Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 61

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 investments we have made to date.

Non-Operating Income (Expense)

Interest Income. Interest income consists primarily of interest earned on our cash and cash equivalents.

Interest Expense. Interest expense consists primarily of interest related to our financing obligations along with interest expense on borrowings, commitment fees, and amortization of debt issuance costs associated with our secured revolving credit facility.

Other Income (Expense), Net. Other income (expense), net consists primarily of foreign currency gains and losses, the majority of which is due to the remeasurement of intercompany loans that are denominated in currencies other than the underlying functional currency of the applicable entity.

Income Tax Provision (Benefit). Income tax provision (benefit) consists of federal and state income taxes in the U.S. and income taxes in foreign jurisdictions. 

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Results of Operations

The results of operations presented below should be reviewed in conjunction with the financial statements and notes included elsewhere in this Quarterly Report on Form 10-Q. The following tables present our selected unaudited condensed consolidated statements of operations data for three months ended April 30, 2024 and 2025 in both dollars and as a percentage of total revenues, except as noted.

Three Months Ended April 30,202420251($ in thousands)Revenues:Subscription revenues$110,406 $125,588 Professional services and other revenues17,681 18,549 Total revenues128,087 144,137 Cost of revenues:Cost of subscription revenues31,780 36,125 Cost of professional services and other revenues19,400 21,570 Total cost of revenues51,180 57,695 Gross profit76,907 86,442 Operating expenses:Sales and marketing28,045 32,971 Research and development29,981 33,341 General and administrative22,544 21,643 Total operating expenses80,570 87,955 Loss from operations(3,663)(1,513)Non-operating income (expense):Interest income605 417 Interest expense(1,477)(4,450)Other income (expense), net(744)16,097 Net income (loss) before income taxes(5,279)10,551 Income tax provision (benefit)(2,982)4,534 Net income (loss)(2,297)6,017 Net income (loss) attributable to redeemable non-controlling interest(165)76 Adjustment attributable to redeemable non-cont