Company: NCNO
Filing Date: 2025-12-03
Form Type: 10-Q
Source: 0001902733-25-000131
Chunk: 64

Company: nCino, Inc.
Filing Date: 2025-12-03
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 following table sets forth the components of the preliminary fair value of identifiable intangible assets and their estimated useful lives over which the acquired intangible assets will be amortized on a straight-line basis, as this approximates the pattern in which economic benefits of the assets are consumed as of the Sandbox Acquisition Date:Fair ValueUseful LifeTrade name$400 1 yearCustomer relationships8,500 10 yearsDeveloped technology4,500 5 yearsTotal intangible assets subject to amortization$13,400 Developed technology represents the preliminary fair value of Sandbox Banking’s technology, customer relationships represent the preliminary fair value of the underlying relationships with Sandbox Banking’s customers, and trade names represent the preliminary fair value of Sandbox Banking’s company name. The Company continues to assess the rates used in the preliminary valuation methods such as, but not limited to, the discount rates for developed technology, customer relationships and trade name and customer attrition rate for customer relationships.

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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)

Goodwill is primarily attributable to expanded market opportunities, synergies expected from the acquisition, and assembled workforce. The goodwill is not expected to be deductible for tax. The financial results of Sandbox Banking since the Sandbox Acquisition Date are included in the Company’s unaudited condensed consolidated financial statements and are not material to the Company. The Company has not disclosed pro-forma revenue and earnings attributable to Sandbox Banking as they did not have a material effect on the Company’s consolidated financial statements.

Note 7. Goodwill and Intangible Assets

GoodwillThe change in the carrying amounts of goodwill was as follows:Balance, January 31, 2025$1,019,375 Acquisitions53,830 Measurement period adjustments(10,413)Translation adjustments8,360 Balance, October 31, 2025$1,071,152 Intangible assetsIntangible assets, net are as follows:As of January 31, 2025As of October 31, 2025GrossAmountAccumulatedAmortizationNet CarryingAmountGrossAmountAccumulatedAmortizationNet CarryingAmountDeveloped technology$97,029 $(49,819)$47,210 $102,053 $(65,135)$36,918 Customer relationships139,315 (33,315)106,