📈 Price History

Ratio Health

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📊 Peer Medians

About

nCino, Inc., a software-as-a-service company, provides software solutions to financial institutions in the United States, the United Kingdom, and internationally. It offers solutions on the nCino Platform, including an Onboarding solution that streamlines and enhances the customer onboarding process through a digital platform for credit and non-credit onboarding, commercial account opening, and enterprise-level onboarding; and an Account Opening solution, which includes a Deposit Account Opening solution for consumers and small businesses. The company also provides Lending, which provides a loan origination platform for commercial, consumer, small business, and mortgage lending, such as the Commercial Loan Origination System that automates the loan lifecycle; Consumer Lending solution, which offers an omnichannel solution with automated credit decisioning and integrations; and Small Business Loan Origination solution for automation and machine learning. In addition, it offers Credit Monitoring, manages credit risks, monitors performance, and uncovers growth opportunities through a data-driven platform; Portfolio Analytics solution, which offers customizable dashboards to track loan, deposit, and application data; and Integration & Intelligence, provides integration capabilities to connect core banking systems, fintech applications, and third-party services via open APIs and a partner marketplace. The company serves global, enterprise, regional, and community banks, credit unions, challenger banks, and independent mortgage banks, business development managers, account executives, field sales engineers, and customer success managers. nCino, Inc. was founded in 2011 and is headquartered in Wilmington, North Carolina.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding NCNO

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	1.05M	$15.8M	0.02%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2026

Confident Specific

Management repeatedly stated they 'outperformed guidance', 'solid execution', and used specific numbers like 12% revenue growth, 15% subscription growth, and 80+ Banking Advisor customers. They described the deal activity level as 'not seen in quite some time' and the macro as 'more supportive'.

Q3 2026

Confident Specific

Management repeatedly stresses strong execution, cites specific customer outcome metrics (e.g., 86% duplicate data elimination, 91% faster decisions), and uses language like 'extremely proud', 'tremendous confidence', 'feeling a bit of a halo effect'. Greg Orenstein details exact revenue beats ($1.4M execution-based) and margin expansion figures.

Q4 2026

Confident Specific

Management repeatedly emphasised exceeding guidance on all key metrics, ACV up 17% YoY, AI adoption surging (usage up 25x). Language is fact-rich and forward-looking with specific data points (e.g., 38% of ACV on new pricing, 112% NRR).

Q1 2027 latest

Confident Specific

Management repeatedly used strong, concrete language: 'great start', 'outperforming guidance', 'achieving the Rule of 40', 'record gross bookings', '38 times increase in Banking Advisor usage'. Specific metrics were cited for AI adoption, cost efficiencies, and customer outcomes.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears strengthened after this call. nCino delivered a rule-of-40 quarter with accelerating subscription revenue and expanding margins, while simultaneously building an AI monetization engine (Intelligence Units) that is showing early adoption and consumption growth. The company provided concrete evidence of AI-driven efficiency gains internally (57% of code written with AI, 40% compression in pro services hours) and for customers (38x usage growth, first customers exhausting token bundles). Guidance raises across revenue, operating income, and free cash flow demonstrate confidence in execution. However, management explicitly kept AI revenue out of FY27 guidance, indicating that material IU monetization is a story for FY28 and beyond. Key items to watch next quarter: continued IU adoption and repeat token purchases, progression of new platform pricing transitions beyond 40% of ACV, and whether international subscription acceleration persists. Overall, the thesis is stronger given the balance of growth and profitability, but investors will need patience for AI-related revenue contribution.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED nCino achieves Rule of 40 in Q1 FY2027 with 12% subscription revenue growth and 28% margins

Revenue & Profitability

Total revenues: $159.4 million (+11% YoY). Subscription revenues: $140.9 million (+12% YoY). Non-GAAP operating income: $44.5 million (28% margin, up 79% YoY). Free cash flow: $80.8 million (up 54% YoY). Professional services revenues: $18.5 million (flat YoY). U.S. mortgage subscription revenues: $19.7 million (+4% YoY).

Outlook

Management sees strong demand for AI in banking as every financial institution seeks efficiency through AI. However, elevated mortgage rates are a headwind for the U.S. mortgage business (forecast -2% YoY subscription growth in Q2). For FY2027, guidance includes total revenues of $642-646 million, subscription revenues of $571.5-575.5 million, non-GAAP operating income of $166-171 million, and free cash flow of $135-140 million.

Growth Drivers

Key growth drivers include AI adoption via Banking Advisor and Intelligence Units (usage up 38x since October), international expansion (Europe, Japan, Southeast Asia), credit union market penetration, and the new platform pricing model (over 40% of ACV transitioned). First customers have reached their initial Intelligence Unit bundle limits, signaling potential for expansion revenue.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Non-GAAP operating margin reached 28% in Q1, achieving Rule of 40 (subscription growth + margin). Professional services gross margin improved to 10% (up 1,100 bps YoY) due to AI-driven efficiencies. Management expects to maintain Rule of 40 mix and raised FY2027 non-GAAP operating income guidance to $166-171 million. Cost of AI tokens is being managed carefully.

Key Risks

Risks include elevated mortgage rates pressuring U.S. mortgage subscription growth (forecast -2% YoY in Q2), cost management of AI compute resources, regulatory complexity in banking, and timing of expenses (e.g., marketing activities shifted from Q1 to later quarters). Forward-looking statements are subject to uncertainties in the financial services industry and global economic conditions.

Generated by AI · Q1 2027 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q1 2027 Q1 2027 2026-05-27

Q1 results exceeded guidance with 12% subscription revenue growth and 28% non-GAAP operating margin, driven by rapid AI adoption and operational efficiencies. FY27 guidance was raised for revenue, operating income, and free cash flow, with strong international and credit union segment momentum.

Q4 2026 Q4 2026 2026-03-31

Fiscal 2026 exceeded guidance with strong AI-driven growth, 17% ACV increase, and improved retention. FY27 guidance targets 8–9% revenue growth, 10% ACV growth, and a 63% rise in free cash flow, with continued momentum in platform pricing and international expansion.

Q3 2026 Q3 2026 2025-12-03

Q3 revenues grew 10% year-over-year, with strong subscription growth and margin expansion. AI adoption and early renewals are accelerating, driving robust demand across geographies and product lines. Fiscal 2026 guidance was raised, and the company remains on track for its Rule of 40 target.

Q2 2026 Q2 2026 2025-08-26

Revenue and profitability exceeded guidance, with strong growth in subscription revenues and key wins in North America, EMEA, and credit unions. AI-driven Banking Advisor adoption is accelerating platform transitions, and FY26 guidance was raised across all major metrics.

Q1 2026 Q1 2026 2025-05-28

Q1 revenues and operating income exceeded guidance, driven by strong subscription growth and robust demand for AI and omnichannel solutions. The company announced a 7% workforce reduction to streamline operations and expects $24M in annualized savings, with updated FY26 guidance reflecting higher revenues and margins.

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