Business
nCino Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Q4 Total Revenues of $123.7M, up 13% year-over-year Fiscal Year 2024 Total Revenues of $476.5M, up 17% year-over-year Q4 Subscription Revenues of $107.5M, up
About this update from Ncino, Inc.
[{"type":"text","content":"Q4 Total Revenues of $123.7M, up 13% year-over-year Fiscal Year 2024 Total Revenues of $476.5M, up 17% year-over-year Q4 Subscription Revenues of $107.5M, up 16% year-over-year Fiscal Year 2024 Subscription Revenues of $409.5M, up 19% year-over-yearCompany Announces Chief Revenue Officer Transition WILMINGTON, N.C., March 26, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced financial results for the fourth quarter and fiscal year 2024, ended January 31, 2024. “We are very pleased with our fourth quarter fiscal year 2024 financial results, particularly about closing the year with our strongest gross sales quarter in the past ten quarters,\" said Pierre Naudé, CEO and Chairman of the Board at nCino. \"The team's solid execution and continued focus on product innovation and experience improvements, coupled with more normal buying cycles and positive tone from customers, fuels our optimism for the year ahead and beyond.” Fourth Quarter Fiscal 2024 Financial Highlights Revenues: Total revenues for the fourth quarter of fiscal 2024 were $123.7 million, a 13% increase from $109.2 million in the fourth quarter of fiscal 2023. Subscription revenues for the fourth quarter were $107.5 million, up from $92.8 million one year ago, an increase of 16%.Income (Loss) from Operations: GAAP loss from operations in the fourth quarter of fiscal 2024 was $(3.2) million compared to $(23.3) million in the same quarter of fiscal 2023. Non-GAAP operating income in the fourth quarter was $19.3 million compared to $1.8 million in the fourth quarter of fiscal 2023.Net Income (Loss) Attributable to nCino: GAAP net income attributable to nCino in the fourth quarter of fiscal 2024 was $1.2 million compared to a $(21.2) million net loss attributable to nCino in the fourth quarter of fiscal 2023. Non-GAAP net income attributable to nCino in the fourth quarter was $23.8 million compared to $4.4 million in the fourth quarter of fiscal 2023.Net Income (Loss) Attributable to nCino per Share: GAAP net income attributable to nCino in the fourth quarter of fiscal 2024 was $0.01 per diluted share compared to a $(0.19) loss per basic and diluted share in the fourth quarter of fiscal 2023. Non-GAAP net income attributable to nCino in the fourth quarter was $0.21 per diluted share co...