Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 128

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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 fixtures$11,712 $10,992 Computers and equipment7,193 7,171 Buildings and land56,379 56,379 Leasehold improvements28,046 24,358 Construction in progress627 6,685 103,957 105,585 Less accumulated depreciation(29,004)(28,155)$74,953 $77,430 The Company recognized depreciation expense as follows:Three Months Ended July 31,Six Months Ended July 31,2024202520242025Cost of subscription revenues$121 $118 $242 $226 Cost of professional services and other revenues327 339 669 684 Sales and marketing323 306 665 616 Research and development619 518 1,228 1,090 General and administrative190 180 384 361 Total depreciation expense$1,580 $1,461 $3,188 $2,977 Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following:As of January 31,2025As of July 31,2025Contingent consideration liability$— $8,400 Accrued compensation and benefits23,626 12,488 Accrued expenses16,239 12,766 Accrued expenses and other current liabilities$39,865 $33,654 

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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)

Note 6. Business Combinations

DocFox, Inc. (“DocFox”)On March 20, 2024 (the "DocFox Acquisition Date"), the Company acquired the outstanding equity interests of DocFox, which provides a solution to automate onboarding experiences for commercial and business banking. The Company acquired DocFox for its complementary product set, which helps simplify and automate the onboarding and account opening process. The Company has included the financial results of DocFox in the unaudited condensed consolidated statements of operations from the DocFox Acquisition Date. Including the $2.0 million in post combination expense referenced below, transaction costs associated with the DocFox acquisition were approximately $3.9 million and were recorded in general and administrative expenses.The Company paid a total of $74.3 million in cash as of the DocFox Acquisition Date. Included in