Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 45

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 Months Ended April 30,20242025Expected life (in years)0.500.50Expected volatility38.70%40.74%Expected dividends0.00%0.00%Risk-free interest rate5.24%4.25%

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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)

Stock-Based Compensation ExpenseTotal stock-based compensation expense included in our unaudited condensed consolidated statements of operations were as follows:Three Months Ended April 30,20242025Cost of subscription revenues$562 $664 Cost of professional services and other revenues2,779 2,754 Sales and marketing3,956 2,928 Research and development4,226 4,115 General and administrative4,682 5,353 Total stock-based compensation expense$16,205 $15,814 

Note 9. Leases

Operating LeasesThe Company leases its facilities and a portion of its equipment under various non-cancellable agreements, which expire at various times through December 2033, some of which include options to extend for up to five years.The components of lease expense were as follows:Three Months Ended April 30,20242025Operating lease expense$1,334 $1,410 Variable lease expense623 642 Short-term lease expense90 52 Sublease income$— $(87)Total lease expense$2,047 $2,017 Supplemental cash flow information related to operating leases were as follows:Three Months Ended April 30,20242025Cash paid for amounts included in the measurement of operating lease liabilities$1,087 $1,584 Operating right-of-use assets obtained in exchange for operating lease liabilities705 — Operating right-of-use assets and operating lease liabilities disposed of1,947 — The weighted-average remaining lease term and weighted-average discount rate for the Company's operating lease liabilities as of April 30, 2025 were 5.83 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 April 30, 2025 were as follows:Fiscal Year Ending January 31,Operating Leases202