Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 72

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 Operating right-of-use assets obtained in exchange for operating lease liabilities810 661 Operating right-of-use assets and operating lease liabilities reductions related to operating lease terminations or modifications1,947 2,095 The weighted-average remaining lease term and weighted-average discount rate for the Company's operating lease liabilities as of July 31, 2025 were 6.18 years and 6.9%, respectively.

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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)

Future minimum lease payments as of July 31, 2025 were as follows:Fiscal Year Ending January 31,Operating Leases2026 (remaining)$2,374 20274,354 20282,390 20291,327 2030454 Thereafter6,273 Total lease liabilities17,172 Less: imputed interest(3,215)Total lease obligations13,957 Less: current obligations(4,251)Long-term lease obligations$9,706 

Note 10. Revolving Credit Facility

On February 11, 2022, the Company entered into a Credit Agreement (the “2022 Credit Agreement”), by and among the Company, nCino OpCo (the “Borrower”), certain subsidiaries of the Company as guarantors, and Bank of America, N.A. as lender (the “Lender”), pursuant to which the Lender provided to the Borrower a senior secured revolving credit facility of up to $50.0 million (the “2022 Credit Facility”). The 2022 Credit Facility included borrowing capacity available for letters of credit subject to a sublimit of $7.5 million. Any issuance of letters of credit would have reduced the amount available under the 2022 Credit Facility. The Company was also required to maintain at least $5.0 million of the Company's cash and/or marketable securities with the Lender.On February 9, 2024, the Company entered into a First Amendment to extend the existing maturity date of the 2022 Credit Facility provided for under the 2022 Credit Agreement to February 11, 2025.On March 17, 2024, the Company entered into the Second Amendment which increased our borrowing availability to $100.0 million and extended the existing maturity date of the 2022 Credit Facility to March 17, 2029