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Apr 30
nCino Q1 2026 Earnings Report
nCino reported a solid first quarter with growth in subscription revenue and positive net income.
Key Takeaways
nCino delivered strong Q1 results, achieving revenue growth and a return to profitability on a GAAP basis. Despite a decline in non-GAAP net income, operational efficiency and AI-driven platform enhancements highlighted the quarter.
Total revenue grew 13% year-over-year to $144.1 million
GAAP net income was $5.6 million compared to a loss in the prior year
Non-GAAP operating income increased slightly to $24.8 million
nCino repurchased 1.8 million shares for $40.6 million
nCino
nCino
nCino Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
nCino guided for moderate revenue and income growth for Q2 and full FY26, supported by momentum in subscription services.
Positive Outlook
- Q2 revenue guidance between $142M and $144M
- Q2 non-GAAP EPS guidance of $0.13 to $0.14
- Full-year revenue guidance raised to $578.5M–$582.5M
- Annual Contract Value expected between $564M and $567M
- Focus on AI innovation and customer expansion continues
Challenges Ahead
- Non-GAAP EPS guidance lower than prior year Q1 result
- Cash usage in share repurchases reduced liquidity
- Higher interest expense due to increased debt usage
- Foreign currency exchange impacted reported results
- Ongoing customer consolidation could affect future revenue
Revenue & Expenses
Visualization of income flow from segment revenue to net income