nCino Reports 10.6% Revenue Growth and Significant Profit Improvement for Q1 2026

nCino, Inc. reported a significant increase in financial performance for the three months ended April 30, 2026, with total revenues reaching $159.4 million, a 10.6% increase from $144.1 million in the same period last year. Subscription revenues, which constitute the bulk of the company's income, rose by 12.2% to $140.9 million, up from $125.6 million. The company also achieved a net income of $13.6 million, compared to $5.6 million in the prior year, reflecting a substantial improvement in profitability.

The company's operational metrics showed notable changes compared to the previous fiscal period. Gross profit increased to $100.9 million, resulting in a gross margin of 63.3%, up from 60.0% a year earlier. This improvement was attributed to a decrease in the cost of professional services and other revenues, which fell to $19.2 million from $21.6 million, while the cost of subscription revenues increased only slightly. The overall operating expenses also decreased to $79.8 million from $88.0 million, contributing to the positive income from operations of $21.1 million, a turnaround from a loss of $1.5 million in the previous year.

Strategically, nCino has continued to expand its product offerings and market presence. The company has made significant investments in research and development, with a focus on enhancing its platform's capabilities, particularly in artificial intelligence and data analytics. Additionally, nCino has been active in the acquisition space, having integrated Sandbox Banking into its operations, which is expected to bolster its mortgage lending solutions. The company also entered into a $200 million term loan agreement to support its growth initiatives and fund an accelerated share repurchase program.

As of April 30, 2026, nCino reported a total of 1,648 customers, reflecting a steady increase in its user base. The company has also expanded its geographic footprint, with international revenues accounting for approximately 22.8% of total revenues. The company’s employee headcount has seen a reduction, with 182 sales personnel in the U.S. and 125 in international offices, as part of its strategy to streamline operations and improve efficiency.

Looking ahead, nCino anticipates continued growth driven by increased adoption of its solutions among existing customers and expansion into new markets. The company expects to recognize approximately 67% of its remaining performance obligations, valued at $1.3 billion, as revenue over the next 24 months. However, nCino remains cautious about potential macroeconomic challenges, including fluctuating interest rates and inflation, which could impact its mortgage business and overall market conditions.