Ncino, Inc. · NASDAQ:NCNO
Ncino — Q3 2026 Earnings Presentation
21 slides from Ncino's earnings presentation, Dec 3, 2025
Slide 1: Third Quarter Fiscal Year 2026
A Third Quarter ln NCINO. Fiscal Year 2026 December 3, 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 aCino's financial and operating results, which include statements regarding nCino's future performance, outlook, guidance, the assumptions underlying t
Slide 3: Third Quarter Fiscal 2026 Highlights
Third Quarter Fiscal 2026 Highlights Fi fal Quarter Ended Cone ater tel October 31, 2025 Highlights $ Millions Y/Y Change Exceeded high end of guidance ranges for: Total Revenues $152.2 +10% * Total Revenues * Subscription Revenues Subscription Revenues $133.4! we. Tey * Non-GAAP Operating Income ©
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: 11% Subscription % of Total 84% 86% 87% 86% 88%
Slide 6: Quarterly Subscription Revenues by Source
Quarterly Subscription Revenues by Source $ Millions : . . . . . . ; . . | | 4Q FY23 10 FY24 20 FY24 30 FY24 40 FY24 10 FY25 20 FY25 30 FY25 40 FY25 10 FY26 20 FY26 30 FY26 Subscription Revenues excluding U.S. Mortgage @ U.S. Mortgage Subscription Revenues 40 10 22 30 40 10 20 30 40 10 20 30 FY23 FY
Slide 7: Growing Global Footprint
Growing Global Footprint Third Quarter FY26 Subscription International Subscription Revenues lillions, rowth % Revenues by Geography 34% 57% 54% 21% 28% FY 2023 FY 2024 FY 2025 3Q FY25 3Q FY26 ™@ U.S. gg International ail Note: Includes inorganic Subscription Revenues of 1) $7.5 million, 2) $4.1 mil
Slide 8: Gross Margins
Gross Margins Overall Non-GAAP Gross Margin Non-GAAP Subscription Gross Margin 75% 75% 76% 76% 76% | | : | FY2023 FY2024 «= FY2025 | «3QFY25 «= 3Q FY26. FY2023 FY2024 «= FY2025 © «3QFY25. «30. FY26 ] Note: Non-GAAP gross margins adjusted to exclude stock-based compensation, amortization, and restruc
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% 26% 18% 20% a% - a | : (1%) (8%) FY 2023 FY 2024 FY 2025 3QFY25 3Q FY26 FY 2023 FY 2024 FY 2025! 3Q FY25 3Q FY26 | $53.4 | 1 $5.1 | Operating Income/(Loss) ($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 2.789 1,858 1.801 4 1,070 455 479 531 FY 2023 FY 2024 FY 2025 FY 2023 FY 2024 FY 2025 Bank g IMB gj CU @ Other ail Note: Amounts as of respective fiscal years ended Januar
Slide 12: Financial Outlook
Financial Outlook nCino is Providing Guidance for: Jered ench Hose CDE 9 . Ending January 31, 2026 Ending January 31, 2026 {otal Revenues $146.75 and $148.25 million $591.9 and $593.4 million etween Subscription Revenues $130.75 and $132.25 million $520.5 and $522.0 million etween Non-GAAP Operating
Slide 13: Appendix
ali. Ncino. Appendix
Slide 14: Definitions
Definitions Annual Contract Value (ACV) - We define ACV as the highest annualized subscription fee obligation under customer contracts in effect at the end of the reporting period, converted to USD with foreign exchange rates in effect as of the end of the applicable period. ACV Net Retention Rate -
Slide 15: Third Quarter Fiscal 2026
Third Quarter Fiscal 2026 Subscription Revenues ($ millions) Components of Overperformance: 3rd Quarter | Amount of 3rd Mortgage RiceKelelacta Guidance Quarter Execution Volume Contract FX Benefit Reported High End |Overperformance| Based Driven Buy-Out vs Plan Subscription Revenues: $133.4 $129.5 +
Slide 16: Fiscal 2026 Revenues Guidance Framework
Fiscal 2026 Revenues Guidance Framework ($ millions) Change to Fiscal 2026 Guidance High End from: Updated Prior Extrapolated 3rd Quarter Net effect of 3rd Quarter Fiscal 2026 YoY Guidance Execution U.S. Mortgage Contract FX Benefit Total Guidance YoY Constant High End Based Beat Volume Driven Buy-O
Slide 17: Non-GAAP Operating Income
Non-GAAP Operating Income ($ millions) Components of Overperformance: 3rd Quarter | Amount of 3rd_ | Gross Profit from KiceR@lelacias Guidance Quarter Subs Revenues Expense Reported High End | Overperformance| Overperformance Management Non-GAAP Operating Income: $39.9 $33.5 +$6.4 +$3.1 +$3.3 QoQ Ch
Slide 18: Platform Pricing
Platform Pricing New Customer Illustrative Example 4-year Initial Contract, Platform Pricing 1,200,000 1,000,000 oe 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 19: Subscription Gross Margin
Subscription Gross Margin FY 2023 FY 2024 FY 2025 3Q FY25 3Q FY26 Subscription Revenues $344,752 $409,479 $469,168 $119,894 $133,411 GAAP Subscription Gross Profit 238,487 288,618 334,236 86,125 95,985 (+) Amortization 17,019 16,306 17,784 4,404 5,111 (+) Stock Based Compensation 1,430 1,847 2,891 7
Slide 20: S&M Expense
S&M Expense FY 2023 FY 2024 FY 2025 3Q FY25 3Q FY26 GAAP S&M $127,669 $130,547 $123,231 $29,729 $33,107 (-) Amortization 11,087 20,590 11,979 2,871 4,040 (-) Acquisition-Related Expenses -- -- 46 -- -- (-) Stock Based Compensation 13,283 15,417 17,016 4,394 4,008 (-) Restructuring Charges 1,333 100
Slide 21: Non-GAAP Net Income/(Loss) Attributable to nCino
Non-GAAP Net Income/(Loss) Attributable to nCino FY 2023 FY 2024 FY 2025 3Q FY25 3Q FY26 GAAP Net Income/(Loss) Attributable to nCino ($102,720) ($42,346) ($37,878) ($5,252) $6,539 (+) Amortization of Acquired Intangibles 28,200 37,226 30,093 7,357 9,151 (+) Stock Based Compensation 50,232 58,035 71