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),...

•  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 nCino’s 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 nCino’s future performance, outlook, guidance, the benefits from the use of nCino’s 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 nCino’s 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 nCino’s 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 management’s 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.

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