Navan, Inc. (NAVN) experienced a significant after-hours surge of 18.50% on Wednesday, following the release of its first-quarter fiscal 2027 results.

The corporate travel platform reported a substantial earnings beat, with adjusted EPS of $0.08 compared to the consensus estimate of a $0.01 loss, and revenue of $220.2 million, surpassing expectations of $205.3 million. Furthermore, the company raised its full-year revenue guidance to a range of $907 million to $913 million, up from its previous forecast of $866 million to $874 million, and increased its adjusted operating profit outlook to $76 million-$80 million from $58 million-$62 million.

Management cited resilient corporate travel demand, fueled by the AI boom and increased spending from technology firms, as well as a significant uptick in bookings related to the World Cup. Gross booking volume, a key demand metric, jumped 50% year-over-year to $3.1 billion in the quarter.