Ncino, Inc. · NASDAQ:NCNO
Ncino — Q4 FY2025 Earnings Presentation
21 slides from Ncino's earnings presentation, Apr 1, 2025
Slide 1: Fourth Quarter Fiscal Year 2025
P Fourth Quarter ol NCINO. Fiscal Year 2025 — April 1, 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: nCino at a Glance
nCino ata Glance nCino was founded in 2011 to help financial institutions digitize and reengineer business processes to boost efficiencies and create better banking experiences. * 1,800+ Employees Globally * 2,700+ Financial Services Customers Globally * Deployed in Over 20 Countries Financial Highl
Slide 4: FY 2025 Annual Financial Highlights
FY 2025 Annual Financial Highlights 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% oO oO Retention Rate (124% Organic) Uters is f ACV from F ACV was $5. ates in effect as
Slide 5: Y/Y Subscription Revenues Growth and Subscription % of Total
Y/Y Subscription Revenues Growth: 16% Subscription % of Total 84% 86% 87% 87% 88%
Slide 6: Quarterly Subscription Revenues by Source
Quarterly Subscription Revenues by Source $ Millions 1Q 2023 2Q 2023 30 2023 40 2023 10 2024 20 2024 30 2024 40 2024 102025 20 2025 30 2025 40 2025 m Subscription Revenues excluding U.S. Mortgage U.S. Mortgage Subscription Revenues 10 20 30 4Q 10 20 32 40 10 20 30 4Q 2023 2023 2023 2023 2024 2024 20
Slide 7: Growing Global Footprint
Growing Global Footprint Fourth Quarter FY25 Subscription International Subscription Revenues $ Millions, Y/Y Growth% Revenues by Geography 34% 57% 54% ; 47% " sy FY23 FY24 FY25 : 4Q FY24 4Q FY25 @ U.S. @ International Note: Includes Subscription Revenues from FY 2025 acquisitions of 1) $7.5 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 «40.2024 «= 4.2025 FY2023 -FY2024 = FY 2025. «4.2024 «= 40.2025 Note: Non-GAAP gross margins adjusted to exclude stock-based compensation, amortization, and restructurin
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% 1 if | | 6% 18% 46% 17% i - ia a | | || || [a (1%) | ' | | | | | | i i (7%) | (8%) ' | | FY 2023 FY 2024 FY2025 402024 4Q 2025 FY 2023 FY 2024 FY 2025" | 402024 4Q 2025? i Y(s33.7) | 1 oh fF (s10.4) | Fre
Slide 11: Customer Base Overview
Customer Base Overview Total Customers Customers with Subscription Revenues Over: Counts & Proportionate ACV @>$100K @>$imM © >$5M 455 479 sal FY 2023 FY 2024 FY 2025 FY 2023 FY 2024 FY 2025 Bank @ IMB gj CU @ Other Note: Amounts as of respective fiscal years ended January 31
Slide 12: Financial Outlook
Financial Outlook nCino is Providing Guidance for: Bist Quarter plscauNes 2026 3 ; Ending April 30, 2025 Ending January 31, 2026 Total Revenues Between Subscription Revenues Between Non-GAAP Operating Income Between Non-GAAP Net Income Attributable to nCino per Diluted Share of Annual Contract Value
Slide 13: Appendix
all’ 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: Guidance Assumptions
Guidance Assumptions FY 2025 Annual - Results FY 2026 Annual - Guidance Reported ACV Growth: 13% ACV Growth: 9% - 10% ACV Organic Growth: 8% ACV Organic Growth: 8% - 9% ACV Organic Growth, cc: 9% Reported Subscription Revenues Growth: 15% Subscription Revenues Growth: ~8% Organic’ Subscription Reven
Slide 16: Guidance Assumptions
Guidance Assumptions FY26 Subscription Growth ie — - ~ -6% FY25 Inorganic FX One-time” US Mortgage? Organic, ex. Mortgage FY26 Guidance Increase m Decrease ™ Total FY26 ACV Growth $45, +19% Organic $5 $566, +10% reported, +9% Organic $516, +13% reported, +8% Organic FY25 ACV Net Adds Organic Acquisi
Slide 17: Guidance Assumptions
Guidance Assumptions | Metric: | FY2026 Guidance Assumptions Total Revenues Subscription Revenues Non-GAAP Operating Income Non-GAAP Net Income Attributable to nCino per Diluted Share Annual Contract Value (ACV) + 0% growth in Professional Services Revenues due to subscription product mix assumed in
Slide 18: Platform Pricing
Platform Pricing 1,200,000 1,000,000 800,000 600,000 400,000 1,200,000 1,000,000 800,000 600,000 400,000 New Customer Illustrative Example 4-year Initial Contract, Platform Pricing Year 1 mACV Year 2 Year 3 Year 4 mg Annual Subscription Fees ig Subscription Revenues Renewal Illustrative Example 4-ye
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands) Subscription Gross Margin Subscription Revenues |GAAP Subscription Gross Profit (+) Amortization (+) Stock Based Compensation (+) Restructuring Charges Non-GAAP Subscription Gross Profit Non-GAAP Subscription Gross Margin Professional Services & Other
Slide 20: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands) S&M Expense FY 2023, FY 2024 FY 2025 4a'24 GAAP S&M |) Amortization (.) Acquisition Reloted Expenses (.) Stock Based Compensation Non-GAAP S&M BEL $94,440 $94,190. $23,606 $25,452 M6 of Revenues 20%, V% 1 19% 18% R&D Expense FY 2023 Fy 2024 FY 2025 aa
Slide 21: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands) Non-GAAP Net Income/{Loss) Attributable to aCino FY 2023 FY 2024 FY 2025 GAAP Net Income/{Loss) Attributable to aCino ($102,720) ($37,878) ($18,610) (+) Amortization of Acquired Intangibles 28,200 30,093 8,705 (+) Stock Based Compensation 50,232 71592