Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 41

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 41
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,417 17,016 Research and development11,602 15,942 17,416 General and administrative16,654 15,460 22,292 Total stock-based compensation expense1$50,232 $58,035 $71,592 1Includes $0.2 million benefit incurred for the fiscal year ended January 31, 2023 in connection with the restructuring plan commenced in January 2023. See Note 18 "Restructuring" for more information.

Note 11. Income Taxes

The components of loss before income taxes by domestic and foreign jurisdictions were as follows:Fiscal Year Ended January 31,202320242025United States$(100,223)$(61,994)$(26,326)Foreign2,450 20,058 (9,234)Loss before income taxes$(97,773)$(41,936)$(35,560)

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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)

The components of the income tax provision (benefit) consisted of the following:Fiscal Year Ended January 31,202320242025Current:Federal$— $— $498 State81 489 487 Foreign2,363 3,441 3,622 Total2,444 3,930 4,607 Deferred:Federal1,339 819 (2,870)State438 629 (1,200)Foreign(150)(3,788)(3,048)Total1,627 (2,340)(7,118)Total income tax provision (benefit)$4,071 $1,590 $(2,511)The differences between income taxes expected at the U.S. federal statutory income tax rate and the reported income tax (provision) benefit are summarized as follows:Fiscal Year Ended January 31,202320242025Income taxes at statutory rate of 21% for 2023, 2024, and 202521.0 %21.0 %21.0 %State income tax (provision) benefit, net of federal impact(0.4)(2.7)1.6 Tax credits0.0 23.9 9.7 Changes in valuation allowance(21.6)(10.5)7.7 Federal return to provision(0.2)(