nCino, Inc. SEC 10-Q Report

nCino, Inc., a leading provider of cloud-based banking solutions, has released its latest Form 10-Q report, showcasing significant improvements in both financial and operational performance for the three months ended April 30, 2025. The report highlights the company's continued growth in revenue, improved profitability, and strategic business initiatives aimed at enhancing its market position.

Financial Highlights

• Total Revenues: $144.1 million, representing a 12.5% increase from the same period last year.
• Gross Profit: $86.4 million, reflecting improved efficiency and cost management.
• Loss from Operations: $(1.5) million, showing a reduction in operating losses compared to the previous year.
• Net Income: $6.0 million, a significant improvement from a net loss of $(2.3) million in the prior year.
• Net Income (Loss) Per Share - Basic: $0.05, compared to $(0.03) in the previous year, indicating improved profitability.
• Net Income (Loss) Per Share - Diluted: $0.05, compared to $(0.03) in the previous year, reflecting the company's positive financial performance.

Business Highlights

• Revenue Segments: The company reported a 12.5% increase in total revenues for the three months ended April 30, 2025, with subscription revenues increasing by 13.8%. The total subscription revenues include contributions from recent acquisitions such as DocFox, ILT, FullCircl, and Sandbox Banking, which collectively added $7.4 million.
• Geographical Performance: Revenue from the United States increased to $112.6 million, while international revenues rose to $31.6 million. The United Kingdom showed significant growth, with revenues increasing to $17.9 million.
• Sales Units: As of April 30, 2025, the company had 191 sales and sales support personnel in the U.S. and 123 in offices outside the U.S., indicating a strong sales force presence to support its operations.
• New Product Launches: The acquisition of Sandbox Banking enhances the company's data connectivity capabilities, providing an industry-leading Integration Platform as a Service (iPaaS) solution.
• Future Outlook: The company announced a workforce reduction of approximately 7% and office space reductions in certain markets to improve operational efficiencies. This restructuring is expected to incur charges of approximately $7.5 to $9.0 million in the second quarter of fiscal 2026.

SEC Filing: nCino, Inc. [ NCNO ] - 10-Q - May. 28, 2025