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.