Navan has acquired meetings and events management platform BoomPop for an undisclosed sum, the travel and expense platform announced on Wednesday. Meanwhile, Navan reported second-quarter revenue up more than a third year over year and continued enterprise customer growth.
BoomPop—an AI platform for planning, sourcing and managing events that has reported Accenture, Amazon, Google, Salesforce and Shopify among its users—earlier this year had announced a partnership with Navan to integrate within its Meetings & Events platform. Navan president Michael Sindicich said feedback from customers using that integration showed high satisfaction rates.
"So, we made the decision to say, 'Hey, we should join forces. You guys should come work for Navan and integrate your entire platform and solutions and help us build the future of online AI-powered meetings and events,' " Sindicich said.
That full integration will help Navan scale its existing meetings and events business, he added. BoomPop, which was named the winner by the judging panel at last year's Innovate: Launch competition at the Phocuswright Conference, said it has supported planning for events for about 250,000 people since its 2023 founding and is capable of supporting events ranging from small offsites to conferences with thousands of attendees.
"This expands our capabilities in meetings and events, an enormous category that remains largely unmanaged and messy," Navan co-founder and CEO Ariel Cohen said during an earnings call. "Together with BoomPop, we expect opportunities to make Navan more valuable to customers and expand the universe of customers we can serve."
Second Quarter Results
Navan on Wednesday reported total revenue of $233 million for the second quarter, ending July 31, of its 2027 fiscal year, an increase of 35 percent year over year. The company's gross booking volume increased 45 percent year over year to $3 billion during the quarter, and payment volume was up 34 percent year over year to $1.3 billion.
During the second quarter, Navan's sales team signed new business totaling $4 billion in annual gross booking volume, which marked an increase of 60 percent year over year and "our biggest sales quarter ever," Sindicich said. Cohen said Navan has added five new Fortune 500 companies as customers in the quarter, bringing its total to 50 on the list, and new clients include power solutions company Cummins, energy company Enbridge, industrial equipment company Ingersoll Rand, technology company Insight Enterprises and German investment firm Viessmann Generations Group.
"We are winning larger and more complex enterprise customers across the globe," Cohen said.
Cohen also said Navan's volume of requests for proposals during the first half of its fiscal year tripled compared with the first half of the 2026 fiscal year. With more "at-bats," Navan's win rates are increasing along with average pricing and productivity per rep, Sindicich said.
He added that growth is coming from existing customers as well.
"We see that the average traveler is traveling a bit more per person for year," Sindicich said. "We also are seeing people prioritizing a little bit more than we expected front of cabin, so we see more business- and first-class bookings."
In its earnings report, Navan raised its revenue expectations for its full 2027 fiscal year, which runs through the end of January, to the range of $927 million to $933 million, an increase of 32 percent year over year at the midpoint of that range. Previously, it had forecast a range with a midpoint increase of 30 percent year over year. Cohen said the increase is because "our execution is strong, our visibility is improving and the opportunity ahead is large."
Navan reported a net loss of $29.1 million for the quarter, compared with a net loss of $38.6 million in the second quarter of the 2026 fiscal year.
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