Business

nCino Reports Second Quarter Fiscal Year 2025 Financial Results

Article content

• Total Revenues of $132.4M, up 13% year-over-year
• Subscription Revenues of $113.9M, up 14% year-over-year
• GAAP Operating Margin of (6)%, up ~650 basis points year-over-year
• Non-GAAP Operating Margin of 15%, up ~500 basis points year-over-year

WILMINGTON, N.C., Aug. 27, 2024 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced financial results for the second quarter of fiscal year 2025, ended July 31, 2024.

Advertisement 2

Article content

“We are pleased to report that we again exceeded quarterly guidance for total and subscription revenues as well as non-GAAP operating income,” said Pierre Naudé, Chairman and CEO at nCino. “In the second quarter we saw particular strength in the U.S. across both the enterprise and community & regional segments, with increased demand for solutions that span the breadth of the nCino platform including consumer lending and deposit account opening, as well as our Generative AI offering, Banking Advisor. While some macro-economic challenges persist, particularly in the U.S. mortgage market and international markets, we have a positive outlook on the second half of the year.”

Financial Highlights

  • Revenues: Total revenues for the second quarter of fiscal 2025 were $132.4 million, a 13% increase from $117.2 million in the second quarter of fiscal 2024. Subscription revenues for the second quarter were $113.9 million, up from $99.9 million one year ago, an increase of 14%.
  • Income (Loss) from Operations: GAAP loss from operations in the second quarter of fiscal 2025 was $(7.9) million compared to $(14.8) million in the same quarter of fiscal 2024. Non-GAAP operating income in the second quarter of fiscal 2025 was $19.3 million compared to $11.2 million in the second quarter of fiscal 2024.
  • Net Income (Loss) Attributable to nCino: GAAP net loss attributable to nCino in the second quarter of fiscal 2025 was $(11.0) million compared to $(15.9) million in the second quarter of fiscal 2024. Non-GAAP net income attributable to nCino in the second quarter of fiscal 2025 was $15.8 million compared to $9.9 million in the second quarter of fiscal 2024.
  • Net Income (Loss) Attributable to nCino per Share: GAAP net loss attributable to nCino in the second quarter of fiscal 2025 was $(0.10) per basic and diluted share compared to $(0.14) per basic and diluted share in the second quarter of fiscal 2024. Non-GAAP net income attributable to nCino in the second quarter was $0.14 per diluted share compared to $0.09 per diluted share in the second quarter of fiscal 2024.
  • Remaining Performance Obligation: Total Remaining Performance Obligation (RPO) as of July 31, 2024, was $1.041 billion, compared with $928.6 million as of July 31, 2023, an increase of 12%. RPO expected to be recognized in the next 24 months was $698.3 million, an increase of 10% from $636.2 million as of July 31, 2023.
  • Cash: Cash, cash equivalents, and restricted cash were $126.8 million as of July 31, 2024. During the second quarter, the Company repaid $15 million on its revolving credit facility.

Advertisement 3

Article content

Recent Business Highlights

  • Extended partnership with ABN AMRO, a Top 25 European Bank: As a result of the successful project and go-live, nCino and ABN AMRO have extended their partnership. By implementing nCino, ABN AMRO is unlocking added business value through enhanced collateral management and consolidating multiple legacy systems into one platform, unifying its end-to-end lending process for both customers and employees.
  • Completed Banking Advisor add-on with an approximately $45 billion-asset bank: A bank using nCino for Commercial lending, Mortgage POS, and multiple solutions powered by nIQ, including Commercial Pricing and Profitability and Automated Spreading became the first Enterprise customer to add Banking Advisor.
  • Signed largest bank customer to date for Portfolio Analytics: An over $20B asset institution became the largest bank by asset size to expand their use of the platform from Commercial lending and Deposit Account Opening to include Portfolio Analytics for CRE stress testing.
  • Extended relationship with largest client in the UK: Renewed relationship with a Top 5 European bank for an additional three years.

Article content

Advertisement 4

Article content

Financial Outlook
nCino is providing guidance for its third quarter ending October 31, 2024, as follows:

  • Total revenues between $136.0 million and $138.0 million.
  • Subscription revenues between $117.0 million and $119.0 million.
  • Non-GAAP operating income between $21.0 million and $22.0 million.
  • Non-GAAP net income attributable to nCino per diluted share of $0.15 to $0.16.

nCino is providing guidance for its fiscal year 2025 ending January 31, 2025, as follows:

  • Total revenues between $538.5 million and $544.5 million.
  • Subscription revenues between $463.0 million and $469.0 million.
  • Non-GAAP operating income between $87.0 million and $90.0 million.
  • Non-GAAP net income attributable to nCino per diluted share of $0.66 to $0.69.

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 the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,800 financial services providers globally. For more information, visit www.ncino.com.

Advertisement 5

Article content

CONTACTS
INVESTOR CONTACT
Harrison Masters
nCino
+1 910.734.7743
[email protected]

MEDIA CONTACT
Natalia Moose
nCino
[email protected]

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 assumptions underlying those statements, 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; (vii) competitive factors, including pricing pressures, 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.

Advertisement 6

Article content

Additional risks and uncertainties that could affect nCino’s business and financial results are included in our reports filed with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC’s web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.

nCino, Inc.
 
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
 
  January 31, 2024   July 31, 2024
Assets      
Current assets      
Cash and cash equivalents $ 112,085     $ 121,410  
Accounts receivable, net   112,975       78,819  
Costs capitalized to obtain revenue contracts, current portion, net   10,544       11,565  
Prepaid expenses and other current assets   15,171       16,957  
Total current assets   250,775       228,751  
Property and equipment, net   79,145       76,785  
Operating lease right-of-use assets, net   19,261       15,928  
Costs capitalized to obtain revenue contracts, noncurrent, net   17,425       19,137  
Goodwill   838,869       908,000  
Intangible assets, net   115,572       135,524  
Investments   9,294       9,294  
Long-term prepaid expenses and other assets   10,089       15,328  
Total assets $ 1,340,430     $ 1,408,747  
Liabilities, redeemable non-controlling interest, and stockholders’ equity      
Current liabilities      
Accounts payable $ 11,842     $ 13,137  
Accrued compensation and benefits   16,283       11,555  
Accrued expenses and other current liabilities   10,847       7,930  
Deferred revenue, current portion   170,941       172,038  
Financing obligations, current portion   1,474       1,567  
Operating lease liabilities, current portion   3,649       4,750  
Total current liabilities   215,036       210,977  
Operating lease liabilities, noncurrent   16,423       12,508  
Deferred income taxes, noncurrent   3,687       11,196  
Deferred revenue, noncurrent         569  
Revolving credit facility, noncurrent         40,000  
Financing obligations, noncurrent   52,680       51,865  
Other long-term liabilities         2,644  
Total liabilities   287,826       329,759  
Commitments and contingencies      
Redeemable non-controlling interest   3,428       4,133  
Stockholders’ equity      
Common stock   57       58  
Additional paid-in capital   1,400,881       1,439,245  
Accumulated other comprehensive income   996       1,407  
Accumulated deficit   (352,758 )     (365,855 )
Total stockholders’ equity   1,049,176       1,074,855  
Total liabilities, redeemable non-controlling interest, and stockholders’ equity $ 1,340,430     $ 1,408,747  
               

Advertisement 7

Article content

nCino, Inc.
 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)
 
  Three Months Ended July 31,   Six Months Ended July 31,
    2023       2024       2023       2024  
Revenues              
Subscription $ 99,897     $ 113,911     $ 197,237     $ 224,317  
Professional services and other   17,339       18,492       33,671       36,173  
Total revenues   117,236       132,403       230,908       260,490  
Cost of revenues              
Subscription   29,719       33,367       58,876       65,147  
Professional services and other   18,328       20,564       35,359       39,964  
Total cost of revenues   48,047       53,931       94,235       105,111  
    Gross profit   69,189       78,472       136,673       155,379  
        Gross margin %   59 %     59 %     59 %     60 %
Operating expenses              
Sales and marketing   32,164       31,713       62,105       59,758  
Research and development   29,889       34,271       58,084       64,252  
General and administrative   21,930       20,394       39,905       42,938  
Total operating expenses   83,983       86,378       160,094       166,948  
    Loss from operations   (14,794 )     (7,906 )     (23,421 )     (11,569 )
Non-operating income (expense)              
Interest income   835       321       1,372       926  
Interest expense   (1,044 )     (1,835 )     (2,423 )     (3,312 )
Other income (expense), net   469       150       (313 )     (594 )
    Loss before income taxes   (14,534 )     (9,270 )     (24,785 )     (14,549 )
Income tax provision (benefit)   1,545       1,753       2,938       (1,229 )
    Net loss   (16,079 )     (11,023 )     (27,723 )     (13,320 )
    Net loss attributable to redeemable non-controlling interest   (268 )     (58 )     (548 )     (223 )
Adjustment attributable to redeemable non-controlling interest   73       75       (48 )     919  
    Net loss attributable to nCino, Inc. $ (15,884 )   $ (11,040 )   $ (27,127 )   $ (14,016 )
Net loss per share attributable to nCino, Inc.:              
Basic and diluted $ (0.14 )   $ (0.10 )   $ (0.24 )   $ (0.12 )
Weighted average number of common shares outstanding:              
Basic and diluted   112,396,716       115,180,130       112,262,527       114,694,001  
                               

Advertisement 8

Article content

nCino, Inc.
 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
   
  Six Months Ended July 31,
    2023       2024  
Cash flows from operating activities      
Net loss attributable to nCino, Inc. $ (27,127 )   $ (14,016 )
Net loss and adjustment attributable to redeemable non-controlling interest   (596 )     696  
Net loss   (27,723 )     (13,320 )
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization   18,297       17,219  
Non-cash operating lease costs   2,421       2,715  
Amortization of costs capitalized to obtain revenue contracts   4,869       5,645  
Amortization of debt issuance costs   92       31  
Stock-based compensation   26,146       35,044  
Deferred income taxes   790       (2,656 )
Provision for bad debt   756       25  
Net foreign currency losses (gains)   (38 )     392  
Loss on disposal of long-lived assets   144       30  
Change in operating assets and liabilities:      
Accounts receivable   18,446       37,778  
Costs capitalized to obtain revenue contracts   (3,002 )     (8,382 )
Prepaid expenses and other assets   1,051       (2,430 )
Accounts payable   (1,406 )     768  
Accrued expenses and other liabilities   (9,313 )     (8,645 )
Deferred revenue   13,772       (2,572 )
Operating lease liabilities   (2,035 )     (2,201 )
Net cash provided by operating activities   43,267       59,441  
Cash flows from investing activities      
Acquisition of business, net of cash acquired         (90,839 )
Acquisition of assets   (356 )     (300 )
Purchases of property and equipment   (2,464 )     (786 )
Net cash used in investing activities   (2,820 )     (91,925 )
Cash flows from financing activities      
Proceeds from borrowings on revolving credit facility         75,000  
Payments on revolving credit facility   (30,000 )     (35,000 )
Payments of debt issuance costs         (370 )
Exercise of stock options   2,204       1,737  
Stock issuance under the employee stock purchase plan   2,698       2,514  
Principal payments on financing obligations   (564 )     (722 )
Net cash provided by (used in) financing activities   (25,662 )     43,159  
Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash   1,166       (1,354 )
Net increase in cash, cash equivalents, and restricted cash   15,951       9,321  
Cash, cash equivalents, and restricted cash, beginning of period   87,418       117,444  
Cash, cash equivalents, and restricted cash, end of period $ 103,369     $ 126,765  
       
Reconciliation of cash, cash equivalents, and restricted cash, end of period:      
Cash and cash equivalents $ 98,003     $ 121,410  
Restricted cash included in prepaid expenses and other current assets   5,162        
Restricted cash included in long-term prepaid expenses and other assets   204       5,355  
Total cash, cash equivalents, and restricted cash, end of period $ 103,369     $ 126,765  
               

Advertisement 9

Article content

Non-GAAP Financial Measures
In nCino’s public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures.

  • Amortization of Purchased Intangibles. nCino incurs amortization expense for purchased intangible assets in connection with certain mergers and acquisitions. Because these costs have already been incurred, cannot be recovered, are non-cash, and are affected by the inherent subjective nature of purchase price allocations, nCino excludes these expenses for our internal management reporting processes. nCino’s management also finds it useful to exclude these charges when assessing the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Although nCino excludes amortization expense for purchased intangibles from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation.
  • Stock-Based Compensation Expenses. nCino excludes stock-based compensation expenses primarily because they are non-cash expenses that nCino excludes from our internal management reporting processes. nCino’s management also finds it useful to exclude these expenses when they assess the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use, nCino believes excluding stock-based compensation expenses allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies.
  • Acquisition-Related Expenses. nCino excludes expenses related to acquisitions as they limit comparability of operating results with prior periods. We believe these costs, which are primarily related to legal, consulting and other professional services fees, are non-recurring in nature and outside the ordinary course of business.
  • Litigation Expenses. nCino excludes fees and expenses related to litigation expenses incurred from legal matters outside the ordinary course of our business as we believe their exclusion from non-GAAP operating expenses will facilitate a more meaningful explanation of operating results and comparisons with prior period results.
  • Restructuring Costs. nCino excludes costs incurred related to bespoke restructuring plans and other one-time costs that are fundamentally different in strategic nature and frequency from ongoing initiatives. We believe excluding these costs facilitates a more consistent comparison of operating performance over time.
  • Tax Benefit Related to Acquisitions. In connection with deferred tax liabilities assumed from acquisitions, nCino may reduce the valuation allowance against deferred tax assets, resulting in a one-time tax benefit recorded in Income tax provision (benefit). We believe that the exclusion of this benefit from our non-GAAP net income attributable to nCino and non-GAAP net income attributable to nCino per share provides a more direct comparison to all periods presented.
  • Income Tax Effect on Non-GAAP Adjustments. The income tax effects are related to the imputed tax impact on the difference between GAAP and non-GAAP costs and expenses.
  • Adjustment to Redeemable Non-Controlling Interest. nCino adjusts the value of redeemable non-controlling interest of its joint venture nCino K.K. in accordance with the operating agreement for that entity. nCino believes investors benefit from an understanding of the company’s operating results absent the effect of this adjustment, and for comparability, has reconciled this adjustment for previously reported non-GAAP results.

Advertisement 10

Article content

There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino’s management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below. 

Advertisement 11

Article content

nCino, Inc.
 
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(In thousands, except share and per share data)
(Unaudited)
 
  Three Months Ended July 31,   Six Months Ended July 31,
    2023       2024       2023       2024  
GAAP total revenues $ 117,236     $ 132,403     $ 230,908     $ 260,490  
               
GAAP cost of subscription revenues $ 29,719     $ 33,367     $ 58,876     $ 65,147  
Amortization expense – developed technology   (4,190 )     (4,404 )     (8,441 )     (8,522 )
Stock-based compensation   (485 )     (793 )     (799 )     (1,355 )
Restructuring charges   (21 )           (39 )      
Non-GAAP cost of subscription revenues $ 25,023     $ 28,170     $ 49,597     $ 55,270  
               
GAAP cost of professional services and other revenues $ 18,328     $ 20,564     $ 35,359     $ 39,964  
Amortization expense – other   (83 )     (83 )     (165 )     (165 )
Stock-based compensation   (2,460 )     (2,980 )     (4,089 )     (5,759 )
Restructuring charges   (46 )           (92 )      
Non-GAAP cost of professional services and other revenues $ 15,739     $ 17,501     $ 31,013     $ 34,040  
               
GAAP gross profit $ 69,189     $ 78,472     $ 136,673     $ 155,379  
Amortization expense – developed technology   4,190       4,404       8,441       8,522  
Amortization expense – other   83       83       165       165  
Stock-based compensation   2,945       3,773       4,888       7,114  
Restructuring charges   67             131        
Non-GAAP gross profit $ 76,474     $ 86,732     $ 150,298     $ 171,180  
               
The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1
GAAP gross margin %   59 %     59 %     59 %     60 %
Amortization expense – developed technology   4       3       4       3  
Amortization expense – other                      
Stock-based compensation   3       3       2       3  
Restructuring charges                      
Non-GAAP gross margin %   65 %     66 %     65 %     66 %
               
GAAP sales & marketing expense $ 32,164     $ 31,713     $ 62,105     $ 59,758  
Amortization expense – customer relationships   (2,167 )     (2,730 )     (4,335 )     (5,153 )
Amortization expense – trade name   (604 )     (104 )     (1,208 )     (147 )
Amortization expense – other         (28 )           (44 )
Stock-based compensation   (3,830 )     (4,184 )     (7,041 )     (8,140 )
Restructuring charges   (38 )           (76 )      
Non-GAAP sales & marketing expense $ 25,525     $ 24,667     $ 49,445     $ 46,274  
               
GAAP research & development expense $ 29,889     $ 34,271     $ 58,084     $ 64,252  
Stock-based compensation   (4,279 )     (5,286 )     (7,279 )     (9,512 )
Restructuring charges   (131 )           (265 )      
Non-GAAP research & development expense $ 25,479     $ 28,985     $ 50,540     $ 54,740  
               
GAAP general & administrative expense $ 21,930     $ 20,394     $ 39,905     $ 42,938  
Stock-based compensation   (4,227 )     (5,596 )     (6,938 )     (10,278 )
Acquisition-related expenses   (212 )     (947 )     (423 )     (5,987 )
Litigation expenses   (3,204 )     (69 )     (4,349 )     (250 )
Restructuring charges   (2 )           (5 )      
Non-GAAP general & administrative expense $ 14,285     $ 13,782     $ 28,190     $ 26,423  
               
GAAP loss from operations $ (14,794 )   $ (7,906 )   $ (23,421 )   $ (11,569 )
Amortization of intangible assets   7,044       7,349       14,149       14,031  
Stock-based compensation   15,281       18,839       26,146       35,044  
Acquisition-related expenses   212       947       423       5,987  
Litigation expenses   3,204       69       4,349       250  
Restructuring charges   238             477        
Non-GAAP operating income $ 11,185     $ 19,298     $ 22,123     $ 43,743  
               
The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1
GAAP operating margin % (13)%   (6)%   (10)%   (4)%
Amortization of intangible assets   6       6       6       5  
Stock-based compensation   13       14       11       13  
Acquisition-related expenses         1             2  
Litigation expenses   3             2        
Restructuring charges                      
Non-GAAP operating margin %   10 %     15 %     10 %     17 %
               
GAAP net loss attributable to nCino, Inc. $ (15,884 )   $ (11,040 )   $ (27,127 )   $ (14,016 )
Amortization of intangible assets   7,044       7,349       14,149       14,031  
Stock-based compensation   15,281       18,839       26,146       35,044  
Acquisition-related expenses   212       947       423       5,987  
Litigation expenses   3,204       69       4,349       250  
Restructuring charges   238             477        
Tax benefit related to acquisition                     (3,609 )
Income tax effect on non-GAAP adjustments   (225 )     (454 )     (379 )     (793 )
Adjustment attributable to redeemable non-controlling interest   73       75       (48 )     919  
Non-GAAP net income attributable to nCino, Inc. $ 9,943     $ 15,785     $ 17,990     $ 37,813  
               
Basic and diluted GAAP net loss attributable to nCino, Inc. per share $ (0.14 )   $ (0.10 )   $ (0.24 )   $ (0.12 )
Weighted-average shares used to compute basic and diluted GAAP net loss attributable to nCino, Inc. per share   112,396,716       115,180,130       112,262,527       114,694,001  
               
Basic non-GAAP net income attributable to nCino, Inc. per share $ 0.09     $ 0.14     $ 0.16     $ 0.33  
Weighted-average shares used to compute basic non-GAAP net income attributable to nCino, Inc. per share   112,396,716       115,180,130       112,262,527       114,694,001  
               
Diluted non-GAAP net income attributable to nCino, Inc. per share $ 0.09     $ 0.14     $ 0.16     $ 0.32  
Weighted-average shares used to compute diluted non-GAAP net income attributable to nCino, Inc. per share   114,549,192       116,849,057       114,336,289       116,706,457  
               
Free cash flow              
Net cash provided by operating activities $ 11,964     $ 4,999     $ 43,267     $ 59,441  
Purchases of property and equipment   (859 )     (444 )     (2,464 )     (786 )
Free cash flow $ 11,105     $ 4,555     $ 40,803     $ 58,655  
Principal payments on financing obligations2   (320 )     (363 )     (564 )     (722 )
Free cash flow less principal payments on financing obligations $ 10,785     $ 4,192     $ 40,239     $ 57,933  
                               

1Columns may not foot due to rounding.
2These amounts represent the non-interest component of payments towards financing obligations for facilities.

CONTACTS

INVESTOR CONTACT
Harrison Masters
nCino
+1 910.734.7743
[email protected]

MEDIA CONTACT
Natalia Moose
nCino
[email protected]


Article content


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button