nCino Reports First Quarter Fiscal Year 2026 Financial Results

nCino, Inc., a leading provider of intelligent banking solutions, has released its financial results for the first quarter of fiscal year 2026, ending April 30, 2025. The company reported a strong performance, with total revenues reaching $144.1 million, marking a 13% increase year-over-year. Subscription revenues also saw a significant rise, up 14% to $125.6 million.

Financial Highlights

nCino's financial results for the first quarter of fiscal 2026 show a notable improvement compared to the same period last year. The company reported a GAAP loss from operations of $(1.5) million, a significant improvement from the $(3.7) million loss in the first quarter of fiscal 2025. Non-GAAP operating income was $24.8 million, up 2% from $24.4 million in the previous year. GAAP net income attributable to nCino was $5.6 million, compared to a loss of $(3.0) million in the first quarter of fiscal 2025. Non-GAAP net income was $18.4 million, down from $22.8 million in the same period last year.

Business and Operational Highlights

nCino has made significant strides in expanding its business and enhancing its platform capabilities. The company signed a multi-solution expansion agreement with a $25 billion AUM bank in the U.S., completed the rollout of its Commercial Lending solution for a top-5 U.S. bank, and was selected by San ju San Bank in Japan for mortgage lending digitization. Additionally, nCino benefited from expansion opportunities brought about by customer M&A activities and hosted its annual conference, nSight 2025, which saw over 1,600 attendees.

Strategic Initiatives and Corporate Developments

During the first quarter, nCino repurchased approximately 1.8 million shares of its outstanding common stock at an average share price of $22.17, totaling $40.6 million. The company also established the nCino Research Institute (nRI) to offer economic trends analysis and banking benchmark data to its customers.

Management's Perspective

Sean Desmond, CEO of nCino, highlighted the company's strong execution and ability to deliver value for shareholders and customers. He emphasized the advancements in key platform capabilities and the acceleration of the company's AI strategy to enhance banking workflows and customer experiences.

Future Outlook

nCino provided guidance for the second quarter ending July 31, 2025, with total revenues expected to be between $142.0 million and $144.0 million, and subscription revenues between $124.5 million and $126.5 million. For the fiscal year 2026 ending January 31, 2026, the company expects total revenues between $578.5 million and $582.5 million, and subscription revenues between $507.0 million and $511.0 million. Non-GAAP operating income is projected to be between $112.0 million and $116.0 million, with non-GAAP net income per diluted share of $0.69 to $0.72.

SEC Filing: nCino, Inc. [ NCNO ] - 8-K - May. 28, 2025