Ncino, Inc. · NASDAQ:NCNO
Ncino — Q1 2026 Earnings Presentation
20 slides from Ncino's earnings presentation, May 28, 2025
Slide 1: First Quarter Fiscal Year 2026
P First Quarter lt NCINO. Fiscal Year 2026 — May 28, 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: First Quarter Fiscal 2026 Highlights
First Quarter Fiscal 2026 Highlights ° . Quarter Ended Financial April 30, 2025 $ Millions Y/Y Change Exceeded guidance ranges for: Highlights Total Revenues, Total Revenues $144.1 +13% 7 Subscription Revenues, Subscription $125.61 +14%, * Non-GAAP Operating Income Revenues ° +9% organic GAAP Clacre
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: 14%
Y/Y Subscription Revenues Growth: 14% Subscription % of Total 84% 86% 87% 86% 87%
Slide 6: Subscription Revenues Excluding U.S. Mortgage
$18 $19 $21 $18 $17 $18 $17 $16 $16 $15 $16 $15 $99 3 $107 4 $107 5 $90 $93 1 $97 2 $81 $83 $87 $69 $73 $77 2Q 2FY23 3Q 2FY23 FQ FY23 1Q FY24 2Q FY24 3Q FY24 4Q FY24 1Q FY25 2Q FY25 3Q FY25 4Q FY25 1Q FY26 Susbcription Revenues excluding U.S. Mortgage U.S. Mortgage Subscription Revenues
Slide 7: Growing Global Footprint
Growing Global Footprint First Quarter FY26 Subscription International Subscription Revenues lillions, rowth % Revenues by Geography 34% 57% 54% 31% 33% FY 2023 FY 2024 FY 2025 1Q FY25 1Q FY26 @ U.S. International Note: Includes inorganic Subscription Revenues of 1) $7.5 million, 2) $4.3 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° «(10 FY25. 10 FY26 FY2023 FY2024 «= FY2025«1QFY25. «1 FY26 Note: Non-GAAP gross margins adjusted to exclude stock-based compensation, amortization, and restructuring char
Slide 9: S&M, R&D, 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 42% 36% 18% 19% 17% 13% | ms 10% oo | | || (8%) FY 2023 FY 2024 FY 2025 1QFY25 1Q FY26 FY 2023 FY 2024 FY 2025! 1QFY25 1Q FY262 [$53.4 i | $541 | Operating Income/(Loss) ($mm) Free Cash Flow($mm) Note: Non-GAAP financials
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: Second Quarter Fiscal Year 2026 9 . Ending July 31, 2025 Ending January 31, 2026 {otal Revenues $142.0 and $144.0 million $578.5 and $582.5 million etween Subscription Revenues $124.5 and $126.5 million $507.0 and $511.0 million etween Non-GAAP Oper
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: Updated Guidance Assumptions
Updated 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, co: 9% Reported Subscription Revenues Growth: 15% Subscription Revenues Growth: 8% - 9% Organic! Subscr
Slide 16: Updated Guidance Assumptions
Updated Guidance Assumptions | Metric: FY2026 Guidance Assumptions Total Revenues + 0% growth in Professional Services Revenues * Currency exchange rates in effect as of February 1, 2025 Suissenisiten Reveamss + Fourth quarter to represent lowest year-over-year subscription revenues growth * $10 mil
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
Subscription Gross Margin FY 2023 FY 2024 FY 2025 1Q FY25 1Q FY26 Subscription Revenues $344,752 $409,479 $469,168 $110,406 $125,588 GAAP Subscription Gross Profit 238,487 288,618 334,236 78,626 89,463 (+) Amortization 17,019 16,306 17,784 4,118 5,075 (+) Stock Based Compensation 1,430 1,847 2,891 5
Slide 19: S&M Expense
S&M Expense FY 2023 FY 2024 FY 2025 1Q FY25 1Q FY26 GAAP S&M $127,669 $130,547 $123,231 $28,045 $32,971 (-) Amortization 11,087 20,590 11,979 2,482 4,032 (-) Acquisition-Related Expenses -- -- 46 -- 335 (-) Stock Based Compensation 13,283 15,417 17,016 3,956 2,928 (-) 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 1Q FY25 1Q FY26 GAAP Net Income/(Loss) Attributable to nCino ($102,720) ($42,346) ($37,878) ($2,976) $5,562 (+) Amortization of Acquired Intangibles 28,200 37,226 30,093 6,682 9,189 (+) Stock Based Compensation 50,232 58,035 71