nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital
transformation solutions for the global financial services
industry, today announced financial results for its fiscal second
quarter ended July 31, 2020.
“I am very pleased nCino posted record results for our
first quarter as a public company,” said Pierre Naudé, CEO of
nCino. “Since day one, nCino’s mission has been to transform the
financial services industry through innovation, reputation and
speed. The global pandemic has only accelerated the need for
digital transformation, and we see increasing momentum and appetite
for cloud-based solutions. The nCino Bank Operating System has
allowed our customers to seamlessly shift to a remote work
environment, with bank employees remaining productive and
efficient, while also serving their clients digitally no matter
where they are. We believe the digital transformation of
banking has become an imperative, and we are proud to partner with
financial institutions of all sizes and complexities around the
globe to help them grow and serve their clients and communities in
today’s evolving landscape.”
Financial Highlights
- Revenues: Total revenues for the second
quarter were $48.8 million, a 52% increase from $32.0 million in
the second quarter of fiscal 2020. Subscription revenues for
the second quarter were $39.4 million, up from $23.1 million one
year ago, an increase of 70% year-over-year.
- Loss from Operations: GAAP loss from
operations was ($15.7) million compared to ($7.9) million in the
second quarter of fiscal 2020. Non-GAAP operating loss was ($1.6)
million compared to ($5.3) million in the second quarter of fiscal
2020.
- Net Loss Attributable to nCino: GAAP net loss
attributable to nCino was ($14.6) million compared to ($8.5)
million in the second quarter of fiscal 2020. Non-GAAP net loss
attributable to nCino was ($581) thousand compared to ($5.8)
million in the second quarter of fiscal 2020.
- Net Loss Attributable to nCino per Share: GAAP
net loss attributable to nCino was ($0.17) per share compared to
($0.11) per share in the second quarter of fiscal 2020. Non-GAAP
net loss attributable to nCino was ($0.01) per share compared to
($0.08) per share in the second quarter of fiscal 2020.
- Cash: Cash and cash equivalents were $388.2
million as of July 31, 2020.
Business Highlights
- Listed its shares on Nasdaq on July 14, 2020 and closed its
initial public offering on July 16, 2020.
- Signed an expansion for its Onboarding solution with a $1.9
trillion global bank and supported this bank’s lending initiatives
pursuant to the Coronavirus Business Interruption Loan Scheme
(CBILS) in the UK.
- Signed a $450 billion global bank for its Collateral Management
solution.
- Took a $145 billion U.S. agriculture lender live with its
Commercial Lending solution.
- Went live in three countries with a $67 billion global bank
with its Commercial Lending solution.
- 32 financial institutions purchased seats to manage the loan
Forgiveness portion of the Paycheck Protection Program (PPP) under
the CARES Act, including 10 new customers, two with over $25
billion in assets, and an expansion within a top 10 U.S. Bank.
In total, 87 institutions contracted with nCino for PPP and
Forgiveness in the first half of fiscal 2021, including 45 banks
with over $5 billion in assets.
- Aite Group named the nCino Bank Operating System® a
Best-in-Class Retail Loan Origination System in the analyst firm’s
Aite Matrix in August.
Financial OutlooknCino is providing guidance
for its fiscal third quarter ending October 31, 2020 as
follows:
- Total revenues between $49 and $50 million.
- Non-GAAP operating loss between ($8) and ($9) million.
- Non-GAAP net loss attributable to nCino per share of ($0.09) to
($0.10).
nCino is providing guidance for its fiscal year 2021 ending
January 31, 2021 as follows:
- Total revenues between $193 and $194 million.
- Non-GAAP operating loss between ($22) and ($23) million.
- Non-GAAP net loss attributable to nCino per share of ($0.25) to
($0.26).
Conference CallnCino will host a conference
call at 4:30 p.m. ET today to discuss its financial results and
outlook with the investment community. 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 the
worldwide leader in cloud banking. The nCino Bank Operating
System® empowers financial institutions with scalable
technology to help them achieve revenue growth, greater efficiency,
cost savings and regulatory compliance. In a digital-first world,
nCino's single digital platform enhances the employee and client
experience to enable financial institutions to more effectively
onboard new clients, make loans and manage the entire loan life
cycle, and open deposit and other accounts across
lines of business and channels. Transforming how financial
institutions operate through innovation, reputation and speed,
nCino works with more than 1,100 financial institutions globally,
whose assets range in size from $30 million to more than $2
trillion. For more information, visit: www.ncino.com.
Forward-Looking StatementsThis press release
contains forward-looking statements about nCino's financial and
operating results, which include statements regarding nCino’s
future performance, outlook, and guidance, the assumptions
underlying those statements, 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 “believes,” “expects,” “intends,” “anticipates,”
“plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,”
“might,” or “continues” 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: (i) risks associated with the impact of the
COVID-19 pandemic, including the impact to the financial services
industry, the impact on general economic conditions and the impact
of government responses, restrictions, and actions; (ii) breaches
in our security measures or unauthorized access to our customers’
or their clients' data; (iii) the accuracy of management’s
assumptions and estimates; (iv) our ability to attract new
customers and succeed in having current customers expand their use
of our solution; (v) competitive factors, including pricing
pressures, 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;
(vi) 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; (vii) fluctuation of our results of
operations, which may make period-to-period comparisons less
meaningful; (viii) our ability to manage our growth effectively
including expanding outside of the United States; (ix) adverse
changes in our relationship with Salesforce; (x) our ability to
successfully acquire new companies and/or integrate acquisitions
into our existing organization; (xi) 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; (xii) 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; (xiii) our ability to maintain our
corporate culture and attract and retain highly skilled employees;
(xiv) adverse changes in the financial services industry, including
as a result of customer consolidation; (xv) adverse changes in
economic, regulatory, or market conditions; and (xvi) threatened or
future legal proceedings and related expenses.
Additional risks and uncertainties that could affect nCino’s
business and financial results are included in our reports filed
with the U.S. Securities and Exchange Commission (available on our
web site at www.ncino.com or the SEC's web site at
www.sec.gov). Further information on potential risks that could
affect actual results will be included in other filings nCino makes
with the SEC from time to time.
nCino, Inc.CONDENSED
CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited)
|
|
|
|
|
January 31, 2020 |
|
July 31, 2020 |
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
$ |
91,184 |
|
|
$ |
388,191 |
|
Accounts receivable, net |
34,205 |
|
|
30,228 |
|
Accounts receivable, related parties |
9,201 |
|
|
— |
|
Costs capitalized to obtain revenue contracts, current portion,
net |
3,608 |
|
|
4,007 |
|
Prepaid expenses and other current assets |
7,079 |
|
|
7,152 |
|
Total current assets |
145,277 |
|
|
429,578 |
|
Property and equipment, net |
13,477 |
|
|
14,591 |
|
Costs capitalized to obtain revenue contracts, noncurrent, net |
7,000 |
|
|
7,817 |
|
Goodwill |
55,840 |
|
|
56,527 |
|
Intangible assets, net |
26,093 |
|
|
24,636 |
|
Other long-term assets |
2,464 |
|
|
650 |
|
Total assets |
$ |
250,151 |
|
|
$ |
533,799 |
|
Liabilities,
Redeemable Non-Controlling Interest, and Stockholders’
Equity |
|
|
|
Current Liabilities |
|
|
|
Accounts payable |
$ |
1,258 |
|
|
$ |
2,188 |
|
Accounts payable, related parties |
3,408 |
|
|
4,018 |
|
Accrued commissions |
7,862 |
|
|
4,701 |
|
Other accrued expenses |
4,922 |
|
|
4,820 |
|
Deferred rent, current portion |
183 |
|
|
208 |
|
Deferred revenue, current portion |
50,929 |
|
|
84,288 |
|
Deferred revenue, current portion, related parties |
8,013 |
|
|
— |
|
Total current liabilities |
76,575 |
|
|
100,223 |
|
Deferred income taxes, noncurrent |
194 |
|
|
234 |
|
Deferred rent, noncurrent |
1,558 |
|
|
1,468 |
|
Other long-term liabilities |
195 |
|
|
— |
|
Total liabilities |
78,522 |
|
|
101,925 |
|
Commitments and
Contingencies |
|
|
|
Redeemable non-controlling
interest |
4,356 |
|
|
4,384 |
|
Stockholders’ Equity |
|
|
|
Common stock |
41 |
|
|
46 |
|
Additional paid-in capital |
288,564 |
|
|
567,314 |
|
Accumulated other comprehensive (loss) income |
(408 |
) |
|
202 |
|
Accumulated deficit |
(120,924 |
) |
|
(140,072 |
) |
Total stockholders’ equity |
167,273 |
|
|
427,490 |
|
Total liabilities, redeemable non-controlling interest, and
stockholders’ equity |
$ |
250,151 |
|
|
$ |
533,799 |
|
|
nCino, Inc.CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except
share and per share data)(Unaudited)
|
|
Three Months Ended July 31, |
|
Six Months Ended July 31, |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
Revenues |
|
|
|
|
|
|
|
Subscription |
$ |
23,110 |
|
|
$ |
39,351 |
|
|
$ |
44,142 |
|
|
$ |
74,182 |
|
Professional services |
8,868 |
|
|
9,414 |
|
|
17,672 |
|
|
19,295 |
|
Total revenues |
31,978 |
|
|
48,765 |
|
|
61,814 |
|
|
93,477 |
|
Cost of
Revenues1 |
|
|
|
|
|
|
|
Subscription |
7,083 |
|
|
11,920 |
|
|
13,585 |
|
|
22,019 |
|
Professional services |
7,687 |
|
|
10,667 |
|
|
15,223 |
|
|
19,434 |
|
Total cost of revenues |
14,770 |
|
|
22,587 |
|
|
28,808 |
|
|
41,453 |
|
Gross profit |
17,208 |
|
|
26,178 |
|
|
33,006 |
|
|
52,024 |
|
Gross Margin % |
54 |
% |
|
54 |
% |
|
53 |
% |
|
56 |
% |
Operating
Expenses |
|
|
|
|
|
|
|
Sales and marketing1 |
10,453 |
|
|
15,626 |
|
|
18,468 |
|
|
27,852 |
|
Research and development1 |
8,272 |
|
|
15,292 |
|
|
15,638 |
|
|
26,257 |
|
General and administrative1 |
6,430 |
|
|
10,953 |
|
|
10,339 |
|
|
17,879 |
|
Total operating expenses |
25,155 |
|
|
41,871 |
|
|
44,445 |
|
|
71,988 |
|
Loss from operations |
(7,947 |
) |
|
(15,693 |
) |
|
(11,439 |
) |
|
(19,964 |
) |
Non-operating Income
(Expense) |
|
|
|
|
|
|
|
Interest income |
265 |
|
|
55 |
|
|
583 |
|
|
211 |
|
Other |
(618 |
) |
|
1,117 |
|
|
(727 |
) |
|
597 |
|
Loss before income tax expense |
(8,300 |
) |
|
(14,521 |
) |
|
(11,583 |
) |
|
(19,156 |
) |
Income tax expense |
202 |
|
|
203 |
|
|
338 |
|
|
400 |
|
Net loss |
(8,502 |
) |
|
(14,724 |
) |
|
(11,921 |
) |
|
(19,556 |
) |
Net loss attributable to redeemable non-controlling interest |
— |
|
|
(232 |
) |
|
— |
|
|
(408 |
) |
Adjustment attributable to redeemable non-controlling interest |
— |
|
|
154 |
|
|
— |
|
|
267 |
|
Net loss attributable to nCino, Inc. |
$ |
(8,502 |
) |
|
$ |
(14,646 |
) |
|
$ |
(11,921 |
) |
|
$ |
(19,415 |
) |
Net loss per share
attributable to nCino, Inc.: |
|
|
|
|
|
|
|
Basic and diluted |
$ |
(0.11 |
) |
|
$ |
(0.17 |
) |
|
$ |
(0.16 |
) |
|
$ |
(0.23 |
) |
Weighted average
number of common shares outstanding: |
|
|
|
|
|
|
|
Basic and diluted |
76,420,098 |
|
|
84,629,777 |
|
|
76,206,900 |
|
|
83,112,132 |
|
|
1Includes stock-based compensation expense as follows:
|
|
|
|
|
Three Months Ended July 31, |
|
Six Months Ended July 31, |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
Cost of revenues |
$ |
371 |
|
|
$ |
2,524 |
|
|
$ |
760 |
|
|
$ |
2,851 |
|
Sales and marketing |
315 |
|
|
3,346 |
|
|
607 |
|
|
3,661 |
|
Research and development |
305 |
|
|
3,031 |
|
|
611 |
|
|
3,340 |
|
General and administrative |
1,501 |
|
|
4,368 |
|
|
1,623 |
|
|
4,468 |
|
Total stock-based compensation
expense |
$ |
2,492 |
|
|
$ |
13,269 |
|
|
$ |
3,601 |
|
|
$ |
14,320 |
|
|
nCino, Inc.CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS(In
thousands)(Unaudited)
|
|
|
Six Months Ended July 31, |
|
2019 |
|
2020 |
Cash Flows from Operating
Activities |
|
|
|
Net loss attributable to nCino, Inc. |
$ |
(11,921 |
) |
|
$ |
(19,415 |
) |
Net loss and adjustment attributable to redeemable non-controlling
interest |
— |
|
|
(141 |
) |
Net loss |
(11,921 |
) |
|
(19,556 |
) |
Adjustments to reconcile net loss to net cash provided by operating
activities: |
|
|
|
Depreciation and amortization |
1,451 |
|
|
3,500 |
|
Amortization of costs capitalized to obtain revenue contracts |
1,532 |
|
|
2,430 |
|
Stock-based compensation |
3,601 |
|
|
14,320 |
|
Deferred income taxes |
76 |
|
|
40 |
|
Provision for (recovery of) bad debt |
(105 |
) |
|
619 |
|
Change in operating assets and liabilities: |
|
|
|
Accounts receivable |
38 |
|
|
3,365 |
|
Accounts receivable, related parties |
4,178 |
|
|
9,201 |
|
Costs capitalized to obtain revenue contracts |
(1,836 |
) |
|
(3,615 |
) |
Prepaid expenses and other assets |
(131 |
) |
|
(13 |
) |
Accounts payable and accrued expenses and other liabilities |
(2,085 |
) |
|
(4,115 |
) |
Accounts payable, related parties |
453 |
|
|
620 |
|
Deferred rent |
1,066 |
|
|
(65 |
) |
Deferred revenues |
18,173 |
|
|
33,188 |
|
Deferred revenues, related parties |
(3,783 |
) |
|
(8,013 |
) |
Net cash provided by operating activities |
10,707 |
|
|
31,906 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of business, net of cash acquired |
(48,219 |
) |
|
— |
|
Purchases of property and equipment |
(2,624 |
) |
|
(2,936 |
) |
Net cash used in investing activities |
(50,843 |
) |
|
(2,936 |
) |
Cash Flows from Financing Activities |
|
|
|
Proceeds from initial public offering, net of underwriting
discounts and commissions |
— |
|
|
268,375 |
|
Payments of costs related to initial public offering |
— |
|
|
(1,345 |
) |
Exercise of stock options |
537 |
|
|
861 |
|
Net cash provided by financing activities |
537 |
|
|
267,891 |
|
Effect of foreign currency exchange rate changes on cash and cash
equivalents |
534 |
|
|
146 |
|
Net (decrease) increase in cash and cash
equivalents |
(39,065 |
) |
|
297,007 |
|
Cash and Cash Equivalents, beginning of period |
74,347 |
|
|
91,184 |
|
Cash and Cash Equivalents, end of period |
$ |
35,282 |
|
|
$ |
388,191 |
|
|
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.
- 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.
- Amortization of Purchased Intangibles. nCino incurs
amortization expense for purchased intangible assets in connection
with acquisitions of certain businesses and technologies. 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.
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 July 31, |
|
Six Months Ended July 31, |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
GAAP gross profit |
$ |
17,208 |
|
|
$ |
26,178 |
|
|
$ |
33,006 |
|
|
$ |
52,024 |
|
Amortization expense - developed technology |
60 |
|
|
378 |
|
|
60 |
|
|
747 |
|
Stock-based compensation |
371 |
|
|
2,524 |
|
|
760 |
|
|
2,851 |
|
Non-GAAP gross
profit |
$ |
17,639 |
|
|
$ |
29,080 |
|
|
$ |
33,826 |
|
|
$ |
55,622 |
|
Non-GAAP gross margin % |
55 |
% |
|
60 |
% |
|
55 |
% |
|
60 |
% |
|
|
|
|
|
|
|
|
GAAP sales &
marketing expense |
$ |
10,453 |
|
|
$ |
15,626 |
|
|
$ |
18,468 |
|
|
$ |
27,852 |
|
Amortization expense - customer relationships |
(105 |
) |
|
(418 |
) |
|
(105 |
) |
|
(835 |
) |
Stock-based compensation |
(315 |
) |
|
(3,346 |
) |
|
(607 |
) |
|
(3,661 |
) |
Non-GAAP sales &
marketing expense |
$ |
10,033 |
|
|
$ |
11,862 |
|
|
$ |
17,756 |
|
|
$ |
23,356 |
|
|
|
|
|
|
|
|
|
GAAP research &
development expense |
$ |
8,272 |
|
|
$ |
15,292 |
|
|
$ |
15,638 |
|
|
$ |
26,257 |
|
Amortization |
— |
|
|
— |
|
|
— |
|
|
— |
|
Stock-based compensation |
(305 |
) |
|
(3,031 |
) |
|
(611 |
) |
|
(3,340 |
) |
Non-GAAP research
& development expense |
$ |
7,967 |
|
|
$ |
12,261 |
|
|
$ |
15,027 |
|
|
$ |
22,917 |
|
|
|
|
|
|
|
|
|
GAAP general &
administrative expense |
$ |
6,430 |
|
|
$ |
10,953 |
|
|
$ |
10,339 |
|
|
$ |
17,879 |
|
Amortization expense - trademarks |
(12 |
) |
|
— |
|
|
(12 |
) |
|
(10 |
) |
Stock-based compensation |
(1,501 |
) |
|
(4,368 |
) |
|
(1,623 |
) |
|
(4,468 |
) |
Non-GAAP general &
administrative expense |
$ |
4,917 |
|
|
$ |
6,585 |
|
|
$ |
8,704 |
|
|
$ |
13,401 |
|
|
|
|
|
|
|
|
|
GAAP loss from
operations |
$ |
(7,947 |
) |
|
$ |
(15,693 |
) |
|
$ |
(11,439 |
) |
|
$ |
(19,964 |
) |
Amortization expense - developed technology |
60 |
|
|
378 |
|
|
60 |
|
|
747 |
|
Amortization expense - customer relationships |
105 |
|
|
418 |
|
|
105 |
|
|
835 |
|
Amortization expense - trademarks |
12 |
|
|
— |
|
|
12 |
|
|
10 |
|
Stock-based compensation |
$ |
2,492 |
|
|
$ |
13,269 |
|
|
$ |
3,601 |
|
|
$ |
14,320 |
|
Non-GAAP operating
loss |
$ |
(5,278 |
) |
|
$ |
(1,628 |
) |
|
$ |
(7,661 |
) |
|
$ |
(4,052 |
) |
Non-GAAP operating margin |
(17 |
)% |
|
(3 |
)% |
|
(12 |
)% |
|
(4 |
)% |
|
|
|
|
|
|
|
|
GAAP net loss
attributable to nCino |
$ |
(8,502 |
) |
|
$ |
(14,646 |
) |
|
$ |
(11,921 |
) |
|
$ |
(19,415 |
) |
Amortization expense - developed technology |
60 |
|
|
378 |
|
|
60 |
|
|
747 |
|
Amortization expense - customer relationships |
105 |
|
|
418 |
|
|
105 |
|
|
835 |
|
Amortization expense - trademarks |
12 |
|
|
— |
|
|
12 |
|
|
10 |
|
Stock-based compensation |
$ |
2,492 |
|
|
$ |
13,269 |
|
|
$ |
3,601 |
|
|
$ |
14,320 |
|
Non-GAAP net loss
attributable to nCino |
$ |
(5,833 |
) |
|
$ |
(581 |
) |
|
$ |
(8,143 |
) |
|
$ |
(3,503 |
) |
|
|
|
|
|
|
|
|
Weighted-average
shares used to compute net loss per share, basic and
diluted |
76,420,098 |
|
|
84,629,777 |
|
|
76,206,900 |
|
|
83,112,132 |
|
|
|
|
|
|
|
|
|
GAAP net loss
attributable to nCino per share |
$ |
(0.11 |
) |
|
$ |
(0.17 |
) |
|
$ |
(0.16 |
) |
|
$ |
(0.23 |
) |
Non-GAAP net loss
attributable to nCino per share |
$ |
(0.08 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.04 |
) |
|
|
|
|
|
|
|
|
Free Cash
Flow |
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
5,838 |
|
|
$ |
23,477 |
|
|
$ |
10,707 |
|
|
$ |
31,906 |
|
Purchases of property and equipment |
(2,072 |
) |
|
(1,861 |
) |
|
(2,624 |
) |
|
(2,936 |
) |
Free cash
flow |
$ |
3,766 |
|
|
$ |
21,616 |
|
|
$ |
8,083 |
|
|
$ |
28,970 |
|
|
CONTACTS
INVESTOR CONTACT |
|
JoAnn Horne |
|
Market Street Partners |
|
+1 415.445.3240 |
|
jhorne@marketstreetpartners.com |
|
|
|
MEDIA CONTACTS |
|
Claire Sandstrom |
Natalia Moose, nCino |
+1 646.520.0710 |
+1 910.248.4602 |
csandstrom@mww.com |
natalia.moose@ncino.com |
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