Company: NCNO
Filing Date: 2025-12-03
Form Type: 10-Q
Source: 0001902733-25-000131
Chunk: 60

Company: nCino, Inc.
Filing Date: 2025-12-03
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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.2 million in cash at the FullCircl Acquisition Date. The purchase consideration includes a deferred payment of $15.0 million, with a present value of $13.2 million at the FullCircl Acquisition Date, relating to an indemnity holdback amount to be paid in 24 months following the FullCircl Acquisition Date which is included in other long-term liabilities on the unaudited condensed consolidated balance sheets. The Company will accrete the $1.8 million, which represents the difference between the total deferred payment and the present value, to interest expense over the two-year period using the effective interest rate methodology.

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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)

In addition, the Company issued 52,877 RSUs with an approximate fair value of $2.0 million to certain employees of FullCircl, which will vest over four years subject to such employees’ continued employment. The RSUs will be recorded as stock-based compensation expense post-acquisition as the RSUs vest and has been excluded from the purchase consideration.The transaction was accounted for using the acquisition method and, as a result, tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values at the FullCircl Acquisition Date. Any excess consideration over the fair value of the assets acquired and liabilities assumed was recognized as goodwill and is subject to revision as the purchase price allocation is complete. The Company determined the acquisition date contract assets and liabilities in accordance with ASC 606.The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the FullCircl Acquisition Date:Fair ValueCash and cash equivalents$3,182 Accounts receivable1,814 Property and equipment, net66 Operating lease right-of-use assets, net198 Other current and noncurrent assets211 Deferred income taxes136 Intangible assets37,000 Goodwill108,549 Accounts payable, accrued expenses, and other liabilities, current and noncurrent(3,776)Deferred revenue, current and noncurrent(4,773)Operating lease liabilities, current and noncurrent(198)Net assets acquired$142,409 During the six months ended July 31, 2025, the Company recorded measurement period adjustments that included a $9.4 million adjustment to decrease goodwill for a $9.4 million deferred income tax adjustment. No additional adjustments