Group 1 - The previous investment rating for nCino Inc. (NCNO) was a sell due to significant headwinds, particularly its exposure to mortgage volume [1] - The investment approach focuses on long-term investments while incorporating short-term shorts to uncover alpha opportunities [1] - The analysis emphasizes bottom-up analysis to assess the fundamental strengths and weaknesses of individual companies [1] Group 2 - The investment duration is medium to long-term, aiming to identify companies with solid fundamentals, sustainable competitive advantages, and growth potential [1]

Group 1 - nCino held its first quarter fiscal year 2026 earnings call, featuring CEO Sean Desmond and CFO Greg Orenstein [3] - The call included discussions on forward-looking statements regarding trends, strategies, and anticipated business performance, which are based on current management views and expectations [4] - The company plans to discuss non-GAAP metrics to aid in understanding financial results, with reconciliations to GAAP metrics available in the earnings release [5]

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. NCino (NCNO) came out with quarterly earnings of $0.16 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.18 per share when it ...

nCino (NCNO) Q1 2026 Earnings Call May 28, 2025 04:30 PM ET Company Participants Harrison Masters - Manager - Strategic Finance & Investor RelationsSean Desmond - President & CEOGreg Orenstein - Chief Financial OfficerSaket Kalia - Managing DirectorRobert Dee - Equity Research AssociateKoji Ikeda - Director - Enterprise Software Equity ResearchRyan Tomasello - Managing DirectorNick Altmann - Director - U.S. Software Equity ResearchAlexander Sklar - Vice PresidentAaron Kimson - Vice PresidentMichael Infante ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2026 were $144.1 million, representing a 13% year-over-year increase [17] - Subscription revenues were $125.6 million, up 14% year-over-year on a reported basis and 9% organically [17] - Non-GAAP operating income was $24.8 million, or 17% of total revenues, with non-GAAP net income attributable to nCino at $18.4 million, or $0.16 per diluted share [20][21] - The company expects total revenues for Q2 2026 to be between $142 million and $144 million, with subscription revenues between $124.5 million and $126.5 million [21] Business Line Data and Key Metrics Changes - Professional services revenues were $18.5 million, an increase of 5% year-over-year, driven by revenue recognition adjustments [18] - Non-U.S. total revenues were $31.6 million, up 22% year-over-year or 23% in constant currency [19] - Non-U.S. subscription revenues were $25.9 million, up 31% year-over-year or 32% in constant currency [20] Market Data and Key Metrics Changes - The company reported strong demand in the market, particularly for AI capabilities and omnichannel experiences showcased at the annual Insight customer conference [6][8] - A $25 billion regional bank doubled its annual commitment to nCino through the adoption of mortgage and consumer lending solutions [9] - An $800 million credit union expanded its relationship with nCino by adopting additional solutions, indicating strong market penetration [10] Company Strategy and Development Direction - nCino aims to eliminate inefficiencies in financial institutions caused by legacy infrastructure, focusing on a unified scalable platform powered by AI [4][5] - The company is committed to international expansion, with significant progress noted in Europe and Japan [11] - AI is central to nCino's long-term differentiation strategy, leveraging a large process-centric dataset in FinTech [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial institution customers' positions, noting healthy balance sheets and growth projections in loan portfolios and earnings [12][13] - The company is sensitive to macroeconomic conditions but sees encouraging signs of stability in the mortgage market [12] - Management highlighted a restructuring event affecting approximately 7% of the workforce aimed at streamlining operations and enhancing efficiency [14] Other Important Information - The company repurchased approximately 1.8 million shares during Q1 at an average price of $22.17, totaling $40.6 million [21] - The restructuring is expected to yield approximately $24 million in gross annualized expense savings [24][25] Q&A Session Summary Question: How is the underlying demand and willingness to invest with bank clients? - Management expressed confidence in demand, validated by steady interest across various solutions and a strong pipeline activity [31][33] Question: What is driving the Professional Services gross margins? - Management noted price and cost pressures in the community bank space but highlighted efforts to redesign products for efficiency and leverage AI for margin improvement [34][36] Question: What is most misunderstood about the company’s story? - Management believes there is good alignment and understanding of the company's focus on execution discipline and growth initiatives [40][42] Question: How does the company view the workforce reduction and office space optimization? - Management indicated that the office space reduction was part of a broader strategy to optimize capacity and improve efficiency [48][51] Question: What are the growth signals for reinvesting cost savings back into the business? - Management looks for pipeline activity and overall sales process health as indicators for potential reinvestment opportunities [72][74] Question: How is loan growth impacting demand? - Management confirmed that loan growth is positively influencing demand for their solutions, particularly in loan origination and monitoring [102][103] Question: What is the outlook for international performance? - Management noted strong international growth driven by acquisitions and optimism about opportunities in Japan and Europe [110][111]

มใน NCino. First Quarter Fiscal Year 2026 May 28, 2025 Cautionary Note Regarding Forward-Looking Statements, Disclaimers and Financial Measures In addition to financial information presented in accordance with U.S. aenerally accepted accounting principles ("GAAP"), this presentation includes certain nol-GAR financial mecaures, including Non-GAP Operating Loss. Any non-GAPP measure is presented for supplemental informational purcosses only and should not be considered a substlute for financial information pr ...

Revenue Growth - Total revenues increased from $128,087 thousand in Q1 2024 to $144,137 thousand in Q1 2025, representing a growth of 12.5%[17] - Subscription revenues rose from $110,406 thousand in Q1 2024 to $125,588 thousand in Q1 2025, an increase of 13.8%[17] - Total revenue for the three months ended April 30, 2025, was $144.1 million, representing a 12.6% increase from $128.1 million in the same period of 2024[67] - Revenues from the United States for the three months ended April 30, 2025, were $112.6 million, up from $102.2 million in the same period of 2024[160] - Subscription revenues for the three months ended April 30, 2025, were $125.6 million, a 13.8% increase from $110.4 million in the same period of 2024[182] Profitability - Net income attributable to nCino, Inc. improved from a loss of $2,976 thousand in Q1 2024 to a profit of $5,562 thousand in Q1 2025[17] - The net income attributable to the Company for the three months ended April 30, 2025, was $5.6 million, compared to a net loss of $3.0 million for the same period in 2024, representing a significant turnaround[157] - Net income improved from a loss of $2.3 million in Q2 2024 to a profit of $6.0 million in Q2 2025[202] Operating Expenses - Operating expenses increased from $80,570 thousand in Q1 2024 to $87,955 thousand in Q1 2025, reflecting a rise of 9.4%[17] - Operating expenses increased from $80.6 million in Q2 2024 to $88.0 million in Q2 2025, with the operating loss narrowing from $3.7 million to $1.5 million[211] - Sales and marketing expenses rose by $4.9 million, driven by increased personnel costs and marketing expenses[212] Cash Flow and Liquidity - Cash flows from operating activities remained stable, with $54,442 thousand in Q1 2024 compared to $54,320 thousand in Q1 2025[27] - The company reported a net cash increase of $17,394 thousand in Q1 2024, while in Q1 2025, the increase was $12,313 thousand[27] - Cash and cash equivalents at the end of the period decreased slightly from $129,481 thousand in Q1 2024 to $133,230 thousand in Q1 2025[27] Acquisitions - The company acquired DocFox for $74.3 million, with transaction costs of approximately $3.9 million recorded in general and administrative expenses[79] - The FullCircl acquisition was completed for a total consideration of $142.4 million, with $129.2 million paid in cash at the acquisition date[94] - The company acquired Sandbox Banking for an aggregate purchase price of $62.9 million, enhancing its data connectivity and operational capabilities[179] Stock and Shareholder Actions - In March 2025, the Board of Directors authorized a stock repurchase program of up to $100 million, with $59.4 million remaining as of April 30, 2025[119][121] - During the three months ended April 30, 2025, the company repurchased 1,829,113 shares at an average price of $22.17, totaling $40.551 million[120] - The company granted 2,644,929 RSUs on May 1, 2025, expecting to recognize stock-based compensation expense of $60.5 million over a weighted average period of 4 years[163] Future Expectations - The Company expects to incur restructuring charges of approximately $7.5 to $9.0 million in the second quarter of fiscal 2026 due to a workforce reduction of about 7%[165] - The company expects to increase investment in product development and sales and marketing to drive future growth[188] - The company anticipates that subscription revenues will continue to make up an increasing proportion of total revenues over time[185] Financial Position - The Company had outstanding debt of $208.5 million under the 2024 Credit Facility as of April 30, 2025, with an interest rate of 6.32% and an available borrowing capacity of $41.5 million[143] - The total lease liabilities as of April 30, 2025, amounted to $21.169 million, with long-term lease obligations of $12.338 million[131] - The Company had total purchase commitments of $217.1 million and financing obligations of $52.4 million as of April 30, 2025[149]

Exhibit 99.1 nCino Reports First Quarter Fiscal Year 2026 Financial Results WILMINGTON, N.C., May 28, 2025 -- 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 a ...

• 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 ...

WILMINGTON, N.C., May 21, 2025 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), the leading provider of intelligent, best-in-class banking solutions, today announced its participation in the following investor conferences: Baird’s 2025 Global Consumer, Technology, & Services ConferencePresentation: Tuesday June 3, at 9:40 a.m. ET BofA Securities 2025 Global Technology ConferencePresentation: Thursday June 5, at 10:40 a.m. PT (1:40 p.m. ET) Morgan Stanley US Financial ConferencePresentation: Tuesday June 10, ...