nCino Reports 9.6% Revenue Growth and Net Income Turnaround in Q3 Fiscal 2026

nCino, Inc. reported a notable increase in financial performance for the third quarter of fiscal 2026, with total revenues rising to $152.2 million, a 9.6% increase from $138.8 million in the same period last year. Subscription revenues specifically grew by 11.3%, reaching $133.4 million, up from $119.9 million. The company also achieved a net income of $6.5 million for the quarter, a significant turnaround from a net loss of $5.3 million in the prior year. For the nine months ending October 31, 2025, total revenues increased by 11.5% to $445.1 million, with subscription revenues climbing 13.2% to $389.8 million.

The company experienced several strategic developments during this period, including the acquisition of Sandbox Banking for $62.9 million, which is expected to enhance nCino's data connectivity capabilities. Additionally, nCino's Board of Directors authorized a stock repurchase program of up to $100 million, which was fully executed by the end of the reporting period, resulting in the repurchase of 4 million shares. The company also underwent a restructuring plan that included a workforce reduction of approximately 7%, aimed at improving operational efficiencies.

Operationally, nCino reported a total customer count of 1,200 as of October 31, 2025, with a significant increase in the adoption of its platform across various financial institutions. The company noted that subscription revenues now account for 87.7% of total revenues, reflecting a shift towards a more stable revenue model. The gross margin for subscription revenues remained strong at 71.8%, while the gross margin for professional services was negative, indicating ongoing challenges in that segment.

The filing also highlighted the company's liquidity position, with cash and cash equivalents totaling $87.6 million as of October 31, 2025. nCino's outstanding debt under its revolving credit facility was $203.5 million, with an available borrowing capacity of $46.5 million. The company expressed confidence that its current cash reserves and credit availability would be sufficient to fund operations and capital requirements for at least the next 12 months. Looking ahead, nCino aims to continue expanding its market presence and enhancing its product offerings, while navigating the challenges posed by the current macroeconomic environment.