Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 46

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 46
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 and operating lease liabilities disposed of— 115 1,995 The weighted-average remaining lease term and weighted-average discount rate for the Company's operating lease liabilities as of January 31, 2025 were 5.77 years and 6.9%, respectively.

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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)

Future minimum lease payments as of January 31, 2025 were as follows:Fiscal Year Ending January 31,Operating Leases2026$5,814 20274,847 20283,162 20291,700 2030397 Thereafter5,881 Total lease liabilities21,801 Less: imputed interest(3,829)Total lease obligations17,972 Less: current obligations(5,153)Long-term lease obligations$12,819 

Note 14. Revolving Credit Facility

On February 11, 2022, the Company entered into a Credit Agreement (the “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 is providing to the Borrower a senior secured revolving credit facility of up to $50.0 million (the “2022 Credit Facility”). The Credit Facility includes borrowing capacity available for letters of credit subject to a sublimit of $7.5 million. Any issuance of letters of credit will reduce the amount available under the Credit Facility. The Company was also required to maintain at least $5.0 million of the Company's cash and/or marketable securities with the Lender which was considered restricted cash and was included in long-term prepaid expenses and other assets as of January 31, 2024.On February 9, 2024, the Company entered into a First Amendment to extend the existing maturity date of the 2022 Credit Facility provided for under the 2022 Credit Agreement to February 11, 2025.On March 17, 2024, the Company entered into the Second Amendment which increased our borrowing availability to $100.0 million and extended the existing maturity date of the 2022 Credit Facility to March 17, 2029.Borrowings under the 2022 Credit Facility accrued interest, at the Borrower’s option, at: (i)