nCino Reports 12.4% Revenue Growth to $148.8 Million in Q2 Fiscal 2026

nCino, Inc. reported its financial results for the second quarter of fiscal 2026, revealing a total revenue of $148.8 million for the three months ended July 31, 2025, marking a 12.4% increase from $132.4 million in the same period last year. Subscription revenues, which constitute the majority of the company's income, rose by 14.8% to $130.8 million, up from $113.9 million. For the first half of the fiscal year, total revenues increased by 12.5% to $293.0 million, with subscription revenues growing 14.3% to $256.3 million. Despite this growth, nCino reported a net loss attributable to the company of $15.3 million for the quarter, compared to a loss of $11.0 million in the prior year, and a reduced loss of $9.7 million for the six-month period, down from $14.0 million.

The company experienced significant operational changes, including the acquisition of Sandbox Banking for $62.9 million, which is expected to enhance its data connectivity capabilities. This acquisition, along with previous purchases of DocFox and Integrated Lending Technologies, has expanded nCino's product offerings and market reach. The company also initiated a restructuring plan, resulting in a workforce reduction of approximately 7% to improve operational efficiencies, incurring restructuring costs of $10.1 million in the second quarter.

nCino's customer base continues to grow, with the company reporting an increase in the number of financial institutions using its platform. As of July 31, 2025, the company had 177 sales personnel in the U.S. and 126 in international markets, reflecting its commitment to expanding its global footprint. The company’s international revenues accounted for 22.5% of total revenues for the quarter, indicating a steady growth in markets outside the U.S.

The financial performance was also impacted by increased operating expenses, which rose to $97.4 million for the quarter, up from $86.4 million a year earlier. This increase was driven by higher sales and marketing costs, which grew due to expanded headcount and marketing initiatives. Research and development expenses remained stable, while general and administrative costs increased, partly due to restructuring-related expenses. The company’s gross profit margin remained consistent at approximately 59.2% for the quarter.

Looking ahead, nCino anticipates continued growth driven by its strategic acquisitions and the expansion of its product offerings. The company expects to leverage its new asset-based pricing model to align revenues more closely with customer value. With $122.9 million in cash and cash equivalents as of July 31, 2025, and a robust credit facility, nCino is well-positioned to fund its operations and growth initiatives in the coming year.