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Jul 31, 2024
nCino Q2 2025 Earnings Report
nCino reported strong financial results for the second quarter of fiscal year 2025, exceeding guidance for total and subscription revenues as well as non-GAAP operating income.
Key Takeaways
nCino, Inc. announced robust financial results for the second quarter of fiscal year 2025, with total revenues reaching $132.4 million, a 13% increase year-over-year, and subscription revenues growing by 14% to $113.9 million. The company also achieved a non-GAAP operating income of $19.3 million, significantly up from $11.2 million in the prior year, demonstrating strong operational performance.
Total revenues for Q2 FY25 were $132.4 million, marking a 13% increase year-over-year.
Subscription revenues grew by 14% year-over-year to $113.9 million.
Non-GAAP operating income for the quarter was $19.3 million, a substantial increase from $11.2 million in Q2 FY24.
GAAP net loss attributable to nCino improved to $(11.0) million from $(15.9) million in the same period last year.
nCino
nCino
nCino Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
For the third quarter ending October 31, 2024, nCino expects total revenues between $136.0 million and $138.0 million, subscription revenues between $117.0 million and $119.0 million, non-GAAP operating income between $21.0 million and $22.0 million, and non-GAAP net income attributable to nCino per diluted share of $0.15 to $0.16. For the full fiscal year 2025, total revenues are projected to be between $538.5 million and $544.5 million, subscription revenues between $463.0 million and $469.0 million, non-GAAP operating income between $87.0 million and $90.0 million, and non-GAAP net income attributable to nCino per diluted share of $0.66 to $0.69.
Positive Outlook
- Expected total revenues for Q3 FY25 are higher than Q2 FY25 actuals.
- Anticipated increase in subscription revenues for Q3 FY25 compared to Q2 FY25.
- Projected non-GAAP operating income for Q3 FY25 is higher than Q2 FY25 actuals.
- Positive non-GAAP net income per diluted share expected for Q3 FY25.
- Strong full fiscal year 2025 guidance for total revenues, subscription revenues, and non-GAAP operating income.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text.
- Macro-economic challenges persist, particularly in the U.S. mortgage market and international markets.
- Potential for adverse changes in the financial services industry, including customer consolidation or bank failures.
- Risks associated with adverse changes in economic, regulatory, or market conditions, including higher interest rates.
- Challenges in attracting new customers and expanding existing customer use of solutions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income