Navan reported its first full year of positive operating cash flow, generating $34 million in cash from operating activities and $15 million in free cash flow, reaching this milestone a year ahead of plan. In Q4 2026, Navan generated $14.8 million in free cash flow, a major improvement from negative $66.7 million in Q4 2025. The fiscal 2026 operating cash flow improved to $33.7 million from a $50.4 million outflow a year earlier, and free cash flow reached $14.8 million, marking a turnaround from negative cash flow. Navan's Q4 revenue increased to $178 million from about $132 million a year earlier, representing a 35% year-over-year growth. The company reported Q3 revenue of $194.9 million, exceeding the FactSet consensus estimate of $182.0 million, indicating stronger-than-expected top-line performance. Navan's adjusted operating margin improved to 0% in Q4 2026 from negative 11% a year earlier, reflecting an 1,100 basis-point improvement. Additionally, Navan's non-GAAP income from operations increased to $25.416 million in Q3 FY2026 from $6.466 million in Q3 FY2025, with non-GAAP operating margin improving from 4% to 13%.