Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 45

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 45
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 The total amount of interest and penalties associated with income tax benefits is $2.0 million for the year ended January 31, 2025. The Company anticipates insignificant change to unrecognized tax benefits over the next year. 

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Table of ContentsnCino, Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(In thousands, except share and per share amounts and unless otherwise indicated)

The Company is subject to taxation in the U.S. federal and various state and foreign jurisdictions. As of January 31, 2025 the Company is no longer subject to U.S. federal and state examinations by tax authorities for tax years prior to 2021. However, amounts reported as net operating losses and tax credit carryforwards from these tax periods remain subject to review by most tax authorities.

Note 12. Defined Contribution Plan

The Company has a 401(k) plan for its employees in the United States who meet the plan requirements. The Company, at its discretion, may make matching contributions. Employees are immediately vested in their contributions. The Company also has a Registered Retirement Savings Plan covering all eligible employees in Canada. Employer contributions for the fiscal years ended January 31, 2023, 2024, and 2025 were $7.0 million, $3.3 million, and $5.4 million, respectively.

Note 13. Leases

Operating LeasesThe Company leases its facilities and a portion of its equipment under various non-cancellable agreements, which expire at various times through December 2033, some of which include options to extend for up to five years.The components of lease expense were as follows:Fiscal Year Ended January 31,202320242025Operating lease expense$4,066 $4,940 $5,575 Variable lease expense1,276 1,979 2,581 Short-term lease expense508 451 272 Sublease income— — (382)Total$5,850 $7,370 $8,046 Supplemental cash flow information related to operating leases were as follows:Fiscal Year Ended January 31,202320242025Cash paid for amounts included in the measurement of operating lease liabilities$4,993 $4,489 $4,400 Operating right-of-use assets obtained in exchange for operating lease liabilities2,050 13,152 3,349 Modification to reduce operating right-of-use assets and operating lease liabilities842 — — Operating right-of-use assets