Navan lifted its full-year outlook after narrowing its second-quarter loss, and said it acquired the artificial-intelligence events platform BoomPop.

The business travel and expense platform on Wednesday said the acquisition of BoomPop builds on a partnership between the two companies and will expand Navan's presence in meetings and events.

Financial terms of the deal weren't disclosed. The company said the acquisition won't materially impact its previously issued financial guidance.

The deal comes as Navan reported a second-quarter loss of $29.1 million, or 11 cents a share, in the quarter ended July 31. That compares with a loss of $38.6 million, or 83 cents a share, a year earlier.

Stripping out certain one-time items, adjusted earnings were 5 cents a share. Analysts polled by FactSet were expecting 4 cents a share.

Revenue grew 35% to $232.8 million, beating analyst expectations for $220.5 million.

"We believe our results reflect durable demand for face-to-face connection and the combined strength of our superior technology, go-to-market model, and differentiated customer experience," Chief Executive Officer Ariel Cohen said. "We are again raising our full-year outlook as we enter the second half in a position of growing strength."

Navan said it now projects revenue between $927 million and $933 million compared to previous guidance for revenue between $907 million and $913 million. Analysts currently expect $911.3 million in full-year revenue.

For the current third quarter, the company is forecasting revenue between $253 million and $255 million. Analysts are expecting $248.2 million.

Shares fell 12% to $22.80 in after-hours trading.