Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 140

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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uring Plan.The components of lease expense were as follows:Three Months Ended July 31,Six Months Ended July 31,2024202520242025Operating lease expense$1,392 $1,412 $2,726 $2,822 Variable lease expense647 653 1,270 1,295 Short-term lease expense58 75 148 127 Sublease income— (87)— (174)Total lease expense$2,097 $2,053 $4,144 $4,070 Supplemental cash flow information related to operating leases were as follows:Six Months Ended July 31,20242025Cash paid for amounts included in the measurement of operating lease liabilities$2,212 $3,155 Operating right-of-use assets obtained in exchange for operating lease liabilities810 661 Operating right-of-use assets and operating lease liabilities reductions related to operating lease terminations or modifications1,947 2,095 The weighted-average remaining lease term and weighted-average discount rate for the Company's operating lease liabilities as of July 31, 2025 were 6.18 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 July 31, 2025 were as follows:Fiscal Year Ending January 31,Operating Leases2026 (remaining)$2,374 20274,354 20282,390 20291,327 2030454 Thereafter6,273 Total lease liabilities17,172 Less: imputed interest(3,215)Total lease obligations13,957 Less: current obligations(4,251)Long-term lease obligations$9,706 

Note 10. Revolving Credit Facility

On February 11, 2022, the Company entered into a Credit Agreement (the “2022 Credit Agreement”), by and among the Company, nCino OpCo (the “Borrower”), certain subsidiaries of the Company as guarantors, and Bank of America, N.A. as lender (the “Lender”), pursuant to which the Lender provided to the Borrower a senior secured revolving credit facility of up to $50.0 million (the “2022 Credit Facility”). The 2022 Credit Facility included borrowing capacity available