🔴 Navan is trading 19.7% down today after operating costs rose and loss widened

Navan is trading 19.7% down now at $20.79 after investors focused on rising operating costs and a wider operating loss despite an earnings beat.

• Operating expenses increased 46% to $200.2 million, while the operating loss widened to $25.6 million.
• Revenue rose 35% to $232.8 million, and fiscal-year guidance was raised.
• Reuters reported shares fell 17% in extended trading on cost concerns.