nCino Reports Financial Results for Second Quarter of Fiscal Year 2025

• Total income of $132.4 millionupwards 13% year-on-year
• Subscription revenue from $113.9 millionupwards 14%
year-on-year
• GAAP operating margin of (6)%up ~650 basis points year-on-year
• Non-GAAP operating margin of
15%an increase of ~500 basis points year-on-year

WILMINGTON, NC, 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.

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