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Jan 31, 2024
nCino Q4 2024 Earnings Report
nCino reported strong fourth quarter and fiscal year 2024 financial results, with significant growth in total revenues and subscription revenues.
Key Takeaways
nCino, Inc. announced robust financial results for the fourth quarter and fiscal year 2024, highlighted by a 13% year-over-year increase in total revenues to $123.7 million and a 16% increase in subscription revenues to $107.5 million. The company also achieved a GAAP net income of $1.2 million for the quarter, a significant improvement from a net loss in the prior year.
Q4 total revenues increased by 13% year-over-year to $123.7 million.
Q4 subscription revenues grew by 16% year-over-year to $107.5 million.
GAAP net income attributable to nCino for Q4 was $1.2 million, compared to a net loss of $(21.2) million in the prior year.
Non-GAAP operating income for Q4 was $19.3 million, a substantial increase from $1.8 million in the prior year.
nCino
nCino
nCino Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
nCino provided guidance for its first quarter ending April 30, 2024, and for the full fiscal year 2025, projecting continued revenue growth and improved non-GAAP profitability.
Positive Outlook
- Q1 2025 total revenues are projected to be between $126.0 million and $127.0 million.
- Q1 2025 subscription revenues are projected to be between $108.75 million and $109.75 million.
- Q1 2025 non-GAAP operating income is projected to be between $18.0 million and $19.0 million.
- FY 2025 total revenues are projected to be between $538.5 million and $544.5 million.
- FY 2025 non-GAAP operating income is projected to be between $84.0 million and $86.0 million.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text.
- The company did not provide GAAP net income guidance for the upcoming periods.
- The company did not provide GAAP EPS guidance for the upcoming periods.
- The company did not provide specific guidance on potential impacts from the Chief Revenue Officer transition.
- The company did not provide specific guidance on the impact of the DocFox acquisition on future financials.
Revenue & Expenses
Visualization of income flow from segment revenue to net income