nCino Reports 12.5% Revenue Growth and Net Income Turnaround in Latest Quarter

nCino, Inc. reported its financial results for the three months ended April 30, 2025, revealing a total revenue of $144.1 million, a 12.5% increase from $128.1 million in the same period last year. Subscription revenues rose by 13.8% to $125.6 million, driven by new customer acquisitions and increased usage from existing clients. The company achieved a net income of $5.6 million, a significant turnaround from a net loss of $3.0 million in the prior year, reflecting improved operational efficiency and revenue growth.

The company's gross profit for the quarter was $86.4 million, with a gross margin of 60%, consistent with the previous year. Operating expenses increased to $88.0 million from $80.6 million, primarily due to higher sales and marketing costs associated with expanding its workforce and marketing efforts. The loss from operations narrowed to $1.5 million from $3.7 million year-over-year, indicating a positive trend in operational performance.

Strategically, nCino has made significant moves, including the acquisition of Sandbox Banking for $62.9 million, which is expected to enhance its data connectivity capabilities. The company also repurchased 1.8 million shares of its common stock for $40.6 million as part of a $100 million share repurchase program authorized in March 2025. These actions are part of nCino's broader strategy to strengthen its market position and enhance shareholder value.

As of April 30, 2025, nCino reported a total of 1,650 customers, with a notable increase in international revenue, which accounted for 21.9% of total revenues. The company continues to expand its geographic footprint, particularly in Europe and Asia-Pacific, while also enhancing product adoption rates across its existing customer base. The employee headcount increased to 1,200, reflecting ongoing investments in talent to support growth initiatives.

Looking ahead, nCino anticipates continued revenue growth driven by its subscription model and the integration of recent acquisitions. The company expects to leverage its expanded product offerings and market presence to capture additional market share. However, it remains cautious about macroeconomic factors, including fluctuating interest rates and inflation, which could impact customer demand in the financial services sector.