Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 143

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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 stock of all of the Company’s domestic subsidiaries, and 65% of the capital stock of foreign subsidiaries that are directly owned by the Borrower or a Guarantor.As of January 31, 2025 and July 31, 2025, unamortized debt issuance costs were $1.4 million and $1.2 million, respectively, and are included in long-term prepaid expenses and other assets.The Company had $166.0 million and $203.5 million outstanding and no letters of credit issued under the 2024 Credit Facility and was in compliance with all covenants as of January 31, 2025 and July 31, 2025, respectively. As of July 31, 2025, the applicable interest rate was 6.33%. The available borrowing capacity under the 2024 Credit Facility was $46.5 million as of July 31, 2025.

Note 11. Commitments and Contingencies

In addition to the operating lease commitments described in Note 9 "Leases", the Company has additional contractual commitments as described further below.Purchase CommitmentsThe Company’s purchase commitments consist of non-cancellable agreements to purchase goods and services, primarily licenses and hosting services, entered into in the ordinary course of business.Financing ObligationsThe Company's financing obligations consist of leases for the Company's headquarters and parking deck in which the Company is deemed the owner of for accounting purposes. The leases will be analyzed for applicable lease accounting upon expiration of the purchase option, if not exercised.

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

Purchase commitments and future minimum lease payments required under financing obligations as of July 31, 2025 is as follows:Fiscal Year Ending January 31,Purchase commitmentsFinancing obligations - leased facility2026 (remaining)$42,813 $2,330 202782,713 3,958 202875,867 — 2029729 — 2030— — Thereafter— — Total$202,122 $6,288 Residual financing obligations and assets49,617 Less: amount representing interest(3,877)Financing obligations$52,028 A portion of the associated lease payments are recognized as interest expense and the remainder reduces the financing obligations. The weighted-average discount rate for the Company