Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 35

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 35
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7Other919 (424)495 1,369 (854)515 2.3$190,715 $(75,143)$115,572 $239,174 $(84,603)$154,571 6.5During the fiscal year ended January 31, 2025, the Company wrote off approximately $20.6 million of fully amortized intangible assets and the corresponding accumulated amortization.The Company recognized amortization expense for intangible assets as follows:Fiscal Year Ended January 31,202320242025Cost of subscription revenues$17,019 $16,306 $17,784 Cost of professional services and other revenues94 330 330 Sales and marketing11,087 20,590 11,979 Total amortization expense$28,200 $37,226 $30,093 During the third quarter of fiscal 2024, the Company rebranded the SimpleNexus solution to nCino Mortgage, resulting in a change to the trade name useful life. As a result, the Company recorded accelerated amortization to fully amortize the remaining trade name intangible asset in fiscal 2024.The expected future amortization expense for intangible assets as of January 31, 2025 is as follows:Fiscal Year Ending January 31,2026$33,962 202731,907 202817,449 202917,349 203015,059 Thereafter38,845 $154,571 The expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, future changes to expected asset lives of intangible assets, and other events.

Note 8. Reseller Agreement

The Company has a reseller agreement in place with our largest vendor to utilize their platform and to develop the Company’s cloud-based banking software as an application within their hosted environment. This agreement was amended 

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Table of ContentsnCino, Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(In thousands, except share and per share amounts and unless otherwise indicated)

during fiscal 2024 extending its term through January 31, 2031, and will automatically renew in annual increments thereafter unless either party gives notice of non-renewal before the end of the initial term or the respective renewal term.

Note 9. Stockholders’ Equity

A summary of the rights and key