nCino(US:NCNO)2024-12-04 21:05Financial Performance - Total revenues for Q3 FY2025 were $138.8 million, a 14% increase year-over-year from $121.9 million in Q3 FY2024[4] - Subscription revenues for Q3 FY2025 were $119.9 million, also up 14% year-over-year from $104.8 million in Q3 FY2024[4] - Non-GAAP operating income for Q3 FY2025 was $28.0 million, a 38% increase from $20.4 million in Q3 FY2024[4] - Total revenues for the three months ended October 31, 2024, were $138,797, an increase from $121,942 for the same period in 2023, representing a growth of 13.8%[18] - GAAP total revenues for the three months ended October 31, 2024, increased to $138,797, up 13.7% from $121,942 in the same period of 2023[34] - Subscription revenues for the nine months ended October 31, 2024, reached $344,211, up from $301,996 in the prior year, reflecting a year-over-year increase of 13.9%[18] Profitability Metrics - nCino's GAAP net loss attributable for Q3 FY2025 was $(5.3) million, an improvement from $(16.4) million in Q3 FY2024[4] - Net loss attributable to nCino, Inc. for the three months ended October 31, 2024, was $(5,252), a decrease from $(16,379) in the same period last year, showing an improvement of 68.0%[18] - Basic non-GAAP net income attributable to nCino, Inc. per share for the three months ended October 31, 2024, was $0.21, up from $0.14 in the same period of 2023[40] - Non-GAAP operating income for the nine months ended October 31, 2024, was $71,785, compared to $42,506 in the prior year, indicating a 68.8% increase[38] Cash Flow and Liquidity - Cash, cash equivalents, and restricted cash totaled $258.3 million as of October 31, 2024, after utilizing $129.7 million for the acquisition of FullCircl[5] - Cash flows from operating activities for the nine months ended October 31, 2024, were $65,218, compared to $49,137 in the prior year, representing a 32.7% increase[21] - Cash and cash equivalents at the end of the period were $257,894, significantly higher than $100,475 at the end of the previous year[21] - Free cash flow for the nine months ended October 31, 2024, was $63,752, compared to $46,054 in the prior year, reflecting a 38.4% increase[41] Operational Highlights - Remaining Performance Obligation (RPO) as of October 31, 2024, was $1.095 billion, a 19% increase from $917.1 million as of October 31, 2023[4] - The acquisition of FullCircl was completed on November 5, 2024, enhancing onboarding capabilities with data aggregation components[6] - nCino signed a multi-solution expansion agreement with a top-40 bank in the U.S. shortly after the quarter end[6] - The company plans to continue focusing on market expansion and new product development to drive future growth[22] Expense Management - Operating expenses for the nine months ended October 31, 2024, totaled $252,824, compared to $246,917 for the same period in 2023, indicating a slight increase of 2.5%[18] - GAAP cost of subscription revenues for the three months ended October 31, 2024, was $33,769, up from $30,605 in the same period of 2023[34] - Non-GAAP sales & marketing expense for the nine months ended October 31, 2024, was $68,738, compared to $70,834 in the prior year, showing a decrease of 2.4%[38] Shareholder Information - The weighted average number of common shares outstanding for the three months ended October 31, 2024, was 115,611,833, compared to 112,951,553 in the same period last year[18] - Weighted-average shares used to compute diluted non-GAAP net income attributable to nCino, Inc. per share increased to 117,416,473 for the three months ended October 31, 2024, from 115,261,169 in the same period of 2023[40]