Summary of nCino FY Conference Call (September 11, 2025) Company Overview - **Company**: nCino (NasdaqGS:NCNO) - **Industry**: Cloud Banking and Financial Technology Key Points and Arguments Business Growth and Market Position - nCino has tripled its Annual Recurring Revenue (ARR) since its IPO in July 2020, but growth has slowed to about 13% this year [3][4] - The company aims to double its ARR to reach a billion dollars in the next five to six years, focusing on execution and expanding its product portfolio [4][5] - The commercial banking segment has a Serviceable Available Market (SAM) of approximately $5 billion, with nCino holding a 50% market share among the top 30 banks in the U.S. [8][10] Product Portfolio and AI Integration - nCino has developed a broad and deep product portfolio, positioning itself as a leader in AI banking [5][6] - The company is at a technology inflection point with AI, which is expected to drive growth and enhance customer engagement [5][6] - The AI product roadmap is seen as a critical conversation starter, even if products are not yet fully deployed [7][6] Commercial Banking Strategy - nCino has secured significant contracts with major banks, including expansions with top 50 banks in the U.S. and a top five bank in Canada [9][12] - The company is focused on cross-selling opportunities within existing clients and expanding into new markets, including international regions like Spain [14][19] Retail and Consumer Banking - The consumer and mortgage segment has a SAM of about $10 billion, with nCino's consumer product still in early stages of development [19][20] - The company has made strides in consumer lending, achieving over 20 wins in Q4, including contracts with banks over $50 billion in assets [19][20] Business Model Transition - nCino is transitioning from a seat-based pricing model to an asset-based model, which went into effect on February 1, 2025 [60][62] - This new model is expected to streamline procurement processes for adding new products and services [86][87] Future Growth and Challenges - The company aims to achieve a "Rule of 40" by the fourth quarter of next year, balancing growth and profitability [102][110] - nCino sees significant opportunities in AI, credit unions, international markets, mortgage solutions, and onboarding processes [111][130] Competitive Landscape - The threat of banks developing custom software solutions is acknowledged, but nCino believes that most banks lack the resources to build and maintain such systems [30][36] - The company emphasizes the importance of its data assets and the ability to provide unique insights to clients [111] Additional Important Insights - nCino's focus on providing a unified platform for banks to manage commercial, consumer, and mortgage operations is seen as a key differentiator [20][22] - The company is excited about the potential of its AI capabilities to enhance operational efficiency and customer experience [40][42] - Strategic acquisitions in onboarding technology are expected to enhance nCino's offerings in commercial lending [131]