Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 146

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 2
Chunk 146
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2025 compared to the three months ended April 30, 2024, generating a gross margin for professional services and other revenues of (16.3)% compared to a gross margin of (9.7)% for the three months ended April 30, 2024.  For the three months ended April 30, 2025, personnel costs increased $1.6 million for professional services compared to the three months ended April 30, 2024, 

37

mainly from an increase in headcount, primarily due to acquisitions. The increase in cost of professional services and other revenues also included a $0.4 million increase for third-party costs of professional services.

Operating Expenses

Three Months Ended April 30,($ in thousands)20242025Operating expenses:Sales and marketing$28,045 21.9 %$32,971 22.9 %Research and development29,981 23.4 33,341 23.1 General and administrative22,544 17.6 21,643 15.0 Total operating expenses80,570 62.9 87,955 61.0 Loss from operations$(3,663)(2.9)%$(1,513)(1.0)%

Sales and Marketing

Sales and marketing expenses increased $4.9 million for the three months ended April 30, 2025 compared to the three months ended April 30, 2024, primarily attributable to an increase of $2.2 million in personnel costs driven by an increase in headcount, offset by a decrease of $1.0 million in stock-based compensation expense. The increase in sales and marketing also included an increase of $1.7 million in allocated overhead, mostly attributable to a $1.6 million increase in amortization expenses for acquired intangible assets. The increase in sales and marketing expenses also included an increase of $1.0 million in marketing costs.

Our sales and marketing headcount increased by 37 from April 30, 2024 to April 30, 2025, primarily due to acquisitions. We expect sales and marketing expenses will increase as a percentage of revenues as we expand more into credit unions in the U.S. and on the European continent.

Research and Development

Research and development expenses increased $3.4 million for the three months ended April 30, 2025 compared to the three months ended April 30, 2024, primarily due to an increase of $2