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nCino Reports Third Quarter Fiscal Year 2026 Financial Results
•Total Revenues of $152.2M, up 10% year-over-year
•Subscription Revenues of $133.4M, up 11% year-over-year
•GAAP Operating Margin of 8%, up over 800 basis points year-over-year
•Non-GAAP Operating Margin of 26%, up 600 basis points year-over-year
WILMINGTON, N.C., December 3, 2025 -- nCino, Inc. (NASDAQ: NCNO), the leading provider of intelligent, best-in-class banking solutions, today announced financial results for the third quarter of fiscal year 2026, ended October 31, 2025.
"I'm extremely proud of our team's strong execution in the third quarter, delivering results that exceeded expectations while advancing our AI leadership position," said Sean Desmond, CEO at nCino. "The momentum we're seeing across customer segments, geographies, and products reinforces our conviction in both our fiscal 2026 goals and the journey ahead for nCino. As we rapidly expand our AI capabilities and introduce Digital Partners trained on an industry leading data set, we're not just providing tools—we're delivering a comprehensive AI strategy that financial institutions can trust and deploy with confidence."
Financial Highlights
•Revenues: Total revenues for the third quarter of fiscal 2026 were $152.2 million, a 10% increase from $138.8 million in the third quarter of fiscal 2025. Subscription revenues for the third quarter were $133.4 million, up from $119.9 million one year ago, an increase of 11%.
•Income (Loss) from Operations: GAAP income (loss) from operations in the third quarter of fiscal 2026 was $11.7 million compared to $(0.8) million in the same quarter of fiscal 2025. Non-GAAP operating income in the third quarter of fiscal 2026 was $39.9 million compared to $28.0 million in the third quarter of fiscal 2025, an increase of 42%.
•Net Income (Loss) Attributable to nCino: GAAP net income (loss) attributable to nCino in the third quarter of fiscal 2026 was $6.5 million compared to $(5.3) million in the third quarter of fiscal 2025. Non-GAAP net income attributable to nCino in the third quarter of fiscal 2026 was $35.8 million compared to $24.1 million in the third quarter of fiscal 2025, an increase of 49%.
•Net Income (Loss) Attributable to nCino per Share: GAAP net income (loss) attributable to nCino in the third quarter of fiscal 2026 was $0.06 per diluted share compared to $(0.05) per basic and diluted share in the third quarter of fiscal 2025. Non-GAAP net income attributable to nCino in the third quarter of fiscal 2026 was $0.31 per diluted share compared to $0.20 per diluted share in the third quarter of fiscal 2025, an increase of 51%.
•Cash: Cash, cash equivalents, and restricted cash were $87.9 million as of October 31, 2025, and $203.5 million was outstanding under the Company's revolving credit facility. In the third quarter ended October 31, 2025, nCino repurchased approximately 1.4 million shares of the Company's outstanding common stock at an average share price of $27.71 for total consideration of approximately $39.7 million.





Recent Business Highlights
•Signed Regional Bank in Japan for Mortgage Lending: A Japanese bank with over $80 billion in assets is nCino's newest customer in the region.
•Integration Gateway Goes Global: nCino Integration Gateway demonstrates global applicability in expansion agreement with a $90 billion bank in the Czech Republic.
•Secured Significant Expansion Agreements: Two top-50 banks in the U.S., each with over $50 billion in assets, expanded their nCino commercial lending commitments by more than 30% and 60%, respectively, to support broader commercial lending operations.
•Top Home Builder Signs for nCino Mortgage: The lending division of a top home builder chose nCino Mortgage to deliver an exceptional mortgage lending experience for homebuyers.
•Launched Digital Partners: Announced first role-based AI agents trained on the complexities of rich financial services data-informed by nCino's more than thirteen years of industry expertise and one of the most comprehensive perspectives in financial technology.
•Completed Stock Repurchase Program: Completed its $100 million Stock Repurchase Program announced on April 1, 2025, having repurchased a total of approximately 4.0 million shares at an average price of $25.02 per share.

Financial Outlook
nCino is providing guidance for its fourth quarter ending January 31, 2026, as follows:
•Total revenues between $146.75 million and $148.25 million.
•Subscription revenues between $130.75 million and $132.25 million.
•Non-GAAP operating income between $32.5 million and $33.5 million.
•Non-GAAP net income attributable to nCino per diluted share of $0.21 to $0.22.
nCino is providing guidance for its fiscal year 2026 ending January 31, 2026, as follows:
•Total revenues between $591.9 million and $593.4 million.
•Subscription revenues between $520.5 million and $522.0 million.
•Non-GAAP operating income between $127.2 million and $128.2 million.
•Non-GAAP net income attributable to nCino per diluted share of $0.90 to $0.91.
•Annual Contract Value (ACV) between $564 million and $567 million.
Conference Call
nCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook. The conference call will be available via live webcast and replay at the Investor Relations section of nCino’s website: https://investor.ncino.com/news-events/events-and-presentations.






About nCino
nCino (NASDAQ: NCNO) is powering a new era in financial services. The Company was founded to help financial institutions digitize and reengineer business processes to boost efficiencies and create better banking experiences. With over 2,700 customers worldwide - including community banks, credit unions, independent mortgage banks, and the largest financial entities globally - nCino offers a trusted platform of best-in-class, intelligent solutions. By integrating artificial intelligence and actionable insights into its platform, nCino is helping financial institutions consolidate legacy systems to enhance strategic decision-making, improve risk management, and elevate customer satisfaction by cohesively bringing together people, AI and data. For more information, visit
www.ncino.com
.
INVESTOR CONTACT
Harrison Masters
Harrison.masters@ncino.com
MEDIA CONTACT 
press@ncino.com 

Forward-Looking Statements: This press release contains forward-looking statements about nCino's financial and operating results, which include statements regarding nCino’s future performance, outlook, guidance, the benefits from the use of nCino’s solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “aim,” “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “goal,” “intends,” “may,” “might,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “strive,” “will,” or “would” or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with acquisitions we have completed or may undertake, (iv) breaches in our security measures or unauthorized access to our customers’ or their clients' data; (v) the accuracy of management’s assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution, including in connection with our migration to an asset-based pricing model; (vii) competitive factors, including pricing pressures and migration to asset-based pricing, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (viii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively





including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses.

nCino, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
January 31, 2025October 31, 2025
(Unaudited)
Assets
Current assets
Cash and cash equivalents$120,928 $87,590 
Accounts receivable, net146,787 86,948 
Costs capitalized to obtain revenue contracts, current portion, net13,462 14,942 
Prepaid expenses and other current assets21,072 19,742 
Total current assets302,249 209,222 
Property and equipment, net74,953 76,335 
Operating lease right-of-use assets, net16,026 12,926 
Costs capitalized to obtain revenue contracts, noncurrent, net23,735 24,051 
Goodwill1,019,375 1,071,152 
Intangible assets, net154,571 142,841 
Investments9,294 7,262 
Long-term prepaid expenses and other assets10,178 17,385 
Total assets$1,610,381 $1,561,174 
Liabilities, redeemable non-controlling interest, and stockholders’ equity
Current liabilities
Accounts payable$13,640 $12,527 
Accrued expenses and other current liabilities39,865 37,536 
Deferred revenue, current portion191,174 152,065 
Financing obligations, current portion1,680 1,831 
Operating lease liabilities, current portion5,153 4,124 
Total current liabilities251,512 208,083 
Operating lease liabilities, noncurrent12,819 10,140 
Deferred income taxes, noncurrent13,851 18,016 
Deferred revenue, noncurrent269 121 
Revolving credit facility, noncurrent166,000 203,500 
Financing obligations, noncurrent51,172 49,776 
Other long-term liabilities17,160 17,615 
Total liabilities512,783 507,251 
Commitments and contingencies
Redeemable non-controlling interest8,286 12,435 
Stockholders’ equity
Common stock58 59 
Treasury stock, at cost— (100,343)
Additional paid-in capital1,474,413 1,526,923 
Accumulated other comprehensive income (loss)176 (760)
Accumulated deficit(385,335)(384,391)
Total stockholders’ equity1,089,312 1,041,488 
Total liabilities, redeemable non-controlling interest, and stockholders’ equity$1,610,381 $1,561,174 

nCino, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended October 31,Nine Months Ended October 31,
2024202520242025
Revenues
Subscription$119,894 $133,411 $344,211 $389,751 
Professional services and other18,903 18,752 55,076 55,364 
Total revenues138,797 152,163 399,287 445,115 
Cost of revenues
Subscription33,769 37,426 98,916 111,543 
Professional services and other19,976 21,051 59,940 65,319 
Total cost of revenues53,745 58,477 158,856 176,862 
Gross profit85,052 93,686 240,431 268,253 
Gross margin %61 %62 %60 %60 %
Operating expenses
Sales and marketing29,729 33,107 89,487 103,343 
Research and development33,039 29,541 97,291 97,549 
General and administrative23,108 19,322 66,046 66,454 
Total operating expenses85,876 81,970 252,824 267,346 
Income (loss) from operations(824)11,716 (12,393)907 
Non-operating income (expense)
Interest income482 339 1,408 1,269 
Interest expense(1,653)(4,335)(4,965)(13,229)
Other income (expense), net432 200 (162)17,014 
Income (loss) before income taxes(1,563)7,920 (16,112)5,961 
Income tax provision (benefit)2,589 (695)1,360 5,048 
Net income (loss)(4,152)8,615 (17,472)913 
Net loss attributable to redeemable non-controlling interest(186)(33)(409)(31)
Adjustment attributable to redeemable non-controlling interest1,286 2,109 2,205 4,100 
Net income (loss) attributable to nCino, Inc.$(5,252)$6,539 $(19,268)$(3,156)
Net income (loss) per share attributable to nCino, Inc.:
Basic$(0.05)$0.06 $(0.17)$(0.03)
Diluted$(0.05)$0.06 $(0.17)$(0.03)
Weighted average number of common shares outstanding:
Basic115,611,833 114,407,430 114,970,622 113,594,540 
Diluted115,611,833 115,830,218 114,970,622 113,594,540 

nCino, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended October 31,
20242025
Cash flows from operating activities
Net loss attributable to nCino, Inc.$(19,268)$(3,156)
Net loss and adjustment attributable to redeemable non-controlling interest1,796 4,069 
Net income (loss)(17,472)913 
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization26,132 31,998 
Non-cash operating lease costs3,844 3,123 
Amortization of costs capitalized to obtain revenue contracts8,724 11,024 
Amortization of debt issuance costs60 215 
Stock-based compensation53,015 52,681 
Change in fair value of contingent consideration— 400 
Deferred income taxes(2,496)2,579 
Provision for bad debt25 150 
Net foreign currency gains(658)(14,178)
Gains on investments— (1,652)
Loss on disposal of long-lived assets35 463 
Change in operating assets and liabilities:
Accounts receivable50,184 63,080 
Costs capitalized to obtain revenue contracts(13,199)(12,445)
Prepaid expenses and other assets656 1,482 
Accounts payable55 (897)
Accrued expenses and other liabilities(148)(12,807)
Deferred revenue(41,604)(46,066)
Operating lease liabilities(2,936)(3,134)
Other long term liabilities1,001 198 
Net cash provided by operating activities65,218 77,127 
Cash flows from investing activities
Acquisition of business, net of cash acquired(90,839)(50,263)
Acquisition of assets(450)— 
Purchases of property and equipment(1,466)(7,040)
Sale of investment— 3,684 
Net cash used in investing activities(92,755)(53,619)
Cash flows from financing activities
Repurchases of common stock— (100,080)
Proceeds from borrowings on revolving credit facility241,000 102,500 
Payments on revolving credit facility(75,000)(65,000)
Payments of debt issuance costs(1,382)— 
Exercise of stock options2,223 1,566 
Stock issuance under the employee stock purchase plan2,514 2,444 
Principal payments on financing obligations(916)(1,245)
Net cash provided by (used in) financing activities168,439 (59,815)
Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash(93)2,922 
Net increase (decrease) in cash, cash equivalents, and restricted cash140,809 (33,385)
Cash, cash equivalents, and restricted cash, beginning of period117,444 121,267 
Cash, cash equivalents, and restricted cash, end of period$258,253 $87,882 

nCino, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Reconciliation of cash, cash equivalents, and restricted cash, end of period:
Cash and cash equivalents$257,894 $87,590 
Restricted cash included in prepaid expenses and other current assets— 134 
Restricted cash included in long-term prepaid expenses and other assets359 158 
Total cash, cash equivalents, and restricted cash, end of period$258,253 $87,882 


Non-GAAP Financial Measures
In nCino’s public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures.

•Amortization of Purchased Intangibles. nCino incurs amortization expense for purchased intangible assets in connection with certain mergers and acquisitions. Because these costs have already been incurred, cannot be recovered, are non-cash, and are affected by the inherent subjective nature of purchase price allocations, nCino excludes these expenses for our internal management reporting processes. nCino’s management also finds it useful to exclude these charges when assessing the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Although nCino excludes amortization expense for purchased intangibles from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation.

•Stock-Based Compensation Expenses. nCino excludes stock-based compensation expenses primarily because they are non-cash expenses that nCino excludes from our internal management reporting processes. nCino’s management also finds it useful to exclude these expenses when they assess the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use, nCino believes excluding stock-based compensation expenses allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies.

•Acquisition-Related Expenses. nCino excludes expenses related to acquisitions as they limit comparability of operating results with prior periods. Acquisition-related expenses include but are not limited to: costs incurred from third-party professional services firms in connection with business combination and one-time integration activities. We believe these costs are non-recurring in nature and outside the ordinary course of business.

•Litigation Expenses. nCino excludes fees and expenses related to litigation expenses incurred from legal matters outside the ordinary course of our business as we believe their exclusion from non-GAAP operating expenses will facilitate a more meaningful explanation of operating results and comparisons with prior period results.

•Restructuring Costs. nCino excludes costs incurred related to bespoke restructuring plans and other one-time costs, if any, that are fundamentally different in strategic nature and frequency from ongoing initiatives. We believe excluding these costs facilitates a more consistent comparison of operating performance over time. Adjustments to stock-based compensation in connection with restructuring events, if any, are presented in Stock-Based Compensation Expenses.



•Intercompany Foreign Currency Exchange Gains/Losses. Beginning with the first quarter of fiscal 2026, nCino adjusts for foreign currency exchange gains and losses primarily from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity. We believe foreign currency gains and losses on intercompany loans and transactions is not indicative of our results and business outlook. Prior period amounts have been recast to reflect this change.

•Tax (Benefit) Provision Related to Acquisitions. Upon certain acquisitions, nCino may adjust the valuation allowance against deferred tax assets, resulting in a one-time tax benefit or provision recorded in income tax (benefit) provision. We believe that the exclusion of this benefit or provision from our non-GAAP net loss attributable to nCino and non-GAAP net loss attributable to nCino per share provides a more direct comparison to all periods presented.

•Income Tax Effect on Non-GAAP Adjustments. The income tax effects are related to the imputed tax impact on the difference between GAAP and non-GAAP costs and expenses.

•Adjustment to Redeemable Non-Controlling Interest. nCino adjusts the value of redeemable non-controlling interest of its joint venture nCino K.K. in accordance with the operating agreement for that entity. nCino believes investors benefit from an understanding of the company’s operating results absent the effect of this adjustment, and for comparability, has reconciled this adjustment for previously reported non-GAAP results.

There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino’s management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below.

nCino, Inc.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(In thousands, except share and per share data)
(Unaudited)

Three Months Ended October 31,Nine Months Ended October 31,
2024202520242025
GAAP total revenues$138,797 $152,163 $399,287 $445,115 
GAAP cost of subscription revenues$33,769 $37,426 $98,916 $111,543 
Amortization expense - developed technology(4,404)(5,111)(12,926)(15,301)
Stock-based compensation(733)(804)(2,088)(2,298)
Restructuring charges— — — (496)
Non-GAAP cost of subscription revenues$28,632 $31,511 $83,902 $93,448 
GAAP cost of professional services and other revenues$19,976 $21,051 $59,940 $65,319 
Amortization expense - other(82)— (247)(165)
Stock-based compensation(2,940)(3,230)(8,699)(9,299)
Restructuring charges— — — (722)
Non-GAAP cost of professional services and other revenues$16,954 $17,821 $50,994 $55,133 
GAAP gross profit$85,052 $93,686 $240,431 $268,253 
Amortization expense - developed technology4,404 5,111 12,926 15,301 
Amortization expense - other82 — 247 165 
Stock-based compensation3,673 4,034 10,787 11,597 
Restructuring charges— — — 1,218 
Non-GAAP gross profit$93,211 $102,831 $264,391 $296,534 
The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1
GAAP gross margin %61 %62 %60 %60 %
Amortization expense - developed technology3 3 3 3 
Amortization expense - other— — — — 
Stock-based compensation3 3 3 3 
Restructuring charges— — — — 
Non-GAAP gross margin %67 %68 %66 %67 %
GAAP sales & marketing expense$29,729 $33,107 $89,487 $103,343 
Amortization expense - customer relationships(2,736)(3,629)(7,889)(10,840)
Amortization expense - trade name(107)(383)(254)(1,191)
Amortization expense - other(28)(28)(72)(84)
Stock-based compensation(4,394)(4,008)(12,534)(10,682)
Acquisition-related expenses— — — (335)
Restructuring charges— (75)— (1,458)
Non-GAAP sales & marketing expense$22,464 $24,984 $68,738 $78,753 
GAAP research & development expense$33,039 $29,541 $97,291 $97,549 
Stock-based compensation(4,208)(4,096)(13,720)(11,896)
Acquisition-related expenses— (234)— (690)
Restructuring charges— — — (4,026)
Non-GAAP research & development expense$28,831 $25,211 $83,571 $80,937 

nCino, Inc.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(In thousands, except share and per share data)
(Unaudited)

Three Months Ended October 31,Nine Months Ended October 31,
2024202520242025
GAAP general & administrative expense$23,108 $19,322 $66,046 $66,454 
Stock-based compensation(5,696)(6,113)(15,974)(18,506)
Acquisition-related expenses(3,423)(443)(9,410)(2,376)
Litigation expenses(115)— (365)— 
Restructuring charges— 11 — (3,427)
Non-GAAP general & administrative expense$13,874 $12,777 $40,297 $42,145 
GAAP income (loss) from operations$(824)$11,716 $(12,393)$907 
Amortization of intangible assets7,357 9,151 21,388 27,581 
Stock-based compensation17,971 18,251 53,015 52,681 
Acquisition-related expenses3,423 677 9,410 3,401 
Litigation expenses115 — 365 — 
Restructuring charges— 64 — 10,129 
Non-GAAP operating income$28,042 $39,859 $71,785 $94,699 
The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1
GAAP operating margin %(1)%8 %(3)%— %
Amortization of intangible assets5 6 5 6 
Stock-based compensation13 12 13 12 
Acquisition-related expenses2 — 2 1 
Litigation expenses— — — — 
Restructuring charges— — — 2 
Non-GAAP operating margin %20 %26 %18 %21 %
GAAP net income (loss) attributable to nCino, Inc.$(5,252)$6,539 $(19,268)$(3,156)
Amortization of intangible assets7,357 9,151 21,388 27,581 
Stock-based compensation17,971 18,251 53,015 52,681 
Acquisition-related expenses3,423 677 9,410 3,401 
Litigation expenses115 — 365 — 
Restructuring charges— 64 — 10,129 
Intercompany foreign currency exchange (gain)/loss2
(640)(179)(74)(15,129)
Tax provision (benefit) related to acquisition— — (3,609)553 
Income tax effect on non-GAAP adjustments3
(198)(847)(961)(314)
Adjustment attributable to redeemable non-controlling interest1,286 2,109 2,205 4,100 
Non-GAAP net income attributable to nCino, Inc.$24,062 $35,765 $62,471 $79,846 

nCino, Inc.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES (CONTINUED)
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended October 31,Nine Months Ended October 31,
2024202520242025
Basic GAAP net income (loss) attributable to nCino, Inc. per share$(0.05)$0.06 $(0.17)$(0.03)
Weighted-average shares used to compute basic GAAP net income (loss) attributable to nCino, Inc. per share115,611,833 114,407,430 114,970,622 113,594,540 
Diluted GAAP net income (loss) attributable to nCino, Inc. per share$(0.05)$0.06 $(0.17)$(0.03)
Weighted-average shares used to compute diluted GAAP net income (loss) attributable to nCino, Inc. per share115,611,833 115,830,218 114,970,622 113,594,540 
Basic non-GAAP net income attributable to nCino, Inc. per share$0.21 $0.31 $0.54 $0.70 
Weighted-average shares used to compute basic non-GAAP net income attributable to nCino, Inc. per share115,611,833 114,407,430 114,970,622 113,594,540 
Diluted non-GAAP net income attributable to nCino, Inc. per share$0.20 $0.31 $0.53 $0.69 
Weighted-average shares used to compute diluted non-GAAP net income attributable to nCino, Inc. per share117,416,473 115,830,218 116,913,806 115,102,962 
Free cash flow
Net cash provided by operating activities$5,777 $5,071 $65,218 $77,127 
Purchases of property and equipment(680)(174)(1,466)(7,040)
Free cash flow$5,097 $4,897 $63,752 $70,087 
Principal payments on financing obligations4
(194)(421)(916)(1,245)
Free cash flow less principal payments on financing obligations$4,903 $4,476 $62,836 $68,842 
1Columns may not foot due to rounding.
2Effective the beginning of our first quarter for fiscal year 2026, we are excluding intercompany foreign currency exchange gains and losses from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity. Prior period amounts have been recast to reflect this change.
3Income tax adjustments for prior periods have been recast related to excluding intercompany foreign currency exchange gains and losses related to intercompany loans and transactions from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity as stated in the note above.
4These amounts represent the non-interest component of payments towards financing obligations for facilities.