanchez, Attorney, Robbins Geller (BusinessWire)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Navan to release additional financial information to the public.

The takeaway

Navan's poor financial performance and executive departure following its IPO have raised concerns about potential securities violations, prompting an investigation by the prominent law firm Robbins Geller. The outcome of this investigation could have significant implications for Navan and its investors.