Business
nCino Reports Third Quarter Fiscal Year 2022 Financial Results
• Total Revenues of $70.0M, up 29% year-over-year• Subscription Revenues of $57.1M, up 32% year-over-year• Signed Definitive Agreement to Acquire SimpleNexus
About this update from Ncino, Inc.
[{"type":"text","content":"• Total Revenues of $70.0M, up 29% year-over-year• Subscription Revenues of $57.1M, up 32% year-over-year• Signed Definitive Agreement to Acquire SimpleNexus after Quarter Close WILMINGTON, N.C., Dec. 01, 2021 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced financial results for its third quarter of fiscal year 2022 ended October 31, 2021. “The third quarter was another strong quarter for nCino as we added new logos across the U.S. and multiple international markets, including our first customer in Japan, and also signed expanded contracts with existing nCino customers,” said Pierre Naudé, nCino’s Chief Executive Officer. “I’m extremely proud of our team’s continued execution as we hit our first quarter with $70 million in total revenues.” Naudé continued, “The results from the quarter coupled with our recent announcement to acquire SimpleNexus and their leading, mobile-first, cloud-native, homeownership platform, position us extremely well to continue driving the digital transformation of the global financial services industry while generating sustainable, long-term growth.” Financial Highlights Revenues: Total revenues for the third quarter were $70.0 million, a 29% increase from $54.2 million in the third quarter of fiscal 2021. Subscription revenues for the third quarter were $57.1 million, up from $43.3 million one year ago, an increase of 32%.Loss from Operations: GAAP loss from operations in the third quarter was ($12.7) million compared to ($8.8) million in the same quarter of fiscal 2021. Non-GAAP operating loss in the third quarter was ($3.2) million compared to ($2.7) million in the third quarter of fiscal 2021.Net Loss Attributable to nCino: GAAP net loss attributable to nCino in the third quarter was ($13.6) million compared to ($9.1) million in the third quarter of fiscal 2021. Non-GAAP net loss attributable to nCino in the third quarter was ($4.1) million compared to ($3.0) million in the third quarter of fiscal 2021.Net Loss Attributable to nCino per Share: GAAP net loss attributable to nCino in the third quarter was ($0.14) per share compared to ($0.10) per share in the third quarter of fiscal 2021. Non-GAAP net loss attributable to nCino in the third quarter was ($0.04) per share compared ...