nCino Reports First Quarter Fiscal Year 2026 Financial Results

  Total Revenues of $144.1M, up 13% year-over-year
  Subscription Revenues of $125.6M, up 14% year-over-year

WILMINGTON, N.C., May 28, 2025 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), the leading provider of intelligent, best-in-class banking solutions, today announced financial results for the first quarter of fiscal year 2026, ended April 30, 2025.

“Strong execution drove financial results above guidance, underscoring our ability to deliver value for shareholders and customers,” said Sean Desmond, CEO at nCino. “We’re fulfilling our commitments and advancing key platform capabilities across commercial, consumer, and mortgage solutions, while enhancing onboarding and omnichannel experiences. At the same time, we’re accelerating our AI strategy to reimagine key banking workflows and seamlessly embedding intelligence across the entire nCino Platform to deliver more intuitive and engaging customer experiences.”

Financial Highlights

• Revenues: Total revenues for the first quarter of fiscal 2026 were $144.1 million, a 13% increase from $128.1 million in the first quarter of fiscal 2025. Subscription revenues for the first quarter were $125.6 million, up from $110.4 million one year ago, an increase of 14%.
• Income (Loss) from Operations: GAAP loss from operations in the first quarter of fiscal 2026 was $(1.5) million compared to $(3.7) million in the same quarter of fiscal 2025. Non-GAAP operating income in the first quarter of fiscal 2026 was $24.8 million compared to $24.4 million in the first quarter of fiscal 2025, an increase of 2%.
• Net Income (Loss) Attributable to nCino: GAAP net income (loss) attributable to nCino in the first quarter of fiscal 2026 was $5.6 million compared to $(3.0) million in the first quarter of fiscal 2025. Non-GAAP net income attributable to nCino in the first quarter of fiscal 2026 was $18.4 million compared to $22.8 million in the first quarter of fiscal 2025.
• Net Income (Loss) Attributable to nCino per Share: GAAP net income (loss) attributable to nCino in the first quarter of fiscal 2026 was $0.05 per basic and diluted share compared to $(0.03) per basic and diluted share in the first quarter of fiscal 2025. Non-GAAP net income attributable to nCino in the first quarter was $0.16 per diluted share compared to $0.20 per diluted share in the first quarter of fiscal 2025.
• Cash: Cash, cash equivalents, and restricted cash were $133.6 million as of April 30, 2025 and $208.5 million was outstanding under nCino’s revolving credit facility. In the first quarter ended April 30, 2025, nCino repurchased approximately 1.8 million shares of the Company’s outstanding common stock at an average share price of $22.17 for total consideration of $40.6 million.

Recent Business Highlights

• Signed a multi-solution expansion agreement with a $25 billion AUM bank in the U.S.: A regional bank in the U.S. doubled its annual commitment to nCino with an expansion agreement for Consumer Lending and U.S. Mortgage, accompanying a five-year renewal.
• Completed rollout of a top-5 bank in the U.S.: A top-5 bank in the U.S. completed its rollout of nCino Commercial Lending, bringing all of its commercial and business lending onto the nCino Platform.
• Selected by San ju San Bank for mortgage lending: A regional Japanese bank based in Yokkaichi City will use nCino to digitize its mortgage lending processes with the aim of improving employee efficiency and shortening loan cycle times.
• Benefited from expansion opportunities brought about by customer M&A: Signed expansion agreements with a top-50 bank in the U.S. and a top-10 Canadian bank following respective customers’ completed acquisitions.
• Hosted nSight 2025: Welcomed over 1,600 attendees to annual conference, nSight, where the Company unveiled its latest product enhancements leveraging advanced AI to tackle key challenges in financial services, including operations analytics, smarter risk management, personalized customer experiences, and streamlined compliance processes.
• Established the nCino Research Institute (nRI): At nSight, the Company also launched the nCino Research Institute (nRI), an initiative designed to offer economic trends analysis and banking benchmark data and analysis to help nCino’s customers excel in an unpredictable economic landscape. By leveraging the data within the nCino Platform and interpreting global economic indicators, the nRI delivers unique insights on banking performance and innovation, with actionable guidance to drive strategy and growth.

Financial Outlook
nCino is providing guidance for its second quarter ending July 31, 2025, as follows:

• Total revenues between $142.0 million and $144.0 million.
• Subscription revenues between $124.5 million and $126.5 million.
• Non-GAAP operating income between $23.5 million and $24.5 million.
• Non-GAAP net income attributable to nCino per diluted share of $0.13 to $0.14.

nCino is providing guidance for its fiscal year 2026 ending January 31, 2026, as follows:

• Total revenues between $578.5 million and $582.5 million.
• Subscription revenues between $507.0 million and $511.0 million.
• Non-GAAP operating income between $112.0 million and $116.0 million.
• Non-GAAP net income attributable to nCino per diluted share of $0.69 to $0.72.
• Annual Contract Value (ACV) between $564.0 million and $567.0 million.

Conference Call
nCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook. The conference call will be available via live webcast and replay at the Investor Relations section of nCinos website: https://investor.ncino.com/news-events/events-and-presentations.

About nCino
nCino (NASDAQ: NCNO) is powering a new era in financial services. The Company was founded to help financial institutions digitize and reengineer business processes to boost efficiencies and create better banking experiences. With over 2,700 customers worldwide – including community banks, credit unions, independent mortgage banks, and the largest financial entities globally – nCino offers a trusted platform of best-in-class, intelligent solutions. By integrating artificial intelligence and actionable insights into its platform, nCino is helping financial institutions consolidate legacy systems to enhance strategic decision-making, improve risk management, and elevate customer satisfaction by cohesively bringing together people, AI and data. For more information, visit www.ncino.com.

INVESTOR CONTACT
Harrison Masters
Harrison.masters@ncino.com

MEDIA CONTACT
Natalia Moose
press@ncino.com

Forward-Looking Statements: This press release contains forward-looking statements about nCino’s financial and operating results, which include statements regarding nCinos future performance, outlook, guidance, the benefits from the use of nCinos solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words believes, expects, intends, anticipates, plans, seeks, estimates, projects, may, will, could, might, or continues or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCinos historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCinos expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with acquisitions we undertake, (iv) breaches in our security measures or unauthorized access to our customers or their clients’ data; (v) the accuracy of managements assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution, including in connection with our migration to an asset-based pricing model; (vii) competitive factors, including pricing pressures and migration to asset-based pricing, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (viii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses.

nCino, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)
	January 31, 2025				April 30, 2025
Assets
Current assets
Cash and cash equivalents	$	120,928			$	133,230
Accounts receivable, net		146,787				104,417
Costs capitalized to obtain revenue contracts, current portion, net		13,462				13,928
Prepaid expenses and other current assets		21,072				22,109
Total current assets		302,249				273,684
Property and equipment, net		74,953				77,293
Operating lease right-of-use assets, net		16,026				15,560
Costs capitalized to obtain revenue contracts, noncurrent, net		23,735				23,233
Goodwill		1,019,375				1,080,657
Intangible assets, net		154,571				161,316
Investments		9,294				7,262
Long-term prepaid expenses and other assets		10,178				11,937
Total assets	$	1,610,381			$	1,650,942
Liabilities, redeemable non-controlling interest, and stockholders equity
Current liabilities
Accounts payable	$	13,640			$	15,101
Accrued expenses and other current liabilities		39,865				35,185
Deferred revenue, current portion		191,174				203,659
Financing obligations, current portion		1,680				1,729
Operating lease liabilities, current portion		5,153				5,068
Total current liabilities		251,512				260,742
Operating lease liabilities, noncurrent		12,819				12,338
Deferred income taxes, noncurrent		13,851				20,718
Deferred revenue, noncurrent		269				277
Revolving credit facility, noncurrent		166,000				208,500
Financing obligations, noncurrent		51,172				50,713
Other long-term liabilities		17,160				16,707
Total liabilities		512,783				569,995
Commitments and contingencies
Redeemable non-controlling interest		8,286				8,729
Stockholders equity
Common stock		58				59
Treasury stock, at cost						(40,588	)
Additional paid-in capital		1,474,413				1,490,590
Accumulated other comprehensive income		176				1,551
Accumulated deficit		(385,335	)			(379,394	)
Total stockholders equity		1,089,312				1,072,218
Total liabilities, redeemable non-controlling interest, and stockholders equity	$	1,610,381			$	1,650,942

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nCino, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) (Unaudited)
	Three Months Ended April 30,
		2024				2025
Revenues
Subscription	$	110,406			$	125,588
Professional services and other		17,681				18,549
Total revenues		128,087				144,137
Cost of revenues
Subscription		31,780				36,125
Professional services and other		19,400				21,570
Total cost of revenues		51,180				57,695
Gross profit		76,907				86,442
Gross margin %		60	%			60	%
Operating expenses
Sales and marketing		28,045				32,971
Research and development		29,981				33,341
General and administrative		22,544				21,643
Total operating expenses		80,570				87,955
Loss from operations		(3,663	)