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., Dec. 03, 2025 (GLOBE NEWSWIRE) -- 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 CallnCino 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 nCinonCino (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
MEDIA
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, 2025
October 31, 2025
(Unaudited)
Assets
Current assets
Cash and cash equivalents
$
120,928
$
87,590
Accounts receivable, net
146,787
86,948
Costs capitalized to obtain revenue contracts, current portion, net
13,462
14,942
Prepaid expenses and other current assets
21,072
19,742
Total current assets
302,249
209,222
Property and equipment, net
74,953
76,335
Operating lease right-of-use assets, net
16,026
12,926
Costs capitalized to obtain revenue contracts, noncurrent, net
23,735
24,051
Goodwill
1,019,375
1,071,152
Intangible assets, net
154,571
142,841
Investments
9,294
7,262
Long-term prepaid expenses and other assets
10,178
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 liabilities
39,865
37,536
Deferred revenue, current portion
191,174
152,065
Financing obligations, current portion
1,680
1,831
Operating lease liabilities, current portion
5,153
4,124
Total current liabilities
251,512
208,083
Operating lease liabilities, noncurrent
12,819
10,140
Deferred income taxes, noncurrent
13,851
18,016
Deferred revenue, noncurrent
269
121
Revolving credit facility, noncurrent
166,000
203,500
Financing obligations, noncurrent
51,172
49,776
Other long-term liabilities
17,160
17,615
Total liabilities
512,783
507,251
Commitments and contingencies
Redeemable non-controlling interest
8,286
12,435
Stockholders' equity
Common stock
58
59
Treasury stock, at cost
—
(100,343
)
Additional paid-in capital
1,474,413
1,526,923
Accumulated other comprehensive income (loss)
176
(760
)
Accumulated deficit
(385,335
)
(384,391
)
Total stockholders' equity
1,089,312
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,
2024
2025
2024
2025
Revenues
Subscription
$
119,894
$
133,411
$
344,211
$
389,751
Professional services and other
18,903
18,752
55,076
55,364
Total revenues
138,797
152,163
399,287
445,115
Cost of revenues
Subscription
33,769
37,426
98,916
111,543
Professional services and other
19,976
21,051
59,940
65,319
Total cost of revenues
53,745
58,477
158,856
176,862
Gross profit
85,052
93,686
240,431
268,253
Gross margin %
61
%
62
%
60
%
60
%
Operating expenses
Sales and marketing
29,729
33,107
89,487
103,343
Research and development
33,039
29,541
97,291
97,549
General and administrative
23,108
19,322
66,046
66,454
Total operating expenses
85,876
81,970
252,824
267,346
Income (loss) from operations
(824
)
11,716
(12,393
)
907
Non-operating income (expense)
Interest income
482
339
1,408
1,269
Interest expense
(1,653
)
(4,335
)
(4,965
)
(13,229
)
Other income (expense), net
432
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 interest
1,286
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.:
