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Apr 30, 2025
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
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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