Ncino, Inc. · NASDAQ:NCNO
Ncino — Investor Day (May 2025)
49 slides from Ncino's investor day presentation, May 20, 2025
Slide 1: Investor Day
all. NCino. Investor Day TUESDAY MAY 20, 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 first quarter fiscal 2026 financial results, future performance, ou
Slide 3: Agenda
Agenda 1 Powering a New Era in Financial Services S E A N D E S M O N D, C EO 2 Financial Update GREG ORENSTEIN, CFO 3 Q&A 3
Slide 4: Powering a New Era in Financial Services
Powering a New Era in Financial Services Sean Desmond President and Chief Executive Officer 4
Slide 5: About nCino
About nCino FY2025 Total Revenues FY2025 Subscription Non-GAAP Operating up 13% Y/Y Revenues up 15% Y/Y Income up 56% Y/Y Customers in 20 Employees Worldwide Over 14 Years of Excellence Countries Globally Powering nCino Since Founding 5
Slide 6: Global Customer Base
Global Customer Base North America EMEA APAC fi Bank = TRUISTEH B® Asn-amao showbrook -—V- I (Sbank ZIONS (obs) @PBARCLAYS = By 245222200707 N 5 ASB FEDERAL (Uy CAPITEC G Credit Union’ FIFTH THIRD BANK AIB Time KER oO) Desjardins & Santander (eo) MACQUARIE BANK OF AMERICA os moe 2700+ customers | De
Slide 7: Legacy Challenges
Legacy Challenges Issues Customers Frustrating Experiences Executives Strategy Execution Gap Relationship Teams Outdated, Disconnected Tools & Lack of Visibility Operations & Support Outdated, Disconnected Tools & Manual Processes 7
Slide 8: Modern Solutions
Modern Solutions Desired Outcomes Customers Seamless, Personalized Experiences Executives Strategic Execution Excellence Relationship Teams Complete Client Visibility with Intelligent, Streamlined Processing Operations & Support Streamlined Process Automation with Intelligent Workflow Optimization 8
Slide 9: Commercial Banking, Consumer Banking, Small Business Banking
Commercial Banking Consumer Banking Onboarding time reduced from Account opening reduced months to days, with one institution from half an hour to just cutting document processing time by minutes, while minimizing 74% customer abandonment rates during onboarding. The business impact of these innovat
Slide 10: Fifth Third Bank CIO quote on nCino deployment
One partnership that explains Schramm’s thinking is the deployment of commercial loan operations systems provided by financial tech provider nCino. Building that same system at Fifth Third would have taken five times longer and probably cost twice as much. JUDE SCHRAMM Chief Information Officer Fift
Slide 11: First Horizon CEO quote on nCino deployment
The investment in emerging technology has created tangible, economical value for the company and has transformed how the bank conducts business. […] Recent projects include adopting nCino, designed to reduce navigation for internal work. That deployment has cut 1,500 hours in staff work on a yearly
Slide 12: Fulfilling the Platform Vision
Commercial Fulfilling the Consumer Platform Vision Mortgage
Slide 13: The nCino Platform
1 ncino. The nCino Platform creates experiences across various lines of business that solve for key challenges faced by financial institutions. Omnichannel POS Commercial Consumer Mortgage B) onboarding J) onboarding B tencing | Account Opening | Account Opening | Compensation | Lending | ending | P
Slide 14: Significant Opportunity in Current Customer Base
Significant Opportunity in Current Customer Base $1,400M $1,200M Commercial whitespace1 $1,000M $800M $600M Consumer whitespace2 $400M 1 1 Opportunity in $200M Existing Customer Base 2 Actual ACV as of $0M 4Q FY25 Commercial 3 Consumer 3 2 Note: (1) Includes Commercial Lending, Commercial Onboarding
Slide 15: Expanding SAM
Expanding SAM $19.5 BILLION $1B $10B Additional Addressable Markets Not currently considered $6.4B 2 in SAM $10.8B 1 EMEA Opportunity 1) Includes $500 million of Onboarding Americas Opportunity 2) Includes $300 million of Onboarding $2.3B APAC Opportunity 16 Note: See appendix for definitions.
Slide 16: Accelerating Innovation with Strategic Acquisitions
S P E E D O F I N N OVAT I O N M&A as an Accelerator Data, AI, & Analytics Onboarding EMEA Accelerating Innovation with Strategic Acquisitions Credit Union Mortgage Market 17
Slide 17: Incremental Growth Initiatives
Expanded Focus in EMEA Realize the Onboarding Opportunity Incremental Growth Activate the Credit Initiatives Union Market Cross-Sell Mortgage Embed Data, AI, & Analytics 18
Slide 18: Embed Data, AI, & Analytics Across the Platform
1 Embed Data, AI, & Analytics Across the Platform
Slide 19: Our Intelligence Strategy
Our Intelligence Strategy Banking Advisor Agentic AI Unified API 20
Slide 20: Banking Advisor
Banking Advisor E X PA N D I N G C A PA B I L I T I E S Features Delivered May 2025 Chat with Any Document Knowledgebase Continuous Credit Monitoring Credit Narratives Operations Analytics (w/ PA Auto Insights Benchmarks) Portfolio Advisor Intelligent Alerts SMB Eligibility Tool & Application Summar
Slide 21: Orchestrating Agentic AI for Banking
Orchestrating Agentic AI for Banking AI Native Workflows Agentic AI Banking (for example, standardized Small Business) (for example, customized Commercial Lending) Integration Engine AU G M E N TAT I O N Supercharged Commercial Banker AU TO M AT I O N Agentic Planning & Execution Banking Rules Engin
Slide 22: Unified API Strategy
Unified API Strategy Integrated & Unified Supports all nCino product lines with a secure, streamlined managed data services model. Core-Connected Direct integration with 14+ of the top core By bringing Sandbox Banking providers. into the nCino ecosystem, we’re Open APIs or Innovation reinforcing our
Slide 23: Expanding Focus in EMEA
2 Expanding Focus in EMEA
Slide 24: Expanding EMEA Focus
Expanding EMEA Focus $6.4 BILLION TOTAL SAM United Kingdom & Ireland (UKI) $1.6 Billion Continental Europe $4.4 Billion 25 Note: Balance of EMEA SAM comprised of Middle East and Africa. See appendix for definitions.
Slide 25: Realizing the Onboarding Opportunity
Realizing the 3 Onboarding Opportunity
Slide 26: Onboarding: Realizing the Opportunity
ONBOARDING Realizing the Opportunity $0.8 Billion SAM attached to Commercial Lending ✓ Replacing tedious, manual processes Process: + Compliance: 27
Slide 27: Customer ID Process and Due Diligence
Customer ID Increase in conversion rate Decrease in time to originate Process Customer Due Diligence Monitoring KYC Loan Origination Loan Monitoring Source: Automation in Onboarding and Ongoing Servicing of Commercial Banking Clients (Deloitte) 28
Slide 28: Activating the Credit Union Market
Activating the Credit Union Market 4
Slide 29: Credit Unions: Activating the Market
Credit Unions: Activating the Market 4500+ Credit Unions in the U.S. $1.0 BN of SAM Unlocked 1000+ Credit Union customers 30
Slide 30: Cross-Selling Mortgage
Cross-Selling Mortgage 5
Slide 31: U.S. Mortgage: The Cross-Sell Opportunity
U.S. Mortgage: The Cross-Sell Opportunity Community Bank Super-Regional Bank Customer Customer Total ACV: $2.5 million Total ACV: $2.0 million Market Leader in IMB Segment: 20% 16% over 200 customers 19% 65% 45 U.S. Mortgage customers in 80% nCino Financial Institution base Commercial Mortgage 115%
Slide 32: Differentiate and Win with nCino
Differentiate and Win with nCino ✓ ✓ ✓ ✓ ✓ ✓ 33
Slide 33: Financial Update
Financial Update Greg Orenstein Chief Financial Officer 34
Slide 34: Preliminary First Quarter Fiscal 2026 Financial Update
Preliminary First Quarter Fiscal 2026 Financial Update Preliminary results exceed top end of guidance ranges for: First Quarter ended Previously Disclosed Guidance Ranges April 30, 2025 Total Revenues $138.75 and $140.75 million Subscription Revenues $121.75 and $123.75 million Non-GAAP Operating In
Slide 35: FY26 ACV Targets
FY26 ACV Targets Targets Supported by: KPI FY25 FY26 Targets2 $ Millions Targets Supported retention • Improving by: • Improving metricsretention metrics Annual Contract Value (ACV) $516.41 $564 to $567 • 14% more sales capacity 13% • 14% • More more sales available product 9% to 10% ACV Y/Y growth
Slide 36: Retention Normalizing
Retention Normalizing ACV Net Retention Rate Expansion Revenue Impact Lags ACV Churn Events FY24 FY25 Modeling (3%) headwind to FY26 Subscription ACV Net Revenues from FY25 elevated churn 102% 106% Retention Rate Revenue Impact Lags ACV Churn Events $ Millions, % of PY Revenues Cyclical Contributors
Slide 37: A Platform of Market-Leading Solutions
A Platform of Market-Leading Solutions ACV Mix by Line of Busines $516 Y/Y Growth Rate FY25 $ Millions $455 $70 $421 Commercial 15% $66 $57 1 $63 $49 1 Commercial Organic 10% $37 1 Consumer1 16% $389 $321 $340 Consumer Organic1 11% U.S. Mortgage 6% FY23 FY24 FY25 Commercial 2 Consumer 3 U.S. Mortgag
Slide 38: Consumer Lending Momentum
Consumer Lending Momentum Regional Bank Large Bank $0.9 Billion SAM in the Customer Customer U.S. Total ACV: $3.1 million Total ACV: $3.2 million 43 customers added in FY25, bringing Land + Growth with total to 133 Consumer 4 accounts with over $50 $1.1 $1.3 billion in assets $0.8 $3.2 $2.9 119% ACV
Slide 39: Expanding Global Footprint: International Subscription Revenues
Expanding Global Footprint: International Subscription Revenues $ Millions $28.1 4 $23.0 3 $19.7 1 $21.0 2 $17.9 $19.2 $14.8 $16.5 $11.2 $12.4 $9.9 $10.2 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Reported Y/Y Growth %: 70% 48% 45% 54% 51% 62% 60%
Slide 40: Platform Pricing: Aligns Monetization with Business
Platform Consumption of Fees with Intelligence Platform Pricing: Minimums Units Aligns Monetization with Business Assets Under Management / Provides upside potential from Outcomes Achieved Transaction / Processing Volume customer adoption and delivery of additional Banking Advisor capabilities 41
Slide 41: Platform Fees Seed Future Growth
Platform Fees Seed Future Growth Historical FI asset growth of Bow Wave of Billings Follows Temporary Lag 2-3% per annum $1,000,000 $800,000 Encourages: $600,000 Broader adoption, $400,000 Larger deal sizes, Favorable product mix $200,000 $- Year 1 Year 2 Year 3 Year 4 Annual Subscription Fees Subsc
Slide 42: Margin & Expense Targets
Margin & Expense Targets L O N G -T E R M METRIC FY25 TA R G E T M O D E L Subscription Gross Margin 76% 78-80% Gross Margin 66% 71-75% S&M 17% 14-17% % of revenues R&D 21% 13-14% % of revenues G&A 10% 6-9% % of revenues Operating Margin 18% 35% Note: All values presented on non-GAAP basis. See appe
Slide 43: Margin Levers on Path to Rule of 40
Gross Margin R&D Margin Levers on Optimize Product Maturation of Path to Rule of 40 Mix & Leverage AI Product Investments & AI to Improve Delivery Times 44
Slide 44: Operating Margin Progression
Operating Margin Progression FY23 FY24 FY25 FY26 Guidance* $ Millions $109.0 $96.2 19% 18% $61.8 13% $(2.1) -1% Non-GAAP Operating Income/(Loss) Non-GAAP Operating Margin % Note: * Denotes midpoint of FY 2026 guidance provided on April 1, 2025. All values presented on non-GAAP basis. See appendix fo
Slide 45: Appendix
APPENDIX 48
Slide 46: Definitions
Definitions Annual Contract Value (ACV) – We define ACV as the highest annualized subscription fee obligation under customer contracts in effect at the end of the reporting period, converted to USD with foreign exchange rates in effect as of the end of the applicable period. ACV Net Retention Rate –
Slide 47: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands)
Slide 48: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands)
Slide 49: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands)