Sept 19 (Reuters) - Navan reported a 30% revenue surge

for the first half of fiscal 2026, the corporate travel

management platform disclosed on Friday in its U.S. initial

public offering filing, as tech firms take center stage in a

long-awaited IPO market recovery.

With IPO activity set to slow down through the end of

September after a fiery start to the fall season, corporate

issuers are gearing up for potential roadshow launches in

October.

Tech IPOs have led the recovery in first-time share sales

following a tariff-driven slowdown that halted the new listings

market in April.

Reuters reported in May that the IPO could value Navan at

more than $8 billion. In 2022, the company raised $300 million

in a Series G funding round, achieving a valuation of $9.2

billion.

Travel demand has rebounded from a tariff-related downturn

earlier this year, with major airline executives expressing

optimism about the industry's ability to increase fares later

this year.

Founded in 2015 as TripActions by Ariel Cohen and Ilan Twig,

Navan initially focused on corporate travel management, aiming

to modernize services traditionally provided by companies such

as American Express ( AXP ) and SAP Concur.

Over time, it expanded into corporate payments and expense

management, broadening its global reach.

The Palo Alto, California-based company reported a net loss

of $99.9 million on revenue of $329.4 million for the six months

ended July 31, compared to a loss of $92.5 million on revenue of

$253.7 million in the same period a year earlier.

Goldman Sachs, Citigroup, Jefferies, Mizuho and Morgan

Stanley are among more than a dozen underwriters managing the

offering.

Navan plans to list its shares on the Nasdaq under the

symbol "NAVN".