Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 79

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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 thousands, except share and per share amounts and unless otherwise indicated)

Long-lived assets, which consist of property and equipment, net and operating ROU assets, net by geographic region were as follows:As of January 31, 2025As of July 31,2025United States$79,115 $72,493 United Kingdom9,760 15,740 Other2,104 2,133 $90,979 $90,366 

Note 15. Restructuring

In the second quarter of fiscal 2026, the Company announced a workforce reduction of approximately 7% and office space reductions in certain markets (collectively, the “Restructuring Plan”) in furtherance of its efforts to improve operational efficiencies. The Company substantially completed the planned actions during our second quarter of fiscal 2026, and expects to finalize the process in the second half of fiscal 2026, subject to local law and consultation requirements.Our restructuring costs consist primarily of severance and termination benefits, exit costs and asset write-offs. Severance costs generally include severance payments, out placement services, health insurance coverage and employer tax liabilities. Exit costs primarily consist of lease exit and contract termination costs. Lease termination costs include $1.7 million in lease termination payments, offset by a $0.6 million gain to derecognize the operating right-of-use assets and operating lease liabilities.The Company’s restructuring charges for the six months ended months ended July 31, 2025 were as follows:Severance CostsExit CostsAsset Write-offsTotalCost of subscription revenues$426 $53 $17 $496 Cost of professional services and other revenues537 139 46 722 Sales and marketing1,213 128 42 1,383 Research and development3,732 221 73 4,026 General and administrative1,092 1,191 1,155 3,438 Total$7,000 $1,732 $1,333 $10,065 The activity of the Restructuring Plan liabilities was as follows:Balance at January 31, 2025$— Charges incurred10,065 Cash payments(7,305)Non-cash items(674)Balance at July 31, 2025$2,086 Restructuring Plan liabilities are included in our unaudited condensed consolidated balance sheets as follows:As of July 31,2025Included in accounts payable$