nCino, Inc. reported a total revenue of $540.7 million for the fiscal year ending January 31, 2025, marking a 13.4% increase from $476.5 million in the previous fiscal year. Subscription revenues, which accounted for 86.8% of total revenues, rose to $469.2 million, up from $409.5 million in fiscal 2024. Despite this growth, the company recorded a net loss of $37.9 million, a slight improvement from the $42.3 million loss in the prior year. The increase in revenue was attributed to both the expansion of existing customer contracts and contributions from recent acquisitions, including DocFox, Integrated Lending Technologies (ILT), and FullCircl.
The company has seen significant operational changes, including the acquisition of Sandbox Banking in February 2025 for $52.5 million, which is expected to enhance its data connectivity and operational efficiency. nCino's customer base grew to 2,789 by the end of fiscal 2025, with 549 customers generating over $100,000 in subscription revenues. The company also reported a subscription revenue net retention rate of 110%, indicating a stable revenue stream from existing customers.
In terms of geographic expansion, nCino's international revenues accounted for 21.5% of total revenues in fiscal 2025, reflecting a growing presence outside the U.S. The company has invested heavily in research and development, allocating 23.9% of its revenues to this area, which is expected to drive future growth and product enhancements. As of January 31, 2025, nCino employed 1,833 individuals, a significant increase from previous years, reflecting its growth strategy and the integration of acquired companies.
Looking ahead, nCino aims to continue its growth trajectory by expanding its customer base and enhancing product functionality. The company plans to leverage its new asset-based pricing model to align revenues with customer growth and usage of its platform. However, it also faces challenges, including the need to navigate a competitive landscape and manage the impacts of macroeconomic conditions, such as fluctuating interest rates and inflation, which could affect customer spending on technology solutions.
About nCino, Inc.
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