Ncino, Inc. · NASDAQ:NCNO
Ncino — Q2 2026 Earnings Presentation
20 slides from Ncino's earnings presentation, Aug 26, 2025
Slide 1: Second Quarter Fiscal Year 2026
« Second Quarter lt NCINO. Fiscal Year 2026 — August 26, 2025
Slide 2: Cautionary Note Regarding Forward-Looking Statements, Disclaimers and Financial Measures
Cautionary Note Regarding Forward-Looking Statements, Disclaimers and Financial Measures This presentation contains forward-looking statements about nCino's financial and operating results, which include statements regarding nCino’s future performance, outlook, guidance, the assumptions underlying t
Slide 3: Second Quarter Fiscal 2026 Highlights
Second Quarter Fiscal 2026 Highlights ° ° Quarter Ended Financial July 31, 2025 $ Millions Y/Y Change Exceeded guidance ranges for: Highlights Total Revenues $148.8 +12% . _ +15%, 5 Subscription Revenues $130.8! £10% creentts . GAAP Operating Income/(Loss) Non-GAAP Operating Income ($9.3) -$1.4 Mill
Slide 4: Key Performance Indicators
Key Performance Indicators $ Millions Annual Contract Value 1 (ACV) $421.3 $455.4 $516.4 13% ACV Y/Y growth % 16% 8% (8% Organic, 9% Organic cc.) ACV Net Retention Rate 105% 102% 106% Subscription Revenues Net 144% 9 9 Retention Rate (124% Organic) 116% 110% Note: 1) Includes $23.3 million of ACV fr
Slide 5: Y/Y Subscription Revenues Growth and Subscription % of Total
Y/Y Subscription Revenues Growth: 15% Subscription % of Total 84% 86% 87% 86% 88%
Slide 6: Quarterly Subscription Revenues by Source
Quarterly Subscription Revenues by Source $ Millions : : . . . . . . | . . i 1 3Q FY23 40 FY23 10 FY24 20 FY24 30 FY24 40 FY24 10 FY25 20 FY25 30 FY25 40 FY25 10 FY26 20 FY26 m Susbcription Revenues excluding U.S. Mortgage U.S. Mortgage Subscription Revenues 30 40 10 22 30 40 10 20 30 40 10 20 FY23
Slide 7: Growing Global Footprint
Growing Global Footprint Second Quarter FY26 Subscription International Subscription Revenues lillions, rowth % Revenues by Geography 34% 57% 54% 30% 28% FY 2023 FY 2024 FY 2025 2QFY25 2Q FY26 @ U.S. International Note: Includes inorganic Subscription Revenues of 1) $7.5 million, 2) $4.4 million.
Slide 8: Gross Margins
Gross Margins Overall Non-GAAP Gross Margin Non-GAAP Subscription Gross Margin 75% 75% 76% 75% 76% | | / FY2023 FY2024 = FY2025 «= 2QFY25 20 FY26 FY2023 FY2024 «= FY2025 «2QFY25 = 2Q FY26 Note: Non-GAAP gross margins adjusted to exclude stock-based compensation, amortization, and restructuring charg
Slide 9: S&M, R&D and G&A % of Revenues
S&M % of revenues R&D % of revenues G&A % of revenues
Slide 10: Operating & Cash Flow Margins
Operating & Cash Flow Margins Non-GAAP Operating Margin Free Cash Flow Margin 11% 10% 8% 18% 20% 13% 15% [| _ : (1%) (8%) FY 2023 FY 2024 FY 2025 2QFY25 2Q FY26 FY 2023 FY 2024 FY 2025! 2QFY25 20 FY262 ‘$53.4 i | $4.6 Operating Income/(Loss) ($mm) Free Cash Flow($mm) Note: Non-GAAP financials adjust
Slide 11: Customer Base Overview
Customer Base Overview Total Customers Customers with Subscription Revenues Over: Counts & Proportionate ACV @>$100K @>$iM >$5M 2.78 1,858 1.801 40 4 1,070 455 479 531 FY 2023 FY 2024 FY 2025 FY 2023 FY 2024 FY 2025 Bank gj IMB gj CU 4 Other Note: Amounts as of respective fiscal years ended January
Slide 12: Financial Outlook
Financial Outlook nCino is Providing Guidance for: WT eI Hose Cet eS 9 . Ending October 31, 2025 Ending January 31, 2026 {otal Revenues $146.0 and $148.0 million $585.0 and $589.0 million etween Subscription Revenues $127.5 and $129.5 million $513.5 and $517.5 million etween Non-GAAP Operating Incom
Slide 13: Appendix
ali ncino. Appendix —_
Slide 14: Definitions
Definitions Annual Contract Value (ACV) - We define ACV as the highest annualized subscription fee obligation under customer contracts in effect at the end of the reporting period, converted to USD with foreign exchange rates in effect as of the end of the applicable period. ACV Net Retention Rate -
Slide 15: Second Quarter Fiscal 2026
Second Quarter Fiscal 2026 Subscription Revenues ($ millions) Components* of Over-performance: 2nd Quarter Amount of 2nd 20d Quarter Guidance Quarter Over- Performance- Mortgage FOREX Benefit Reported High-End performance based Volume-driven vs Plan Subscription Revenues: $130.8 $126.5 +$4.3 +$0.9 +
Slide 16: Fiscal 2026 Guidance Framework
Fiscal 2026 Guidance Framework ($ millions) Change to Fiscal 2026 Guidance Midpoint from: 2nd Quarter Updated Prior Extrapolated U.S. Mortgage Fiscal 2026 YoY (etifefeltemm ~Performance- volume FOREX Benefit | Total Guidance YoY Constant Midpoint based Beat overage vs Plan Change #ibuielexeniam Repo
Slide 17: Platform Pricing
Platform Pricing New Customer Illustrative Example 4-year Initial Contract, Platform Pricing 1,200,000 1,000,000 --- 800,000 ---- Initial Contract ACV 600,000 == == Subscription revenues under 400,000 initial contract = average of contracted Subscription Fees, Year 1 Year 2 Year 3 Year 4 Year 5 befo
Slide 18: Subscription Gross Margin Reconciliation
Subscription Gross Margin FY 2023 FY 2024 FY 2025 2Q FY25 2Q FY26 Subscription Revenues $344,752 $409,479 $469,168 $113,911 $130,752 GAAP Subscription Gross Profit 238,487 288,618 334,236 80,544 92,760 (+) Amortization 17,019 16,306 17,784 4,404 5,115 (+) Stock Based Compensation 1,430 1,847 2,891 7
Slide 19: S&M, R&D and G&A Expense Reconciliation
S&M Expense FY 2023 FY 2024 FY 2025 2Q FY25 2Q FY26 GAAP S&M $127,669 $130,547 $123,231 $31,713 $37,265 (-) Amortization 11,087 20,590 11,979 2,862 4,043 (-) Acquisition-Related Expenses -- -- 46 -- -- (-) Stock Based Compensation 13,283 15,417 17,016 4,184 3,746 (-) Restructuring Charges 1,333 100
Slide 20: Non-GAAP Net Income/(Loss) Attributable to nCino
Non-GAAP Net Income/(Loss) Attributable to nCino FY 2023 FY 2024 FY 2025 2Q FY25 2Q FY26 GAAP Net Income/(Loss) Attributable to nCino ($102,720) ($42,346) ($37,878) ($11,040) ($15,257) (+) Amortization of Acquired Intangibles 28,200 37,226 30,093 7,349 9,241 (+) Stock Based Compensation 50,232 58,03