nCino Achieves Record Sales Quarter, Exceeding Earnings Expectations

Wednesday, 27 March 2024, 23:25

nCino's stock saw a massive 19% increase following its exceptional fiscal fourth-quarter results. Key highlights include revenue growth of 13%, exceeding earnings per share estimates, and securing multiyear extensions with top-tier clients. CEO Pierre Naudé is optimistic about future growth prospects thanks to solid execution and positive market sentiment.
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nCino Achieves Record Sales Quarter, Exceeding Earnings Expectations

A Quarter of Positivity from nCino

nCino delivered strong earnings outperformance in its fiscal fourth quarter, with revenue growing 13% year over year to $123.7 million. Adjusted net income stood at $0.21 per share, surpassing analysts' expectations.

Subscription Revenue Growth: nCino's subscription revenue increased by 16% year over year to $107.5 million, while professional services revenue slightly fell to $16.2 million.

  • Multiyear Extensions: The company expanded agreements with key clients, including U.S. enterprise banks and international banks in New Zealand, Germany, and Canada.
  • Positive Outlook: CEO Pierre Naudé highlights the strong execution and product innovation driving optimism for future growth.
    • Best Gross Sales Quarter: nCino achieved its strongest gross sales quarter in 2 1/2 years.

Future Expectations and Market Sentiment

nCino forecasts revenue in the range of $538.5 million to $544.5 million for the fiscal year ending Jan. 31, 2025. Despite slightly lower consensus estimates, the adjusted net income per share outlook exceeds Wall Street's projections, fueling investor optimism.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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